Swansea University

College of Science

MRes Stochastic Processes


Singleton Park

Wales, England

United Kingdom

Program Information

Degrees Offered:


Format: Campus

Program Description:

There is a wide spectrum of research, in eight main research areas. The pure mathematics subject area at Swansea was rated 5 in the 2001 Research Assessment Exercise and the Department will expand considerably in the coming years. In the past decade the job market for mathematicians has undergone something of a revolution. Mathematicians have always been in demand, as teachers, accountants, actuaries, scientists and engineers. However, there are now highly lucrative jobs for mathematicians in the financial markets – the City, Wall Street, Frankfurt and Tokyo. The reason for this revolution was the award in 1997 of the Nobel Prize for Economics to Scholes for his work in obtaining the Black-Scholes formula. This award recognises the primacy of advanced probability theory in pricing financial derivative products. The MSc course in Mathematics and Computing for Finance has been designed to meet the growing demand for specifically trained academics to work in the world’s financial markets. The mathematics part of the course covers such topics as stochastic calculus based on Brownian motion, Lévy processes, more general jump processes, the advanced Black-Scholes theory and parabolic partial differential equations. The computing training aims to give the students expertise in advanced IT skills such as Java programming, Mathematica and Internet systems. The students will be required to undertake a project on mathematics or computing and its applications in the above areas, so developing their communication and presentational skills. Our degree schemes are supported by our research links. Mathematics and Computer Science are grade 5 departments. We co-operate with other leading centres in the theory of mathematics for finance, for example Imperial College London, and MaPhySto in Denmark and we have very good contacts with world experts in the field.



International Student Requirements:

Equivalent Overseas qualifications may be considered.

Facts & Figures

Financial Aid: Yes

International Financial Aid: Yes

Out State Tuition (per year): 13700 GBP

Find Schools