MFM On Campus

Financial Mathematics

McMaster University

12 months
30030 CAD/year
15658 CAD/year
Tuition fee
Apply date
Start date


The Financial Mathematics program from McMaster University applies methods of mathematics, statistics, computational science and economics to core problems arising in financial institutions.


Its scope ranges from traditional problems such as securities valuation and portfolio optimization to current issues such as risk management and high frequency trading.

The Master of Financial Mathematics (also called M-Phimac) at McMaster University is an intensive one year graduate program.

Key Features 

  • Eight months of coursework taught by recognized experts emphasize the development of both strong technical foundations and professional knowledge, with the goal to understand the applications of advanced mathematics to finance and investments. 
  • The major industrial project completed in the third term will explore a topic of current interest with guidance from a finance industry professional and can be completed while working full time or as an intern.

Programme Structure

Courses include: 

  • Foundations of Financial Mathematics 
  • Risk and Financial Markets 
  • Computational Finance 
  • Statistics of Financial Data 
  • Portfolio Theory and Optimization 
  • Credit Risk Modeling 

Key information


  • Full-time
    • 12 months

Start dates & application deadlines


30 alternative credits


On Campus

Academic requirements

GRE admission requirements GRE®

Other requirements

General requirements

  • Honours Bachelor’s Degree or equivalent
  • B+ (B- for Engineering) minimum average, based on a full year equivalent of final year courses (3rd/4th level) relevant to the program
  • Each program may set additional/higher requirements. Please review the program website for details.
  • Degrees and grades from foreign universities are evaluated for their equivalency to McMaster’s. Please contact the program for specific details.
  • Departments or programs may establish additional requirements, such as scores on the Graduate Record Examination (GRE)
  • Admission is competitive: meeting the minimum requirements does not guarantee admission
  • The admission decision is not subject to appeal
  • Applicants who do not meet the above mentioned requirements, should consult the Graduate Calendar to determine the requirements for exceptional cases

Tuition Fee

To alway see correct tuition fees
  • International

    30030 CAD/year
    Tuition Fee
    Based on the tuition of 15015 CAD per semester during 12 months.
  • National

    15658 CAD/year
    Tuition Fee
    Based on the tuition of 7829 CAD per semester during 12 months.

Living costs for Hamilton

1163 - 1630 CAD /month
Living costs

The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.


Studyportals Tip: Students can search online for independent or external scholarships that can help fund their studies. Check the scholarships to see whether you are eligible to apply. Many scholarships are either merit-based or needs-based.

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Financial Mathematics
McMaster University


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