M.Sc. Financial Mathematics

The University of Exeter | Exeter, United Kingdom
This is a specialist Masters programme taught by the College of Engineering, Mathematics, and Physical Sciences (EMPS) in conjunction with the University of Exeter Business School. It provides an ideal introduction to a career in finance for those with a strong mathematical background.

Description of Financial Mathematics

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This is a specialist Masters programme taught by the College of Engineering, Mathematics, and Physical Sciences (EMPS) in conjunction with the University of Exeter Business School. It provides an ideal introduction to a career in finance for those with a strong mathematical background.

The programme is flexible, allowing you to study over either a nine-month or a twelve-month programme, based in either EMPS or the Business School depending on your focus of interest. Whichever route you choose, you will be able to take advantage of the Business School’s financial expertise as well as the mathematical expertise available in EMPS. This degree programme will prepare you for careers in international banking, international business, or public service.

Careers

We are very proud of our graduates who have careers across a broad range of sectors and are working all over the world. Example destinations of recent graduates of the School's postgraduate programmes include:

  • Director, Strategic Matters UK
  • Business Analyst, Dresdner Kleinwort
  • Business Consultant, Transition Consulting
  • Account Executive, IMG
  • Financial Business Analyst, Reuters
  • Chartered Financial Analyst, 7city Learning
  • Equity Analyst, Japanese Bank
  • Trainee Fund Manager, Scottish Widows
  • Finance Analyst, The Arcadia Group
  • Business Analyst, Dresdner Kleinwort
  • Assistant Economist, Customs and Excise
  • Economist, Bank of Estonia
  • PhD Statistics, London School of Economics and Political Science
  • Associate Lecturer, Universidad de Castilla, Spain (PhD Economics)
  • Risk Analyst, GE Capita
  • Trainee Accountant, Citibank
  • Investment Analyst, Stamford Associates
  • Account Manager, Renaissance Group, Nicosia
  • Investment Analyst, Capital Finance
  • Senior Executive, PricewaterhouseCoopers, Prague
  • Economist, Civil Service
  • Global Share Dealer, Deloitte
  • Ship Broker, Ssy
  • Banker, Standard and Chartered

Detailed Course Facts

Application deadline January 15;
Tuition fee
  • EUR 18000 Year (Non-EEA)
  • EUR 10500 Year (EEA)

UK/EU £9,000; International £15,500;

Start date October  2015
Credits (ECTS) 90 ECTS
Duration full-time 9 months
Languages
  • English
Take an IELTS test
Delivery mode On Campus
Educational variant Full-time

Course Content

This programme is available for study nine months full-time over three terms from October to June and is University-based throughout this time.

During the programme you will study modules totalling 180 credits. Please note that all options are available timetable permitting and may change.

Programme structure:

  • Methods for Stochastics and Finance / 15
  • Analysis and Computation for Finance / 15
  • Mathematical Theory of Optional Pricing / 15
  • Fundamentals of Financial Management / 15

Select either the following 60 credits:

  • Research Methodology / 15
  • Financial Mathematics Project / 15

Or Select the following 75 credits

  • Research Methodology /15
  • Advanced Mathematics Project / 60

Or Select the following 75 credits:

  • Investment Analysis I / 15
  • Investment Analysis II / 15
  • Financial Modelling / 15
  • Investment Analysis Projects / 30

Select either 45 or 60 credits. 15/30 credits may be replaced by any appropriate M Level EMPS module(s) available, subject to approval. Selection of ECMM718 and ECMM401 are subject to availability and approval

  • Topics in Financial Economics / 15
  • Derivatives Pricing / 15
  • Advanced Corporate Finance / 15
  • Quatitative and Research Techniques / 15
  • Advanced Econometrics / 15
  • Advanced Finance Theory / 15
  • Dynamical Systems and Chaos / 15
  • Pattern Recognition / 15

The nine month programme is arranged into two 12 week terms, while the twelve month programme is arranged into two taught 12 week terms and a Financial Mathematics Dissertation to be completed over the Summer.
Students decide by start of term two on whether to undertake the twelve month option. For this latter option students undertake a 60 credit Mathematics project (ECMM721) over the Summer.

Learning and teaching

Our postgraduate taught programmes utilise a range of teaching methods including lectures, seminars and tutorials.

Lectures

The aim of lectures is to give you information on ideas that are central to the module and to help you in developing your understanding of complex ideas. Many of the teaching materials for lectures are made available to you electronically to accompany the notes you take during the lecture. Lectures are given by a range of staff members, including leading professors, who integrate their latest research findings into the teaching that you receive. Guest lecturers, including members of industry, also contribute to some modules.

Seminars and tutorials

Seminars and tutorials involve an in-depth exploration of the issues covered in lectures as well as giving you the opportunity to discuss various concepts and theories and receive feedback on your written assignments.

Assessment

Modules are assessed through a mixture of group work, coursework, project work and examinations; the weighting of each of these components will vary according to the academic requirements of the module. Examinations are normally held at the end of the module, in January and May/June.

English Language Requirements

IELTS take IELTS test
7
TOEFL iBT® test
90

IMPORTANT NOTE: Per 6 April 2015 only the English language tests from IELTS and Trinity College London are accepted for Tier 4 Visa applications to the United Kingdom. Other tests (including TOEFL, TOEIC, Pearson, City & Guilds) are no longer accepted for Tier 4 visa applications to the United Kingdom. The university might still accept these tests to admit you to the university, but if you require a Tier 4 visa to enter the UK and begin your degree programme, these tests will not be sufficient to obtain your Visa. Since the Trinity College London language tests must be taken in one of their exam centres in the UK, IELTS is now the only language test accepted for Tier 4 visas to the UK that can be taken worldwide.

The IELTS test is most widely accepted by universities and is also accepted for Tier 4 visas to the UK- learn more.

Requirements for Financial Mathematics

Normally a 2:1 Honours degree or equivalent in a science or engineering subject, with significant mathematics content.

English language requirements

  • IELTS overall score of 7.0, with no less than 6.0 in any section.
  • TOEFL IBT overall score of 90, with minimum scores of 21 for writing, 21 for listening, 22 for reading and 23 for speaking.

Work Experience for Financial Mathematics

No work experience is required.

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