Mathematical Finance MSc
- Entry requirements:
- 2:1 +
- 1 year
- up to 4 years
- Start date:
- October 2018
In the UK for Mathematics
the Complete University Guide 2017
of our research is 'internationally recognised'
The depth of the mathematics taught in our Mathematical Finance MSc programme should equip you with the skills needed to succeed within the finance sector. It will also enable you to pursue a research career in stochastic analysis, financial mathematics and other relevant areas.
Our Mathematical Finance MSc programme is designed to provide you with the strong mathematical skills, computational techniques and finance background necessary to work in the finance sector. It could also open up careers in investment banking, hedge funds, insurance companies and the finance departments of large corporations.
Drawing on the expertise within our department of Mathematical Sciences, you will undertake core modules in stochastic analysis and measure theory, while also choosing optional modules covering wide-ranging topics of interest, including corporate finance, functional analysis and asset management.
In addition, the 14 weeks at the end of the programme are devoted to an individual project which you will complete under the supervision of your departmental supervisor.
As a student, you will benefit from our computing laboratory which boasts a dedicated IT team to help you with any computing queries. You will also benefit from the £4 million refurbished department of Mathematical Sciences building which has a spacious student activity area and dedicated state-of-the-art resources.
What makes this programme different?
- Underpinned by the latest research and best practice
- Located in a £4 million refurbished Mathematics building
- 14 week individual project
- Computing laboratory with dedicated IT team
Who should study this programme?
Mathematical Finance MSc is aimed at those students wishing to develop their mathematical skills, computational techniques and knowledge of finance to lead to employment in a range of finance sectors such as investment banks, hedge funds, insurance companies and the finance departments of large corporations where mathematics plays a key role.
An honours degree (2:1 or above) or equivalent overseas qualification in a subject with a high mathematical content.
English Language Requirements
All applicants for admission to Loughborough University must have a qualification in English Language before they can be admitted to any course or programme, whether their first language is English or not.
IELTS: overall 6.5 with minimum 6.0 in each component.
What you'll study
Our Mathematical Finance MSc aims to deliver a postgraduate curriculum which provides you with a solid foundation in the core areas of mathematics relevant to industry and inspires you to meet your own aspirations, interests and educational needs.
Mathematical Finance MSc covers a wide range of topics; to give you a taster we have expanded on some of the core modules affiliated with this programme and the specific assessment methods associated with each module.
Introduction to Measure Theory and Martingales - 15 credits
This module is your introduction to the theoretical background of measure and integration theory and martingales. You will explore the essential role that randomness plays in mathematical modelling of numerous real world problems and build a solid rigorous mathematical background that enables progression to stochastic analysis, the mathematics of finance, and analysis-related fields.
Stochastic Models in Finance - 15 credits
This module introduces the basic discrete models in finance and provide you with the mathematical background to the security market and derivative industry, as well as equipping you with the mathematical tools to deal with financial problems.
Stochastic Calculus and Theory of Stochastic Pricing - 15 credits
This module enables you to develop a mathematical understanding of Brownian motion. You will explore the basics of stochastic calculus by using Brownian motion as an integrator and develop an understanding of the mathematical modelling of pricing via the Black-Scholes model.
Research Project (summer)
Your project is your opportunity to gain experience of independent work in an area of mathematics with relevance or applications to the field of finance, conducting a review of the literature underpinning an area of mathematics, and drawing upon a range of sources and materials to construct a coherent study. You will work under the supervision of a member of Departmental staff.
Programming and Numerical Methods - 15 credits
Introduces the basic concepts of programming and explains numerical methods for solving ordinary and partial differential equations.
Regular and Chaotic Dynamics - 15 credits
Explores dynamical systems from a modern viewpoint, emphasising the rich behaviour of nonlinear systems.
Financial Economics - 15 credits
Builds knowledge of the fundamental concepts of financial economics and learn how to model the behaviour of investors under conditions of uncertainty and how to apply theoretical models in both asset pricing and the evaluation of capital market efficiency.
Functional Analysis - 15 credits
Develops awareness of the power and range of abstract mathematical concepts through a basic introduction to the methods of functional analysis.
Elements of PDEs - 15 credits
Builds familiarity with modern qualitative theory of linear PDE's with particular emphasis on second-order equations as well as to study selected aspects of modern methods for simple nonlinear PDEs.
Lie Groups and Lie Algebras - 15 credits
Introduces the notions of a Lie group and Lie algebra, their properties and methods.
Static and Dynamic Optimisation - 15 credits
Develops understanding of the theory and techniques of static and dynamic optimisation.
Asset Management and Derivatives - 15 credits.
Explores the options, futures, swaps and other derivative instruments and their use in asset management.
Corporate Finance - 15 credits
Introduces options, futures, swaps and other derivative instruments and their use in asset management.
How you'll be assessed
Modules are assessed by a combination of examinations, coursework and group work.
How you'll study
Your personal and professional development
Our Department of Mathematical Sciences is committed to helping you develop the skills and attributes you need to progress successfully in your chosen career.
Future career prospects
Mathematical Finance MSc may lead to a wide range of employment within industry, the financial sectors, and research establishments. It may also provide an ideal background for postgraduate research in Stochastic analysis, probability theory, mathematical finance and other relevant areas.
Recent graduate destinations include:
- Deloitte, Business analyst
- HSBC, Finance analyst
- JPSS, Data analyst
- Lloyds Banking Group, Risk Analyst
Other students have gone on to secure PhD places at top British universities including Loughborough, Warwick and Nottingham, and international universities such as Chicago and Boston.
Your personal development
Once you've completed this programme, you should gain the ability to:
- Possess general study skills, including the ability to learn independently using a variety of media
- Have good time management and organisational skills
- Be logical and analytical, and possess skills in IT, communication, presentation and problem solving.
Fees and funding
Tuition fees cover the cost of your teaching, assessment and operating University facilities such as the library, IT equipment and other support services. University fees and charges can be paid in advance and there are several methods of payment, including online payments and payment by instalment. Special arrangements are made for payments by part-time students.