Mathematical Finance

The Master's degree program in Mathematical Finance at Kiel University is a comprehensive and interdisciplinary program designed to equip students with advanced skills in financial mathematics, quantitative analysis, and risk management. This programme caters to students who aspire to pursue careers in the finance industry, including banking, asset management, insurance, and financial consulting, as well as those interested in academic research or doctoral studies.

The curriculum combines rigorous mathematical theory with practical applications, emphasizing computational techniques, statistical modeling, and financial engineering. Students will gain a deep understanding of stochastic processes, financial derivatives, numerical methods, and the quantitative tools necessary to analyze complex financial markets. The program offers a balanced mix of core coursework, specialized electives, and practical projects, fostering the development of analytical thinking, problem-solving abilities, and data-driven decision making.

The program benefits from Kiel University's strong research orientation and collaboration with industry partners, providing students opportunities for internships, networking, and applied research projects. The faculty's expertise spans applied mathematics, financial economics, and risk management, ensuring students receive a high-quality education grounded in both theory and practice. The program is taught in English, attracting international students and providing a multicultural academic environment.

Graduates of the Master's in Mathematical Finance are well-prepared for demanding roles in the financial sector, featuring positions such as quantitative analyst, risk manager, financial engineer, or researcher. They also possess a solid foundation for pursuing doctoral studies in mathematics, economics, or finance, further enhancing their academic credentials.

Kiel University's program emphasizes innovative teaching methods, a modern curriculum aligned with the latest industry standards, and a supportive learning environment. Students benefit from state-of-the-art facilities, access to relevant software tools, and participation in conferences and workshops. Upon successful completion of the program, graduates will be equipped with essential theoretical knowledge and practical skills to excel in the dynamic world of financial mathematics, making the Kiel University Master's in Mathematical Finance an excellent choice for aspiring financial professionals and researchers.

Educational organisation

Please see: http://www.math.uni-kiel.de/mathfinance

Course objectives

Why should I study Mathematical Finance?
Graduates in Mathematical Finance benefit from excellent career prospects involving challenging tasks. These require a high level of mathematical and financial engineering skills, which are acquired in this programme. Mathematical Finance is - notably in times of financial crisis - highly relevant for good governance and sharpens the judgement of decision-makers. The finance industry continually employs graduates, e.g., as so-called quants. Their sophisticated skills are in high demand, in particular as regulatory statutes become more and more complex.

Language requirements

Due to the fact that the programme is taught primarily in English, the following requirements concerning the level of language command have to be met:

• good reading skills (C1 CEFR) in English, evidenced by the school certificate (minimum of four years of English, at least with grade "satisfactory") or
• TOEFL Test (550 paper-based, or equivalent test result) or
• Bachelor's degree with English as language of instruction

Academic requirements

• Bachelor's degree (180 ETCS credit points) in mathematics with grade 3.0 or better, provided that contents, extent, and scientific level are comparable to BSc in mathematics from Kiel University, or
• Bachelor's degree (180 ETCS credit points) in another subject with grade 2.5 or better, if at least 30 credit points in analysis, linear algebra, probability theory, and statistics, again with grade 2.5 or better (If necessary, admission can be granted conditionally on taking additional Bachelor's courses in the first two semesters.)
• In any case, be aware that the mathematical level in the Master's programme Mathematical Finance is very high. For an alternative Master's programme with a stronger focus on economics rather than mathematics, cf. Quantitative Finance: https://www.wiso.uni-kiel.de/en/studying/master/quantitative-finance
• Precise prerequisites can be found in §16 of the Fachprüfungsordnung (presently only in German: http://www.studservice.uni-kiel.de/sta/fachpruefungsordnung-mathematik-und-finanzmathematik-bachelor-master-1-fach.pdf)

---

Want to improve your English level for admission?

Prepare for the program requirements with English Online by the British Council.

• ✔️ Flexible study schedule
• ✔️ Experienced teachers
• ✔️ Certificate upon completion

📘 Recommended for students with an IELTS level of 6.0 or below.

Enroll in the course

Enrolment fees

An enrolment fee ("Einschreibegebühr") currently amounting to 55 EUR is charged for the first enrolment at Kiel University.
A semester contribution ("Semesterbeitrag") currently amounting to approx. 120 EUR must be paid each semester. This covers free public transport ("Semesterticket"), reduced lunch prices, and other financial benefits for students.
For the latest information, see: www.studium.uni-kiel.de/de/studium-organisieren/studienangelegenheiten/rueckmeldung

Costs of living

Monthly expenses in Kiel (e.g., for housing, food) range between 700-800 EUR, depending on individual needs.

Arrival support

The International Center at Kiel University offers a wide range of services and will support international students with any questions related to a successful arrival in Kiel.
See: http://www.international.uni-kiel.de/en

Services and support for international students

The International Center at Kiel University offers a wide range of services.
See: http://www.international.uni-kiel.de/en

Accommodation

Accommodation in Kiel is available through the office for student affairs ("Studentenwerk Schleswig-Holstein") or on the private market. Looking for a place to stay in a foreign country is not always easy. The office for student affairs supports students seeking accommodation at reasonable prices and is continually improving the quality and standard of the residence halls.
In general, the chances of obtaining a room in a residence hall can be improved by submitting an application form before 15 June. The rent depends on the location and standard of the particular residence.
Please note that due to high demands for accommodation in Kiel, the office for student affairs can currently only assign rooms in residence halls to first-semester students (Bachelor's/Master's students). PhD students cannot be assigned rooms.

For information and to contact us, see: http://www.studentenwerk.sh