Postgraduate study

Financial Mathematics MSc

Awards: MSc

Study modes: Full-time

Funding opportunities

Placements/internships

Programme website: Financial Mathematics

This MSc programme is run by Heriot-Watt University jointly with The University of Edinburgh. Upon graduation, you will receive a degree certificate bearing crests of both universities.

It provides you with expertise in financial mathematics, including stochastic calculus, and a range of practical techniques for analysing financial markets. You will also learn quantitative skills for developing and managing risk that are in high demand.

This programme involves two taught semesters of compulsory and optional courses, followed by a dissertation project.

The teaching is shared between Heriot-Watt University (HW) and The University of Edinburgh (UoE). The timetable is arranged so that you spend three days a week at the Heriot-Watt Riccarton Campus and two days a week at University of Edinburgh’s King’s Buildings Campus.

The dissertation project is either carried out with an industrial partner (e.g. Aberdeen Asset Management, Moody’s Analytics and Lloyds Banking Group) or supervised by academics at Heriot-Watt University. The programme typically involves the following courses.

Compulsory courses:

  • Credit Risk Modelling (HW)
  • Derivatives Markets (HW)
  • Derivative Pricing and Financial Modelling (HW)
  • Discrete-Time Finance (UoE)
  • Financial Markets (HW)
  • Special Topics 1 (UoE)
  • Special Topics 2 (HW)
  • Stochastic Analysis in Finance (UoE)

Option courses:

  • Optimization Methods in Finance (UoE)
  • Financial Econometrics (HW)
  • Portfolio Theory (HW)
  • Numerical Techniques of Partial Differential Equations (HW)
  • Simulation (UoE)
  • Statistical Methods (HW)
  • Statistical Inference (HW)
  • Time Series Analysis (HW)
  • Stochastic Control and Dynamic Asset Allocation (UoE)

Adding depth to your learning, our work placement programme puts you at the heart of organisations such as Aberdeen Asset Management, Moody’s Analytics and Lloyds Banking Group.

Graduates typically work in major financial institutions or continue their studies by joining PhD programmes.

Learn about what life is like as a MSc student in the School of Mathematics, by hearing from the people that have experienced it first-hand! Our student bloggers come from all across the world, and have studied on a variety of our MSc programmes.

Applications are administered by Heriot-Watt University. See their programme website for further information.

International qualifications

Check whether your international qualifications meet our general entry requirements:

English language requirements

Applications are administered by Heriot-Watt University. See their programme website for further information.

Find out more about our language requirements:

Programme fees are administered by Heriot-Watt University.

Students must apply direct to Heriot-Watt University for funding opportunities.

General information on scholarships and funding from the University of Edinburgh

Search for scholarships and funding opportunities:

  • Room 1.25 Earl Mountbatten Building
  • Heriot-Watt University
  • Edinburgh
  • EH14 4AS

We encourage you to apply at least one month prior to entry so that we have enough time to process your application. If you are also applying for funding or will require a visa then we strongly recommend you apply as early as possible.

Further information

  • Room 1.25 Earl Mountbatten Building
  • Heriot-Watt University
  • Edinburgh
  • EH14 4AS