Statistics with Financial Mathematics
School of Mathematics and Statistics,
Faculty of Science
Accredited by the Royal Statistical Society
The course trains you to apply the probabilistic, statistical and mathematical techniques that are used in the finance industry.
It is based on our Statistics MSc course, but also includes key financial topics such as the Capital Asset Pricing Model, the Black-Scholes option pricing formula and stochastic processes. You’ll also develop a detailed working knowledge of more general statistical techniques and concepts, including linear and generalised linear modelling, Bayesian statistics, time series and machine learning. You’ll learn how to analyse and draw meaningful conclusions from data, and develop your programming skills using the statistical computing software R.
Around one-third of the course is devoted to your dissertation. This may focus on investigating a data set, or a more theoretical or methodological topic. The aim is to give you skills to include on your CV, such as planning and researching a project, data acquisition, problem specification, analysis and reporting your findings. Dissertation topics are often provided by external clients – for example, pharmaceutical companies or sports modelling organisations. Distance learning students often come with projects designed by their employer.
There are lectures, tutorials, computing sessions and group work. Most statistics lectures are recorded so you can watch them again later.
Distance learning option
This is taught online with support via email and an online forum. Distance learners also come to the University for residential weeks.
You'll need to be in Sheffield for a few days between late May and early June each year for your exams. You're expected to spend around 20 hours each week on your studies if you're doing the two-year version of the course, and around 12 to 15 hours each week if you're doing the three-year version.
Some modules may be continuously assessed through ongoing project work with no examination but most taught modules are assessed by a mixture of examinations and coursework.
The assessment of the dissertation module is based entirely on your submitted dissertation.
- 1 year full-time
- 2-3 years part-time by distance learning
This course is great preparation for roles in the finance sector such as banking, actuarial work, pensions and insurance.
If you get a second-class degree or better, you automatically qualify for the Royal Statistical Society Graduate Statistician award – a stepping stone to full professional membership of the RSS and Chartered Statistician status.
We usually ask for a 2:1 honours degree in mathematics, or equivalent, which must include a significant proportion of modern theorem and proof-based mathematics.
A strong performance in a module based on rigorous mathematical analysis is essential.
Your degree must also include a substantial component in statistics and probability theory.
English language requirements
Overall IELTS score of 6.5 with a minimum of 6.0 in each component, or equivalent.
Fees and funding
The University of Sheffield has scholarships available to support masters students. Students on our MSc Statistics with Financial Mathematics course often have the costs of their degree covered by their employer.
You can apply for postgraduate study using our Postgraduate Online Application Form. It's a quick and easy process.
+44 114 222 3789
The content of our courses is reviewed annually to make sure it's up-to-date and relevant. Individual modules are occasionally updated or withdrawn. This is in response to discoveries through our world-leading research; funding changes; professional accreditation requirements; student or employer feedback; outcomes of reviews; and variations in staff or student numbers. In the event of any change we'll consult and inform students in good time and take reasonable steps to minimise disruption. We are no longer offering unrestricted module choice. If your course included unrestricted modules, your department will provide a list of modules from their own and other subject areas that you can choose from.