DPhil (PhD) studies in the Mathematical and Computational Finance Group

This page aims to provide relevant information for candidates who consider applying for DPhil studies in the Mathematical and Computational Finance Group at Oxford. It focuses on the specifics related to our group and should be read in conjunction with the general admissions guidelines of the Mathematical Institute.

Why MCFG @ Oxford

The Mathematical and Computational Finance Group at Oxford is one of the largest and most dynamic research environments in mathematical finance in the world. We combine core mathematical expertise with interdisciplinary approach. We foster lively interactions between researchers coming from different backgrounds and a truly impressive seminar programme, all this within one of the world's top universities, singular through its tradition and unique environment. If you are passionate about mathematics and research and want to pursue a DPhil in Financial Mathematics, Oxford simply offers one of the best and most exciting places to do it!


We admit outstanding students from worldwide. Admissions are a three stage process. First, all students have to follow the standard application procedure. On your application form you will indicate your interest in Mathematical Finance and the application will find its way to our group. Second, selected applicants are then invited for an interview -- either in person or by (video) phone. Third, successful applicants who are admitted to the programme enter the competition for funding (see below).
Each year we receive a large number of excellent applications. The selection process is extremely competitive and we can only admit a handful of candidates each year.


Students admitted to the programme enter into a competition for funding. There are many sources of funding available which are either specific to the Mathematical Institute, University wide or come form independent scholarship bodies. Please note that some funding opportunities have deadlines so early applications are essential.
Furthermore, MCFG has its own funding available which we can use to support outstanding candidates. We can either fully fund or contribute to the partial funding secured by student. These additional funding opportunities are at the discretion of the MCFG, there is no formal application or eligibility criteria and all students who are admitted to the programme are considered.

Research Programme and Supervisor Allocation

We welcome students with their own particular ideas of research topic as well as students with a broad interest in the field of Mathematical Finance. You have an opportunity to tell us about your research passions, and indicate potential supervisors, in your application form. This will be followed up during the interview. In the light of this, if you are offered a place, an appropriate supervisor will be proposed prior to your arrival in Oxford. However, there can be some flexibility over this once you arrive.  Keeping with the Oxford tradition, we offer our students independence and respect as early researchers, and always aim to match students with the most appropriate supervisors.

Taught Courses

DPhil students are encouraged to take a number of graduate courses. These include lectures in the full-time MSc Programme in Mathematical and Computational Finance as well as Part C lectures in the Mathematical Institute. Note however that the possibility to attend a given lecture course is not automatic and, although usually granted, is subject to permission from the Lecturer.

We look forward to receiving your application. Good luck!