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Financial Engineering (MSc)

Course Description

This Master's degree in financial engineering offers advanced training in the quantitative skills used in modern financial institutions, including, most notably, valuation of securities and the measurement and management of portfolio risks. Training is provided in programming, numerical methods and statistics, and you will be given a grounding in pricing and risk management techniques.

A key feature is our emphasis on computational methods and the practical implementation of the pricing and risk management techniques you will learn. You will complete modules in programming, numerical methods and financial statistics, and most of the modules are illustrated by computer examples.

Economics and finance at Birkbeck have acquired an excellent reputation, not only for our research but also for the high quality of our professional training. Employers recognise the calibre of Birkbeck graduates in economics and finance. We take students who are determined to succeed and are prepared to undergo the rigours of a first-class training, whether they are studying full-time or part-time. We aim to produce world-class graduates who have a proven record of success in a challenging learning environment.

Why study this course at Birkbeck?

Equips you to work as a specialist quantitative analyst in financial institutions or to complete doctoral study in financial engineering.
Excellent reputation for the quality of our teaching, providing training for employers such as the Treasury and the Bank of England.
Birkbeck's Department of Economics, Mathematics and Statistics enjoys an international reputation and its economics and finance research groups stand among the foremost research groups in the country.

Visit the Financial Engineering (MSc) page on the Birkbeck, University of London website for more details!

(Student Profile)


3986.jpg Flonia has always had an ambition to complete a Master's programme, but couldn’t give up her job to study. Once she began looking into what was available, Flonia quickly decided that Birkbeck, University of London's MSc Finance, taught in the evenings was an excellent option. She says: 'I wanted to do a programme to increase my employability, and the fact that the course content was relevant and applicable to the finance world, combined with the reputation of the university was a key factor in deciding to study at Birkbeck.'

The other key factor for Flonia was the flexibility that studying in the evenings gave her. She comments: 'I was able to maintain my full-time job, as well as get my Master's, and that flexibility was very important. It works around your lifestyle, and allows you to have variety – a professional challenge in the day, and an intellectual challenge in the evening.'

As an international student, Flonia was pleased to discover that her classmates were from a wide variety of different backgrounds. She said: 'Studying with people of different ages and nationalities you get to learn from other people's lifestyles and experience. I'm happy that I made the choice to study at Birkbeck, it's given me a different perspective on working life and studying.'

Although studying alongside full-time work can be challenging, Flonia said that her lecturers and tutors understand this: 'I really appreciate being given plenty of time and support to prepare for assignments. The staff make a real effort to make things clear and easy to understand. All students get worried from time to time, but the lecturers at Birkbeck are very approachable and will support you.'

Careful planning, along with the support from lecturers have been key to managing the workload. Flonia explains: 'We were given a really useful presentation which helped me to plan timeframes for researching and writing my dissertation. I also have to plan time for attending lectures and reading the materials beforehand. It's helpful that the staff also make the lectures available on-line as well.'

Gaining a Master's while working full-time shows employers that you can handle pressure; and that's definitely a plus. Considering the friends that I've made, the support I've been given, the knowledge and the skills that I've gained, I would definitely recommend Birkbeck to others'

(Student Profile)

Anosh Zahir

4098.jpg Anosh Zahir, was working as a mortgage broker, but when the recession hit, he decided that the time was right for a career change. He missed being in an educational environment having left university nine years earlier, and after advice from a recruiter, decided that Birkbeck, University of London’s MSc Financial Engineering would help him both with his career change, and fulfil his passion for learning.

Although he hadn’t completed an undergraduate degree, Anosh spoke to the admissions tutors at Birkbeck who saw his potential, and allowed him to enrol onto a graduate diploma, from which he progressed onto the MSc.

Birkbeck’s Department of Economic, Mathematics and Statistics has a strong research reputation, and this was a key factor in Anosh’s decision to study at Birkbeck. He says: 'I didn’t want to learn something from five years ago, or even two or three years ago, as in finance that would be irrelevant by now. At Birkbeck I found that the lecturers knew what was going on in the industry and was really pleased to discover that they were directly involved in the finance sector.'

Anosh found that there was a lot of collaboration between the students on the course. He comments: 'The thing that distinguishes Birkbeck from other universities is that everyone who studies here has made a huge commitment to be here. People either have families, or they’re working, so they’re here to study hard. That motivation is passed onto everybody else and there was a lot of collaboration between the students.'

This motivation was important, as Anosh explains: 'Financial engineering is a demanding course. You need to be focussed. However, the course is structured in such a way that if you are motivated and manage your time, you can get really good grades and come out with excellent knowledge of the subject.'

Having graduated with distinction in 2011, Anosh feels that the objectives that he set out to achieve have been accomplished: he has a good degree from a prestigious University of London college and the relevance of the course to the industry meant that he was able to find a good job, as a business analyst at a bank in Canary Wharf.

His passion for studying has not abated though, and he is now planning to apply for a PhD at Birkbeck!


Postgraduate Support Scheme for final-year undergraduates (full-time) - 20+ Awards

We are pleased to announce that, for October 2015 entry, Birkbeck has a limited number of new £10,000 postgraduate scholarships. These scholarships are for students progressing from a full-time undergraduate degree to a part-time Master’s degree starting in 2015/16.

Value of Scholarship(s)



To be eligible for the scholarship you must be:Starting a 2-year part-time taught Master’s degree in 2015/16
Domiciled in the UK/EU
Progressing from an undergraduate course for which you were charged the higher tuition fee (applicable since 2012–13)
Studying at postgraduate Master’s level for the first time

Application Procedure

If you want to apply for this support, you must follow these steps:Submit an application for your intended course
Submit an application for the Postgraduate Support Scheme

Further Information


Entry Requirements

A good upper second-class degree or above (usually in a quantitative discipline, such as physics, engineering, statistics or mathematics), or an equivalent qualification. If you have completed a highly quantitative economics degrees, you will also be eligible. Substantial relevant work experience may be taken into account. You will need to have a strong background in mathematics and statistics, although we will provide additional instruction in necessary mathematical material. Demonstrable qualities, such as good time management and the ability to cope under pressure, are vital.

Course Fees

Part-time home/EU students: £ 9500 pa Full-time home/EU students: £ 18975 pa

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