Master in Mathematics – Financial Mathematics
University of Luxembourg
Information last verified July 2026
Program Overview
Devoted to excellence, this track provides students with a wide range of the latest tools and techniques used in the financial industry. Special emphasis lies on modern stochastic methods, as used in financial modelling, derivatives pricing, hedging, risk management, stochastic optimisation and control, and data analysis. Internships with potential employers complete the offer. The courses are given in person. Part-time students share the same courses during the day as full-time students (no week-end and late courses are offered). How to find an answer to your questions? Some eligibility criteria (diploma recognition, language certificates, etc.): more information in How to apply: Step by step. For specific administrative questions, please contact SEVE. Admission criteria are described on Admissions. For recognition of prior experience. Information about student life and cost of living. Master in Mathematics – General Mathematics Master in Mathematics – Mathematical Modelling and Computational Sciences Department of Mathematics
Key Program Features
- Luxembourg is known for being a major financial hub in Europe
- hosting a significant number of international banks
- investment funds
- and insurance companies. The Financial Mathematics curricula are designed by renowned professors
- in cooperation with representatives from industry and financial institutions. The teaching team is committed to the highest pedagogical quality. Students in the MMATH-FM track are given freedom to follow their interests thanks to many optional courses in financial mat
Career Opportunities
Study and career opportunities Mathematicians are appreciated for their analytical skills. Pursuing a degree in financial mathematics opens a range of career opportunities, especially in a financial hub like Luxembourg. Here are some potential careers you could consider: quantitative analyst, risk manager, financial engineer, actuary and data scientist. If you wish to pursue an academic career, you can apply for a doctoral programme at the University of Luxembourg. Mathematical Careers Booklet More info Study programme brochure Mathematical Careers Day The University organises each year a day dedicated to mathematical careers: https://mathcareers.uni.lu/ Study perspectives Graduates can continue their studies with a PhD in Mathematics at the University of Luxembourg Doctoral Programme in Mathematics and Applications Job perspectives Here are some examples of alumni careers who graduated from the Master in Mathematics – Financial Mathematics : • Senior analyst, Booking.com• Modelling engineer, Sparc Industries• Manager, Deloitte• Business analyst, Orange• Research Engineer, ArcelorMittal• Quantitative financial risk analyst, Banque Centrale du Luxembourg• Quantitative risk officer, The World Bank Discover more Financing possibilities Discover your future home Any questions? Contact us Share thisshare share email
Program Curriculum
Programme The Financial Mathematics track of the Master in Mathematics is a two-year programme taught in English. To boost their future career, the track includes internships and allows students to write their Master thesis in a professional setting during an internship. New students are requested to take the Refresher Courses scheduled before the start of the first semester. Admissions Academic Contents Semester 1 Semester 1 Semester 2 Semester 3 Semester 4 Course offer for Financial Mathematics, Semestre 1 (2026-2027 Winter) Discrete-time stochastic processes ECTS credits: 6 Course code: F1_MA_MAT_FM-1 Course title: Discrete-time stochastic processes Number of ECTS: 6 Course code: F1_MA_MAT_FM-1 Module(s): Financial Mathematics 1 (30 ECTS) Language: EN Mandatory: Yes Introduction to basic concepts of modern probability theory On successful completion of the course, the student should be able to:Understand and use concepts of modern probability theory (e.g., filtrations, martingales, stopping times)Apply the notion of martingale to model random evolutionsKnow and apply classical martingale convergence theoremsDescribe and manipulate basic properties of Brownian motion Radon-Nikodym Theorem, conditional expectations, martingales, stopping times, optional stopping theorems, Doob’s inequalities, martingale convergence theorems, martingale central limit theorem, Brownian motion. Exam modalities for the first session Combined Assessment (40% Homeworks, 60% Written In-person Final Exam).Exam modalities for the retake examCombined Assessment (40% Homeworks, 60% Written In-person Final Exam).Absence PlanIn the case of justified absence in the final exam a replacement exam during the same semester will be offered. Rick Durrett: Probability Theory and ExamplesYuval Peres, Peter Morters: Brownian Motion Functional Analysis ECTS credits: 6 Course code: F1_MA_MAT_MMCS2-2 Course title: Functional Analysis Number of ECTS: 6 Course code: F1_MA_MAT_MMCS2-2 Module(s): Financial Math
Admission Requirements
Admissions To apply for a programme at the University of Luxembourg, candidates must comply with the general eligibility criteria for the chosen programme type and be selected by the study programme based on the quality of their application. The programme at a glance – 120 ECTS Duration: 2 years / 4 sem Teaching languages: EN Admissions: EU: 1 Feb 2026 – 15 Jul 2026 Non-EU: 1 Feb 2026 – 24 Mar 2026 Fees: 400€/ sem. (semester 1,2,3,4) Format: Full-time programme (Part-time student status allowed) Dates coming soon Specific information for this programme Requirements Diverse academic backgrounds will be considered, as long as a strong mathematical background is demonstrated, such as:• Bachelor in Mathematics (at least 180 ECTS) or similar,• Bachelor of Science in Engineering or Natural Sciences (at least 180 ECTS) with strong mathematics component demonstrated by a substantial choice of modules and very good performance. Questions can be addressed to mmath@uni.lu. English: B2 Language certificates currently accepted Applicants must prepare the following documents before proceeding with their online application to the Master in Mathematics: A cover letter in English detailing their interest in the courses and their study objectives A detailed CV A copy of their Bachelor’s diploma and relevant grades or similar document for another equivalent diploma A photo A copy of their identification documents/passport Selection procedure & criteria Applicants are considered individually by the Admissions’ Board of the Master in Mathematics. They are selected based on academic merit, on their application file and, in particular cases, on an interview. Applications / Re-registrations must include the four Master in Mathematics semesters. Admissions for the second or third semester onwards are only accepted in exceptional cases when the classes taken abroad are comparable to those taught during the first and second semesters at the University of Luxembourg. Scholarships A scholarship
Tuition & Financial Information
Tuition Fee
400€/semester
About University of Luxembourg
University of Luxembourg
Esch-sur-Alzette, Luxembourg
The University of Luxembourg is a public research university in Esch-sur-Alzette and Luxembourg City, Luxembourg. It was founded in 2003 and is the only public university in Luxembourg.
University Profile- Application Deadline EU: 1 Feb 2026 – 15 Jul 2026 Non-EU: 1 Feb 2026 – 24 Mar 2026 Fees: 400€/ sem. (semester 1,2,3,4) Fo
- Start Date September
- Language English
- Duration 2 years
- Credits 120
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