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Master of Philosophy (by Coursework and Dissertation) specialising in Mathematical Finance [CM033BUS18]

The Division of Actuarial Science in the School of Management Studies in conjunction with the Department of Statistical Sciences offers an MPhil in Mathematical Finance by coursework and dissertation. This degree is mathematical in nature and requires a high level of skill in statistics and mathematics. The qualification is intensive and challenging‚ and combines training in applied mathematical‚ statistical and computing skills with a solid understanding of financial markets and asset pricing theory. It consists of 2 preliminary courses that run 4 weeks prior to the start of the rest of the degree‚ 150 credits of coursework and a minor dissertation.

Graduates of this degree are well-equipped for careers in the most sophisticated areas of investment banking‚ asset management‚ risk management‚ or any career where a solid quantitative finance or financial engineering background is useful. They may also pursue doctoral research in quantitative finance. The programme has been designed to accommodate students from a wide variety of backgrounds.

Entrance requirements

There are limited places on the degree and admission is based on merit. Applicants must have an Honours (or four–year equivalent) degree from one of the Faculties of Science‚ Commerce or Engineering.
Applicants should be aware that this is predominately a mathematical degree and preference will be given to candidates with a strong background in a mathematical science.

Successful completion of one year of Mathematical Statistics and at least two years of Mathematics‚ with exposure to multivariate calculus‚ real analysis and linear algebra is the minimum mathematical requirement. Admission is at the discretion of the admissions committee and meeting the minimum requirements does not guarantee admission.

Once admitted, candidates must pass or gain credit for the pre–courses to continue with the degree.


The degree is offered over one year‚ full–time; begins in January and ends in January of the following year. With the approval of their supervisor‚ students may be permitted to re–register for the dissertation in the year following coursework‚ but fees will be payable.

Convener: Associate Professor David Taylor

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