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.
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.
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.
View the current course structure
This programme is the only one of its type in Ireland and one of the longest established in the field in Europe (1996).
The DCU School of Mathematical Sciences has a long-standing commitment to the field of financial mathematics and in 2009 was awarded the only Stokes Chair in Financial Mathematics in the country. The School is also home to the Edgeworth Centre for Financial Mathematics.
Under the terms of the Third Level Graduate Programme, graduates from a Non-EEA country who have been awarded a degree from a recognised third level education institution in Ireland may remain in Ireland for a period after their studies for the purpose of seeking employment.
Mr Abhishek Kulkarni, a graduate of PES University, Bangalore, completed the MSc in Financial Mathematics in Dublin City University.
He went on to obtain a lecturing position in the American College in Dublin, and returned to India in 2015 to take up a position at the cutting edge of finance as a Technical Trainer with QuantInsti in Mumbai. QuantInsti is one of Asia’s pioneer Algorithmic Trading Research and Training Institutes.
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.
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. More information about DCU's English language requirements can be found here.