Financial Mathematics MSc


There is major interest in the financial services industry to raise the level of mathematics used in banks in applications to pricing, hedging and risk management. This MSc provides students with the skills necessary in mathematics, statistics and computation for a career in this fast developing field.


Mode of study

  • Full-time 1 year
  • Part-time 2 years

Tuition fees

  • UK/EU Full-time: £19,550
  • Overseas Full-time: £21,700

Application date

  • All applicants: 30 June 2014

More details in Application section.


What will I learn?

Students will develop a detailed understanding of the applications of mathematics, statistics and computation as applied to problems in finance, and will gain the necessary practical tools for the pricing, hedging and risk management of a diverse range of financial products in several asset classes.

Why should I study this degree at UCL?

UCL Mathematics is an internationally renowned department which carries out excellent individual and group research applying modelling techniques to problems in financial, industrial, biological and environmental areas.

The department hosts a stream of distinguished international visitors. In recent years four staff members have been elected fellows of the Royal Society, and the department publishes the highly regarded research journal Mathematika.

A notable aspect of this applied Masters programme is that students will be educated to a high level in statistics and computing.


Students undertake modules to the value of 180 credits. The programme consists of four core modules (60 credits) four optional modules (60 credits) and a research dissertation (60 credits).

Core Modules

  • Quantitative and Computational Finance
  • Asset Pricing in Continuous Time
  • Forecasting
  • Interest Rates and Credit Modelling

Options

  • Numerical Analysis for Finance
  • Market Risk, Measures and Portfolio Theory
  • Mathematics and Statistics of Algorithmic Trading
  • Applied Computational Finance
  • Equities, Foreign Exchange, and Commodities Modelling
  • Statistical Inference
  • Stochasing Processes
  • Probability

Dissertation/report

All MSc students undertake an independent research project, which culminates in a research report of approximately 10,000 words and a project presentation.

Teaching and Learning

The programme is delivered through a combination of lectures, practical classes, tutorials and problem-solving exercises. Assessment is through written papers, coursework, examinations and the research report and presentation.

Further details available on subject website:


Scholarships available for this department

Edwin Power Scholarship

Brown Family Bursary

This award is based on financial need.

Further information about funding and scholarships can be found on the Scholarships and funding website.


Entry requirements

A minimum of an upper second-class Bachelor's degree in a relevant discipline from a UK university or an overseas qualification of an equivalent standard.

International equivalencies

Select your country for equivalent alternative requirements

English language proficiency level: Standard

How to apply

Students are advised to apply as early as possible due to competition for places. Those applying for scholarship funding (particularly overseas applicants) should take note of application deadlines.

The deadline for applications is 30 June 2014.

Who can apply?

The programme is suitable for applicants with a first degree in mathematics sciences, engineering, finance or economics who wish to gain the skills necessary for a career or further research in this field. Evidence of ability in key areas of applied mathematics is required.

What are we looking for?

When we assess your application we would like to learn:

  • why you want to study Financial Mathematics at graduate level
  • why you want to study Financial Mathematics at UCL
  • what particularly attracts you to this programme
  • how your academic background meets the demands of a challenging programme
  • where you would like to go professionally with your degree
Together with essential academic requirements, the personal statement is your opportunity to illustrate whether your reasons for applying to this programme match what the programme will deliver.


Career

The first cohort of students on the Financial Mathematics MSc are due to graduate in 2013, therefore no information about career destinations is currently available.

Employability

The Financial Services industry requires quantitative finance professionals who are able to analyse data, to program, and who are expert at computational statistics, so career prospects for graduates of this new programme are excellent.


Next steps

Contact

Ms Julija Melesko

T: +44 (0)20 7679 1373

Department

Mathematics

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Prospectus subject

Mathematics

Faculty overview

Mathematical and Physical Sciences


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Staff View

"Many of the world's top researchers visit London because of its strength in geometry and mathematics in general, so I have been able to network with top names in the field, leading to long-lasting connections and collaborations."

Dr Jason Lotay

Lecturer in Pure Mathematics

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"Studying in an interdisciplinary setting allows me to experience a huge breadth of subjects and to work in different departments that would otherwise be inaccessible."

Jaspal Puri

Degree: Modelling Biological Complexity MRes/PhD

Subject: CoMPLEX (Centre for Mathematics & Physics in the Life Sciences & Experimental Biology), Faculty: Mathematical and Physical Sciences