Financial Mathematics MSc
- Delivery: Full Time
- Programme type: Taught Programme
- Study location: Edinburgh
- Entry date: September
This programme covers the advanced mathematics that has revolutionised finance since the works of Black, Scholes and Merton in the early 1970's. It is aimed at students who are passionate about mathematics and driven to make a career amongst the many and varied financial institutions throughout the world.
The programme 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, and 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, derivative pricing and credit risk, the programme equips students for a range of exciting and potentially lucrative career opportunities.
This full-time taught MSc programme lasts for 12 months.
This programme is delivered jointly between Heriot-Watt University and the University of Edinburgh. This allows students to enjoy the benefits of being a fully enrolled student at both univerities and access to all the services and facilities provided by each.
Teaching is delivered by renowned academics from both Heriot-Watt and the University of Edinburgh who are experts in their field and classes will take place across both university campuses.
The MSc degree is awarded jointly by Heriot-Watt and the University of Edinburgh and successful students will receive a degree certificate with both universities named as the awarding bodies.
The application process is currently being administered by Heriot-Watt University and accommodation will therefore be offered in our university managed accommodation.
- 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
- 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
For more detailed course descriptions, please visit our current student website
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:
- 14 weeks English (for IELTS of 5.5 with no more than one skill at 4.5);
- 10 weeks English (for IELTS of 5.5 with minimum of 5.0 in all skills);
- 6 weeks English (for IELTS 5.5 with minimum of 5.5 in reading & writing and minimum of 5.0 in speaking & listening)
|Scotland / Non-UK EU||£19700|
* If you are unsure which category you fall in to, you should complete a fee status enquiry form, which allows us to assess your fees.
Scholarships & bursaries
- Alumni Scholarship Scheme
- Carnegie-Cameron Taught Postgraduate Bursaries
Applicants must be Scottish by birth, have at least one parent born in Scotland or have been continuously resident in Scotland for a period of three years for the purpose of secondary or tertiary education.
- Commonwealth Scholarship and Fellowship Plan
International (Commonwealth citizens)
- Department for International Development (DFID) Commonwealth Shared Scholarship Scheme
- East Lothian Educational Trust
Applicants must be a resident of the old county of East Lothian (ie excluding Musselburgh, Wallyford and Whitecraig.)
- Funds For Women Graduates (FFWG) grants
Women studying or researching for a postgraduate or PhD
- Google Europe Scholarship for Students with Disabilities (MACS)
- 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.
- Local Education Authority Awards
- MACS Alumni Scholarship (MACS)
- MACS Head of School Scholarship (MACS)
- MACS Postgraduate Scholarships (MACS)
- Money for Books Scholarship
Home students only
- Music Scholarships
- Part-time Fee Grant (SAAS)
See SAAS residence conditions.
- Postgraduate Student Allowance Scheme (SAAS)
EU and UK applicants who meet the SAAS criteria on eligible courses
- Rapid Formations Entrepreneur Scholarship Programme
All students except exchange program students
- Remission of Fees (families of staff)
Spouses/civil partners and children of members of staff, also retired members of staff of the University
- Royal Caledonian Schools Trust
Applicants must be of Scots parentage (conditions apply - see below)
- SFC Key Skills Funded Places (MACS) (MACS)
Applicants resident in Scotland who accept an offer for an eligible course
- Scotland's Saltire Scholarships
Citizens of Canada, the People's Republic of China, India or USA (2 awards for each country)
- Sports Scholarships
- Staff Scholarships
Employees of Heriot-Watt University
- The Muirhead Trust
Scottish, female applicants for science and engineering courses
- The Sutherland Page Trust
Only students who were born in Scotland, or who have at least one parent born in Scotland, or, who were resident in Scotland for at least three continuous years prior to entry to a Scottish University need apply.
- West Lothian Educational Trust
Individuals must have originated in West Lothian or have lived there for the last 3 years.