Financial Mathematics MSc

  • Delivery: Full Time
  • Programme type: Taught Programme
  • Study location:
  • Edinburgh
  • Entry date:
  • September

Overview

This masters programme covers the advanced mathematics that has revolutionised finance since the works of Black, Scholes and  Merton in the early seventies. This programme is aimed at those students who are passionate about mathematics and driven to make a career amongst the many and varied financial institutions throughout the world.

The programme, which is part of the Maxwell Institute for Mathematical Sciences, the joint research institute of mathematical sciences at the University of Edinburgh and Heriot-Watt University, provides an intensive training in the mathematical ideas and tools vital to the finance industry. By developing essential new mathematical concepts, especially in stochastic calculus, and placing the mathematics in the contexts of financial markets, modelling, derivative pricing, portfolio theory and risk management, the course equips students for a range of lucrative and exciting career opportunities.

Programme duration

This full-time taught MSc programme lasts for 12 months.  

The programme is delivered jointly by Heriot-Watt University and the University of Edinburgh and you will have access to all student facilities at each campus. Currently applications are being administered through the University of Edinburgh.

Programme content

Core courses:

  • Derivatives Markets
  • Derivative Pricing and Financial Modelling
  • Financial Markets
  • Discrete-Time Finance
  • Stochastic Analysis in finance
  • Credit Risk Modelling
  • Special Topics, including industry lead projects

Options:

  • Statistical Methods
  • Financial Econometrics
  • Time Series Analysis
  • Modern Portfolio Theory
  • Optimisation Methods in Finance
  • Numerical Methods for PDEs
  • Simulation in Finance
  • Deterministic Optimisation Methods in Finance

Entry requirements

Entry requires a UK 2.1 degree or equivalent in Mathematics, Statistics, or a related subject with a substantial mathematics content from a British or overseas university.

We are looking to train those who not only have a strong background in mathematics, but who also possess the ability to communicate effectively, and have the desire to succeed in a dynamic and competitive industry.

The programme is not suitable for finance professionals without graduate-level mathematical training.

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)

Tuition fees

Fees for this programme can be found on our Tuition fees page.

Scholarships & bursaries