Key Info

Bachelor of Science in Financial Mathematics

NFQ Level 8 major Award Honours Bachelor Degree
CAO points history
Course code
4 Years
Subject area
Course Director
Dr Eberhard Mayerhofer
00 353 61 202316
+353 (0)61 233755

Financial Mathematics is a great choice for someone who likes maths and wants to work in the business, financial or banking sectors. Business degrees tend to have very little maths, so most employers are very keen to hire graduates with good quantitative skills as well as a financial background.

Why Study Financial Mathematics at UL?

The aims of the degree are to produce graduates with developed mathematical, statistical and computing skills, and the ability to apply them to the quantitative analysis of industrial, commercial or financial business decisions.

The programme also aims to produce graduates with sufficient mathematical, statistical and computing skills for them to undertake postgraduate work in these or related areas

These aims give rise to the following objectives:

  • To provide an education at a suitable level in the appropriate branches of mathematics, both by exploring and developing standard methods and techniques with due use of mathematical, symbolic and statistical computing packages and by having due regard to the fundamental ideas of proof, rigour and generalisation.
  • To introduce you to state of the art theory and methodologies in the world of pricing of financial products and modelling of markets and the practical implementations of these models.
  • To demonstrate the application of mathematics to problems drawn from industry, commerce and financial services.
  • To provide you, through Cooperative Education placement, with experience of working in a company or department where your own developing skills can be utilised.

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What you will study

Module Electives - what are they?

Electives give you the opportunity to choose modules that you want to study.

Each Semester you will be given a choice of a number of modules and you will be asked to select a certain amount to study. This can range from 1 module to 4 modules, based on the course.

For example, you may be given a list of 4 modules, and will be asked to choose 2 to study for the upcoming semester.

Electives in Financial Mathematics

You will choose to study one of the 2 modules listed below:

If you choose Financial Accounting in term 1, then you will proceed and take Accounting (for Financial Decision Making) in term 2. Similarly, if you take Microeconomics in term 1, you willi take Macroeconomics in term 2.

Whatever the student's choice, there are no consequences for the rest of the programme, in higher years.

You will learn about trading, asset management and risk analysis of complicated financial products while at the same time developing solid mathematical skills. Typical modules include;

  • Calculus
  • Mathematical and Statistical Models of Investments
  • Stochastic Differential Equations for Finance
  • Numerical Computation

While this course is not an Actuarial Programme, graduates can obtain two exemptions from the Institute and Faculty of Actuaries: Actuarial Statistics and Business Economics.

There are many career opportunities in financial trading companies, teaching, investment companies, banks, government financial bodies, actuarial and insurance companies, energy and power companies, agribusinesses etc.

To find out more, email

Year 1 Semester 1   Semester 2 Summer
CE4701 Computer Software 1 CE4702 Computer Software 2  
MS4021 Calculus 1 MS4022 Calculus 2  
MS4101 Mathematics Laboratory MS4122 Further Linear Algebra  
MS4131 Linear Algebra 1 MS4222 Introduction to Probability and Statistics  
  Elective1*   Elective2*  
  Choose 1 of;   Choose 1 of;  
AC4213 Financial Accounting AC4214 Accounting for Financial Decision Making  
EC4111 Microeconomics EC4112 Macroeconomics  
Year 2 Semester 3   Semester 4 Summer
FI4003 Finance MS4014 Intro to Numerical Analysis  
MS4043 Methods of Linear Analysis MS4034 Applied Data Analysis  
MS4035 Probability Models MS4303 Operations Research 1  
MS4403 Ordinary Differential Equations MS4404 Partial Differential Equations  
MS4613 Vector Analysis MS4414 Theoretical Mechanics  
Year 3 Semester 5   Semester 6 Summer
MS4045 Complex Analysis   Cooperative Education  
MS4105 Linear Algebra 2      
MS4214 Statistical Inference      
MS4215 Advanced Data Analysis      
MS4027 Fundamentals of Financial Mathematics      
Year 4 Semester 7   Semester 8 Summer
MS4417 Project 1 MS4418 Project 2  
MS4217 Stochastic Processes MS4028 Stochastic Differential Equations for Finance  
  Three modules from; MS4528 Mathematical and Statistical Models of Investments  
MA4617 Introduction to Fluid Mechanics MS4218 Time Series Analysis  
MS4008 Numerical Methods for Partial Differential Equations   Two Modules from:  
MS4117 Discrete Mathematics 2 MA4128 Advanced Data Modelling  
MS4407 Perturbation Techniques and Asymptotics MS4018 Dynamical Systems  
MS4315 Operations Research 2 MS4327 Optimisation  
MB4017 Geometry MS4328 Mathematical Control Theory  
    MS4408 Mathematical Modelling (MA4617 prerequisite)   

Entry requirements

CAO points history
Minimum grades

Applicants are required to hold at the time of enrolment the established Leaving Certificate (or an approved equivalent) with a minimum of six subjects which must include: Two H5 (Higher Level) grades and Four O6 (Ordinary Level) grades or four H7 (Higher Level) grades. Subjects must include Mathematics, Irish or another language, and English.

Subject requirements

In addition, applicants must hold a minimum grade H3 in Mathematics

Additional considerations

A Special Mathematics Examination will be offered at UL following the Leaving Certificate results for those students who did not achieve the Mathematics requirement.

Mature Students

We welcome applications from mature students. Mature applicants must apply through the Central Applications Office (CAO) by 1 February.

Application information for mature student applicants (PDF)

QQI Entry

Certain QQI Awards are acceptable in fulfilling admission requirements for this programme. Visit the UL Undergraduate Admissions QQI site for a full list of modules.

Non-EU Entry Requirements

How to apply

Where are you applying from? How to Apply
Ireland Irish students must apply to UL via the CAO. More information can be found here. 
The UK  Students who have completed their A-Levels can apply to UL via the CAO. More information can be found on the Academic Registry website. 
The EU EU students can apply to UL via the CAO. More information can be found on the Academic Registry website.
Non-EU country If you are outside of the EU, you can apply for this degree here.

Fees and funding

Student course fees are broken into three components - Student contribution, Student Levy and Tuition Fees.

A number of illustrative examples of fees for this course based on the current fee levels have been set out in the tables below.

An explanation of the components, how to determine status and the criteria involved is provided below the examples as is a list of possible scholarships and funding available.

EU Students with Free fees status in receipt of a SUSI grant

HEA pays Tuition Fees €4,262
SUSI pays Student contribution €3,000
Student pays Student Levy €100

EU Students with Free fees status not in receipt of a grant

HEA pays Tuition Fees €4,262
Student pays Student contribution €3,000
Student pays Student Levy €100

Students with EU fee status not in receipt of a grant

Student pays Tuition Fees €4,262
Student pays Student contribution €3,000
Student pays Student Levy €100

Non-EU Students

Student pays Tuition Fees €20,900
Student pays Student Levy €100

Student course fees are comprised of the following components:

Student Contribution

Annual charge set by the government for all full-time third level students. All students are liable unless they have been approved for a grant by Student Universal Support Ireland (SUSI). Please refer to to determine your eligibility for a grant and for instructions on how to apply. The current student contribution is set at €3000.

Student Levy

All students are liable to pay the Student Levy of €100. Please note the Student Levy is not covered by the SUSI Grant.

Tuition Fees

These are based on Residency, Citizenship, Course requirements.

Review the three groups of criteria to determine your fee status as follows

  1. Residency
    • You must have been living in an EU/EEA member state or Switzerland for at least 3 of the 5 years before starting your course
  2. Citizenship
    • You must be a citizen of an EU/EEA member state or Switzerland or have official refugee status
  3. Course Requirements (all must be met)
    • You must be a first time full-time undergraduate (Exceptions are provided for students who hold a Level 6 or Level 7 qualification and are progressing to a Level 8 course in the same general area of study).
    • You must be undertaking a full-time undergraduate course of at least 2 year’s duration
    • You cannot be undertaking a repeat year of study at the same level unless evidence of exceptional circumstances eg serious illness is provided (in which case this condition may be waived)

Depending on how you meet these criteria your status will be one of the following -

  • Free Fee Status: You satisfy all three categories (1, 2 and 3) and therefore are eligible for the Higher Education Authority’s Free Fees scheme.
  • EU Fee Status: You satisfy both the citizenship and residency criteria but fail to satisfy the course requirements and are liable to EU fees.
  • Non EU Fee Status: You do not meet either the citizenship or residency criteria and are therefore liable to Non EU fees.

More information about fees can be found on the Finance website

These scholarships are available for this course

These scholarships are available for all courses

Your future career

Employability skills from this degree

  • Numeracy and the ability to research, interpret and use business and financial data
  • Advanced numeracy and analysing large quantities of data
  • Logical thinking
  • Teamwork and the ability to work independently
  • Finding patterns and drawing conclusions
  • Approaching problems in an analytical and rigorous way
  • Formulating theories and applying them to solve problems
  • Dealing with abstract concepts
  • Presenting mathematical arguments and conclusions with accuracy and clarity

Further Study Options

Job titles for graduates with this degree

Graduates progressing directly into employment take up a wide variety of roles. The following provides a sample of initial roles listed on the Graduate Outcomes Survey by graduates approximately one year after graduation:

  • Claims Manager
  • Credit Risk Technology
  • Data Analyst
  • Investment Data Analyst
  • Operations Analyst
  • Planning Resource Analyst
  • Redress Assessor
  • Researcher
  • Technical Services Engineer
  • Treasury Assistant

Student profiles

Saoirse O'Neill

Saoirse O'Neill

 My name is Saoirse O’Neill, and I graduated from UL in 2022, having studied Financial Mathematics. During my time at Gort Community School, I always enjoyed studying Maths and once I visited UL for the January 2018 Open Day, I decided that Financial Maths was the course for me.

I really enjoyed my four years at UL, my classmates and lecturers were always ready to help and were all very friendly. The facilities at UL played a major role in my decision to come to UL, as UL have world-class sporting facilities and the library definitely made it easier to study. I also got involved in numerous clubs and societies during my time at UL, the UL Junior Ladies Football team, UL Tag Rugby and UL Women in STEM Society all helped me to get to know people who I might not have had a chance to meet otherwise.

One of the advantages of going to UL is Coop Placement, and in my career now, I can see the importance of having experienced the world of work before starting full time employment.

My Final Year Project was also one of the highlights of my time at UL, as it gave me the opportunity to research a topic that I hadn’t covered in my modules, and I am using skills learned from doing the FYP in my current job. Currently, I am a Data Engineer on the AIB Data & Analytics Graduate Program. 


Paul Mullane

As a secondary school student, I loved maths. It was my favourite subject and something I wanted to learn more about. When it came time to decide what to put on my CAO, it was an easy choice for me to put Financial Mathematics in UL top of my list.

The course introduces students to a broad spectrum of areas mathematical topics, such as statistics, probability, analysis, mechanics, financial mathematics, calculus and linear algebra. I’ve also had modules heavily rooted in computer science and accounting. 

During my third year, I completed an 8 month placement in the Data and Analytics team of Ireland’s largest professional services firm, PwC. There, I got to apply the theory that I had learned in college by working on algorithms to develop synthetic populations. It was great to see how the skills I learned in UL were not only applicable,sss but highly sought-after by employers like PwC.

If you're a hardworking individual with a love for maths, this course is tailor-made for you. UL boasts top-class facilities and offers an incredible learning environment. I couldn’t imagine myself studying anywhere else!


Paul Mullane
Cathal Kennedy

Cathal Kennedy

Growing up I always had a soft spot for Mathematics . This grew in secondary school and in particular my interest spiked in Finance. This course just ticked all the boxes for me and I know now that I made the correct choice.

There is no doubt this course is demanding but if you’re willing to put the work in and you’ll find it is very rewarding. This course introduces you to various areas of Mathematics such as Finance , Statistics , Data Analysis , Computer Software and many more . Doing this course I’ve gained strong problem-solving skills which are extremely handy in any line of work .

One huge benefit of doing Financial Maths in UL is the 8 month co-op experience in 3rd year. I was fortunate enough to do my co-op with the global financial services firm, Northern Trust in Limerick. Throughout this 8 month experience I was able to use the skills which I learned doing this course in the workplace. I’m very grateful to have gotten this opportunity as it will be massively beneficial for me in the future.

If you have a taste for Mathematics this course will definitely be right up your alley. UL’s second to none facilities mean you have all the resources you need to enjoy all this course has to offer. One bit of advice I would give would be to prepare yourself for many long days in the library but trust me it is definitely worth it when you get the results you want . Also, don’t worry, you’ll still be able to enjoy the college life too!