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Financial Mathematics – (M.Sc.)
London School of Economics and Political Science
Department of Mathematics
| Application Deadline: | None - rolling admissions | ||
| Annual Tuition Fee: | ≈ € 23,186 - | ||
| Location: | London / United Kingdom / View location on map ▾ Hide location on map ▴ | ||
| Duration: | 10 months | Start Date: | September |
| Educational Form: |
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| Education Variants: |
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| Credits (ECTS): | 90 | ||
| Languages: | English | ||
Location of London School of Economics and Political Science
This programme is based in the Department of Mathematics, and is taught in collaboration with the Department of Finance and the Department of Statistics. The programme provides high level instruction in the mathematical theory underlying finance, and training in appropriate computational methods. It offers the following benefits:
* Study in a leading university, internationally renowned for its research and teaching programmes.
* Focus on the development of student understanding of quantitative methodologies and techniques that are important for a range of jobs in investment banks and other financial institutions.
* Research-led teaching that aims at enhancing students' critical appreciation of major issues and emerging theory in the area of financial mathematics.
* Preparation for a range of careers in the financial sector, industry and research.
* Opportunity to improve personal skills, including logical reasoning, quantitative analysis, independent learning and the presentation of technical results.
This programme aims to develop students' understanding of the foundations of financial mathematics, and to equip them with knowledge of a range of mathematical and computational techniques that are required for a variety of quantitative positions in the financial sector.
It draws on LSE's strengths in finance and related areas, and includes compulsory and optional courses given by the Department of Mathematics, the Department of Finance and the Department of Statistics.
This MSc is mathematically advanced, and applicants should have a very strong mathematics background and a minimum of a BSc degree of first or good upper-second class in mathematics or a mathematics-based subject, or an equivalent qualification. Prior knowledge of finance or computing is not required.
The programme starts with a compulsory pre-sessional course, the purpose of which is to consider a number of elementary issues in finance and to review some key concepts and techniques of relevant mathematical theory, such as probability. The pre-sessional course also includes an introduction to programming in C++.
Students are required to take courses to the value of 4 full units.
Contents
The programme starts with a compulsory pre-sessional course, the purpose of which is to introduce some key concepts and techniques of relevant mathematical theory, such as probability. The pre-sessional course also includes an introduction to programming in C++.
Students are required to take courses to the value of 4 full units.
Compulsory courses
(* half unit)
* The Mathematics of the Black and Scholes Theory*
* The Foundations of Interest Rate, Foreign Exchange, and Credit Risk Theory*
* Stochastic Processes*
* Fixed Income Markets*
* Computational Methods in Finance*
Options
Choose to a total of one and half units:
At least one from:
* Computational Learning Theory and Neural Networks*
* Game Theory I*
* Algorithms and Computation*
* Continuous-Time Optimisation*
* Information, Communication and Cryptography*
* Probability and Measure*
* Stochastic Analysis*
* Preferences, Optimal Portfolio Choice, and Equilibrium*
* Search Games*
Up to two from:
* Financial Risk Analysis*
* Forecasting Financial Time Series*
* Derivatives*
* Quantitative Methods for Finance and Risk Analysis*
* Portfolio Management*
* International Finance*
* Principles of Finance
* Time Series*
* Any other course, with the agreement of the course lecturer and the programme director
IELTS
You are normally required to take an English Proficiency Test.
Most European Universities recognise the IELTS test.
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Register Now!Requirements
Minimum entry requirement: 2:1 degree in mathematics or another mathematics based subject
English language requirements
If your first language is not English or if the language of instruction of your previous degree is not English, we ask you to provide evidence of your command of English. You should include your test scores, if available, in the relevant section of the application form. If you receive an offer of admission, it will be subject to proof of your score. English tests must be less than two years old at the time of application. If you have not yet taken the test, your application can be considered in its absence, but any offer will be conditional on your achieving the required score.
Each programme in the prospectus lists the level of English required for admission; either Standard or Higher. Programmes in the Law Department have yet higher requirements - details in the individual programme entries.
Higher
* TOEFL (Test of English as a Foreign Language) with a minimum score of 627 in the paper test or 107 in the internet based test
* IELTS (International English Language Testing System) with a minimum score of 7.0
Other test scores may be acceptable if you have already obtained them. You should supply evidence of your English test with your application and if you are made an offer we will indicate whether we will accept your score or if we require one of the tests above. You may be required to achieve a higher score at the discretion of the selectors. If you have not yet taken any English test, we recommend that you take the IELTS, TOEFL or LSE test.
Additional Requirements
| Minimal degree required: | Bachelor's degree |
| Minimal amount of work experience | Not specified |
Language Proficiency
| IELTS Band: | 7.0 |
| Cambridge English: Advanced (CAE): | Grade A (Score: 80) |
| TOEFL Paper-based: | 627 |
| TOEFL Internet-based: | 107 |
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