Financial Mathematics
BSc (Hons) (NFQ Level 8)
Course Video
Curricular information is subject to change.
Open AllIf you have a strong interest in Mathematics, enjoy problem solving and are interested in how Mathematics is used in business and finance, Financial Mathematics will give you an understanding of the mathematical theories that underpin financial models, as well as computational expertise in the algorithms used to price financial products. One example of a financial model included in the course is the Black-Scholes option pricing model, dating from 1973, which is one of the earliest equations developed and used to price options. Implementations of financial models, including computer programming, form a key part of the course.
Financial Mathematics is one of the degree subjects available through the Mathematics stream in the common entry Science course.
Students study similar modules for all degree subjects in the Mathematics stream in first year and will study modules for a minimum of two degree subjects in second year. At the end of second year, students choose their degree major. Assuming students meet all the academic requirements in first and second year, students are guaranteed a degree subject from the stream they are studying in second year. We do our best to ensure that students go on to study their top degree subject choice. As we offer plenty of degree subjects in each stream, students have a number of similar degree subjects to choose from as their degree major. This is a sample set of modules that a Financial Mathematics student could study each year in UCD.
First Year
- Scientific Enquiry
- Introduction to Applied & Computational Mathematics
- Calculus in the Mathematical and Physical Sciences
- Applications of Differential Equations
- Linear Algebra in the Mathematical and Physical Sciences
- Statistical Modelling
- Mathematical Analysis
- Numbers & Functions
- Mathematical Analysis
- Microeconomics for Business
- Optional Modules
- Elective Module
Second Year
- Computational Science
- Calculus of Several Variables
- Linear Algebra in the Mathematical Sciences
- Introduction to Probability
- Foundations of Finance
- Modern Regression Analysis
- + modules for 1 other Science Subject
- Elective Modules
Third Year
- Partial Differential Equations in Financial Maths
- Corporate Financial Management
- Fundamentals Actuarial Mathematics
- Metric Spaces
- Models – Stochastic Models
- Advanced Computational Finance
- Financial Maths Foundations
- Option Modules
- Elective Modules
Fourth Year
- Measure Theory & Integration
- Time Series Analysis
- Monte Carlo Inference
- Financial & Actuarial Maths
- Advanced Risk Management
- Probability Theory
- Option Modules
Timetables & Assessment
Each student will have their own timetable based on their individual module selection. This is a full time course and classes may include lectures, practicals and tutorials, depending on the subjects. Students will also be expected to study independently (autonomous student learning). Assessment varies with each module but may comprise continuous assessment of practicals, written exams and online learning activities.
Students may apply to study abroad for a trimester in third year in partner institutions internationally.
Graduates with training in Financial Mathematics work in fields as diverse as:
- Quantitative positions in the financial sector
- Risk modelling in banking and insurance
- Computing in business, technology, research and academia
Graduates can also pursue a range of MSc or PhD programmes such as the MSc in Actuarial Science, MSc in Quantitative Finance, MSc in Statistics or an MSc in Data Analytics.
“When I came to the UCD Open Day and saw the beautiful science building and how friendly everyone was, my mind was made up right away. When I learned about Financial Mathematics, it sounded like the perfect way to continue to study mathematics while also combining it with my interest in financial markets. I was also lucky enough to get to go abroad for my third year to UC Berkeley in California which was an amazing experience. Studying at a different institution gave me another perspective and I think it’s really helped me in my final year. I also completed an internship in the summer between third and fourth year at Credit Suisse and was able to earn credits as part of the professional placement module. After graduating, I went back to work at the same firm full time.”
Joseph Mulligan, Graduate
Dr Adamaria Perrotta
UCD School of Mathematics & Statistics
Belfield, Dublin 4.
Email: askscience@ucd.ie
