Mathematical Finance

Study mode:Online Study type:Part-time Languages: English
Local:$ 12.8 k / Year(s) Foreign:$ 14.9 k / Year(s) Deadline: Aug 25, 2024
1 place StudyQA ranking:1213 Duration:3 years

Photos of university / #oxford_uni

The main aim of the part-time MSc in Mathematical Finance is to develop students' mathematical modelling, data analysis and computational skills in applications to finance. The MSc course covers the most important technical and quantitative aspects of finance in regular use in banks and other financial institutions, from basic material to current research.

The MSc covers material on mathematics and related subjects to give students a thorough grounding in the discipline and to enable them to make intellectual links between different topics. There is a substantial interaction with ideas from applied mathematics, pure mathematics, statistics, computing and corporate finance.

Structured for those in full-time employment in the UK or overseas, the course will help you to develop skills to enhance and progress your career without the necessity of taking a career break:

  • the course is delivered in a series of intensive week-long modules based in Oxford, so that time away from work is kept to a minimum; 
  • the course allows students to choose advanced modules based on, and write an academic dissertation in, an area of relevance to their career;
  • the course content is regularly updated to reflect the ever-changing industry and keep the material relevant;
  • the course is taught by a panel of world-leading academics and industrial practitioners; and
  • it is possible to exit the course early and be awarded the Postgraduate Diploma in Mathematical Finance, should work pressures be such to prevent the dissertation being written.

The MSc in Mathematical Finance builds on a strong quantitative background to educate students in state-of-the-art mathematical and quantitative finance. In order to complete the MSc each student must attend and be assessed on four core modules, three advanced modules and to submit a dissertation. Students are expected to take seven terms (28 months) to complete the course. 

Modules are taught through a series of lectures, practical sessions, guided reading, guest lectures and course assignments. 

The core modules cover the mathematical foundations of probability, statistics and partial differential equations, stochastic calculus and martingale theory, portfolio theory, the Black-Scholes model and extensions, numerical methods (finite differences and Monte Carlo), interest rate modelling, stochastic optimisation, exotic derivatives and stochastic volatility. MATLAB is used as a practical computing language.

Attendance at the four core modules is compulsory. For each module there is an assignment for which feedback and an indicative mark is given to assist you in improving your future performance. Assessment for these compulsory modules consists of two two-hour written examinations held in September of the first year.

Each of the advanced modules explores a key area in contemporary mathematical finance. The programme of advanced modules is published in July each year, and you will be asked to register your choice of three modules. Attendance at these three assessed modules is compulsory. Advanced modules will be assessed by short ‘special project’ reports, each submitted on a subject chosen by you that is covered in the module.

You will complete a dissertation on a topic chosen in consultation with your supervisor and the Course Director.

Applicants are normally expected to be predicted or have achieved a first-class or strong upper second-class undergraduate degree with honours (or equivalent international qualifications), as a minimum, in mathematics or a related discipline. 

For applicants with a degree from the USA, the minimum GPA sought is 3.6 out of 4.0.

If you hold non-UK qualifications and wish to check how your qualifications match these requirements, you can contact the National Recognition Information Centre for the United Kingdom (UK NARIC).

No Graduate Record Examination (GRE) or GMAT scores are sought.

  • Official transcript(s)
  • CV/résumé
  • Personal statement: Around one page
  • Admissions exercise: MSc in MF admissions exercise answers with signed disclaimer
  • References/letters of recommendation:Three overall, generally academic

ENGLISH LANGUAGE REQUIREMENTS

Higher level

est

Standard level scores

Higher level scores

IELTS Academic 
Institution code: 0713

7.0 Minimum 6.5 per component  7.5  Minimum 7.0 per component 

TOEFL iBT 
Institution code: 0490

100

Minimum component scores:

  • Listening: 22
  • Reading: 24
  • Speaking: 25
  • Writing: 24
110

Minimum component scores:

  • Listening: 22
  • Reading: 24
  • Speaking: 25
  • Writing: 24
Cambridge Certificate of Proficiency in English (CPE) 185

Minimum 176 per component

191 

Minimum 185 per component

Cambridge Certificate of Advanced English (CAE) 185

Minimum 176 per component

191 

Minimum 185 per component

  • Global Education
  • Hill Foundation Scholarships
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