MSc in Financial Mathematics

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The MSc in Financial Mathematics at Dublin City University is a one-year full-time or two-year part-time program that equips students with advanced mathematical skills for careers in quantitative finance. The program combines theory and practice, emphasizing the application of mathematical theory to solve real-world problems in finance and industry. Graduates are well-prepared for careers as quantitative analysts, risk analysts, financial modelers, and other quantitative roles in the financial services industry.

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Degree Overview

Overview:

The MSc in Financial Mathematics is a one-year full-time or two-year part-time postgraduate program offered by the School of Mathematical Sciences at Dublin City University (DCU). The program equips students with the advanced mathematical skills and knowledge required for success in the financial services industry, particularly in quantitative roles.

Objectives:

• Introduce students to advanced career opportunities in finance and quantitative fields.
• Deepen the understanding of mathematics for specialists in numerate disciplines (e.g., engineers, scientists, economists) and equip them with modern mathematical techniques.
• Enable students to identify and formulate mathematical problems arising in finance and industry, solve them using appropriate methods, and interpret the solutions in real-world contexts.

Description:

The MSc in Financial Mathematics combines the principles of mathematics, finance, and computing to prepare students for careers in the quantitative finance industry. The program features a strong focus on applying mathematical theory to solve practical problems in finance and industry. It emphasizes the integration of theoretical knowledge with practical applications, preparing students to successfully tackle real-world challenges in the financial world.

Outline

Program Content:

The MSc in Financial Mathematics curriculum covers various topics relevant to quantitative finance, including:

• Financial and industrial modeling
• Fundamentals of financial risk management
• Techniques of stochastic analysis

Structure:

The program consists of taught modules and a dissertation. Taught modules cover specific topics in financial mathematics, while the dissertation allows students to specialize in a chosen area and conduct independent research under the supervision of a faculty member.

Course Schedule:

The full-time program is delivered over one academic year, while the part-time program spans two years. The program's schedule is available upon request from the program director.

Modules:

Specific modules offered in the MSc in Financial Mathematics program include:

• Derivative Securities: This module covers the theory and practice of derivative securities, including options, futures, and swaps.
• Mathematical Finance: This module introduces the fundamental mathematical concepts used in finance, including stochastic calculus, partial differential equations, and numerical methods.
• Financial Risk Management: This module explores the different aspects of financial risk management, including market risk, credit risk, and operational risk.

Module Descriptions:

Detailed descriptions of individual modules can be obtained from the program director or the university website.

Assessment

Methods:

The MSc in Financial Mathematics program employs various assessment methods to evaluate student learning outcomes. These methods typically include:

• Written examinations: These assess students' understanding of theoretical concepts and their ability to apply them to solve problems.
• Continuous assessment: This includes assignments, quizzes, and presentations that evaluate students' progress throughout the semester.
• Dissertation: The dissertation is a significant component of the program, requiring students to demonstrate their research skills and ability to independently analyze and solve a complex problem in financial mathematics.

Criteria:

Assessment criteria vary depending on the specific assessment method. However, they generally focus on evaluating students' knowledge, understanding, application, analysis, critical thinking, and communication skills.

Teaching

Teaching Methods:

The MSc in Financial Mathematics program utilizes various teaching methods to enhance student learning. These include:

• Lectures: Faculty members deliver lectures to introduce key concepts and theories related to financial mathematics.
• Tutorials: Tutors conduct smaller group sessions to provide personalized support and guidance to students, addressing their individual needs and questions.
• Seminars: Invited speakers from the finance industry or academia share their expertise and insights with students through seminars and workshops.

Faculty:

The program boasts a team of experienced and highly qualified faculty members specializing in various areas of financial mathematics. The faculty actively engages in research and brings their expertise and knowledge to the classroom, ensuring students receive a high-quality and relevant education.

Unique Approaches:

The MSc in Financial Mathematics program distinguishes itself by:

• Focus on practical applications: The program emphasizes the application of mathematical theory to solve real-world problems in finance, preparing students for careers in quantitative finance.
• Integration of theory and practice: The program seamlessly integrates theoretical knowledge with practical applications, equipping students with the necessary skills and understanding to succeed in the field.
• Strong industry connections: The program benefits from strong connections with the financial services industry, providing students with access to guest lectures, internship opportunities, and potential career pathways.

Careers

Career Paths:

Graduates of the MSc in Financial Mathematics program can pursue diverse career paths in the financial services and banking industries. Some potential career opportunities include:

• Quantitative Analyst
• Risk Analyst
• Financial Modeler
• Trader
• Portfolio Manager
• Data Scientist

Opportunities:

Graduates are well-equipped to work in various quantitative roles within the financial services and banking industries. They possess the required skills and knowledge to analyze and manage financial risk, identify and exploit profitable opportunities, and contribute to the development of innovative financial products and services.

Outcomes:

The program prepares graduates for successful careers in quantitative finance, enabling them to secure employment in top financial institutions and contribute significantly to the industry.

Other

Additional Information:

• The program is the only one of its kind in Ireland and one of the longest-established programs in the field in Europe.
• DCU's School of Mathematical Sciences has a long-standing commitment to financial mathematics, holding the only Stokes Chair in Financial Mathematics in the country.
• The program offers excellent career opportunities for graduates, including positions in quantitative roles within the Fin Tech, Financial Services, and Banking industries.
• Non-EEA graduates are eligible to apply for the Third Level Graduate Programme to obtain a visa for up to two years for seeking employment, making it an attractive option for international students.

Tuition Fees and Payment Information:

Full time EU Status Fee €5,200 per annum Non EU Fee. €16,500 per annum Part time EU Status Fee Part-time 5 credit module €415/Dissertation €1,660/Plus Part Time Capitation Fee €170 Non EU Fee Part time 5 credit module €1,275/Dissertation €5,100/Plus Part Time Capitation Fee €170