Aims and Course Structure


The main aim of the part-time MSc in Mathematical Finance is to develop students' modelling, mathematical and computational skills in applications to finance.

The MSc course covers the most important technical and quantitative aspects of finance in regular use in banks and other financial institutions, from basic material to current research. There is also material on related subjects to give students a thorough grounding in the discipline and to enable them to make intellectual links between different topics.

There is a substantial interaction with ideas from applied mathematics, pure mathematics, statistics, computing and corporate finance.

Learning outcomes

  • Knowledge and Understanding
  • Cognitive / Intellectual Skills
  • Transferable / Key Skills
  • Discipline-specific Practical Skills

More specifically:

  • Formulation of suitable mathematical models for new problems
  • Identification and implementation of accurate and stable computational methods
  • Calibration of models to market data
  • Assessment of the validity and limitations of models

More detailed information on these can be found here.

Teaching Strategies

The course is taught by a mixture of the following strategies:

  • Lectures, including some by guest experts
  • Practical sessions
  • Guided reading
  • Course assignments
  • Dissertation

More detailed information on each of these can be found here.

Timeline of Course

The course is expected to take 28 months to complete; and comprises four core modules, two 2 hour examinations (assessing the core module material), three (out of a choice of 4) advanced modules, each assessed by a separate assignment, and finally a dissertation project.

Students start in the January of their first year, taking the core modules from January-June. The examinations typically take place in the September of the first year, and then students proceed to take three advanced modules from September until April of the second year. The dissertation project starts after completing the final advanced module assignment, up until the April of the third year.

For more detailed information on the course structure, please see our Course Structure pages.

Key dates

Module 1 (Core) 1st year - January
Module 2 (Core) 1st year - February
Module 3 (Core) 1st year - April
Module 4 (Core) 1st year - June


1st year - September

Module 5 (Advanced) 1st year - September
Module 6 (Advanced)

1st year - November/December

Module 7 (Advanced)

2nd year - February

Module 8 (Advanced) 2nd year - April
2nd year - after final module until 3rd year - April deadline


Course Leadership

The course is run by the Mathematical and Computational Finance Group, at the Mathematical Institute, University of Oxford.

Course Director: Dr Jeff Dewynne

Chair of Examiners: Professor Christoph Reisinger

Course Administrator: Mrs Sarah Davidson