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MSc Financial Mathematics

About the MSc programme

This programme is based in the Department of Mathematics, and is taught in collaboration with the Department of Finance and the Department of Statistics. The programme provides high-level instruction in the mathematical theory underlying finance, and training in appropriate computational methods. It offers the following benefits:

  • focus on the development of student understanding of quantitative methodologies and techniques that are important for a range of jobs in investment banks and other financial institutions
  • research-led teaching that aims to enhance students' critical appreciation of major issues and emerging theory in the area of financial mathematics
  • opportunity to improve personal skills, including logical reasoning, quantitative analysis and the presentation of technical results

This programme aims to develop students' understanding of the foundations of financial mathematics, and to equip them with knowledge of a range of mathematical and computational techniques that are required for a variety of quantitative positions in the financial sector.

It draws on LSE's strengths in finance and related areas, and includes compulsory and optional courses given by the Department of Mathematics, the Department of Finance and the Department of Statistics.

This MSc is mathematically advanced, and applicants should have a very strong mathematics background and a minimum of a BSc degree of first or upper second class in mathematics or a mathematics-based subject, or an equivalent qualification. Prior knowledge of finance or computing is not required.

Programme details

The programme starts with a compulsory pre-sessional course, the purpose of which is to introduce some key concepts and techniques of relevant mathematical theory, such as probability. The pre-sessional course also includes an introduction to programming in C++.

Students are required to take courses to the value of four full units: this usually equates to approximately 12 contact hours per week in the two main teaching terms (depending on the course modules chosen - there may be some variety of practice depending on which department teaches the course). Lecturers also offer weekly office hours.

Compulsory courses

(* half unit)

Students will be expected to choose courses to the value of one and a half units from a range of options. Optional courses cover topics including stochastic analysis, preferences, optimal portfolio choice, equilibrium, derivatives modelling, Markov processes, financial risk analysis, international finance, and forecasting of financial time series.

You can find the most up-to-date list of optional courses for MSc Financial Mathematics in the Programme Regulations section of the current School Calendar.

You must note however that while care has been taken to ensure that this information is up-to-date and correct, some circumstances may cause the School to subsequently change, suspend or withdraw a course or programme of study, or change the fees that apply to it. The School will neither be liable for information that after publication becomes inaccurate or irrelevant, nor for changing, suspending or withdrawing a course or programme of study due to circumstances outside of its control. You must also note that places are limited on some courses and/or subject to specific entry requirements. The School cannot therefore guarantee places on its courses. You should visit the School's Calendar, or contact the relevant academic department, for information on the availability and/or content of courses and programmes of study. Certain substantive changes will be listed on the Updated graduate course and programme information page.

Graduate destinations

This programme is ideal preparation for a range of careers in the financial sector, industry and research.


Application code: G1U3 check availability)

Start date: Mandatory pre-sessional course begins mid September 2016

Duration: 10 months full-time (including pre-sessional) (10 month master's programmes are not compliant with the Bologna process which may affect the extent to which they are 'recognised'. For more information on Bologna, please see Bologna process)

Intake/applications in 2014: 24/586

Minimum entry requirement: First class or upper second class honours degree in mathematics or another mathematics-based subject (see entry requirements)

English requirement: Standard (see English requirements)

GRE/GMAT requirement: None

Fee level: UK/EU £24,936; overseas £25,440

Financial support: Graduate Support Scheme (see Fees and financial support)

Application deadline: None – rolling admissions