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Financial Mathematics and Finance – (M.Sc.)
Stockholm University
Department of Mathematics
| Application Deadline: | January 16 | ||
| Annual Tuition Fee: | Free - ≈ € 15,900 (non-EEA) | ||
| Location: | Stockholm / Sweden / View location on map ▾ Hide location on map ▴ | ||
| Duration: | 24 months | Start Date: | September |
| Educational Form: |
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| Education Variants: |
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| Credits (ECTS): | 120 | ||
| Languages: | English | ||
Location of Stockholm University
There are many different kinds of investors on the financial market today, not only big companies, banks and financial institutions but also private persons investing in different kinds of securities directly or through funds. Recently, trade with financial derivatives; securities, e.g. options, that are connected to other securities, e.g. stock, has increased. This has lead to an increased demand in the ability to correctly analyze all the complex connections and questions on the market. Several of the methods and models used today are mathematically very advanced, thereby creating a strong need for competent mathematicians with knowledge about financial markets. The Master’s programme in Financial Mathematics and Finance is a two-year programme that turns towards those that have a Bachelor’s degree in Mathematics or Mathematical Statistics and want to specialize in Financial Mathematics. The programme is also an excellent preparation for graduate studies in Mathematical Statistics. One course in mathematical economy of 7.5 credits, one course in financial mathematics of 7.5 credits and two courses in finance of 15 credits are mandatory. The other courses are elective in mathematics, mathematical statistics, business and economy. The programme ends with a diploma work of 30 credits which leads to a Master’s Degree. The programme will be given in English. More information can be obtained from the Student’s Counsellor in Mathematical Statistics.
Contents
Courses assigned with Ms belong to the main field Mathematical Statistics.
Compulsory courses
* Advanced financial Mathematics, SC, 7,5 ETC (Ms)
* Mathematical economics, SC, 7,5 ETC
* Advanced financial theory, SC, 7,5 ETC
* Financial institutions management, SC, 7,5 ETC
* Master’s thesis i financial mathematics, SC, 30 ETC (Ms)
Elective courses
The collection of elective courses is decided by the department board. The list of all elective courses are brought up to date every new academic year. Before every new start of a programme there will be a list showing a minimal amount of elective courses that will be guaranteed during the time of the programme.
Example of current elective courses:
Courses in Financial mathematics
* Martingales and stochastic integrals, SC, 7,5 ETC (Ms)
* Financial derivatives, SC, 7,5 ETC (Ms)
* Portfolio theory, SC, 7,5 ETC (Ms)
* Risk management, SC, 7,5 ETC (Ms)
Courses in Mathematical statistics
* Probability theory III, SC, 7,5 ETC (Ms)
* Statistical models, SC, 7,5 ETC (Ms)
* Stochastic processes III, SC, 7,5 ETC (Ms)
Courses in economic and bussiness
* Advanced financial empirical research, SC, 7,5 ETC (at FEK and NEK)
* Fixed income securities, SC, 7,5 ETC (at FEK)
* Intermediate macroeconomics, SC, 7,5 ETC (at NEK)
* Intermediate microeconomics, SC, 7,5 ETC (at NEK)
* Money and finance, SC, 7,5 ETC (at NEK)
Courses in Mathematics
* Combinatorics II, SC, 7,5 ETC
* Ordinary differential equations, SC, 7,5 ETC
* Dynamic Systems and Optimal Control Theory, SC, 7,5 ETC
* Foundations of analysis, SC, 7,5 ETC
* Analytic functions I, SC, 7,5 ETC
* Algebra III, SC, 7,5 ETC
* Linear analysis, SC, 7,5 ETC
* Optimization, SC, 7,5 ETC
* Logic, SC, 7,5 ETC
* Development of Mathematics, SC, 15 ETC
The minimum amount of credits that has to be studied in elective courses is 15 ECTS in Financial mathematics, 15 ECTS in Mathematical Statistics (Financial mathematics included) and 15 ECTS in Economics or Bussiness.
Optional courses
There is a possibility to take up to 22,5 ECTS in optional courses within the programme.
IELTS
You are normally required to take an English Proficiency Test.
Most European Universities recognise the IELTS test.
Take testGRE® revised General Test
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Register Now!Requirements
A Bachelor’s Degree, with 45 ECTS credits in Mathematics and 60 ECTS credits in Mathematical Statistics. Second Level courses in probability theory and stochastic processes, and an introductory course in financial mathematics are also recommended. English B (Swedish upper secondary school course) or equivalent, or one of the following tests: IELTS: 6.5 (with no section below 5.5). TOEFL (paper based): 575 (with minimum score 4,5 in the written test). TOEFL (internet based): 90 (with minimum score 20 in the written test). University of Cambridge and Oxford: Certificate in Advanced English or Diploma of English Studies.
Additional Requirements
| Minimal degree required: | Bachelor's degree |
| Minimal amount of work experience | Not specified |
Language Proficiency
| IELTS Band: | 6.5 |
| TOEFL Paper-based: | 575 |
| TOEFL Internet-based: | 90 |
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