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Open the door to a world of career opportunities with our Mathematical Finance Masters. Focusing on theory, this multidisciplinary programme will help you on your way to a PhD.
Gain a strong foundation in mathematical models and their applications, alongside sought-after advanced computational and programming techniques. You'll be ready to succeed in a globally growing financial field.
"The best thing about my course is being able to take modules from different Schools to expand my knowledge. This year I have been able to take modules from both the Business School and the School of Computer Science alongside my Maths modules and I think this has enhanced my understanding of financial mathematics and how it can be applied in the world."
Join our 1 year full-time MSc programme comprising of taught modules during terms 1 and 2 followed by a Summer Dissertation. You'll be assessed using a combination of coursework and end of year examinations for taught modules.
You will take 60 credits of compulsory/optional modules across various areas of Mathematical Finance. All examinations will take place during the May/June main examination period. You'll attend 2 weekly lectures and 1 fortnightly guided study session for each 10 credit module equivalent. There are also regular MSc group tutorial meetings.
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Develop your ability to apply mathematical and scientific knowledge to financial analysis, critically evaluating scenarios within the sector. Our course combines economic theory, mathematics, statistics and computer programming. You’ll learn to use software packages to analyse financial data and implement numerical models. You'll then have the knowledge to support decision making in the finance, healthcare, technology, and government sectors.
Birmingham is ranked 80th in the QS World University Rankings 2025, maintaining our position in the top 100 universities globally and placing us 12th amongst UK universities.
Study at the School of Mathematics which is internationally recognised for its quality of research in various fields.
Our world-class research and a vibrant, global student community are at the heart of our School of Mathematics. You'll take part in tutorials and projects to consolidate your learning. In the third term, you'll work with your personal supervisor to conduct a research project.
The programme is a 1 year full time taught masters degree (180 credits) consisting of 120 credits of taught modules and a 60 credit summer project. The dissertation is completed under the direction of a project supervisor which will give you the opportunity to work one-to-one with a leading expert in their field.
The modules listed for this programme are regularly reviewed to ensure they are up-to-date and informed by the latest research and teaching methods.
Any optional module information listed for this programme is intended to be indicative, and the availability of optional modules may vary from year to year. Where a module is no longer available, we will let you know as soon as we can and help you to make other choices.
Module Title | Credits | Semester |
---|---|---|
Advanced Mathematical Finance | 20 | Semester 2 |
Stochastic Processes | 20 | Semester 1 |
Mathematical Finance Dissertation | 60 | Full term |
You are strongly advised to evenly split module choices so that you take 60 taught credits during Semester 1 and 60 taught credits during Semester 2
You must take on the following modules: (It is recommended that you take Mathematical Finance unless you have previously taken a previous undergraduate course in Mathematical Finance.)
Module Title | Credits | Semester |
---|---|---|
Financial Mathematics | 20 | Full Term |
Mathematical Finance | 20 | Full Term |
Students must choose 60 credits from the following:
Module Title | Credits | Semester |
---|---|---|
Experimental and Behavioural Economics | 10 | Semester 2 |
Integer Programming and Combinatorial Optimisation | 20 | Full Term |
Interest Rate and Credit Risk Modelling | 10 | Semester 1 |
Methods in Partial Differential Equations | 20 | Full Term |
Nonlinear Programming I and Heuristic Optimisation | 20 | Full Term |
Numerical Methods and Numerical Linear Algebra | 20 | Full Term |
Quantitative Funds Management | 10 | Semester 1 |
Risk, Uncertainty and Information | 10 | Semester 2 |
Statistical Methods in Finance and Economics | 20 | Full Term |
To gain a place at Birmingham you will need to meet our general entry requirements, as well as those specific to your course. Your application will be reviewed by the course’s Admissions Tutor, who will decide whether your application should receive an offer.
in mathematics or a programme with advanced mathematical components.
If you are an international student, you will need to demonstrate you have a suitable level of English proficiency, usually through the form of an IELTS or equivalent qualification.
For this course we require IELTS 6.0 with no less than 5.5 in any band, which is equivalent to:
Improve your knowledge of spoken and written English in preparation for studying at Birmingham with our pre-sessional English courses. If you have a conditional offer, you can take one of these courses as an alternative to retaking IELTS or other similar qualifications.
Full-time
We charge an annual tuition fee. Fees for 2025 entry are above.
The fees quoted are for one year only. For those studying courses that are longer than one year, tuition fees will also be payable in subsequent years of your programme.
Tuition fees can either be paid in full or by instalments. You can check whether you are eligible for UK or international fees with our admissions team.
Learn more about postgraduate tuition fees and funding.
To help with the cost of studies, this loan is available to all UK students. You can use this loan towards fees, maintenance or other costs at your own discretion. It’s available for all full-time, part-time and distance learning Masters programmes, as long as you don’t already have a Masters qualification (or equivalent).If you’re a student from Wales, Scotland or Northern Ireland, you can apply for Masters loans from your country’s government.
To help you afford your studies, we’ve put more than £33 million into student support and scholarships. We also offer a range of advice on searching for funding and managing your finances.
We want to welcome the brightest talent to our postgraduate community. That’s why our Birmingham Masters Scholarships award £3,000 to more than 300 students each year.
To apply for a postgraduate programme, you will need to submit your application and supporting documents online.
Select whether you are a UK student or an international student for relevant application deadlines.
Application deadline for UK and non visa requiring applicants. We will close applications as soon as the programme is full. Early applications are encouraged.
We have put together some helpful information on the taught programme application process and supporting documents. Please read this information carefully before completing your application.
Our course equips you with state-of-the-art mathematical methods, computational skills, and programming expertise, making you ideal for quantitative positions in financial institutions. Our programme is a great stepping stone for postgraduate research.
Get ready for tomorrow, with advice, guidance and opportunities at every step of your studies. From developing new skills to preparing for a PhD, our Careers Network can help you gain an advantage in the job market or advance in your field.
Whatever you plan to do after your degree, the Careers Network offers a range of events and support services including networking opportunities, career coaching, one-to-one guidance, careers fairs and links with leading graduate recruiters. We also offer subject-specific careers consultants and a dedicated careers website for international students.
At Birmingham, your university experience isn’t just about studying. You will have the opportunity to discover new experiences, develop different skills and make friends for life.
Our bustling campus with its beautiful grounds, friendly community and excellent facilities will quickly make you feel at home. We offer you a huge variety of accommodation options in the UK’s second city, exciting activities to get involved in outside your studies, as well as all the support and advice you need.
Explore our beautiful campus from wherever you are. Get a feel for the wide range of historic and modern spaces and state-of-the-art facilities.