MSc Financial Mathematics

at University of Liverpool

Compulsory modules

• Econometric and Statistical Methods 
• Corporate Finance and Valuation 
• Measure Theory and Probability
• Stochastic Modelling in Finance 
• Numerical Analysis for Financial Mathematics 
• Interest Rate Theory 
• Stochastic Analysis and Its Applications 
• Main Dissertation 
   

Optional modules

• Financial Engineering 
• Applied Macroeconometrics 

This is a challenging programme so you’ll need a good first degree (2:1 Hons or equivalent) in Mathematics, Mathematical Sciences, Financial Mathematics, Computer Science, Engineering or a subject with substantial mathematical content.
 

• University transcripts and certified translations if applicable
• Degree certificates
• Evidence of English Language proficiency (EU and international applicants only)
• Personal statement
• Two references (on letter headed paper, signed and dated) 
   

You should have taken modules in Calculus, Linear Algebra, Probability and Statistics at an undergraduate level previously. It is also highly desirable to have knowledge of Differential Equations, Real and Complex Analysis, Numerical Methods, Operations Research, Portfolio Theory, Risk Management and Stochastic Processes.
 

English language qualifications

All applicants must have reached a minimum required standard of English language, and are required to provide evidence of this. Qualifications accepted by the University include: GCSE English; GCE O level English; AS Level English; A Level English Language; IELTS; TOEFL; Cambridge Proficiency etc. 
 

If you meet the academic requirements of the course but do not have the required level of English Language, it is possible for you to come and study at the University on one of our Pre-sessional EAP programmes.  Please see the English Language Centre website for further information about these programmes;
 

• IELTS    6.5 (with a minimum of 5.5 in each component)
• TOEFL iBT    88 or above with minimum scores in components as follows: Listening and Writing 17, Reading 17, Speaking 19.
• International Baccalaureate    Standard Level 5
• Hong Kong use of English AS level    C
• INDIA Standard XII    70% or above from Central and Metro State Boards
• WAEC    C4-6
   

Please be advised that TOEFL is no longer classified by UK Visas and Immigration as a Secure English Language Test (SELT). However, at the current time the university is continuing to accept TOEFL, at the required level, for entry on to Undergraduate and Postgraduate academic programmes. 

Tuition fees (Home)
 

• The University's tuition fees are normally fixed at yearly intervals and follow Government guidelines on minimum levels. The normal tuition fee for Home (UK) postgraduate taught students per year (for the academic year 2022/23, unless otherwise specified) are stated below.  Please note that part-time fees are charged at 50% of the full-time fee shown below per year (unless otherwise specified). 
• In addition to your tuition fees, you may incur other costs in relation to your studies such as photocopying in the library, buying textbooks and specialist equipment or going on field classes. See our study costs page for full details.
   

Fee for this course    Year 1: £11,500

International students
 

• International students are required to pay the full costs of their tuition in the UK with each university setting its own international fees. 
• The University of Liverpool's fees represent excellent value for money for a Russell Group University. The normal tuition fee for full-time international postgraduate taught students per year (for the academic year 2022/23, unless otherwise specified) will be as follows:
   

International fee for this course    Year 1: £23,500

Graduates of the MSc and PhD programmes move on to many different careers. Recent graduates have moved into fast track teacher programmes, jobs in finance (actuarial, banking, insurance), software development, drugs testing and defence work, as well as University postdoctoral or lecturing posts. The MSc programme is of course a natural route into doctoral study in Mathematics and related fields, both at Liverpool and elsewhere. Some of our PhD students move on to postdoctoral positions and to academic teaching jobs and jobs in research institutes, both in the UK and elsewhere.