The financial services industry place great emphasis on raising the level of mathematics used in banks in applications to pricing, hedging and risk management. This MSc provides students with the skills necessary in mathematics, statistics and computation for a career in this fast-developing field.
Students will develop a detailed understanding of the application of mathematics, statistics and computation to problems in finance, and will gain the necessary practical tools for the pricing, hedging and risk management of a diverse range of financial products in several asset classes.
Students undertake modules to the value of 180 credits.
The programme consists of four core modules (60 credits) four optional modules (60 credits) and a research dissertation (60 credits).
A Postgraduate Diploma will be offered to the students that have completed 8 taught modules (120 UCL credits).A Postgraduate Certificate will be offered to the students that have completed 4 taught modules (60 UCL credits).
-Asset Pricing in Continuous Time
-Interest Rates and Credit Modelling
-Quantitative and Computational Finance
Optional modules - four modules must be chosen from the following list:
-Applied Computational Finance
-Equities, Foreign Exchange and Commodities Modelling
-Market Risk, Measures and Portfolio Theory
-Mathematics and Statistics of Algorithmic Trading
-Numerical Analysis for Finance
-Quantitative Modelling of Operational Risk and Insurance Analytics
All MSc students undertake an independent research project, which culminates in a research report of approximately 10,000 words.
Teaching and learning
The programme is delivered through a combination of lectures, practical classes, tutorials and problem-solving exercises. Assessment is through written papers, coursework, examinations and the research report and presentation.
Many students have progressed to careers in financial services in the City of London or in their home country; a number of graduates have proceeded to a PhD.
Top career destinations for this degree:
-University Teacher, Chechen State University
-Operational Permanent Control Analyst, BNP Paribas
-UK Education Consultant, SI-UK Education Council
-CFA (Chartered Financial Analyst), Quartic Training
-MSc Financial Mathematics, University College London
The financial services industry requires quantitative finance professionals who are able to analyse data, to program, and who are expert in mathematics and computational statistics. Career prospects for graduates of this programme are excellent.
Why study this degree at UCL?
UCL Mathematics is an internationally renowned department which carries out excellent individual and group research applying modelling techniques to problems in financial, industrial, biological and environmental areas.
The department hosts a stream of distinguished international visitors. In recent years four staff members have been elected fellows of the Royal Society, and the department publishes the highly regarded research journal Mathematika.
A notable aspect of this applied Master's programme is that students will be educated to an advanced level in statistics and computing.
A minimum of an upper second-class Bachelor's degree in a relevant discipline from a UK university or an overseas qualification of an equivalent standard.