Master of Science in Financial Mathematics
MSc(MAFM)
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:
Part-time
Full-time : 1.5 years
Part-time : 2.5 years
HK$250,000
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.
mafm.ust.hk
On successful completion of the program, graduates will be able to:
- Design and evaluate quantitative models for derivatives pricing, portfolio management and trading strategies;
- Formulate appropriate risk monitoring procedures in financial transactions and perform effective scenario simulation using statistical techniques in risk assessment;
- Devise computer systems for analysis of financial data and design numerical methods for calibration of model parameters from market data;
- Make appraisal of dynamics of financial markets and formulate quantitative strategies to seek investment opportunities in fund management; and
- Analyze problems from finance in quantitative terms and develop strategies for effective solution of the problems.
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Minimum Credit Requirement
36 credits
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Required Courses
At least 27 credits
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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.
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Remarks
Part-time students may take a maximum of 9 credits in each term.
Last update: 30 May 2024
To qualify for admission, applicants must meet all of the following requirements. Admission is selective and meeting these minimum requirements does not guarantee admission.
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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.
Applicants have to fulfill English Language requirements with one of the following proficiency attainments:
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TOEFL-iBT: 80 *
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TOEFL-pBT: 550
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TOEFL-Revised paper-delivered test: 60 (total scores for Reading, Listening and Writing sections)
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IELTS (Academic Module): Overall score: 6.5 and All sub-score: 5.5 *
* Refers to scores in one single attempt only. Test at home option is not accepted.
Applicants are not required to present TOEFL or IELTS score if
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their first language is English, or
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they obtained the bachelor's degree (or equivalent) from an institution where the medium of instruction was English.
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A bachelor's degree in Mathematics, Engineering or Physical Sciences
Integrated Bachelor-Master Pathway
- Only for HKUST students in Year 3 or above who are studying a bachelor’s degree in Mathematics, Engineering or Physical Sciences with a CGA of 3.5 or above.
- Successful applicants will receive a conditional offer for admission to MSc(MAFM) and need to pay a deposit at the prevailing deposit rate.
- They will be allowed to start taking MSc(MAFM) courses in their final year of undergraduate study, and will enter the MSc(MAFM) Program upon successful completion of the undergraduate degree.
- Upon entering MSc(MAFM), they can transfer up to 9 credits taken during the undergraduate study to fulfill the MSc(MAFM) program requirements. They will pay tuition fee for the remaining credits on a pro-rata basis, with a minimum payment for 27 credits.
