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Taught degree

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.

Key Information

Modes and duration

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

Tuition Fees (2015/16)

UK/EU:
£20,140 (FT)
Overseas:
£22,350 (FT)
Part-time fees are available on request from the department.

Application deadlines

All applicants:
30 June 2015

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 requirement: Standard

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.

International equivalencies

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 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.

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

  • Asset Pricing in Continuous Time
  • Forecasting
  • Quantitative and Computational Finance

Options

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

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.

Funding

Edwin Power Scholarship

Value:
£400
Duration:
1 year
Eligibility:
Prospective research students in the Department of Mathematics.

Edwin Power Scholarship

Value:
£400
Duration:
1 year
Eligibility:
Prospective research students in the Department of Mathematics.

Brown Family Bursary

Value:
£15,000
Duration:
1 year
Eligibility:
Prospective full-time Master's students within the Faculties of the Built Environment, Engineering Science and Mathematical & Physical Sciences.

Brown Family Bursary

Value:
£15,000
Duration:
1 year
Eligibility:
Prospective full-time Master's students within the Faculties of the Built Environment, Engineering Science and Mathematical & Physical Sciences.

More scholarships are listed on the scholarships website

Careers

Many students have gone onto careers in financial services in the City or in their home country; a number of graduates have proceeded to a PHD.

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.

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 Masters programme is that students will be educated to a high level in statistics and computing.

Student / staff ratios › 46 staff › 35 taught students › 60 research students

Department: Mathematics

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
2015-06-30

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.

Contact Information

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