MSc Mathematical Finance / Overview
Year of entry: 2023
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- Degree awarded
- Master of Science
- 12 Months. [Full-Time]
- Entry requirements
Formal entry requirements are listed here but since applicants come from many different backgrounds, it will be useful to consider yourself whether you feel as if you have the right background for the course. Some general expectations are listed below, with references to existing courses on that material in Manchester. It should hopefully give you a feel for the course and what is expected of the incoming student. We would only consider a few of these courses as absolutely essential, but some additional background is desirable and will certainly assist you greatly for course preparation. If in doubt then please contact us.
- A good background in Probability Theory is essential; for example two courses in Probability, Probability 1 and Probability 2.
- Knowledge of Statistics is highly desirable, for example Introduction to Statistics. More advanced courses in Probability are highly desirable, for example Foundations of Modern Probability.
- Knowledge of measure-theoretical Probability and/or measure theory is desirable as well. An introduction to Markov processes is desirable but not essential, for example Random models or Markov processes, but not essential.
- Knowledge of real analysis is essential and of complex analysis is desirable, for example Real and Complex Analysis.
- Knowledge of basic calculus, for example Calculus and Vectors A, and ordinary differential equations is essential, Calculus and Applications A.
- Knowledge of partial differential equations is highly desirable, for example Partial Differential Equations and Vector Calculus A.
- Knowledge of solving partial differential equations numerically is desirable but not essential.
- Although there is no formal requirement for previous programming experience, a familiarity with writing computer programs (for example, in Python, MATLAB, C/C++ or Java) is desirable.
- How to apply
- Apply online
As there is high demand for this course we operate a staged admissions process with selection deadlines throughout the year. Due to the competition for places, we give preference to students with grades above our minimum entry requirements. If we make you an offer, you will have 3 weeks in which to accept. Any offers not accepted within 3 weeks will be withdrawn so that an offer can be made to another candidate.
Please find more information in our Application and Selection section.
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The Department of Mathematics and Alliance Manchester Business School at the University of Manchester have combined their academic strength and practical expertise to deliver the MSc in Mathematical Finance (UK 1 year), ensuring that students can experience both the mathematical and economic perspective of the subject.
The course provides students with advanced knowledge and understanding of the main theoretical and applied concepts in Mathematical Finance delivered from a genuinely international and multi-cultural perspective with a current issues approach to teaching. The focus is on mathematical theory and modelling, drawing from the disciplines of probability theory, scientific computing and partial differential equations to derive relations between asset prices and interest rates, and to develop models for pricing, risk management and financial product development.
The finance industry demands recruits with strong quantitative skills and the course is intended to prepare students for careers in this area. The course provides training for those who seek a career in the finance industry specialising in derivative securities, investment, risk management and hedge funds. It also provides research skills for those who subsequently wish to pursue research and/or an academic career (e.g. university lecturer) or continue the study at doctoral level, particularly those wishing to pursue further/advanced studies in Mathematical Finance.
For entry in the academic year beginning September 2023, the tuition fees are as follows:
UK students (per annum): £14,500
International, including EU, students (per annum): £30,500
Further information for EU students can be found on our dedicated EU page.
The fees quoted above will be fully inclusive for the course tuition, administration and computational costs during your studies.
All fees for entry will be subject to yearly review and incremental rises per annum are also likely over the duration of courses lasting more than a year for UK/EU students (fees are typically fixed for International students, for the course duration at the year of entry). For general fees information please visit: postgraduate fees . Always contact the department if you are unsure which fee applies to your qualification award and method of attendance.
Self-funded international applicants for this course will be required to pay a deposit of £1000 towards their tuition fees before a confirmation of acceptance for studies (CAS) is issued. This deposit will only be refunded if immigration permission is refused. We will notify you about how and when to make this payment.
Policy on additional costs
All students should normally be able to complete their programme of study without incurring additional study costs over and above the tuition fee for that programme. Any unavoidable additional compulsory costs totalling more than 1% of the annual home undergraduate fee per annum, regardless of whether the programme in question is undergraduate or postgraduate taught, will be made clear to you at the point of application. Further information can be found in the University's Policy on additional costs incurred by students on undergraduate and postgraduate taught programmes (PDF document, 91KB).
For more information, see the Department of Mathematics Fees and funding page or visit the University of Manchester funding for master's courses website for more information.
- Department of Mathematics
- Contact name
- Postgraduate Admissions Team
- +44 (0)161 529 3043
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