Mathematics

Key information

Start date: October 2018
CampusSouth Kensington
ECTS: 90-93.4 credits

Duration
1 year full-time
2 years part-time

Applications for 2018

Open to applications for 2018 entry
Apply now

Overview

This course is designed to prepare you for a wide range of careers in quantitative finance and risk management.

Mathematical finance is a subject that is both mathematically challenging and deployed every day by sophisticated practitioners in the financial markets.

This course aims to provide you with everything you need to get into this area at a level where you can understand – and contribute to – industry practice and the latest research.

To achieve this, our modules are broad and cover both the necessary finance and economics background, and instruction in fundamental mathematics (stochastic analysis, partial differential equations, etc.).

Scientific computing (object-orientated programming in C++) is an integral part of the programme.

Study programme

You study three core modules in the Autumn term and four core modules in the Spring term. The three optional modules are taken in either or both of the Autumn and Spring terms (timetable dependent). The research project takes place over the summer and is submitted in September.

Part-time students take their core modules in the Autumn and Spring terms of years one and two. The optional modules are also taken in these terms (timetable dependent). Research project work takes place over the Summer terms of both years one and two, and is submitted in the September of year two.

Structure

Modules shown are for the current academic year, and are subject to change depending on your year of entry.

Structure

Core modules

You take all of the core modules below.

  • Computing in C++
  • Interest Rate Models
  • Mathematical Finance: An Introduction to Option Pricing
  • Quantitative Risk Management
  • Simulation Methods for Finance
  • Statistical Methods in Finance
  • Stochastic Processes

Optional modules

You choose three modules from below.

  • Advanced Methods in Derivatives Pricing
  • Algorithmic Trading and Machine Learning
  • Convex Analysis and Optimization
  • Data Analysis and Machine Learning
  • Financial Econometrics*
  • Fixed Income Markets
  • Numerical Methods for Finance
  • Statistics for Extreme Events*
  • Stochastic Calculus
  • Stochastic Differential Equations

* the two modules marked with an asterisk are from MSc Statistics and can only be taken together in place of your three choices.

Research project

A supervised thesis project lasting four months takes place towards the end of the programme. Our intention is that most projects will be carried out in association with a bank, finance house, hedge fund, consultancy or systems provider in the finance industry, and we endeavour to arrange suitable placements.

The project may be an internship, where you work full-time, or a collaborative arrangement where you work at the College and visit the company on a regular basis for project discussions.

Whichever route you choose, you will be assigned an academic project supervisor who will be a member of staff of the Mathematical Finance section.

Teaching and assessment

Teaching

  • Independent research project
  • Lectures
  • Tutorials
  • Problem classes
  • Problem sheets

Assessment

  • Courseworks
  • Dissertation
  • Oral presentations
  • Written examinations

Tuition fees and funding

The level of tuition fees you pay is based on your fee status, which we assess based on UK government legislation.

For more information on the funding opportunities that are available, please visit our Fees and Funding website.

Tuition fees

Tuition fees (Home and EU students)

2018 entry
Full-time £30,500
Part-time £15,250

Fees are charged by year of entry to the College and not year of study.

Except where otherwise indicated, the fees for students on courses lasting more than one year will increase annually by an amount linked to inflation, including for part-time students on modular programmes. The measure of inflation used will be the Retail Price Index (RPI) value in the April of the calendar year in which the academic session starts e.g. the RPI value in April 2019 will apply to fees for the academic year 2019–2020. 

Tuition fees (Overseas and Islands students)

2018 entry
Full-time £30,500
Part-time £15,250

Fees are charged by year of entry to the College and not year of study.

Except where otherwise indicated, the fees for students on courses lasting more than one year will increase annually by an amount linked to inflation, including for part-time students on modular programmes. The measure of inflation used will be the Retail Price Index (RPI) value in the April of the calendar year in which the academic session starts e.g. the RPI value in April 2019 will apply to fees for the academic year 2019–2020. 

Postgraduate Master's loan

If you are a Home or EU student who meets certain criteria, you may be able to apply for a Postgraduate Master’s Loan of up to £10,280 from the UK government. The loan is not means-tested, and you can choose whether to put it towards your tuition fees or living costs.

Scholarships

We offer a range of scholarships for postgraduate students to support you through your studies. Try our scholarships search tool to see what you might be eligible for.

There are a number of external organisations also offer awards for Imperial students, find out more about non-Imperial scholarships.

Accommodation and living costs

Living costs, including accommodation, are not included in your tuition fees.

You can compare costs across our different accommodation options on our Accommodation website.

A rough guide to what you might expect to spend to live in reasonable comfort in London is available on our Fees and Funding website.

Admissions

We welcome students from all over the world and consider all applicants on an individual basis.

For advice on the requirements for the qualifications listed here please contact the Department (details at the bottom of this page).

We also accept a wide range of international qualifications. If the requirements for your qualifications are not listed here, please see our academic requirements by country page for guidance on which qualifications we accept.

Admissions

Minimum academic requirement

Our minimum requirement is at least a 2.1 UK Honour's degree in mathematics, applied mathematics or physics.

International qualifications

The academic requirement above is for applicants who hold or who are working towards a UK qualification. 

We also accept a wide variety of international qualifications. For guidance see our Country Index though please note that the standards listed here are the minimum for entry to the College.

If you have any questions about admissions and the standard required for the qualification you hold or are currently studying then please contact the relevant admissions team.

English language requirement (all applicants)

All candidates must demonstrate a minimum level of English language proficiency for admission to the College.

For admission to this course, you must achieve the standard College requirement in the appropriate English language qualification. For details of the minimum grades required to achieve this requirement, please see the English language requirements for postgraduate applicants.

How to apply

All applicants must apply online.

You can usually apply for up to two courses, although your second choice will only be considered if your first-choice application is unsuccessful.

Most courses don't have a formal closing date, but popular courses close when they are full, so you should apply early to avoid disappointment. There may also be funding deadlines that apply to you.

You will need to upload documents with your applications, which may include transcripts and degree certificates.

Offer holders will need to pay a deposit to secure your place. This will be deducted from the balance of your tuition fees.

For full details on the online application process, or to start your application, please visit the How to Apply section of our website.

ATAS certificate

An ATAS certificate is not required for overseas students applying for this course.

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