Financial Mathematics and Economics

Bachelor of Science (Financial Mathematics and Economics)

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Course Overview
Key Facts
Course Outline
Further Education
Why Choose This Course?
Course Fees
Find Out More

Study Financial Mathematics and Economics What our lecturers say Studying Financial Mathematics and Economics

Entry Points (2024)

473

Course Overview

The BSc in Financial Mathematics and Economics (BSc in FME) programme is a four-year degree programme consisting of courses in mathematics, economics, statistics/probability, applied mathematics, accounting and business finance, and computer science. The programme’s aim is to equip students with expertise in quantitative subjects, with a particular focus on financial economics, actuarial mathematics and statistics. There is a high demand from financial institutions for well-qualified students with quantitative skills, and in an expanding market, highly numerate professionals are being sought, particularly in the areas of insurance, investment and finance. Typically in such employment, you would be predicting the long-term financial consequences of current and past decisions, taking account of various risk factors, and designing solutions to problems that involve financial risk or uncertainty.

The degree should appeal to people who enjoy mathematics and are interested in studying economics and other subjects in the financial area. (Please note that you do not have to study economics for the Leaving Certificate to be admitted to this course.) This degree has an advantage over other programmes, including specialised actuarial programmes, as it is broad and suits students not yet ready to specialise. The course is administered jointly by the College of Science and Engineering and the College of Business, Public Policy and Law. The entry requirements of either college may be applied, according to whichever is more advantageous to the applicant.

Applications and Selections

Who Teaches this Course

Requirements and Assessment

Key Facts

Entry Requirements

Minimum Grade H5 in two subjects and passes in four other subjects at O6/H7 level in the Leaving Certificate, including Irish, English, Mathematics, a third language or a laboratory science subject (i.e. Chemistry, Physics, Biology, Physics with Chemistry (joint), Computer Science or Agricultural Science) and any two other subjects recognised for entry purposes.

A H5 or O1 in Mathematics is required.

Additional Requirements

This programme is an inter-college programme of the College of Science and Engineering and the College of Arts, Social Sciences and Celtic Studies. The entry requirements of either College may be applied, whichever is the more advantageous to the applicant.

Recognition of Prior Learning (RPL)

Duration

4 years

Next start date

September 2025

A Level Grades (2024)

universityofgalway.ie/alevels

Average intake

QQI/FET FETAC Entry Routes

4 (More Info)

Closing Date

NFQ level

Mode of study

ECTS weighting

Award

CAO

GY309

Course code

Course Outline

YEAR ONE

•Mathematics
• Computer Science
• Economics
• Mathematics of Finance
• Statistical Methods and Probability Models
• Mathematical Methods I
• Financial Accounting

YEAR TWO

• Differential Forms
• Intermediate Macroeconomics
• Random Variables
• Mathematical Methods I
• Intermediate Microeconomics
• Linear Algebra
• Introduction to Financial Economics
• Programming for Science and Finance
• Discrete Mathematics
• Mathematical Methods 11
• Statistical Inference
• Complex Analysis

YEAR THREE

ASSIGNED WORK PLACEMENT OPTION

•Applied Regression Models
• Groups
• Microeconomics and Public Policy
• Actuarial Mathematics - Cash flow models
• Money and Banking
• Metric Spaces
• Economics of Financial Markets
• Macroeconomics and Public Policy
• Non-Linear Systems
• Business Finance 2
• Mathematical Modelling
• Topology

YEAR FOUR

• Actuarial Mathematics - Life Contingencies II
• Numerical Analysis
• Measure Theory
• Final Year Project
• Actuarial Mathematics - Cash flow models
• Derivatives and Risk Management
• Economics electives
• Networks
• Statistical Modelling
• Differential Equations with Financial Derivative

See course outline for GY309 Financial Mathematics and Economic here

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Curriculum Information

Curriculum information relates to the current academic year (in most cases).
Course and module offerings and details may be subject to change.

Glossary of Terms

Credits: You must earn a defined number of credits (aka ECTS) to complete each year of your course. You do this by taking all of its required modules as well as the correct number of optional modules to obtain that year's total number of credits.
Module: An examinable portion of a subject or course, for which you attend lectures and/or tutorials and carry out assignments. E.g. Algebra and Calculus could be modules within the subject Mathematics. Each module has a unique module code eg. MA140.
Subject: Some courses allow you to choose subjects, where related modules are grouped together. Subjects have their own required number of credits, so you must take all that subject's required modules and may also need to obtain the remainder of the subject's total credits by choosing from its available optional modules.
Optional: A module you may choose to study.
Required: A module that you must study if you choose this course (or subject).
Required Core Subject: A subject you must study because it's integral to that course.
Semester: Most courses have 2 semesters (aka terms) per year, so a three-year course will have six semesters in total. For clarity, this page will refer to the first semester of year 2 as 'Semester 3'.

Year 1 (60 Credits)

Year 2 (60 Credits)

Further Education

Honours graduates can pursue higher degrees in a range of related disciplines, including mathematics, actuarial science, financial economics, financial mathematics, applied mathematics, statistics and economics. Graduates have been accepted on to leading postgraduate programmes both in Ireland and in prestigious universities overseas, including the University of Cambridge, Warwick University and the University of California, Berkeley, USA. Graduates can choose to become trainee actuaries and finish the professional exams while working or complete a Masters or Higher Diploma programme in Actuarial Science before starting as a trainee actuary. To become a qualified actuary, you must satisfy the professional education and work experience requirements of the Institute and Faculty of Actuaries (IFoA), based in the UK. The Society of Actuaries in Ireland is responsible for the professional conduct of actuaries in Ireland but is not an examining body.

This programme can provide up to 3 actuarial exam exemptions, namely:
Actuarial Mathematics (CM1), Actuarial Statistics (CS1), Business Economics (CB2).

Actuarial Exemptions - Financial Maths & Economics Actuarial_exemption_information_June_2023

Why Choose This Course?

Career Opportunities

There are excellent employment opportunities for graduates. The demand from employers for well-qualified students with knowledge of how financial markets operate and how to use quantitative techniques to make informed investment decisions is substantial. The employment prospects from this degree programme are excellent, with challenging and financially rewarding opportunities in many different areas. These include:

Financial services – opportunities for graduates exist right across the financial services sector, in investment, corporate and private banking, in currency trading, in credit risk and in management of hedge funds. Some of the world’s leading financial firms have hired our graduates, including Goldman Sachs, JP Morgan, Merrill Lynch and Credit Suisse.

Actuarial profession– graduates can embark on a career as an actuary, working primarily in pensions, life & genernal insurance and investments. Some of our graduates in recent years have gone on to complete postgraduate actuarial studies and other graduates have gone directly to positions as trainee actuaries."

This programme can provide up to 3 actuarial exam exemptions, namely: Actuarial Mathematics (CM1), Actuarial Statistics (CS1), Business Economics (CB2).

Actuarial_exemption_information_June_2023

Other areas – opportunities for our graduates exist in government departments and other public sector bodies, where they play key roles on issues affecting the national economy. In recent years, graduates have been hired by the Department of Finance, the Central Bank of Ireland, the Bank of England and the National Treasury Management Agency (NTMA). Moreover, because of their strong numeracy skills, graduates have also secured employment in a wide variety of different areas, for example, as economists, in accountancy, tax and law, in management consultancy and even as a sports odds compiler.

Who’s Suited to This Course

Learning Outcomes

Transferable Skills Employers Value

Work Placement

Study Abroad

Related Student Organisations

Course Fees

Fees: EU

€7,268 p.a. (€7,408 p.a. including levy) 2025/26

Fees: Tuition

€4,268 p.a. 2025/26

Fees: Student Contribution

€3,000 p.a. 2025/26

Fees: Student levy

€140 p.a. 2025/26

Fees: Non EU

€27,000 p.a. (€27,140 p.a. including levy) 2025/26

EU Fees are comprised of Tuition + Student Contribution Charge + Student Levy* €140. *Payable by all students and is not covered by SUSI. Further detail here.

For 25/26 entrants, where the course duration is greater than 1 year, there is an inflationary increase approved of 3.4% per annum for continuing years fees**.
**Excludes Full-Time EU Undergraduate fees. These are fixed and do not change.

Find out More

Dr. Nina Snigireva
Programme Director
Financial Mathematics and Economics programme
E nina.snigireva@universityofgalway.ie

What Our Students Say

Mark Berry | BSc (Financial Mathematics and Economics)

...In school I always favoured the numerical subjects and had an interest in finance, so this course was great as it offered a mix of mathematical and financial subjects. The broad, multidisciplinary nature of the course supplied me with ideal numerical and analytical skills to pursue a wide range of job opportunities...