MSc Mathematical Finance / Course details

Year of entry: 2021

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Course description

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.

Coursework and assessment

Teaching is shared by the Department of Mathematics and Alliance Manchester Business School, and delivered through lectures, case studies, seminars and group project-based work.

Course unit details

There are (i) eight course units to attend over two academic terms and (ii) a dissertation project to be completed in the summer term. Teaching of the course units is shared by the School of Mathematics and the Manchester Business School and delivered through lectures, case studies, seminars and group project-based work.

First term course units (autumn): Derivative Securities; Asset Pricing Theory; Martingales Theory for Finance; Stochastic Calculus.

Second term course units (spring): Brownian Motion; Computational Finance; Stochastic Control with Applications to Finance; Stochastic Modelling in Finance.

Third term dissertation project (summer): In this term students will conduct an original study of a topic relating to the programme and write an MSc dissertation.

Course unit list

The course unit details given below are subject to change, and are the latest example of the curriculum available on this course of study.

TitleCodeCredit ratingMandatory/optional
Derivative Securities BMAN70141 15 Mandatory
Asset Pricing Theory BMAN70381 15 Mandatory
Computational Finance MATH60082 15 Mandatory
Stochastic Calculus MATH67101 15 Mandatory
Brownian Motion MATH67112 15 Mandatory
Martingales Theory for Finance MATH67201 15 Mandatory
Stochastic Modelling in Finance MATH69102 15 Mandatory
Stochastic Control with Applications to Finance MATH69122 15 Mandatory

Additional fee information

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.

If you are being sponsored by an external funding body and have any additional requirements to support external sponsorship or funding please get in touch with the department.

Facilities

The Department of Mathematics is one of the largest integrated departments of mathematical sciences in the UK with an outstanding reputation and superb  facilities .

Disability support

Practical support and advice for current students and applicants is available from the Disability Advisory and Support Service. Email: dass@manchester.ac.uk