Financial Mathematics
The role of Global Finance in the world has never been more complex. Events have shown how critical it is to have an understanding of the theory and logic behind the practice of financial decision-making, risk management and market behaviour.
| Award Name | Degree - Masters (Level 9 NFQ) |
|---|---|
| NFQ Classification | Major |
| Awarding Body | Dublin City University |
| NFQ Level | Level 9 NFQ |
| Award Name | NFQ Classification | Awarding Body | NFQ Level |
|---|---|---|---|
| Degree - Masters (Level 9 NFQ) | Major | Dublin City University | Level 9 NFQ |
Duration
1 Year Full Time or 2 Years Part Time
Entry Requirements
Requirements
For admission to the M.Sc. in Financial Mathematics
• Hold an award equivalent to an Honours B.Sc. or similar in any quantitative discipline, such as Mathematics, Statistics, Computer Science, Physics, Engineering and Economics.
• Candidates must have an honours primary degree in one of the above disciplines with not less than 50% grade in Calculus, Linear Algebra, Quantitative Methods or similar modules.
• Applicants with appropriate combinations of professional qualifications and work experience will also be considered.
• International candidates who are non-native speakers of English must satisfy the University of their competency in the English language.
Careers / Further progression
Careers
The recent explosion of the derivative security market has created an unprecedented need for highly sophisticated mathematics within the banking sector.
Graduates with a wide spectrum of general methods and the ability to adapt them to new situations are infinitely more valuable to an employer.
Graduates are employed in quantitative roles in the Fin Tech, Financial Services and Banking industries. Typically working to determine price, analyse and manage risk and identify profitable opportunities.
Global career opportunities:
Non-EEA graduates (including those from Asia and the MiddleEast) are eligible to apply for the Third Level Graduate Programme to obtain a visa for up to two years, for the purpose of seeking employment. Numerous students from the MiddleEast, the Asian subcontinent and the Far East have completed this programme and returned to lucrative careers in their home countries.
Further information
The programme commences in September 2024
Full time:
EU Status Fee: €5,200 per annum
Non EU Fee: €16,500 per annum
Part time
EU Status Fee Part-time
7.5 credit module €415/Dissertation €1,660/Plus Part Time Capitation Fee €170
Non EU Fee Part time
7.5 credit module €1,275/Dissertation €5,100/Plus Part Time Capitation Fee €170
All Applicants must apply through DCU's Student Application Portal - link above
Application Deadlines
Applications will be accepted on a rolling basis until the programme is full or until:
• Closing date for non EU applicants is 1st July 2024.
• Closing date for EU applicants is 31st July 2024.
Note applicants who require a study visa for the purposes of studying at DCU, are advised to apply as early as possible.
All entry requirements should be met before the commencement of the programme.
Application Queries
For EU applicant queries, please visit https://www.dcu.ie/registry/eu-postgraduate-taught-admissions or email postgraduateadmissions@dcu.ie
For non EU applicant queries, please visit https://www.dcu.ie/registry/international-admissions-undergraduate-and-postgraduate or email internationaladmissions@dcu.ie
To apply for this programme:
• All Applicants must apply through DCU's Student Application Portal.
• Academic Transcripts for each and every year of study with English translation if applicable.
• Please upload a CV under the "Supplemental Items & Documents" section.
• A brief Personal Statement outlining your background and motivation for applying to this programme.
• If applicable, provide evidence of competence in the English language as per DCU entry requirements.
Please see link http://www.dcu.ie/registry/english.shtml
Please note if you are a non EU student and require a study visa, you are not eligible to apply for part-time programmes as study visas are only granted for full-time programmes.
MSc in Financial Mathematics
Introduction
This course is about high-level mathematics applied to practical problems in finance and industry. The course combines the principles of maths, finance and computing to prepare you for a career in the Financial Services Industry. The course is designed for students with an undergraduate degree in Mathematics or cognate area, who wish to gain the competitive advantage required for by high-level quantitative roles.
The full power of a mathematical theory is only revealed when it is used to solve practical problems. For this reason, we believe that an integrated presentation of theory and its use in practice is the best approach.
During the course you will develop an in-depth knowledge of financial and industrial modelling, the fundamentals of financial risk management and the techniques of stochastic analysis.
In 2009, the School was awarded the only Stokes Chair in Financial Mathematics in the country and succeeded in attracting a leading academic from Boston University. Students will thus have the benefit of receiving tuition at the highest level.
The aims of the programme are:
• To open up advanced career opportunities for graduates of traditional mathematics courses
• To give specialists in other numerate disciplines (e.g. engineers, scientists or economists) the opportunity to deepen their understanding of mathematics and to master powerful modern mathematical techniques.
To achieve these aims it is intended:
• To introduce relevant problems and to explain the context in which they arise.
• To formulate these problems in mathematical terms.
• To instruct students in modern mathematical methods powerful enough to deal with these problems.
• To develop the student's ability to solve problems, by reformulating the problem and adapting mathematical methods.
Programme Academic Structure for 2023 - 2024, MSc in Financial Mathematics
This information is provisional & subject to change.
Year 1 Core Modules:
Code Title Credit Semester Exam % CA % Resit Category
MS508 Probability and Finance II (Advanced) 7.5 Semester 1 80 20 3
MS525 Fixed Income Securities (Advanced) 7.5 Semester 2 100 0 1
MS526 Stochastic Finance (Advanced) 7.5 Semester 2 100 0 1
MS537 Probability and Finance I (Advanced) 7.5 Semester 1 80 20 3
MS549 Financial & Actuarial Models (Adv) 7.5 Semester 1 75 25 1
MS555 Simulation for Finance 7.5 Semester 1 50 50 1
MS556 Deep Learning 7.5 Semester 2 0 100 1
Year 1 Optional Modules -
Code Title Credit Semester Exam % CA % Resit Category
MS510 Project 30 Autumn Semester 0 100 2
MS534 Optimisation 7.5 Semester 2 80 20 3
MS542 Work Placement Module 30 Autumn Semester 0 100 2
MS547 Time Series Advanced 7.5 Semester 2 70 30 1
Modular Programme Structure
Year C Optional Modules;
Code Title Credit Semester Resit Category
MS508 Probability and Finance II (Advanced) 7.5 Semester 1 3
MS510 Project 30 Autumn Semester 2
MS525 Fixed Income Securities (Advanced) 7.5 Semester 2 1
MS526 Stochastic Finance (Advanced) 7.5 Semester 2 1
MS534 Optimisation 7.5 Semester 2 3
MS537 Probability and Finance I (Advanced) 7.5 Semester 1 3
MS542 Work Placement Module 30 Autumn Semester 2
MS547 Time Series Advanced 7.5 Semester 2 1
MS549 Financial & Actuarial Models (Adv) 7.5 Semester 1 1
MS555 Simulation for Finance 7.5 Semester 1 1
MS556 Deep Learning 7.5 Semester 2 1
On completion of the programme, students will be competent:
• To recognise, through discussion with the in that field, the essential features of a given industrial process or economic situation.
• To assign variables and to formulate relationships in the form of mathematical equations.
• To solve equations by appropriate analytical, numerical or approximate methods.
• To interpret the mathematical solution in the idealised situation based on the essential features recognised above.
• To validate the model in the real situation.
• To make adjustments to the model in the event that it does not validate.
• To communicate the implications of the model and advise on its implementation.
+353 (0) 1 700 8921
paolo.guasoni@dcu.ie