M.Sc. On Campus

Financial Mathematics

The University of Edinburgh

12 months
Tuition fee
Apply date
Start date


This Financial Mathematics programme is run by Heriot-Watt University jointly with The University of Edinburgh. Upon graduation, you will receive a degree certificate bearing crests of both universities.


The Financial Mathematics programme from The University of Edinburgh provides you with expertise in financial mathematics, including stochastic calculus, and a range of practical techniques for analysing financial markets. You will also learn quantitative skills for developing and managing risk that are in high demand.

This programme involves two taught semesters of compulsory and optional courses, followed by a dissertation project.

The teaching is shared between Heriot-Watt University (HW) and The University of Edinburgh (UoE). The timetable is arranged so that you spend three days a week at the Heriot-Watt Riccarton Campus and two days a week at University of Edinburgh’s King’s Buildings Campus.

The dissertation project is either carried out with an industrial partner (e.g. Aberdeen Asset Management, Moody’s Analytics and Lloyds Banking Group) or supervised by academics at Heriot-Watt University. 

Work placements/internships

Adding depth to your learning, our work placement programme puts you at the heart of organisations such as Aberdeen Asset Management, Moody’s Analytics and Lloyds Banking Group.

Career opportunities

Graduates typically work in major financial institutions or continue their studies by joining PhD programmes.

Programme Structure

Courses include:

  • Credit Risk Modelling (HW)
  • Derivatives Markets (HW)
  • Derivative Pricing and Financial Modelling (HW)
  • Discrete-Time Finance (UoE)
  • Financial Markets (HW)
  • Special Topics 1 (UoE)
  • Special Topics 2 (HW)
  • Stochastic Analysis in Finance (UoE)

Key information


  • Full-time
    • 12 months

Start dates & application deadlines

More details



180 alternative credits


On Campus

Academic requirements

GPA admission requirements GPA
Upper Second Class

Other requirements

General requirements

  • Entry requires a UK 2.1 degree or equivalent in Mathematics, Financial Mathematics, Actuarial Science or Statistics. Applicants are required to have completed courses on probability, statistics, analysis/calculus and ordinary differential equations. Knowledge of partial differential equations, time series and multivariate statistics is desirable.
  • MSc Financial Mathematics is not suitable for graduates in Financial Engineering, Finance, Accounting or non-STEM subjects.
  • We are looking to train those who not only have a strong background in mathematics, but who also possess the ability to communicate effectively, and have the desire to succeed in a dynamic and competitive industry.

Tuition Fee

Living costs for Edinburgh

725 - 1167 GBP /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.

Our partners

Financial Mathematics
The University of Edinburgh


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