Program Overview
The MSc Mathematical Finance program at the University of Birmingham combines advanced mathematical and computational skills with financial analysis. Students can tailor their degree with optional modules and benefit from industry connections and career support. The program prepares graduates for quantitative roles in financial institutions, research, and other fields where mathematical modeling is essential.
Program Outline
Degree Overview:
This MSc in Mathematical Finance program, offered by the School of Mathematics at the University of Birmingham, is designed for graduates with a strong background in mathematics, science, or engineering who wish to apply their quantitative skills to financial analysis. The program aims to develop students' understanding of contemporary mathematical models and their application in the financial sector. It provides flexibility for students to tailor their degree with optional modules in areas that interest them.
Objectives:
- Develop the ability to apply mathematical and scientific knowledge to financial analysis, identifying, critically analyzing, and evaluating scenarios within the sector.
- Tailor the degree by choosing from optional modules in a range of areas.
- Train specifically in independent study and research, an essential skill for a quantitative analyst.
- Benefit from strong links with industry and Careers Network support, combining rigorous academic study with a practical focus, leading to excellent job opportunities.
Outline:
The program is structured as follows:
- Core Modules:
- Advanced Mathematical Finance (20 credits)
- Stochastic Processes (20 credits)
- Mathematical Finance Dissertation (60 credits)
- Optional Modules:
- Students are advised to split their module choices evenly, taking 60 taught credits during Semester 1 and 60 taught credits during Semester 2.
- Mandatory Modules:
- Mathematical Finance (20 credits, Semester 1)
- Financial Mathematics (20 credits, Semester 1)
- Optional Modules (Select 60 credits):
- Experimental and Behavioural Economics (10 credits, Semester 2)
- Integer Programming and Combinatorial Optimisation (20 credits, Semester 1)
- Interest Rate and Credit Risk Modelling (10 credits, Semester 1)
- Methods in Partial Differential Equations (20 credits, Semester 1)
- Nonlinear Programming I and Heuristic Optimisation (20 credits, Semester 1)
- Numerical Methods and Numerical Linear Algebra (20 credits, Semester 2)
- Quantitative Funds Management (10 credits, Semester 1)
- Risk, Uncertainty and Information (10 credits, Semester 2)
Careers:
Graduates from the MSc Mathematical Finance program are well-prepared for quantitatively demanding positions in financial institutions, with expertise in state-of-the-art mathematical methods, computational skills, and programming. They work in a wide variety of fields in governmental and multinational organizations. The degree also provides an ideal basis for postgraduate research, either for purely academic ends or to further qualify graduates for work in financial institutions.
Other:
- The program emphasizes the importance of independent study and research, which is an essential skill for quantitative analysts.
- The University of Birmingham is ranked in the top 100 in the 2021 QS World University Rankings.
- The University is number 2 in the United Kingdom for being most frequently targeted by the country's top employers (High Fliers Research 2020).
- The program is designed to equip students with the skills to assess and reduce risks when exploring investment opportunities in the face of uncertainty.
- The program is regularly reviewed to ensure it is up-to-date and informed by the latest research and teaching methods.
| Category | Annual tuition fee | ----- | ----- | | UK students | £13,770 | | International students £27,270 |