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Mathematical Finance Masters/MSc

Start date
September
Duration
1 year full-time
Course Type
Postgraduate, Taught
Fees
We charge an annual tuition fee. Fees for 2024/25:
£13,770 - UK students
£27,270 - International students
Further fee information is available.

This programme, offered by the School of Mathematics, provides the skills that will enable technically able graduates (including in mathematics, science and engineering) to apply their quantitative training to financial analysis.

Scholarships for 2024 entry

The University of Birmingham is proud to offer a range of scholarships for our postgraduate programmes. With a scholarship pot worth over £2 million, we are committed to alleviating financial barriers to support you in taking your next steps.

Each scholarship has its own specific deadlines and eligibility criteria. Please familiarise yourself with the information on individual scholarship webpages prior to submitting an application.

Explore our scholarships

Mathematical Finance is a multidisciplinary field that involves the application of economic theory, mathematics, statistics and computer programming skills, to analyse and manage financial opportunities. Our MSc in Mathematical Finance develops your understanding of contemporary mathematical models and their application in the financial sector, whilst providing the flexibility to tailor your degree with optional modules in areas that interest you.

You will take core modules in mathematical finance and stochastic processes, and then choose from topics offered by the School of Mathematics, the Department of Economics, and the School of Computer Science. This programme will support you to achieve the highest levels in mathematical finance, developing the most advanced computational and programming techniques. With the skills and knowledge developed on this course you will be well-placed to advance quickly in a field where there is a growing global shortage of highly qualified people.

Why study Mathematical Finance MSc at Birmingham?

  • Develop your ability to apply mathematical and scientific knowledge to financial analysis, identifying, critically analysing and evaluating scenarios within the sector
  • Learn to use software packages to analyse financial data and to implement numerical models
  • Tailor your degree by choosing from optional modules in a range of areas
  • Train specifically in independent study and research, which is an essential skill for a quantitative analyst
  • Learn at an internationally-recognised university ranked in the top 100 in the 2021 QS World University Rankings
  • Benefit from our strong links with industry and Careers Network support, meaning that rigorous academic study is combined with a real practical focus, leading to excellent job opportunities
  • Join a university that is number 2 in the United Kingdom for being most frequently targeted by the country’s top employers (High Fliers Research 2020).

Chat with our postgrads

Shaunagh at graduationThe best advice about studying a Masters or PhD at Birmingham comes from our students. Our friendly and welcoming postgraduate students are ready and waiting to chat and share their thoughts on our courses, stunning campus and life in a vibrant and cultural city.

Chat with Shaunagh

We live in a global world where random events can have a significant impact on the global economy. Our MSc in Mathematical Finance develops mathematical and computational skills so that our students are fully prepared to assess and reduce risks when exploring investment opportunities in the face of uncertainty.

Dr David Leppinen, Senior Lecturer in Mathematics

Modules

Core modules

Optional modules

You are strongly advised to evenly split your module choices so that you take 60 taught credits during Semester 1 and 60 taught credits during Semester 2

You must take on the following modules. It is recommended that you take Mathematical Finance unless you have previously taken a previous undergraduate course in Mathematical Finance.

Select 60 credits of options, example modules listed below:

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

Annual tuition fee for 2023/24

  • £13,770 - UK students
  • £27,270 - International students

Are you an international applicant?

All international applicants to this course will be required to pay a non-refundable deposit of £2,000 on receipt of an offer, to secure their place.

Find out more about the deposit >>.

Postgraduate Loans (PGL) for Masters students

UK and EU students (with settled or pre-settled status) looking to pursue a Masters programme in the UK can apply for a non-means-tested loan from the British government via the Student Loans Company (SLC).

The loan will be paid directly to you, into a UK bank account. It is intended to provide a contribution towards the costs of Masters study and whether the loan is used towards fees, maintenance or other costs is at your own discretion.

Learn more about applying for PGL 

 

Scholarships

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.

Scholarships for 2024 entry

The University of Birmingham is proud to offer a range of scholarships for our postgraduate programmes. With a scholarship pot worth over £2 million, we are committed to alleviating financial barriers to support you in taking your next steps.

Each scholarship has its own specific deadlines and eligibility criteria. Please familiarise yourself with the information on individual scholarship webpages prior to submitting an application.

Explore our scholarships

 

How To Apply

International applicants requiring visas

Applications to this programme from students who are international for fees will close 30 June 2024. We will close applications as soon as the programme is full, early applications are encouraged.

UK and non-Tier 4 applicants

Applications will close 31 August 2024. We will close applications as soon as the programme is full, early applications are encouraged.

How to apply

To apply for a postgraduate taught programme, you will need to submit your application and supporting documents online. We have put together some helpful information on the taught programme application process and supporting documents on our how to apply page. Please read this information carefully before completing your application.

Apply now

Our Standard Requirements

2:1 Honours degree in Mathematics or a programme with advanced mathematical components.

Students from JBJI who obtain a minimum 2:1 and the IELTS English (mandatory to obtain the Degree) will have automatic acceptance onto this programme.

Learn more about entry requirements. 

International Requirements



International Students

English language

For students whose first language is not English, one of the following English language qualifications is required:

 
  • IELTS 6.0 with no less than 5.5 in any band
  • TOEFL: 80 overall with no less than 19 in Reading, 19 in Listening, 21 in Speaking and 19 in Writing
  • Pearson Test of English (PTE) including online: Academic 64 with no less than 59 in all four skills
  • Cambridge English (exams taken from 2015): Advanced – minimum overall score of 169, with no less than 162 in any component

You will take 60 taught credits of masters-level courses in each of Semester 1 and Semester 2. Core modules will develop your understanding of scientific and engineering programming, and advanced mathematical models in Mathematical Finance. You will take 60 credits of optional modules across economic, mathematical and financial topics to allow you to shape your degree to meet your career aims.

You will also undertake a 60-credit summer dissertation, working with research leaders in mathematics. This will provide directly relevant training for a career in academic, and quantitative analysis in the financial industry. You will train specifically in independent study and research, an essential skill for quantitative analysts.

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.

Graduates from MSc Mathematical Finance are well prepared to compete for quantitatively demanding positions in financial institutions, 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.

The degree also provides an ideal basis for postgraduate research, either for purely academic ends or to further qualify graduates for work in financial institutions.

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.