Mathematical finance deals with the ways of applied mathematics in financial problems. A person who has knowledge and experience in mathematical finance would be able to use applied mathematical models to arrive at a reasonable value of stocks of a particular company. Thus, it is imperative that mathematical finance has a lot of potential in finance sector. Mathematical finance is considered as an equal to computational finance. The difference between the two is that mathematical finance focuses mainly on mathematical models and theories while computational finance deals with the various applications. Many universities that offer courses in computational finance also offer mathematical finance courses.
MSc in mathematical finance is an intensive course which will develop your analytical skills. Throughout the course of this program, you will be learning different mathematical models and theories which are a direct link to the finance sector. You will develop skills that are necessary to survive in this competitive world.
During the course of this program, you will learn about stochastic calculus and other statistical computing techniques. You will be introduced with the various numerical methods. You will also learn the basics and advanced theories of risk management. Along with these, you will also learn programming languages along with their application in finance sector.
An MSc in mathematical finance will mean that you are highly skilled in fund management and risk management. Depending upon your skill level, you can choose to start your career by searching for jobs in banks, insurance companies, corporate finance departments, etc.
In banks, where the accuracy of a person matters the most, you will be able to carry out the job with ease as you are well trained in mathematics. You will be able to generate graphs and reports with ease.
In corporate finance departments, a person with good risk management skills is desired the most. As a graduate in mathematical finance, you will have plenty of those skills.
In insurance companies, people with good communication skills are required. You will acquire the ability to communicate your ideas easily once you complete MSc in mathematical science.
MSc mathematical science is an important study in finance sector. If you are able to bag this degree, it will open lots of job opportunities for you. But, you should not take this course lightly because some of the subjects included in your syllabi will be difficult to learn and assimilate. So, absolute concentration and open mindedness is required.