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Financial Mathematics MSc

The financial services industry place great emphasis on raising 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.

Key information

Programme starts

September 2017

Modes and duration

Full time: 1 year
Part time: 2 years

This course may be offered part time. However, there will be no special arrangements like weekend or evening lectures. Part time students will have to follow the full-time timetable schedule.

Tuition fees (2017/18)

UK/EU:
£24,140 (FT)
Overseas:
£27,540 (FT)

Application dates

All applicants
Open: 5 October 2016
Close: 30 June 2017

Note on fees: The tuition fees shown are for the year indicated above. Fees for subsequent years may increase or otherwise vary. Further information on fee status, fee increases and the fee schedule can be viewed on the UCL Current Students website.

Optional qualifications: This degree is also available as a PG Diploma and a PG Certificate with fees set accordingly.
Location: London, Bloomsbury

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.

English language requirements

If your education has not been conducted in the English language, you will be expected to demonstrate evidence of an adequate level of English proficiency.

The English language level for this programme is: Standard

Further information can be found on our English language requirements page.

International students

Country-specific information, including details of when UCL representatives are visiting your part of the world, can be obtained from the International Students website.

International applicants can find out the equivalent qualification for their country by selecting from the list below.

Select your country:

Degree information

Students will develop a detailed understanding of the application of mathematics, statistics and computation 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.

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).

A Postgraduate Diploma will be offered to the students that have completed 8 taught modules (120 UCL credits).

A Postgraduate Certificate will be offered to the students that have completed 4 taught modules (60 UCL credits).

Core modules

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

Optional modules

Four modules must be chosen from the following list.

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

Dissertation/report

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

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 information on modules and degree structure is available on the department website: Financial Mathematics MSc

Funding

Scholarships relevant to this department are displayed below.

Edwin Power Scholarship

Value:
£400 (1 year)
Eligibility:
UK, EU, Overseas students
Criteria:
Based on academic merit

For a comprehensive list of the funding opportunities available at UCL, including funding relevant to your nationality, please visit the Scholarships and Funding website.

Careers

Many students have progressed to careers in financial services in the City of London or in their home country; a number of graduates have proceeded to a PhD.

Top career destinations for this degree

  • University Teacher, Chechen State University
  • Operational Permanent Control Analyst, BNP Paribas
  • UK Education Consultant, SI-UK Education Council
  • CFA (Chartered Financial Analyst), Quartic Training
  • MSc Financial Mathematics, University College London (UCL)

Employability

The financial services industry requires quantitative finance professionals who are able to analyse data, to program, and who are expert in mathematics and computational statistics. Career prospects for graduates of this programme are excellent.

Careers data is taken from the ‘Destinations of Leavers from Higher Education’ survey undertaken by HESA looking at the destinations of UK and EU students in the 2012–2014 graduating cohorts six months after graduation.

Why 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 Master's programme is that students will be educated to an advanced level in statistics and computing.

Department: Mathematics

Student / staff numbers › 74 staff including 25 postdocs › 50 taught students › 70 research students

Research Excellence Framework (REF)

The Research Excellence Framework, or REF, is the system for assessing the quality of research in UK higher education institutions. The 2014 REF was carried out by the UK's higher education funding bodies, and the results used to allocate research funding from 2015/16.

The following REF score was awarded to the department: Mathematics
81% rated 4* (‘world-leading’) or 3* (‘internationally excellent’)

Learn more about the scope of UCL's research, and browse case studies, on our Research Impact website.

Application and next steps

Applications

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.

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.

Application deadlines

All applicants
30 June 2017

For more information see our Applications page.

Apply now

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.

Successful applicants to this programme will be required to pay a tuition fee deposit dependent on their mode of study and fee status as given below:

  • UK/EU full-time: £2,000
  • UK/EU part-time: £1,000
  • Overseas full-time: £2,000
  • Overseas part-time: £1,000


Further details can be found on the Fees and funding page.

Contact information

Page last modified on 27 October 2016 at 11:10 by UCL Publications & Marketing Services. Please contact us for content updates.

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