M.Sc. On Campus

Mathematical Finance

ISEG - Lisbon School of Economics and Management

24 months
3375 EUR/year
2875 EUR/year
Tuition fee
Apply date
Start date


The Mathematical Finance Programme from the ISEG - Lisbon School of Economics and Management  aims to develop students' mathematical and computational skills, combined with financial modelling, and provides a thorough education in modern mathematical finance. During the fourth semester, students can opt for an internship in a financial company, or can choose to write a thesis or a project.


The  Mathematical Finance Programme from the ISEG - Lisbon School of Economics and Management aims to: 

  • Form quantitative analysts with a strong knowledge of analytical, statistical, and computational tools, which can be applied to financial modeling
  • Contribute to the education of top level practitioners with leadership ability, who are capable of promoting innovation; 
  • Promote innovation and scientific research in Applied Mathematics and support the education of university teachers whose activity of research in the areas of Financial Mathematics are relevant for the University, in collaboration with the business world. 


There is a steady demand for financial mathematicians all over the world. The holder of the MMF degree is prepared for the challenge of the pressing needs of the financial sector, both at the national and international level.The main employers of our Masters students are: 

  • Banks 
  • Investment companies 
  • Consultancy companies 
  • Universities

Employability is a key distinctive factor of the ISEG MMF, with 100% of graduates being placed soon after obtaining their degree, some of them even during their Masters Final Work. Employment includes working for the major financial centres of the world, such as  London, Bristol, Madrid, Frankfurt and  Luxembourg. 


ISEG is internationally recognized for its high standards in teaching and research: the school is accredited by AACSB (Association of Advanced Collegiate Schools of Business) and AMBA, a distinction held by only 5% of business schools in the world.

Programme Structure

Courses include:

  • Mathematical Methods in Finance 
  • Financial Markets and Instruments 
  • Programming Techniques 
  • Probability Theory and Stochastic Processes 
  • Stochastic Calculus 
  • Financial Econometrics 
  • Foundations of Finance Theory 
  • Numerical Methods in Finance

Key information


  • Full-time
    • 24 months

Start dates & application deadlines

More details
  • 1 st Phase 23 November to 28 February
  • 2 nd Phase 1 March to 30 April 
  • 3 rd Phase 1 May to 13 June (Applications by international student (outside Europe) are not recommended during the 3 rd Phase, on account of the time it takes to issue visas)


120 ECTS


On Campus

Academic requirements

We are not aware of any academic requirements for this programme.

Other requirements

General requirements

  • The Masters in Mathematical Finance is designed to further the education in quantitative finance of students who already have a Bachelors degree in Mathematics, Statistics, Physics, Economics, Finance or Management. Strong analytical skills are recommended in order to keep up with the challenging workload. 
  • Throughout the programme, students benefit from  contact with financial institutions, by means of seminars by top level practitioners and through  Internships, which usually result in offers of employment. 
  • Students who wish to pursue Third Cycle studies in this area will be greatly encouraged by the syllabus of our Masters.

Tuition Fee

To alway see correct tuition fees
  • International

    3375 EUR/year
    Tuition Fee
    Based on the tuition of 6750 EUR for the full programme during 24 months.
  • EU/EEA

    2875 EUR/year
    Tuition Fee
    Based on the tuition of 5750 EUR for the full programme during 24 months.
  • EU/EEA : 1st year -  €3750, 2nd year - €2000 
  • International: 1st year - €4250, 2nd year - €2500 

Living costs for Lisbon

630 - 1123 EUR /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.

Fresh content

Updated in the last 6 months

Check the official programme website for potential updates.

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Mathematical Finance
ISEG - Lisbon School of Economics and Management


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