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Mathematical FinanceMSc
- CampusBirmingham (Edgbaston)Delivery formatIn person
- Start dateSeptemberDuration1 year full-time
- AwardMaster of Science
- Entry requirements2:1 Honours Degree in Mathematics or a programme with advanced mathematical components.
- Fees£14,250 (full-time) / £5,450 (part-time)
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Page contents
Course overview
Open the door to a world of career opportunities with our Mathematical Finance Masters. Focusing on theory, this multidisciplinary programme will help you on your way to a PhD.
Gain a strong foundation in mathematical models and their applications, alongside sought-after advanced computational and programming techniques. You'll be ready to succeed in a globally growing financial field.
"The best thing about my course is being able to take modules from different Schools to expand my knowledge. This year I have been able to take modules from both the Business School and the School of Computer Science alongside my Maths modules and I think this has enhanced my understanding of financial mathematics and how it can be applied in the world."
Course structure
Join our 1 year full-time MSc programme comprising of taught modules during terms 1 and 2 followed by a Summer Dissertation. You'll be assessed using a combination of coursework and end of year examinations for taught modules.
You will take 60 credits of compulsory/optional modules across various areas of Mathematical Finance. All examinations will take place during the May/June main examination period. You'll attend 2 weekly lectures and 1 fortnightly guided study session for each 10 credit module equivalent. There are also regular MSc group tutorial meetings.
Course highlights
Develop your ability to apply mathematical and scientific knowledge to financial analysis, critically evaluating scenarios within the sector. Our course combines economic theory, mathematics, statistics and computer programming. You’ll learn to use software packages to analyse financial data and implement numerical models. You'll then have the knowledge to support decision making in the finance, healthcare, technology, and government sectors.
- Benefit from our strong industry connections and Careers Network support, combining rigorous academic study with practical experience.
- Master software packages for statistical analysis and empirical studies.
- Learn to solve complex financial problems in diverse and challenging environments.
- Gain essential skills in independent study and research, crucial for a career as a quantitative analyst.
Study at the School of Mathematics which is internationally recognised for its quality of research in various fields.
Course delivery
Our world-class research and a vibrant, global student community are at the heart of our School of Mathematics. You'll take part in tutorials and projects to consolidate your learning. In the third term, you'll work with your personal supervisor to conduct a research project.
- Learn about cutting-edge developments in your chosen areas of interest, with lectures delivered by world-leaders in their fields.
- Receive tailored guidance and feedback in tutorials, enabling you to tackle specific challenges and enhance comprehension of the material.
- Participate in projects that bridge theoretical knowledge with practical applications, enhancing your understanding and retention of concepts.
- Enhance your critical thinking and problem-solving abilities through practical assignments that will challenge you to tackle real-life issues independently.
Module information
The programme is a 1 year full time taught masters degree (180 credits) consisting of 120 credits of taught modules and a 60 credit summer project. The dissertation is completed under the direction of a project supervisor which will give you the opportunity to work one-to-one with a leading expert in their field.
The modules listed for this programme are regularly reviewed to ensure they are up-to-date and informed by the latest research and teaching methods.
The optional module information listed for this programme is intended to be indicative, and the availability of optional modules may vary from year to year. Where a module is no longer available we will let you know as soon as we can and help you to make other choices.
2025/26
Core modules
The following must be taken:
| Module Title | Credits | Semester |
|---|---|---|
| LM Advanced Mathematical Finance | 20 | Semester 2 |
| LM Stochastic Processes | 20 | Semester 1 |
Students must also take this module:
| Module Title | Credits | Semester |
|---|---|---|
| LM Mathematical Finance Dissertation | 60 |
Optional modules
Students are strongly advised to evenly split their module choices so that they take 60 taught credits during Semester 1 and 60 taught credits during Semester 2.
| Module Title | Credits | Semester |
|---|---|---|
| LM Financial Mathematics | 20 | Full Term |
| LM Mathematical Finance | 20 | Full Term |
Students must choose 60 credits from the following:
| Module Title | Credits | Semester |
|---|---|---|
| LM Experimental and Behavioural Economics | 10 | Semester 2 |
| LM Integer Programming and Combinatorial Optimisation | 20 | Full Term |
| LM Interest Rate and Credit Risk Modelling | 10 | Semester 1 |
| LM Methods in Partial Differential Equations | 20 | Full Term |
| LM Nonlinear Programming I and Heuristic Optimisation | 20 | Full Term |
| LM Numerical Methods and Numerical Linear Algebra | 20 | Full Term |
| LM Quantitative Funds Management | 10 | Semester 1 |
| LM Risk, Uncertainty and Information | 10 | Semester 2 |
| Statistical Methods in Finance and Economics | 20 | Full Term |
Entry requirements
To gain a place at Birmingham you will need to meet our general entry requirements, as well as those specific to your course. Your application will be reviewed by the course’s Admissions Tutor, who will decide whether your application should receive an offer.
- 2:1 Honours Degree
In Mathematics or a programme with advanced mathematical components.
English language requirements
If you are an international student, you will need to demonstrate you have a suitable level of English proficiency, usually through the form of an IELTS or equivalent qualification.
For this course we require IELTS 6.0 with no less than 5.5 in any band, which is equivalent to:
- TOEFL: 80 overall with no less than 19 in Reading, 19 Listening, 21 Speaking and 19 in Writing
- Pearson Test of English (PTE): Academic 64 with no less than 59 in all four skills
- Cambridge English: C1 Advanced - minimum overall score of 169, with no less than 162 in any component
- LanguageCert ESOL SELT (UKVI): B2 'Communicator' with no less than 25 in each skill
Fees and scholarships
- £14,250
Full-time
- £5,450
Part-time
Postgraduate Masters Loan
To help with the cost of studies, this loan is available to all UK students. You can use this loan towards fees, maintenance or other costs at your own discretion. It’s available for all full-time, part-time and distance learning Masters programmes, as long as you don’t already have a Masters qualification (or equivalent).If you’re a student from Wales, Scotland or Northern Ireland, you can apply for Masters loans from your country’s government.
Scholarships
To help you afford your studies, we’ve put more than £33 million into student support and scholarships. We also offer a range of advice on searching for funding and managing your finances.
Birmingham Masters Scholarships
We want to welcome the brightest talent to our postgraduate community. That’s why our Birmingham Masters Scholarships award £3,000 to more than 300 students each year.
Application process
To apply for a postgraduate programme, you will need to submit your application and supporting documents online.
Select whether you are a UK student or an international student for relevant application deadlines.
- 31 August 2025
Application deadline for UK and non-tier 4 applicants. We will close applications as soon as the programme is full. Early applications are encouraged.
We have put together some helpful information on the taught programme application process and supporting documents. Please read this information carefully before completing your application.
Career opportunities
Our course equips you with state-of-the-art mathematical methods, computational skills, and programming expertise, making you ideal for quantitative positions in financial institutions. Our programme is a great stepping stone for postgraduate research.
Student experience
At Birmingham, your university experience isn’t just about studying. You will have the opportunity to discover new experiences, develop different skills and make friends for life.
Our bustling campus with its beautiful grounds, friendly community and excellent facilities will quickly make you feel at home. We offer you a huge variety of accommodation options in the UK’s second city, exciting activities to get involved in outside your studies, as well as all the support and advice you need.
Accommodation
Coming to Birmingham to study might be your first time living away from home. Our student accommodation will allow you to enjoy your independence in safe, welcoming and sociable surroundings.
Living in Birmingham
As one of the original pioneering cities, Birmingham has developed into a melting pot for shopping, food and drink, nightlife, sport, culture, and industry. It’s no wonder our students fall in love with the city.
Campus life
Our green and spacious campus is the place where our diverse community comes together to learn, relax and socialise. Like a town of its own, just minutes from the hustle and bustle of the UK’s second city.
Student support
Whoever you are and wherever you come from, we are committed to providing the best possible support to all of our students, both before you start and throughout your time on campus, so that you can get the most out of your university experience.
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