Postgraduate study

Financial Mathematics

Awards: MSc

Study modes: Full-time

Funding available

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)

Find out more about compulsory and optional courses

We link to the latest information available. Please note that this may be for a previous academic year and should be considered indicative.

AwardTitleDurationStudy mode
MScFinancial Mathematics (jointly with Heriot-Watt University)1 YearFull-timeProgramme structure 2017/18

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.

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. See the programme website for further information.

General information on costs

Find out more about tuition fees and studying costs:

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

General information on scholarships and funding

Find out more about scholarships and funding opportunities:

  • Room 6313
  • James Clerk Maxwell Building
  • The King's Buildings Campus
  • Edinburgh
  • EH9 3JZ

Further information

  • Room 6313
  • James Clerk Maxwell Building
  • The King's Buildings Campus
  • Edinburgh
  • EH9 3JZ