MSc Mathematics and Finance
Start date: October 2017
Campus: South Kensington
ECTS: 90-93.4 credits
1 year full-time
2 years part-time
This course is designed to prepare students for a wide range of careers in quantitative finance and risk management.
Mathematical finance is a subject that is both mathematically challenging and deployed every day by sophisticated practitioners in the financial markets.
This course aims to provide you with everything you need to get into this area at a level where you can understand – and contribute to – industry practice and the latest research. To do this, the modules we offer are orientated in different ways. Some give the necessary finance and economics background; others provide instruction in fundamental mathematics (stochastic analysis, partial differential equations, etc.).
Scientific computing (object-orientated programming in C++) is an integral part of the programme.
Modules shown are for the current academic year, and are subject to change depending on your year of entry.
You take all of the core modules below.
- Advanced Methods in Derivatives Pricing
- Computing in C++ I: Programming in C
- Computing in C++ II: Object oriented programming
- Interest Rate Models
- Mathematical Finance: an introduction to Option Pricing Theory
- Quantitative Risk Management
- Simulation Methods for Finance
- Statistical Methods in Finance
- Stochastic Processes
You choose two modules from below.
- Algorithmic Trading and Machine Learning
- Convex Analysis and Optimisation
- Dynamic Portfolio Theory
- Fixed Income Markets
- Lévy Processes: Theory and Applications
- Numerical Methods for Finance
- Stochastic Differential Equations
A supervised thesis project lasting four months takes place towards the end of the programme. Our intention is that most projects will be carried out in association with a bank, finance house, hedge fund, consultancy or systems provider in the finance industry, and we endeavour to arrange suitable placements.
The project may be an internship, where you work full-time, or a collaborative arrangement where you work at the College and visit the company on a regular basis for project discussions.
Whichever route you choose, you will be assigned an academic project supervisor who will be a member of staff of the Mathematical Finance section.
Tuition fees and funding
The level of tuition fees you pay is based on your fee status, which we assess based on UK government legislation.
For more information on the funding opportunities that are available, please visit our Fees and Funding website.
Tuition fees (Home and EU students)
Tuition fees (Islands and Overseas students)
Postgraduate Master's loan
If you are a Home or EU student who meets certain criteria, you may be able to apply for a Postgraduate Master’s Loan of up to £10,000 from the UK government. The loan is not means-tested, and you can choose whether to put it towards your tuition fees or living costs.
We offer a range of scholarships for postgraduate students to support you through your studies. Try our scholarships search tool to see what you might be eligible for.
There are a number of external organisations also offer awards for Imperial students, find out more about non-Imperial scholarships.
Accommodation and living costs
Living costs, including accommodation, are not included in your tuition fees.
You can compare costs across our different accommodation options on our Accommodation website.
A rough guide to what you might expect to spend to live in reasonable comfort in London is available on our Fees and Funding website.
We welcome students from all over the world and consider all applicants on an individual basis.
For advice on the requirements for the qualifications listed here please contact the Department (details at the bottom of this page).
We also accept a wide range of international qualifications. If the requirements for your qualifications are not listed here, please see our academic requirements by country page for guidance on which qualifications we accept.
Minimum academic requirement
Minimum of a high 2:1 Honours degree in mathematics or a good First Class Honours degree in a physical science with a strong mathematical content, i.e. with a majority of mathematics modules and an emphasis on analysis, probability, statistics and differential equations.
In most cases, degrees in Accounting, Economics, Finance, Business or Management will not meet our entry requirements.
The academic requirement above is for applicants who hold or who are working towards a UK qualification.
We also accept a wide variety of international qualifications. For guidance see our Country Index though please note that the standards listed here are the minimum for entry to the College.
If you have any questions about admissions and the standard required for the qualification you hold or are currently studying then please contact the relevant admissions team.
English language requirement (all applicants)
All candidates must demonstrate a minimum level of English language proficiency for admission to the College.
For admission to this course, you must achieve the standard College requirement in the appropriate English language qualification. For details of the minimum grades required to achieve this requirement, please see the English language requirements for postgraduate applicants.
How to apply
All applicants must apply online.
You can usually apply for up to two courses, although your second choice will only be considered if your first-choice application is unsuccessful.
Most courses don't have a formal closing date, but popular courses close when they are full, so you should apply early to avoid disappointment. There may also be funding deadlines that apply to you.
You will need to upload documents with your applications, which may include transcripts and degree certificates.
Offer holders will need to pay a deposit to secure your place. This will be deducted from the balance of your tuition fees.
For full details on the online application process, or to start your application, please visit the How to Apply section of our website.
An ATAS certificate is not required for overseas students applying for this course.