Postgraduate Programs 2022/23
Master of Science Program in Financial Mathematics
Award Title

Master of Science in Financial Mathematics

Program Short Name


Mode of Study

Student may choose to enroll in either face-to-face or real-time online mode.


Face-to-face mode:

Both full- and part-time


Real-time online mode:


Normative Program Duration

Full-time : 1.5 years
Part-time : 2.5 years

Program Fee


Program Advisor

Program Director:
Prof Kani CHEN, Professor of Mathematics

Associate Director:
Prof Lixin WU, Professor of Mathematics

Financial mathematics is an amalgam of mathematics, statistics, finance theory and computer science to bring efficiency and rigor to financial markets and the investment process. The MSc program is continuously enhanced with new courses in machine learning and Blockchain technology, among others, to connect to emerging trends in quantitative finance.

On successful completion of the program, graduates will be able to:

  1. Design and evaluate quantitative models for derivatives pricing, portfolio management and trading strategies;
  2. Formulate appropriate risk monitoring procedures in financial transactions and perform effective scenario simulation using statistical techniques in risk assessment;
  3. Devise computer systems for analysis of financial data and design numerical methods for calibration of model parameters from market data;
  4. Make appraisal of dynamics of financial markets and formulate quantitative strategies to seek investment opportunities in fund management; and
  5. Analyze problems from finance in quantitative terms and develop strategies for effective solution of the problems.
  1. Minimum Credit Requirement

    36 credits 

  2. Required Courses  

    At least 27 credits

MAFS 5010
MAFS 5020
MAFS 5030
MAFS 5040
MAFS 5110
MAFS 5130
MAFS 5140
MAFS 5210
MAFS 5220
MAFS 5240
MAFS 5250
MAFS 5270
MAFS 5280
MAFS 5310
MAFS 5330
MAFS 5340
MAFS 5360
MAFS 6000
MAFS 6001
MAFS 6010
MATH 5311
MATH 5520


  1. Elective Courses

    Up to 9 credits

    The elective courses can be any mathematics courses at 4000-level or above, or any courses outside the department at 5000-level or above, and/or MAFS 6100.

MAFS 6100


  1. Remarks

    Part-time students may take a maximum of 9 credits in each term.


Last update: 18 May 2022

To qualify for admission, applicants must meet all of the following requirements. Admission is selective and meeting these minimum requirements does not guarantee admission.

1. General Admission Requirements of the University
  • Applicants seeking admission to a master's degree program should have obtained a bachelor’s degree from a recognized institution, or an approved equivalent qualification.

2. English Language Admission Requirements

Applicants have to fulfill English Language requirements with one of the following proficiency attainments:

  • TOEFL-iBT: 80*

  • TOEFL-pBT: 550

  • TOEFL-Revised paper-delivered test: 60 (total scores for Reading, Listening and Writing sections)

  • IELTS (Academic Module): Overall score: 6.5 and All sub-score: 5.5

* refers to the total score in one single attempt

Applicants are not required to present TOEFL or IELTS score if

  • their first language is English, or

  • they obtained the bachelor's degree (or equivalent) from an institution where the medium of instruction was English.

3. Program-Specific Admission Requirements
  • A bachelor's degree in Mathematics, Engineering or Physical Sciences

Apply online before the application deadlines.


For face-to-face mode, please apply to Master of Science in Financial Mathematics.
For real-time online mode, please apply to Master of Science in Financial Mathematics (Online).


Application Fee


Application Deadlines

For 2022/23 Fall Term Intake (commencing in Sep 2022):

Non-local Applicants*
Face-to-face mode:
Full-time: 1 Mar 2022
Part-time: 1 Mar 2022

Real-time online mode:
Part-time: 1 Mar 2022

Local Applicants
Face-to-face mode:
Full-time: 1 Apr 2022
Part-time: 1 Apr 2022


Real-time online mode:
Part-time: 1 Apr 2022

 * Applicants are considered as non-local students if they hold (i) student visa/ entry permit; or (ii) visa under the Immigration Arrangements for Non-local Graduates (IANG); or (iii) dependent visa/entry permit who were 18 years old or above when they were issued with such visa/ entry permit by the Director of Immigration. For details on student visa/ entry permit requirements, please click here.

As students of the online mode will attend examinations on campus during the one-week exam period at the end of each regular term, non-local students admitted in real-time online mode are required to apply for the student visas.