Mathematical finance is an area of applied mathematics where concepts and techniques that lie close to the heart of pure mathematics are applied routinely to solve a great variety of important practical problems arising in the day-to-day business of financial institutions. The objective of the MSc in Financial Mathematics is to guide students through to a mastery of the sophisticated mathematical ideas underlying modern finance theory, along with the associated market structures and conventions, with emphasis on: (a) the modelling of financial assets, both in equity markets and in fixed-income markets; (b) the pricing and hedging of options and other derivatives; and (c) the quantification and management of financial risk.
However, mathematical skills alone are not sufficient to implement mathematical ideas in practice. You need numerical and computational methods if you want to put theory into practice and work for a financial institution. We therefore offer a programme that provides a balanced mixture of advanced mathematics (probability theory, stochastic calculus, etc), modern finance theory (derivatives, interest rates, foreign exchange, etc), and computational technique (GPU-based high-performance computing).
The MSc in Financial Mathematics offers a range of exciting modules during the Autumn and the Spring terms, followed by a research project leading to a dissertation to be completed during the Summer term.
The modelling and management of financial risk is an expanding field worldwide, offering numerous opportunities for fulfilling and engaging careers. Our graduates will be well positioned for pursuing jobs in a number of different areas of financial modeling and risk management in the financial services industry, with employment prospects in banks, asset management firms, hedge funds, insurance companies, exchanges, corporate and sovereign treasuries, financial software developers, financial regulators, and financial publishing houses. There is also a demand in financial institutions for well qualified mathematically literate graduates with higher degrees for positions in the trading, structuring and marketing of financial products.