Actuarial and Financial Mathematics PhD
- Programme type: Research
- Study location:
Actuarial and Financial Mathematics is one of the main research areas within our Mathematical Sciences grouping. PhD opportunities are alighted with the research interests of our academic staff and are broadly as follows:
- Risk management
- Actuarial mathematics
- Finance & insurance interface
- Pension metrics
- Stochastic asset models
- Pricing & hedging of derivative securities
The school also hosts the Actuarial Research Centre with funding from the Faculty of Actuaries Endowment Fund, which acts as the focus for postgraduate research and training in actuarial science and quantitative risk management in Scotland.
A PhD programme normally lasts for 3 years as a full time student. Part-time options are available.
We are part of the Maxwell Institute for Mathematical Sciences, a joint research institute bringing together within a single body the research activities of :
- The Department of Mathematics at Heriot-Watt University
- The Department of Actuarial Mathematics at Heriot Watt University
- The School of Mathematics at the University of Edinburgh
The institute obtained excellent results in the most recent Research Assessment Exercise, RAE 2008.
We are part of the Edinburgh Research Partnership in Engineering & Mathematics, alongside Edinburgh University, which consists of five joint research institutes and a joint graduate school.
We work closely with the financial services industry via the Scottish Financial Risk Academy.
Contact Professor Andrew Cairns to discuss further: A.J.G.Cairns@hw.ac.uk
Or for more general information, please send an email enquiry to: MACSpgenquiries@hw.ac.uk
English language requirements
If your first language is not English, or your first degree was not taught in English, we’ll need to see evidence of your English language ability. The minimum requirement for English language is IELTS 6.5 or equivalent. We offer a range of English language courses to help you meet the English language requirement prior to starting your masters programme:
- 2 semesters English (for IELTS of 4.5-5.0);
- 12 weeks English (for IELTS of 5.5);
- 6 weeks English (for IELTS 5.5*-6.0). (*minimum 5.5 reading and writing)
Fees for this programme can be found on our Tuition fees page.
Scholarships & bursaries
Commonwealth Scholarship and Fellowship Plan
International (Commonwealth citizens)
Commonwealth Scholarships Scheme
Candidates from developed Commonwealth countries (see below)
EPSRC Doctoral Training Awards
UK nationals and EU nationals with residence qualifications
East Lothian Educational Trust
Applicants must be a resident of the old county of East Lothian (ie excluding Musselburgh, Wallyford and Whitecraig.)
- Google Europe Scholarship for Students with Disabilities (MACS)
James Watt Fees Scholarships
All UK/EU applicants
James Watt Scholarships
Leverhulme Trade Charities Trust
Restricted to residents of the UK who are a son, daughter, spouse, widow or widower of a commercial traveller, chemist or grocer.
- MACS Alumni Scholarship (MACS)
- MACS Early Bird Scholarship (MACS)
Remission of Fees (families of staff)
Spouses/civil partners and children of members of staff, also retired members of staff of the University
Schlumberger Faculty for the Future Fellowships
Women from developing and emerging economies pursuing PhD or Post-Doctorate studies
Scotland's Saltire Scholarships
Citizens of Canada, the People's Republic of China, India or USA (2 awards for each country)
Employees of Heriot-Watt University
The Consumer Affairs UK Scholarship Programme
All currently enrolled students
West Lothian Educational Trust
Individuals must have originated in West Lothian or have lived there for the last 3 years.