Financial and Computational Mathematics (MSc) at University College Cork

Modern finance is increasingly reliant upon advanced mathematical and computational techniques for the modelling of asset and financial market movements, the design and valuation of financial derivatives, and portfolio management.

This course provides an appropriately rigorous treatment of branches of mathematics applicable to financial modelling, including measure-theoretic probability, stochastic processes in discrete and continuous time, and partial differential equations. It is mathematically challenging and requires prior familiarity with multivariate calculus, differential equations, linear algebra, probability, and statistics. You should also have some experience of programming.

The rapid increase in available computing speeds over the past fifteen years has led to the widespread adoption of sophisticated computational methods for financial modelling and the development of algorithmic approaches to market trading.

Computational methods form a core part of this course; we provide exposure to relevant software including Python, R and C#, and provide the option to study machine learning, which is emerging as an essential and rapidly developing tool in industry.

Why Choose This Course

Employers in the banking and investment sector require graduates with a deep understanding of the relevant mathematical concepts as well as the practical and computational skills associated with applying them. This course provides both, and is an opportunity for students pursuing mathematical degrees that are not specifically financial in nature to continue to studies in advanced mathematics with a financial focus, and therefore enhance their employment options.

The course combines mathematical rigour with an emphasis on computational finance and the opportunity to study machine learning, a combination that is currently unique in Ireland. The opportunity to work in teams is built into the programme structure.

UCC itself enjoys proximity to financial employers in Ireland (for the example in the IFSC in Dublin) and in other European financial centres, including London. Students applying from overseas may also wish to consider Ireland’s Third Level Graduate Scheme, details of which are available at http://inis.gov.ie/en/INIS/Pages/Student%20Pathway.

Skills and Careers Information

Graduates will be prepared for quantitative roles in the financial services sector and particularly in investment banking, including roles in financial engineering, quantitative finance, investment analysis and fund management. The programme also serves as a route to further study in this area.