Program Overview

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MSc Mathematical Finance (online)

The MSc Mathematical Finance (online) is a distance learning program designed to equip students with the skills and knowledge required to work in the finance industry. The program is taught entirely online and builds on the strength and success of the campus-based MSc Mathematical Finance.

Course Overview

The program is 18 months part-time or 36 months part-time and is offered by the Department of Mathematics. The course has built-in flexibility to meet the needs of distance learners from diverse backgrounds, allowing students to study when it suits them.

Course Content

The online degree is split into three stages:

• Certificate Stage
• Diploma Stage
• Dissertation Stage

Students need to complete all three stages to achieve the MSc, but can exit earlier with either a Postgraduate Certificate or Postgraduate Diploma, depending on their progress.

Modules

The program includes the following modules:

• Mathematical Methods of Finance
• Discrete Time Modelling and Derivative Securities
• Portfolio Theory and Risk Management
• Stochastic Calculus and Black-Scholes Theory
• Numerical and Computing Techniques in Finance
• Modelling of Bonds, Term Structure and Interest Rate Derivatives
• Credit Risk

Dissertation

The dissertation stage involves conducting a piece of applied research on a selected topic of current interest in recent literature. Students will have regular online meetings with their academic supervisor who will offer advice and support.

Fees and Funding

The annual tuition fees for 2026/27 are:

• Part-time, distance learning (18 months): £9,020 per stage
• Part-time, distance learning (3 years): £9,020 per stage

Teaching and Assessment

The program is taught by world-leading academics who will challenge students to think independently and excel in all that they do. The teaching format includes:

• Online one-to-one tutorials
• Interactive presentations with video recordings
• Discussion forums
• Dissertations

Students will be assessed by regular coursework assignments throughout each module and a recorded online viva at the end of the Certificate and Diploma stages of the program.

Careers and Skills

Upon successful completion of this course, students can embark on careers in trading and pricing derivative financial securities, fund management, risk management, research and development, or pursue further study to PhD level.

Entry Requirements

The typical offer for this program is a 2:2 or equivalent in Mathematics or a relevant subject. Students may be required to complete the online pre-sessional course in Mathematics for Quantitative Finance with a final grade of at least 60%. If the undergraduate degree is in business, finance, or economics with a sufficiently strong mathematics background, students are encouraged to apply.

English Language

If English is not the student's first language, they may need to provide evidence of their English language ability. The minimum requirements are:

• IELTS (Academic and Indicator): 6.0, minimum 5.5 in each component
• Cambridge CEFR: B2 First: 169, with no less than 162 in each component
• Oxford ELLT: 6, minimum of 5 in each component
• Oxford Test of English Advanced: 126, minimum 116 in each component
• Duolingo: 105, minimum 95 in all other components
• LanguageCert SELT: B2 with 33/50 in each component
• LanguageCert Academic: 65 with a minimum of 60 in each component
• Kaplan Test of English Language: 444-477, with 410-443 in all other components
• Skills for English: B2: Pass with Merit overall, with Pass in each component
• PTE Academic: 55, minimum 51 in each component
• TOEFL: 79, minimum 17 in Listening, 18 in Reading, 20 in Speaking and 17 in Writing
• Trinity ISE III: Pass in all components

Learning Outcomes

The learning outcomes for this course include:

• Using a range of mathematical models to critically analyze financial securities
• Developing mathematical and numerical techniques involved in pricing, hedging, and analyzing derivative securities
• Applying logical reasoning as a basis for the critical analysis of ideas or statements with a mathematical finance context
• Communicating complex mathematical ideas clearly, both orally and in writing
• Designing numerical algorithms and developing computing codes to implement solutions
• Conducting in-depth research on a selected topic of current interest in recent literature

Research Excellence

The Department of Mathematics is a UK top 20 research department according to the Times Higher Education’s ranking of the latest REF results (2021). The program is informed by the latest research, meaning students can focus on the latest ideas and models.