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Stochastic Processes: Theory and Application MRes

Course Description

The MRes in Stochastic Processes is delivered through optional modules for the taught element followed by a large research project that contributes to the field in an explicit way, rather than merely applying existing knowledge.

Key Features

The Department of Mathematics hosts one of the strongest research groups in probability theory, especially in stochastic processes, in the UK. The senior members of this group are world leaders in their fields.

Course Content:

As a student on the MRes Stochastic Processes programme you will study a range of topics for the taught element including:

Stochastic Calculus based on Brownian Motion
Levy processes and more general jump processes
The advanced Black-Scholes theory
Theory and numerics of parabolic differential equations
Java programming

The Stochastic Processes: Theory and Application course consists of a taught part (60 credits) and a research project (120 credits). Students will have a personal supervisor for their research project from the start of their studies.

Research projects could be of a theoretical mathematical nature, or they could be more applied, for example in financial mathematics or actuarial studies. Some of the research projects will be of an interdisciplinary character in collaboration with some of Swansea's world class engineers. For such projects it is likely that EPSRC funding would be available.


The Aubrey Truman Reading Room, located in the centre of the Department of Mathematics, houses the departmental library and computers for student use. It is a popular venue for students to work independently on the regular example sheets set by their lecturers, and to discuss Mathematics together.

Our main university library, Information Services and Systems (ISS), contains a notably extensive collection of Mathematics books.


The ability to think rationally and to process data clearly and accurately are highly valued by employers. Mathematics graduates earn on average 50% more than most other graduates. The most popular areas are the actuarial profession, the financial sector, IT, computer programming and systems administration, and opportunities within business and industry where employers need mathematicians for research and development, statistical analysis, marketing and sales.

Some of our students have been employed by AXA, BA, Deutsche Bank, Shell Research, Health Authorities and Local Government. Teaching is another area where maths graduates will find plenty of career opportunities.


The results of the Research Excellence Framework (REF) 2014 show that our research environment (how the Department supports research staff and students) and the impact of our research (its value to society) were both judged to be 100% world leading or internationally excellent.

Visit the Stochastic Processes: Theory and Application MRes page on the Swansea University website for more details!

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Student Profiles

Entry Requirements

The entry requirements for the Stochastic Processes: Theory and Application MRes is a 2:1 Honours degree or equivalent in Mathematics, Computer Science or Engineering. English language requirement IELTS 6.0 (with a minimum of 5.5 in each component) or Swansea University recognised equivalent.

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