Financial Engineering Masters/MSc

 Financial engineering is a multi-disciplinary field that involves the application of computational engineering, software engineering and computer programming skills, along with underlying mathematical and statistical theories, to analyse and manage financial opportunities.

This programme will support you to achieve the highest levels in mathematical finance, developing the most advanced computational and programming techniques. This will enable you to advance quickly in a field where there is a growing global shortage of highly qualified people, making our graduates much in demand from sectors such as economics, finance, banking, actuarial science, insurance and industrial management. 

 

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Financial engineering is a multi-disciplinary field that involves the application of computational engineering, software engineering, and computer programming skills, as well as the underlying mathematical and statistical theories to the analysis and management of financial opportunities. 

The programme is for strong (1st, 2.1 or equivalent) graduates from programmes in mathematics, or programmes with advanced mathematical components, and who wish to pursue a career in quantitative analysis in economic or financial sectors with state-of-art mathematical methods, computational skills and programming expertise.

Students will receive the most advanced computational and programming techniques which help them advance quickly in the field.

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Why study this course

  • Acquire the ability to integrate the knowledge of mathematics, statistics and computer science in order to address, critically analyse and provide a rational appraisal of a problem
  • Learn to use software packages to perform statistical analysis and empirical studies
  • Focus on finding optimal solutions to financial problems in broader and challenging environments
  • Train specifically in independent study and research, which is an essential skill for quantitative analyst
  • Study at the School of Mathematics which is internationally recognised for the quality of research in various fields

Modules

This course consists of 180 credits, two-thirds from taught modules (core modules are compulsory, plus choose several optional modules) and one-third from your research project.

Core modules

  • Exotic Options, Bonds and Further Quantitive Finance - 10 credits
  • Introduction to Quantitive Finance - 10 credits
  • Advanced Quantitive Finance: Crashes, Volatility, Multiple Assets and Hedging - 10 credits
  • Computational Methods and Programming - 20 credits
  • Game Theory - 10 credits
  • Research Skills - 20 credits
  • Statistical Methods in Finance and Economics - 20 credits
  • Financial Engineering Project - 60 credits

Optional modules

Example optional modules are listed below:

  • Fundamentals: Databases
  • Intelligent Data Analysis (Extended)
  • LM Heuristic Optimisation
  • Numerical Methods in Linear Algebra

Please note: The modules listed on the website for this programme are regularly reviewed to ensure they are up-to-date and informed by the latest research and teaching methods.

Fees and funding

Annual tuition fee for 2018/19: 

  • £11,160 for UK/EU students
  • £18,450 for international students

Learn more about fees and funding.

Scholarships and studentships

We offer a range of postgraduate scholarships for taught programmes and research opportunities to ensure the very best talent is nurtured and supported at postgraduate level.

Additional scholarships can be found in the funding database.

Contact the department for further information.

Entry requirements

2:1 Honours degree in Mathematics or a programme with advanced mathematical components. Learn more about entry requirements

International students

We accept a range of qualifications from different countries – learn more about international entry requirements. Standard English language requirements apply.

How to apply

International students requiring visas

Monday 2 July 2018 is the application deadline for international students who require a visa to study in the United Kingdom. We are not able to consider applications for 2018 made after this date; a new application should be made for September 2019. Applications will reopen for 2019 entry by 21 September 2018.

Before you make your application

You may wish to register your interest with us to receive regular news and updates on postgraduate life within this Department and the wider University.

Making your application

When clicking on the Apply Now button you will be directed to an application specifically designed for the programme you wish to apply for where you will create an account with the University application system and submit your application and supporting documents online. Further information regarding how to apply online can be found on the How to apply pages

Apply now

In the Autumn and Spring semesters, you will take masters-level courses in both computational methods and programming and statistical methods in economics, as well as computer science courses such as the Computer Science Workshop, in addition to the core quantitative finance and further quantitative finance modules which are needed for a career in financial engineering and computational finance. 

In the summer you will undertake a project, working with research leaders in mathematics and computer sciences. This will provide directly relevant training for a career in academic, and quantitative analysis in financial industry. A key component will be training specifically in independent study and research, an essential skill for quantitative analyst.

Career opportunities

Postgraduate study at the University of Birmingham is a chance to learn from world leaders in their fields. This guarantees you a first-class learning experience, leading to a qualification that is respected the world over and making you an attractive prospect in a very competitive job market.

This programme gives an ideal preparation for a career in quantitative analysis in economic or financial sectors with state-of-art mathematical methods, computational skills and programming expertise. The School’s graduates work in a wide variety of fields in governmental and multi-national organisations.

University Careers Network

Preparation for your career should be one of the first things you think about as you start university. Whether you have a clear idea of where your future aspirations lie or want to consider the broad range of opportunities available once you have a Birmingham degree, our Careers Network can help you achieve your goal.

Our unique careers guidance service is tailored to your academic subject area, offering a specialised team (in each of the five academic colleges) who can give you expert advice. Our team source exclusive work experience opportunities to help you stand out amongst the competition, with mentoring, global internships and placements available to you. Once you have a career in your sights, one-to-one support with CVs and job applications will help give you the edge.

If you make the most of the wide range of services you will be able to develop your career from the moment you arrive.