UCC Postgraduate courses

Financial and Computational Mathematics

About This Course

Fact File

  • Title

    Financial and Computational Mathematics

  • Code

    MSCFCM

  • College

    Science, Engineering and Food Science

  • Duration

    1 Year

  • Teaching Mode

    Full-time

  • Qualifications

    MSc

  • EU Fees 2021

    €8,130
    See Fees and Costs for full details.

  • Non-EU Fees 2021

    €18,130

  • Entry Requirements

    See Requirements for full details.

  • Closing Date

    Closed for applications: we will reopen in November

  • Non-EU Closing Date

    Extended until 31 July 2021.

  • Start Date

    13 September 2021

Course Outline

Our postgraduate Financial and Computational Mathematics programme equips graduates in mathematics, physics, or engineering with the skills necessary to pursue a successful career in quantitative finance. Modern financial technology is based upon sophisticated computational techniques for the modelling of asset and market movements, and the valuation of financial derivatives. Employers actively seek graduates with an understanding of the mathematical background as well as the computational skills needed to apply it; this course provides a solid grounding in both these disciplines and includes a team-based research project with opportunities to work in partnership with the industry.

Career Opportunities

Past graduates of this programme have been recruited to roles in quantitative finance (China Reinsurance Corporation, Quaternion Risk Management/Acadia Inc., Kroll Bond Ratings Agency), and some have moved on to SFI-funded study at PhD level in the application of machine learning to finance. This programme will prepare you for a broad selection of roles in the financial services sector and particularly in quantitative finance, financial engineering, and investment analysis. 

Programme Structure

  • Part I of the programme comprises 60 credits of taught modules.
  • Part II comprises a dissertation in Financial and Computational Mathematics worth 30 credits.

Part I

Core Modules

Each module is 5 credits unless otherwise noted.

  • MF6010  Probability Theory in Finance (10 credits)
  • MF6011  Derivatives, Securities, and Option Pricing
  • MF6012  Computational Finance I
  • MF6013  Computational Finance II
  • MF6014  Topics in Financial Mathematics
  • MF6015  Continuous-Time Financial Models
  • AM6004  Numerical Methods and Applications
  • CS6322  Optimisation

Elective Modules

Choose 15 credits from:

  • AM4062  Applied Stochastic Differential Equations
  • AM6007  Scientific Computing with Numerical Examples
  • AM6019  Partial Differential Equations
  • ST4400  Data Analysis II
  • ST6040  Machine Learning and Statistical Analytics I
  • ST6041  Machine Learning and Statistical Analytics II
  • CS6503  Introduction to Relational Databases

Part II

  • MF6016  Dissertation in Financial and Computational Mathematics (30 credits)

Note: Module selection must be approved by the module coordinator.

Further details on the modules listed above can be found in our Book of Modules. Any modules listed above are indicative of the current set of modules for this course but are subject to change from year to year. You can find the full academic content for this programme at University Calendar (Financial & Computational Mathematics).

Modules

Further details on the modules listed above can be found in our book of modules. Any modules listed above are indicative of the current set of modules for this course but are subject to change from year to year.

University Calendar

You can find the full academic content for the current year of any given course in our University Calendar.

Course Practicalities

In Semesters 1 and 2 you can expect to attend an average of 12 hours of lectures and 6-8 hours of tutorials and lab sessions per week, which will be spread evenly throughout the working day. The remainder of your time will be spent in independent study, exercises, and assignments.

Semester 3 will be entirely devoted to a substantial research project which requires you to write, submit and defend a dissertation. Computer labs are provided on campus with all relevant software packages, though students are also encouraged to have access to a laptop of their own.

Teaching at UCC is research-led, and the course is delivered by faculty staff from the School of Mathematical Sciences, including mathematicians, statisticians, and computer scientists who are internationally recognised for their research, ensuring that you will have access to up-to-date knowledge in the field. Relevance to current industry practice is ensured by our Industry Advisory Committee.

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 example the International Finances Services Centre [IFSC] in Dublin) and in other European financial centres, including London.

Connected Curriculum

Our learning approach reflects our commitment to the Connected Curriculum where we emphasise the connection between students, learning, research and leadership through our vision for a Connected University. Our staff are at the forefront of this integrative approach to learning and will support you in making meaningful connections within and between topics such as mathematics, finance, and technology.

Available Scholarships

We support our postgraduate community by offering scholarships and bursaries to prospective and current students. Please see the SEFS Scholarships and Funding PG page for more information.

Skills and Careers Information

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.

What our students say:

The three areas that have most interested me are mathematics, finance and programming/software development. Thanks to what I had learned and developed through this MSc programme, I was able to demonstrate a good understanding of the methodologies and risk management framework on which my current company (Acadia) builds upon with their analytics software, and I was able to get up to speed with our full tech stack at a quick pace...

Nathaniel Volfango, Graduate 2021Quantitative Developer at AcadiaSoft

I absolutely love maths and its logical problem-solving element. I enjoyed programming from my undergrad, and so this course was the natural way to go to learn more about a field that incorporates both of these subjects in a practical financial context. This programme has helped me learn a lot more and develop skills that I know are in high demand in the finance sector...

Arinjoy Bhanja, Student

Requirements

  • Candidates must have obtained at least a 2.2 degree or equivalent in the mathematical sciences or another quantitative subject.
  • Candidates who have obtained at least a 2.2 honours degree in Engineering or Physics will be considered and should be able to demonstrate to the Course Coordinator some prior experience of probability and statistics, linear algebra, multivariate calculus, ordinary differential equations, and programming.
  • Candidates, for whom English is not their primary language, should possess an IELTS of 6.5 (or TOEFL equivalent) with no less than 6.0 in each individual category.
  • All candidates must be ultimately approved by the Course Co-ordinator.

Overseas applicants who wish to study in Ireland should consult the Department of Justice Study in Ireland webpage at: https://www.irishimmigration.ie/coming-to-study-in-ireland/.

English Language Requirements

Applicants that are non-native speakers of the English language must meet the university approved English language requirements available here.

For applicants with qualifications completed outside of Ireland

Applicants must meet the required entry academic grade, equivalent to Irish requirements, please find our grades comparison by country here

International/non-EU applicants

For full details of the non-EU application procedure please visit our how to apply pages for international students. In UCC, we use the term programme and course interchangeably to describe what a person has registered to study in UCC and its constituent colleges, schools, and departments.

Not all courses are open to international/non-EU applicants, please check the fact file above.

For more information please contact the International Office.

Fees and Costs

The EU fee for this course is €8,130.

The Non-EU fee for this course is €18,130.

Deposits:

If your course required a deposit, that figure will be deducted from your second semester fee payment in January.

EU student fee payment:

Fees for EU students are payable in two equal instalments. First payment at registration in August and the second in January.

International student fee payment:

Fees for Non-EU Students are payable in one instalment in August.

How can I pay?

By Credit/Debit card online or by credit transfer.

Questions?

If you have any questions on fee payment please email our Fees Office at fees@ucc.ie .

Non-EU Fees

The fee schedule for 2019/2020 is available here.

How Do I Apply

1. Choose Course

Firstly choose your course. Applicants can apply for up to two courses under one application. Details of taught courses are available on our online prospectus.

2. Apply Online

Once you have chosen your course you can apply online at the online application portal. Applicants will need to apply before the course closing date. There is a non-refundable €50 application fee for all courses apart from the Education - Professional Master of Education - (Secondary School/Post-Primary Teacher Training) which has a €100 application fee.

Applicants for the Postgraduate Diploma in Public Health Nursing must apply on the PAC website when the programme opens for applications.

3. Gather Supporting Documents

Scanned copies of the following documents will need to be uploaded to the online application portal in support of your application. Applicants may need to produce the original documents if you are accepted onto a course and register at UCC.

  • Original qualification documents listed on your application including transcripts of results from institutions other than UCC
  • Any supplementary items requested for your course.

Please log into the online application portal for more details.

4. Application processing timeline

Our online application portal opens for applications for most courses in early November of each year. Check specific course details. 

5. Rounds

For courses that are in the rounds system (Irish and EU applicants), please check the rounds closing dates here.

Questions on how to apply?

Please use our web enquiry form to contact us.

The closing date for non-EU applications is Extended until 31 July 2021.

Apply Now

For queries regarding course content or timetables please contact

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