Mathematical Finance (MSc) (2024 Entry)
Explore our Mathematical Finance taught Master's degree.
Join our challenging MSc Mathematical Finance taught by three of Warwick's top departments; Mathematics, Statistics and Warwick Business School. With expert supervision, this mathematically rigorous course will develop and apply the quantitative skills in machine learning, computational statistics and mathematical finance used in the financial markets and the finance industry.
Course overview
This unique course provides training from three top departments at the University of Warwick: Mathematics, Statistics and Warwick Business School. Building on your strong mathematical background, you will develop and apply the quantitative skills in machine learning, computational statistics and mathematical finance that are used within the financial markets and finance industry.
Our core modules focus on the four elements of the core skill set needed for careers in finance: Financial Statistics, Financial Mathematics, Asset Pricing and Risk, and Simulation and Machine Learning for Finance. In line with these modules, you will also learn programming for Quantitative Finance, focusing on C++, Python, and R.
Skills from this degree
- Teaching by three world-leading academic departments helps you to gain a deep insight into mathematical finance
- Uncover the newest quantitative theory and practice through specialist modules
- Develop your industry acumen by accessing our CareersPlus service with specialist careers coaches.
General entry requirements
Minimum requirements
A high 2:1 or First (or equivalent) in a Mathematics, Statistics, Physics or another relevant quantitatively-focused undergraduate degree. You will need strong ability in mathematics and finance, and some experience in statistics or econometrics.
English language requirements
You can find out more about our English language requirementsLink opens in a new window. This course requires the following:
- Band B
- IELTS overall score of 7.0, minimum component scores of two at 6.0/6.5 and the rest at 7.0 or above.
We accept a range of language tests. Please refer to our website for more details.
International qualifications
We welcome applications from students with other internationally recognised qualifications.
For more information, please visit the international entry requirements pageLink opens in a new window.
Additional requirements
There are no additional entry requirements for this course.
Core modules
Programming for Quantitative Finance
Develop and support the skills required for practical applications of theoretical concepts in the MSc Mathematical Finance course.
Stochastic Calculus for Finance
Get a thorough introduction into discrete-time martingale theory, Brownian motion, and stochastic calculus, illustrated by examples from Mathematical Finance.
Financial Statistics
Discover the main approaches to statistical inference and financial time series.
Simulation & Machine Learning for Finance
Gain a theoretical and practical understanding of numerical methods in finance.
Asset Pricing & Risk
An introduction to modern theories of Asset Pricing and Portfolio Theory in both static and dynamic settings.
Financial Econometrics
Get an introduction to the main tools and approaches to estimation and inference of financial and economic models.
Applications of Stochastic Calculus in Finance
Gain a thorough understanding of how stochastic calculus is used in continuous time finance. You will also develop an in-depth understanding of models used for various asset classes.
Dissertation
The 10,000 word dissertation allows you to synthesise, apply and extend the knowledge you have gained in the taught component of the programme, and to demonstrate mastery of some elements of financial mathematics.
Optional modules
Optional modules can vary from year to year. Example optional modules may include:
Statistical Learning & Big Data
Cover a range of theories in statistical learning and big data and big model related issues and solutions.
Advanced Trading Strategies
Get an introduction to three advanced topics in Mathematical Finance, computing and explaining key variables, applying appropriate techniques, and analysing and comparing different modelling approaches between the three.
Partial Differential Equations in Finance
Gain a theoretical and practical understanding of partial differential equations.
Brownian Motion
Learn how to construct Brownian motion and study its path properties, how to use stochastic calculus for manipulations, and about differential equations.
Read the module descriptions for this course on the Warwick Business School website.
Teaching
Modules are taught by staff from WBS, Statistics, and Mathematics, through a combination of lectures, classes, and computer lab sessions.
Seven core modules cover the four key pillars of the core skill set you will need for a career in the finance industry: Financial Statistics, Financial Mathematics, Asset Pricing and Risk, and Simulation and Machine Learning for Finance.
Our optional modules help you to personalise the course to focus in on your own interests and future career path.
Class sizes
The typical class size for this course is around 31 students.
Typical contact hours
Students on this MSc will typically receive between 26 and 30 contact hours per module.
Assessment
Assessment is a mix of exams and coursework with your dissertation bringing all of your learning together at the end.
Your timetable
Your personalised timetable will be complete when you are registered for all modules, core and optional, and you have been allocated to your lectures, seminars and other small group classes. Your core modules will be registered for you and you will be able to choose your optional modules when you join us.
There may be events taking place in the evenings. Classes may run up to 7pm and other events, such as careers presentations may take place later or on Saturdays. Occasionally, classes and exams may be held on Saturdays. We will notify you in advance if this is the case.
This is a full-time course, so there are no holidays as such. However, the two weeks covering Christmas and New Year are guaranteed to be free from lectures. There may also be weeks free over the Easter period (check with your programme team). Resit exams may take place outside of standard teaching periods.
Your career
We have our own dedicated careers team at Warwick Business School called WBS CareersPlus. You will have access to one-to-one career guidance appointments, CV checks and tailored mock interviews.
Personalised support
The WBS CareersPlus team will support you and help you to understand yourself and your strengths. They can help you to identify possible career paths, and to set and achieve your career ambitions. This helps to boost your employability and helps you prepare for your career.
You can take advantage of personalised careers coaching and advice. Our one to one careers appointments can help you if you have a question about writing applications, wish to explore your career options, or need to prepare for interviews and assessment centres.
Discover our graduate destinations brochure here.
Warwick Business School
If you’re interested in the bigger picture, comfortable challenging assumptions and want a degree that will open doors, then WBS is the place for you. We will give you the foundation for change and prepare you for your future career. Are you ready to make your mark in the world of business?
Find out more about us on our website.
The vision of WBS is to be Europe’s leading University-based Business School, developing transformational ideas and people that shape how we do business. We recognise that rankings are one way to profile our progress towards fulfilling this vision, and are proud to participate in the major global business education rankings.
- Masters in Marketing & Strategy - 2nd in the UK and 11th in the world
- Masters in Business Analytics - 3rd in the UK and 17th in the world
- Masters in Management - 4th in the UK and 22nd in the world
- Masters in Finance - 6th in the UK and 21st in the world
Financial Times Masters in Management Ranking 2022
- 27th in the world, 3rd in the UK
Financial Times Masters in Finance Ranking 2022
- 12th in the world, 3rd in the UK
Financial Times’ Online MBA ranking 2023
- 2nd in the world for our Distance Learning MBA
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Tuition fees
Tuition fees are payable for each year of your course at the start of the academic year, or at the start of your course, if later. Academic fees cover the cost of tuition, examinations and registration and some student amenities.
Fee Status Guidance
The University carries out an initial fee status assessment based on information provided in the application and according to the guidance published by UKCISA. Students are classified as either Home or Overseas Fee status and this can determine the tuition fee and eligibility of certain scholarships and financial support.
If you receive an offer, your fee status will be stated with the tuition fee information. If you believe your fee status has been incorrectly classified you can complete a fee status assessment questionnaire (follow the instructions in your offer) and provide the required documentation for this to be reassessed.
The UK Council for International Student Affairs (UKCISA) provides guidance to UK universities on fees status criteria, you can find the latest guidance on the impact of Brexit on fees and student support on the UKCISA website.
Additional course costs
Please contact your academic department for information about department specific costs, which should be considered in conjunction with the more general costs below, such as:
- Core text books
- Printer credits
- Dissertation binding
- Robe hire for your degree ceremony
Scholarships and bursaries
Scholarships and financial support
Find out about the different funding routes available, including; postgraduate loans, scholarships, fee awards and academic department bursaries.
Living costs
Find out more about the cost of living as a postgraduate student at the University of Warwick.
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How to apply
The application process for courses that start in September and October 2024 will open on 2 October 2023.
Applications will close on 2 August 2024 for students who require a visa to study in the UK, to allow time to receive a CAS and complete the visa application process.
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