MSc Mathematical Finance

The Warwick MSc in Mathematical Finance (MSMF) builds on the success of the long-running Financial Mathematics course which was one of the first of its kind in the UK and occupied a leading position in the sector. The MSc in Mathematical Finance reflects the dramatic changes in the nature of the Quantitative Finance industry in recent years, with the introduction of new financial instruments & markets, technological innovation and the changes in the regulatory framework.

This mathematically rigorous course is aimed at candidates wishing to either:

pursue a career in the mathematically intensive segment of the Quantitative Finance sector or
do a quantitative PhD in the area of Financial Mathematics broadly understood, including Stochastic Finance and Algorithmic Computational Methods (such as Machine Learning) in Finance.

One of the unique features of MSMF at Warwick is that it is taught as a collaborative effort by three world-leading departments, giving the students unique access to the experts in relevant areas of this multifaceted masters programme: Statistics with its world-leading groups in Stochastic Finance and Computational Statistics, Warwick Business School, and Mathematics.

Course Structure

There are four pillars representing the areas of expertise required for our students' future employment and three stages of development.

Three Stages of Development

“foundations” (prerequisite skills in the core areas)
“specialisation” (bundles of electives to match interest and career destination)
"application" of acquired skills and knowledge (dissertation)

The three stages broadly follow the three academic terms:

Term 1 (Autumn): lays down the foundational skills in the “4 Pillars”
Term 2 (Spring): provides specialisation and “pathway”-specific skills
Term 3 (Summer): assurance of learning by applying skills to your dissertation
A “Backbone” (spanning all terms) develops Programming / Data skills

Four Pillars

The four “Pillars” correspond to the core modules in Term 1 and Term 2 (see Course Structure for details):

Financial Statistics
Financial Mathematics
Asset Pricing and Risk
Simulation and Machine Learning for Finance

Scholarship Programme

Many students in the MSc in Financial Mathematics have in the last few years received scholarships worth between 25% to 50% of the fee. See the Fees and Funding section for more details.