Mathematical Finance

Master of Science (MSc)

  1. Thesis-based

    Academic background: Bachelor's degree in mathematical finance or an undergraduate degree in a field related to mathematical finance, such as stochastic processes, probability, statistics, mathematics, economics or finance.

    Course load: One seminar course and five courses at graduate level which must include two courses from List A, one from List B and one from List C.

    Thesis or project: A thesis has to be written and defended orally in front of an exam committee.

    Completion time: On average, two years. The maximum time allowed is four years.

    Is part-time available: Yes. The maximum time allowed is six years.

    Course performance level: Should maintain a minimum cumulative GPA of 3.00 (calculated on a four-point scale) at the end of each registration year and attain at least a B- on each course taken for credit.

    Funding: Funded for up to two years or sponsored.

  2. Course-based

    Academic background: A bachelor's degree in mathematical finance or an undergraduate degree in a field related to mathematical finance, such as stochastic processes, probability, statistics, mathematics, economics or finance.

    Course load: One seminar course and eight courses which must include two courses from List A, two from List B and two from List C (or 2 from List A, three from List B and one from List C (if the courses from List C do not run annually))

    Thesis or project: A final project with a corresponding written report has to be submitted to and passed by the supervisor.

    Completion time: 1-2 years. The maximum time allowed is four years.

    Is part-time available: Yes. The maximum time allowed is six years.

    Course performance level: Should maintain a minimum cumulative GPA of 3.00 (calculated on a four-point scale) at the end of each registration year and attain at least a B- on each course taken for credit.

    Funding: Unfunded.

  • Alexandru Badescu: Mathematical finance, actuarial science
  • Jinniao Qiu: Mathematical finance, analysis, PDE, operation research
  • Deniz Sezer: Mathematical finance, operation research, modelling of wind and solar energy
  • Anatoliy Swishchuk: Mathematical finance, energy market modelling, stochastic calculus, random evolutions, stochastic processes
  • Antony Ware: Computational finance, energy markets modelling, numerical methods
  1. List A courses

    ACSC 515 Models for Financial Economics 
    MATH 681 Stochastic Calculus for Finance 
    MATH 683 Computational Finance

  2. List B courses

    STAT 507 Introduction to Stochastic Processes 
    MATH 605 Differential Equations III 
    MATH 601 Measure and Integration 
    STAT 701 Theory of Probability I 
    STAT 721 Theory of Estimation

  3. List C courses

    MATH 6XX Introduction to Levy Processes with Applications in Finance
    MATH 6XX Monte Carlo Methods in Finance-Existing Course 
    MATH 6XX Stochastic Optimal Control & Applications in Finance
    MATH 6XX Energy, Commodity and Environmental Finance
    MATH 6XX Credit Risk-Existing Course
    MATH6XX Advanced Topics in Mathematical Finance

  4. Haskayne courses

    FNCE 745 Futures and Options 
    FNCE 767 Financial Risk Management 
    FNCE 789.6 Seminar in Financial Management (FinTech) 
    FNCE 799.05 Theory of Corporate Finance 
    FNCE 799.06 Asset Pricing 
    FNCE 799.07 Topics in Asset Pricing and Corporate Finance

A master’s thesis-based student must complete a thesis on a topic to be agreed to by the student and their supervisor.

  • After completion of the thesis, the student must pass a thesis oral examination
  • A master's thesis oral exam committee contains a supervisor, a co-supervisor (if applicable), an examiner (an additional member of the University of Calgary academic staff), and an internal examiner (a member of the University of Calgary academic staff)
  • The exam must be scheduled at least four weeks prior to date of oral exam
  • Examiners must have a copy of the thesis at least three weeks prior to the date of oral exam
  • Final thesis oral examinations are open

More information can be found on the Faculty of Graduate Studies websites under examinations.