A combination of mathematics, statistics and computing, financial mathematics is a specialism vital to the day-to-day functioning of the world's economic institutions. Highly technical and theoretical aspects of mathematics take on a practical importance which can affect millions of lives through this fascinating discipline, which involves predicting the behaviour of markets and suggesting strategies for investment.
Why study MSc Financial Mathematics at Middlesex?
We believe strongly that the work you do must be relevant to the world of work – that's why our course has a strong practical slant. It also has the unusual and significant advantage of including from-scratch training in computer programming, allowing you to develop first-class computing skills alongside your mathematical expertise. You'll need a good degree in maths, or a related subject like physics or engineering, but no prior knowledge of finance.
Our course combines a comprehensive grounding in the theory of financial mathematics with thorough practical training
Our subscriptions to Bloomberg and Datastream allow you to work with real datasets
We'll teach you to code in widely-used languages such as C++, Java and Python, without the need for prior experience
Guest lectures from industry specialists allow you to gain insights from practising professionals into real-life situations
The course is designed either for graduates considering a financial career, or for those already working in the industry looking for a greater understanding of finance and insurance risk
You’ll develop an advanced understanding of the concepts and techniques of financial mathematics and statistics, and of how financial data is gathered and analysed. These will include probability; financial data and technical terms; options pricing and asset pricing; distributions; the future of prices and exchange rates; hedging investments; advanced stochastic analysis; mathematical modelling and analysis; portfolio management and selection; and research methods and techniques. Through all this, you’ll develop the mathematical, financial and computational skills you need to make decisions; quantify and manage risks and balance risk with return; understand financial instruments; and evaluate and interpret financial data using programming and computer packages. You’ll also be able to source data from a range of different sources, including electronic databases.
There are five compulsory modules: portfolios and risk; probability and stochastic processes; risk measurement; financial data and computing; and pricing and stochastic calculus. You’ll then choose one further option from international risk management, time series and forecasting, and game and decision theories. At the end of the course you will submit a dissertation, which will allow you to gain in-depth knowledge of an area that interests you.
Lectures and talks by visiting speakers will introduce you to concepts and techniques, which you’ll explore further through workshops, seminars, and presentations and discussions in class. Case studies will help you to relate theory to practice, and we’ll encourage you to think critically; some of your work will be done in groups. You’ll supplement all this with your own independent reading and study, including the use of online resources.
You’ll be assessed through exams, tests and your dissertation, as well as other individual and group coursework
What are the entry requirements for Financial Management MSc?
We welcome applications from graduates with a good honours degree, or equivalent qualification, in an appropriate subject
We also consider candidates with other relevant qualifications
Those without formal qualifications need to demonstrate three years' relevant work experience and the ability to study at postgraduate level.
UK/EU and international students are eligible to apply for this course.
Academic credit for previous study or experience
If you have relevant qualifications or work experience, academic credit may be awarded towards your Middlesex University programme of study. For further information please visit our Accreditation of Prior Learning page.
International entry requirements
We accept the equivalent of the above qualifications from a recognised overseas qualification. To find out more about the qualifications we accept from your country please visit the relevant Support in your country page.
If you are unsure about the suitability of your qualifications or would like help with your application, please contact your nearest Regional office for support.
Visas and immigration
You will not need a visa to study in the UK if you are a citizen of the European Union, Iceland, Liechtenstein, Norway or Switzerland. If you are a national of any other country you may need a visa to study in the UK. Please see our Visas and immigration page for further information.
English language requirements for international students
You must have competence in English language to study with us. The most commonly accepted evidence of English language ability is IELTS 6.5 (with minimum 6.0 in all components). We also normally require Grade C GCSE or an equivalent qualification. Visit our English language requirements page for a full list of accepted tests and qualifications.
A solid command of the principles and techniques of financial mathematics is essential for anyone working in trading, pricing, hedging, asset management, risk control and a variety of other areas of finance. There is currently a major drive to improve the mathematical abilities of staff working in financial institutions, and banks and companies which deal with risk are looking to hire employees with a solid mathematical background. This course will equip you for a wide range of careers in financial product development, risk analysis and management, pricing, investment decision making and portfolio development, with banks and financial companies or the government.
As well as in-depth knowledge of your subject, our course will provide you with many transferable skills. It will improve your research, data collection and interpretation, communication, presentation and teamwork skills, as well as your confidence and your ability to work under your own initiative and manage your own time.
Doctor Thomas Bending teaches in a number of mathematical related fields including combinatorics and graph theory, calculous and pure mathematics. His research areas include Combinatorics, SDP Designs and Combinatorial Problems associated with the UK National Lottery.