Computational Mathematical Finance MSc
Awards: MSc
Study modes: Full-time, Part-time
Funding opportunities
Programme website: Computational Mathematical Finance
The courses, like Machine Learning in Python and Reinforcement learning, honed my programming skills and helped me gain deeper insights into applying machine learning techniques to finance. I believe every student can find courses that align with their interest in the programme.
The MSc in Computational Mathematical Finance (CMF) is a dynamic new programme with the aim to deliver high quality training in the theory of Mathematical Finance with strong emphasis on computational methods.
Currently graduates in this field are expected to have a working knowledge of advanced computational finance (including construction of algorithms and programming skills) as well as a sound knowledge of the theory of Probability and Stochastic Analysis. These are the core theories needed in the modern valuation of complex financial instruments.
This MSc programme delivers:
- a flexible programme of study relevant to the needs of employers such as: top investment banks, hedge funds and asset management firms
- a solid knowledge in financial derivative pricing, risk management and portfolio management
- the transferable computational skills required by the modern quantitative finance world
Links with Industry
The School of Mathematics has connections with a wide number of industrial partners, organisations, charities and government departments. As an MSc student in the School you will have opportunities to engage with these external organisations through regular employability events, careers workshops, and our annual analytics challenge (whose recent partners have included Edinburgh Airport and the Data and Marketing Association). There is also the opportunity to undertake a dissertation project with an external partner.
Recent partners for industry-based dissertations in the Computational Mathematical Finance MSc include:
- Moody's Analytics
- Barclays
- Directorate-General for Economic and Financial Affairs – European Commission (ECFIN)
- Predictiva
- Vega Protocol
This programme involves two taught semesters of compulsory and optional courses followed by your dissertation project. There are three streams: the Financial stream, the Computational stream and the Machine Learning stream. Each stream features different sets of compulsory and optional courses.
There are three streams: the Financial stream, the Computational stream and the Machine Learning stream*. Each stream features different sets of compulsory and optional courses.
Compulsory courses (for all streams) have previously included:
- Stochastic Analysis in Finance
- Discrete-Time Finance
- Python Programming
- Numerical Probability and Monte Carlo
- Risk-Neutral Asset Pricing
- Stochastic Control and Dynamic Asset allocation
- Research Skills for Financial Mathematics
Financial stream compulsory courses have previously included:
- Financial Risk Theory
- Optimization Methods in Finance
Computational stream compulsory courses have previously included:
- Time Series
- Numerical Partial Differential Equations
Machine Learning stream compulsory courses have previously included:
- Machine Learning in Python
Optional courses have previously included:
- Blockchains and Distributed Ledgers*
- Programming Skills*
- Finance, Risk and Uncertainty
- Bayesian Theory
- Reinforcement Learning*
- Algorithmic Game Theory and its Applications*
- Financial Risk Theory
- Credit Scoring
- Optimization Methods in Finance
- Bayesian Data Analysis
- Integer and Combinatorial Optimization
- Time Series
- Numerical Partial Differential Equations
*delivered by the School of Informatics
Dissertation projects
Dissertation projects on this programme can be undertaken in partnership with public and private sector organisations. Other students choose an academic project without a direct link to an external organisation.
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.
Award | Title | Duration | Study mode | |
---|---|---|---|---|
MSc | Computational Mathematical Finance | 1 Year | Full-time | Programme structure 2024/25 |
MSc | Computational Mathematical Finance | 2 Years | Part-time | Programme structure 2024/25 |
At the end of this programme you will have:
- developed personal communications skills, initiative, and professionalism within a mathematical context
- developed transferable skills that maximise your prospects for future employment, including writing, oral presentation, team-working, numerical and logical problem-solving, planning and time-management
- improved your ability to convey ideas in an articulate fashion, to build upon previous mathematical training and further develop logic and deductive skills
- mastered standard and advanced mathematical tools used to solve applied problems relevant to the mathematical finance industry
- developed quantitative and computational skills for the proficient fulfilment of tasks in the financial sector
Graduates can expect to go on to work in major financial institutions or to continue their studies by joining PhD programmes.
Student Support Team
In the School of Mathematics, we have a dedicated Student Support Team consisting of six staff members. You will have a Student Adviser who is your first point of contact during your time at the University of Edinburgh, and who is available to help and advise on a range of issues connected to your postgraduate study. Study support will be provided by academics acting as Cohort Leads, with wider teaching teams, who will work with students to connect you with your programme of study and provide you with more specialist subject support.
Student blogs
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.
These entry requirements are for the 2025/26 academic year and requirements for future academic years may differ. Entry requirements for the 2026/27 academic year will be published on 1 Oct 2025.
A UK 2:1 degree, or its international equivalent, in mathematics or a mathematical subject such as statistics, physics or engineering. You must also have relevant programming experience (at least one semester undergraduate programming course, in any language e.g. C, C++, Java, Python, passed at 2:1 level).
Students from China
This degree is Band B.
International qualifications
Check whether your international qualifications meet our general entry requirements:
English language requirements
Regardless of your nationality or country of residence, you must demonstrate a level of English language competency which will enable you to succeed in your studies.
English language tests
We accept the following English language qualifications at the grades specified:
- IELTS Academic: total 6.5 with at least 6.0 in each component. We do not accept IELTS One Skill Retake to meet our English language requirements.
- TOEFL-iBT (including Home Edition): total 92 with at least 20 in each component. We do not accept TOEFL MyBest Score to meet our English language requirements.
- C1 Advanced (CAE) / C2 Proficiency (CPE): total 176 with at least 169 in each component.
- Trinity ISE: ISE II with distinctions in all four components.
- PTE Academic: total 65 with at least 59 in each component. We do not accept PTE Academic Online.
- Oxford ELLT: 7 overall with at least 6 in each component.
Your English language qualification must be no more than three and a half years old from the start date of the programme you are applying to study, unless you are using IELTS, TOEFL, Trinity ISE or PTE, in which case it must be no more than two years old.
Degrees taught and assessed in English
We also accept an undergraduate or postgraduate degree that has been taught and assessed in English in a majority English speaking country, as defined by UK Visas and Immigration:
We also accept a degree that has been taught and assessed in English from a university on our list of approved universities in non-majority English speaking countries (non-MESC).
If you are not a national of a majority English speaking country, then your degree must be no more than five years old at the beginning of your programme of study.
Find out more about our language requirements:
Application fee
None.
Deposit
None.
Additional programme costs
None.
Living costs
You will be responsible for covering living costs for the duration of your studies.
Tuition fees
Award | Title | Duration | Study mode | |
---|---|---|---|---|
MSc | Computational Mathematical Finance | 1 Year | Full-time | Tuition fees |
MSc | Computational Mathematical Finance | 2 Years | Part-time | Tuition fees |
Funding for postgraduate study is different to undergraduate study, and many students need to combine funding sources to pay for their studies.
Most students use a combination of the following funding to pay their tuition fees and living costs:
- borrowing money
- taking out a loan
- family support
- personal savings
- income from work
- employer sponsorship
- scholarships
Explore sources of funding for postgraduate study
School of Mathematics Masters Scholarships
The School of Mathematics is offering a number of 50% tuition fee scholarships for applicants applying to study a Masters programme in Mathematics. These will be based on academic merit and available to applicants domiciled in the eligible countries.
UK government postgraduate loans
If you live in the UK, you may be able to apply for a postgraduate loan from one of the UK’s governments.
The type and amount of financial support you are eligible for will depend on:
- your programme
- the duration of your studies
- your tuition fee status
Programmes studied on a part-time intermittent basis are not eligible.
Other funding opportunities
Search for scholarships and funding opportunities:
- Admissions Contact (lines open Mon-Fri 10am-4pm)
- Phone: +44 (0)131 650 5737
- Contact: futurestudents@ed.ac.uk
- Programme Director, Dr Jiawei Li
- Contact: cmfmsc@ed.ac.uk
- School of Mathematics
- James Clerk Maxwell Building
- The King's Buildings Campus
- Edinburgh
- EH9 3FD
- Programme: Computational Mathematical Finance
- School: Mathematics
- College: Science & Engineering
Applying
Select your programme and preferred start date to begin your application.
MSc Computational Mathematical Finance - 1 Year (Full-time)
MSc Computational Mathematical Finance - 2 Years (Part-time)
Programme start date | Application deadline |
---|---|
8 September 2025 | 31 August 2025 |
Due to high demand, the school operates a number of selection deadlines.
We strongly recommend you apply as early as possible. Applications may close earlier than the published deadlines if there is exceptionally high demand.
We will make a small number of offers to the most outstanding candidates on an ongoing basis, but hold the majority of applications until the next published selection deadline.
We aim to make the majority of decisions within eight weeks of the selection deadline.
If we have not made you an offer by a specific selection deadline this means one of two things:
- your application has been unsuccessful, in which case we will contact you to let you know, or
- your application is still being considered, will be carried forward for consideration in the next selection deadline and we will be in touch once a decision is made
Due to high demand for this programme, we operate on a series of selection deadlines.
We strongly recommend you apply as early as possible. Applications may close earlier than the published deadlines if there is exceptionally high demand.
We may make a small number of offers to the most outstanding candidates on an ongoing basis. However, the majority of applications will be held until the advertised deadline.
We aim to make the majority of decisions within eight weeks of the selection deadline.
If we have not made you an offer by a specific selection deadline this means one of two things:
- your application has been unsuccessful, in which case we will contact you to let you know
- your application is still being considered, it will be carried forward for consideration in the next selection deadline, and we’ll be in touch once a decision is made
The final deadline may be extended if any places remain on the programme.
Selection deadlines
Round | Application deadline | Decisions made or applications rolled to the next deadline |
---|---|---|
1 | 15 December | 1 March |
2 | 31 March | 31 May |
3 | 31 May | 31 July |
You must submit one reference with your application.
Find out more about the general application process for postgraduate programmes:
Further information
- Admissions Contact (lines open Mon-Fri 10am-4pm)
- Phone: +44 (0)131 650 5737
- Contact: futurestudents@ed.ac.uk
- Programme Director, Dr Jiawei Li
- Contact: cmfmsc@ed.ac.uk
- School of Mathematics
- James Clerk Maxwell Building
- The King's Buildings Campus
- Edinburgh
- EH9 3FD
- Programme: Computational Mathematical Finance
- School: Mathematics
- College: Science & Engineering