ISEG - Lisbon School of Economics and Management, Universidade de Lisboa Master in Mathematical Finance

The Masters Programme aims to develop students' mathematical and computational skills, combined with financial modelling. In studying for our Masters, students are confronted with the most important technical and quantitative topics of finance, both theoretical and applied, ranging from the mathematical background to the latest trends in the financial sector.

You can find complete program information and download brochure here: https://www.iseg.ulisboa.pt/aquila/cursos/mf?locale=en

Curriculum (courses, subject modules)

1st Year

Financial Econometrics

Financial Markets and Investments / Financial Markets and Instruments

Foundations of Financial Theory

Mathematical Methods in Finance

Numerical Methods in Finance

Probability Theory and Stochastic Processes

Programming Techniques

Stochastic Calculus

2nd Year

Interest Rate and Credit Risk Models

Internship 1

Internship 2

Lévy processes and applications

Optimization and Control Theory in Finance

Project 1

Project 2

Stochastic Finance in Continuous Time

Thesis 1

Thesis 2

Admission conditions

Required diploma(s) :

• Bachelor

Tuition & Fees

Between 5750 and 6750 €

Applicants must hold the equivalent of a Bachelors degree in the fields of Applied Mathematics for Economics and Management, Mathematics, Engineering, Physics, Economics, Management or Finance, obtained from either a Portuguese or an international university.

According to subparagraph d) of Article 17 of Decree-Law No. 74/2006, dated 24 th March, other relevant applications may also be considered by the selection committee, upon analysis of the respective CV.

Applicants who are in the Final Year of their Bachelors degree may also apply, on the basis of their predicted average grade. Accepted applicants will be made a conditional offer.

Accepted applicants are ranked according to the final grade of their First Cycle degree, an analysis of their curriculum, and possibly an interview.

Employment opportunities & career impact

Employment opportunities :

There is a steady demand for financial mathematicians all over the world. The holder of the MMF degree is prepared for the challenge of the pressing needs of the financial sector, both at the national and international level.

The main employers of our Masters students are:

• Banks
• Investment companies
• Consultancy companies
• Universities

Employability is a key distinctive factor of the ISEG MMF, with 100% of graduates being placed soon after obtaining their degree, some of them even during their Masters Final Work. Employment includes working for the major financial centres of the world, such as  London, Bristol, Madrid, Frankfurt and  Luxembourg. 

A PhD is also an option for further education.