Mathematical Finance

ISEG - Lisbon School of Economics and Management

M.Sc. On Campus
18 months
4500 EUR/year
3833 EUR/year
Tuition fee
Apply date
Start date


Applications open for enrollments until 31 July 2020. The Mathematical Finance Programme from the ISEG - Lisbon School of Economics and Management aims to develop students' mathematical and computational skills, combined with financial modeling. In studying for our Masters, students are confronted with the most important technical and quantitative topics of finance, both theoretical and applied.



ISEG Lisbon is taking all measures with health and safety of our community as a top priority. Since March we're operating 100% online, engaging virtually and using online tools for learning and evaluation. ISEG Lisbon is fully commited to ensure safety of our candidates for next intake, and we're preparing everything to welcome you all in September.

The Masters in Mathematical Finance from the ISEG - Lisbon School of Economics and Management (ULisboa) 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.  A PhD is also an option for further education.    


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
    • 18 months

Start dates & application deadlines

More details
 Applications for 2021/2022 are now open.

    To submit it go to link




120 ECTS


On Campus

Academic requirements

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

English requirements

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

Other requirements

General requirements

  • Applicants must hold the equivalent of a Bachelors degree in the fields of Applied Mathematics for Economics and Management, Mathematics, Engineering, Physics, Economics, Management or Finance, obtained from either a Portuguese or an international university. 
  • Applicants who are in the Final Year of their Bachelors degree may also apply, on the basis of their predicted average grade. Accepted applicants will be made a conditional offer. 
  • Accepted applicants are ranked according to the final grade of their First Cycle degree, an analysis of their curriculum, and possibly an interview.

Tuition Fee

  • International

    4500 EUR/year
    Tuition Fee
    Based on the original amount of 6750 EUR for the full programme and a duration of 18 months.
  • EU/EEA

    3833 EUR/year
    Tuition Fee
    Based on the original amount of 5750 EUR for the full programme and a duration of 18 months.
  • EU/EEA : 1st year -  €3750, 2nd year - €2000 
  • International: 1st year - €4250, 2nd year - €2500 


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.

Due for update

Updated over a year ago

Check the official programme website for potential updates.

Mathematical Finance
ISEG - Lisbon School of Economics and Management


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