Do you enjoy mathematics and want to pursue a career in the financial sector? The Master Programme in Financial Mathematics offers a mix of statistical and mathematical tools that will make you well prepared for the professional life. Since all the teachers at the programme are active researchers, you will also have the opportunity to immerse yourself in the theoretical aspects of financial mathematics.
Why this programme?
In this specialisation, you will begin your studies with courses in economics and financial derivatives. Then you will study courses in which you will deepen your knowledge in statistics and mathematical analysis with applications in finance. The programme includes training in performing extensive calculations and computer simulations of financial phenomena. This combination between mathematics, finance and simulations will give you good prospects for a successful career in the financial sector.
If you are interested in the mathematical aspects of finance, you will have the option to choose a more theoretical path. This focus will prepare you for further doctoral studies if you want to invest in a career in research. The programme provides a great freedom of choice, as you will be able to select courses that suit your interests, whether it is mathematical theory or financial applications.
The mathematical research in Uppsala has traditionally been dominated by analysis. You may have heard of Lennart Carleson who was awarded the Abel Prize or Arne Beurling who cracked the German coding machine Geheimfernschreiber during World War II. They were both very prominent in harmonic analysis. Another strong area of research in Uppsala at the time was differential geometry. But during the 1990s, an internationalisation took place and our research has grown since, both in terms of the number of researchers and research areas. Financial mathematics came to Uppsala right after the internationalisation process, and today we have both education and research in financial mathematics.
The programme leads to a Master of Science (120 credits) with Financial Mathematics as the main field of study. After one year of study it may also be possible to obtain a Master of Science (60 credits).
Instruction is conducted mainly in the form of lectures, tutorials and seminars, and the language is English. The programme takes place in Uppsala.
The tutors belong to the various research groups at the Department of Mathematics. These groups are very active and hold regular seminars where Master's students are welcome to attend. More information about the research is available on www.math.uu.se.
Mathematical skills are necessary in all industries where large amounts of information need to be processed. If you don’t know what mathematicians outside academia do, it's probably because mathematicians usually have other titles. Did you know, for example, that there are mathematicians who work in medical research?
If you want pursue a career in finance, this specialisation is the right way to go. Many of our alumni who have obtained a Master's degree in financial mathematics work as different types of analysts, mainly in the banking sector. Another title that is becoming more common among our former students is data scientist. Although most graduates in financial mathematics work outside academia, several of our alumni have continued to graduate studies, both in Sweden and abroad.
Our alumni work at companies such as: Combient, Swedbank, First Derivatives, Accenture, Qliro, Max Matthiessen, Hoist Finance and many more.
The Department of Mathematics arranges a career day for mathematicians once a year. There, mathematics students meet professional mathematicians who tell about their career paths. The department is also helpful with other types of contacts with the professional life.
Requirements: Academic requirements A Bachelor's degree, equivalent to a Swedish Kandidatexamen, from an internationally recognised university. Also required is 90 credits in mathematics with 20 credits in probability theory, programming and/or numerical analysis.
Language requirements All applicants need to verify English language proficiency that corresponds to English studies at upper secondary (high school) level in Sweden ("English 6"). This can be done in a number of ways, including through an internationally recognised test such as TOEFL or IELTS, or through previous upper secondary (high school) or university studies. The minimum test scores are:
IELTS: an overall mark of 6.5 and no section below 5.5
TOEFL: Paper-based: Score of 4.5 (scale 1–6) in written test and a total score of 575. Internet-based: Score of 20 (scale 0–30) in written test and a total score of 90
a total appraisal of quantity and quality of previous university studies; and
a statement of purpose (1 page).
If you are not a citizen of a European Union (EU) or European Economic Area (EEA) country, or Switzerland, you are required to pay application and tuition fees. Fees cover application and tuition only and do not cover accommodation, academic literature or the general cost of living. Read more about fees.