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This programme is based in the Department of Mathematics, and is taught in collaboration with the Department of Finance and the Department of Statistics. The programme provides high level instruction in the mathematical theory underlying finance, and training in appropriate computational methods. It offers the following benefits:
* Study in a leading university, internationally renowned for its research and teaching programmes.
* Focus on the development of student understanding of quantitative methodologies and techniques that are important for a range of jobs in investment banks and other financial institutions.
* Research-led teaching that aims at enhancing students' critical appreciation of major issues and emerging theory in the area of financial mathematics.
* Preparation for a range of careers in the financial sector, industry and research.
* Opportunity to improve personal skills, including logical reasoning, quantitative analysis, independent learning and the presentation of technical results.
This programme aims to develop students' understanding of the foundations of financial mathematics, and to equip them with knowledge of a range of mathematical and computational techniques that are required for a variety of quantitative positions in the financial sector.
It draws on LSE's strengths in finance and related areas, and includes compulsory and optional courses given by the Department of Mathematics, the Department of Finance and the Department of Statistics.
This MSc is mathematically advanced, and applicants should have a very strong mathematics background and a minimum of a BSc degree of first or good upper-second class in mathematics or a mathematics-based subject, or an equivalent qualification. Prior knowledge of finance or computing is not required.
The programme starts with a compulsory pre-sessional course, the purpose of which is to consider a number of elementary issues in finance and to review some key concepts and techniques of relevant mathematical theory, such as probability. The pre-sessional course also includes an introduction to programming in C++.
Students are required to take courses to the value of 4 full units.
The programme starts with a compulsory pre-sessional course, the purpose of which is to introduce some key concepts and techniques of relevant mathematical theory, such as probability. The pre-sessional course also includes an introduction to programming in C++.
Students are required to take courses to the value of 4 full units.
(* half unit)
* The Mathematics of the Black and Scholes Theory*
* The Foundations of Interest Rate, Foreign Exchange, and Credit Risk Theory*
* Stochastic Processes*
* Fixed Income Markets*
* Computational Methods in Finance*
Choose to a total of one and half units:
At least one from:
* Computational Learning Theory and Neural Networks*
* Game Theory I*
* Algorithms and Computation*
* Continuous-Time Optimisation*
* Information, Communication and Cryptography*
* Probability and Measure*
* Stochastic Analysis*
* Preferences, Optimal Portfolio Choice, and Equilibrium*
* Search Games*
Up to two from:
* Financial Risk Analysis*
* Forecasting Financial Time Series*
* Quantitative Methods for Finance and Risk Analysis*
* Portfolio Management*
* International Finance*
* Principles of Finance
* Time Series*
* Any other course, with the agreement of the course lecturer and the programme director
Fee reductions and rewards
LSE undergraduates starting taught postgraduate study at the School are eligible for a fee reduction in the region of ten per cent of the fee. These reductions are available for UK, EU and non-EU students. The School offers a range of rewards for early payment of fees for all self-financed students.
Scholarships for study at LSE
LSE makes available over £12 million annually in financial support for its students via a range of scholarships, bursaries and award schemes, details of which can be found on these pages. LSE's world class programmes attract a consistently high calibre of applicants, many of whom seek financial support from the School, so there is always much competition for our awards. Securing the necessary funds to attend LSE can be a difficult and time consuming process so you should start to think about it as early as possible. Please be aware that the School will be unable to offer you any financial assistance if you knowingly register under funded. The relevant link on the left will take you to the awards available for your chosen level of study.
The School would like to thank the many donors who have contributed to the New Futures Fund, which provides funds for a number of discretionary scholarships.
Diploma, LLM, MA, MSc and MSc (Research) programmes
There are a range of awards available for study at this level. Approximately 19% of taught masters offer holders are successful in obtaining some form of financial support from the School. The value of support ranges in value from 10% of the tuition fee to a full fees and maintenance award.
Graduate Support Scheme
LSE's major financial support scheme for study at taught masters level is the Graduate Support Scheme (GSS). This scheme is open to all applicants, with the exception of those undertaking specific modular or executive programmes such as the MSc in Finance (Part time) or the MSc in Health Economics, Policy and Management. Around £2 million is available annually in the form of awards from the Graduate Support Scheme. The Scheme is designed to help students who do not have sufficient funds to meet all their costs of study. GSS awards range in value from £3,000 to a maximum of £10,000, and have an average value of £6,000. Application to the Graduate Support Scheme is via the LSE Graduate Financial Support Application form. This form will be made available to you once you have submitted an application for admission to the School. The form will then be available until 27 April 2011.
If you complete the LSE Graduate Financial Support Application form, and are made an offer of admission by 27 April 2011, you will also be automatically considered for any other awards being offered by LSE, for which you are eligible, with the exception of Arts and Humanities Research Council (AHRC) and Economic and Social Research Council (ESRC) funding where there are separate, department led processes in place. AHRC and ESRC funding is relevant to Home UK and Home EU applicants only, and there are also subject restrictions in place. We offer a range of awards based on different criteria such as a specific programme of study, nationality, or country of permanent domicile. In addition, a number of external organisations offer funding to support postgraduate study. We recommend that applicants follow up as many avenues as possible to find funding. Please be aware that if you accept funding from an external source, it is your responsibility to check the terms of the award. Some awards are accompanied by specific terms and conditions which you should be sure you able to meet before accepting the award. Information about other Awards offered by LSE or external organisations. Please take some time to look at all the other awards available to support your study at LSE. The details of these awards are updated each October, but new LSE awards may become available during the course of the admissions cycle. We will only write to successful applicants for these awards. Selection for these awards will take place between May and July 2011 and all successful applicants will be notified by 31 July 2011.