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MSc in Financial Mathematics
and Statistics (MSFMS)



General Information

Programme Code P68
Mode of Study Combined Mode
Normal Study Period 1 year (full-time)
2 years (part-time / combined mode)
Credit Units Required for Award 30 or 31
Programme Leader Dr Heng LIAN
Deputy Programme Leader Dr Pierre NOLIN
Programme Leaflet Download pdf(2023 Entry)

Programme Details



This programme is offered by the Department of Mathematics of City University of Hong Kong. The programme emphasizes the development of students’ ability to evaluate and develop financial business and statistical models. It also provides students with the theoretical knowledge necessary for complex financial and insurance operations. Furthermore, the programme enhances their mathematical and computational skills in Financial Mathematics and Risk Management.

Graduates should be able to price various modern financial and insurance products and to assess and manage financial and insurance risks. The programme will significantly enhance the competitiveness of its graduates in the job market. It is expected that students majoring in areas like Financial Engineering, Actuarial Science, Mathematics, Statistics, Physics, Engineering, Computing and Information Technology, as well as professionals from both finance and insurance industries will benefit from this master degree programme.

Unique Features

– The programme aims at producing analytical graduates with business awareness as well as solid background in financial engineering and risk management, and to equip students with relevant theoretical knowledge as well as statistical and computational skills in a global business context.

– Students will conduct research projects with faculty members. Through classroom learning and interaction with their supervisors, students will understand the new cutting-edge techniques and develop their interests in research. Such experience will serve as the foundation for students to pursue a PhD degree.

– Graduates will be equipped with mathematical skills, contemporary finance theory and information technology knowledge, and be ready for a professional career in finance/statistical industries.

Department of Mathematics at City University of Hong Kong

The Department specializes in applied and computational mathematics. It possesses a strong team of over 25 full-time academic faculty members who are experts in a wide range of applied topics. They are active researchers with excellent track records. The Department provides ideal learning environment for students and trains them in practical problem solving.

Programme Structure

Students are required to complete a minimum of 30 credit units*:

Course type Credit Units
Cores 15
Electives 15 or 16
Total 30 or 31

* Each course carries 3 credit units, except MA6616 Project (1 credit unit) and MA6617 Dissertation (6 credit units).

Course List 2022/2023

Students are required to take the following cores and select courses from a pool of elective courses listed below.

Core Courses

Course Code Course Title Credit Unit Semester
MA5616 Financial Mathematics in Derivative Markets 3 A
MA5617 Statistical Data Analysis 3 A
MA5618 Stochastic Analysis in Finance 3 A
MA6629 Advanced Stochastic Analysis in Finance 3 B
MA6633 Statistical Modelling for Data Mining 3 B

Elective Courses

Course Code Course Title Credit Unit Semester
MA5601 Applied Partial Differential Equations 3 A
MA6612 Numerical Partial Differential Equations 3 B
MA6616 Project 1 B & S
MA6617 Dissertation 6 A & B & S
MA6622 Statistical Methods and Calibration in Finance and Actuarial Science 3 B
MA6627 Stochastic Interest Rate Models 3 B
MA6628 Programming and Computing in Financial Engineering 3 A
MA6630 Introduction to Statistical Learning 3 B
MA6631 Special Topics 3 -
MA6632 Statistical Analysis of Financial Big Data 3 -
BIOS6900 Time Series Analysis 3 B
EF5042 Corporate Finance 3 A & B
EF5340 Credit Risk Management 3 B
Credit Transfer / Exemption

If applicants have completed equivalent courses at a university level, they may be eligible to apply for credit transfer (at a maximum of 9 credit units) or exemption from some programme requirements upon admission to the University. In such cases, the standard application fee will be charged in accordance with the University’s policy.

Mode of Study

Courses will be delivered during evenings and, probably, also on Saturday afternoons/evenings. Some courses may be taught in intensive mode by visiting experts (i.e. 39 hours to be taught in 7 weeks in Semester A/B or 5 weeks in Summer Term). Since full-time students may also take some courses along with part-time students, they may have to attend classes in the evenings and weekends.

Normative Study Period

– 2-3 semesters (full-time)

– 4-5 semesters (part-time)


September 2022

Entrance Requirements

To be eligible for admission, the applicants must hold a first degree or a postgraduate degree in science and engineering (Mathematics, Physics, Statistics, Computer Science, Engineering, etc.), or in a related discipline (Economics, Finance, and Actuarial Science), or equivalent.


Application fee: HK$300

Tuition fee: HK$6,400 per credit unit (subject to yearly review)

Graduation fee: HK$400

Successful applicants will be required to pay a deposit equivalent to 3 credit units.

Application Deadline (tentative)

31 January 2022

Education Loan

Successful applicants may apply for the Government’s Non-means-tested Loan Scheme. Application forms are obtainable from each District Office and the Student Financial Assistance Agency.

Enquiries: +852 2150-6222




Government’s Continuing Education Fund (CEF)

A number of courses offered by the Department of Economics and Finance (EF), such as EF5042 Corporate Finance and EF5340 Credit Risk Management, have been specified by the Office of the Government’s Continuing Education Fund as “reimbursable courses”. Full details are obtainable at

Department of Mathematics, CityU

Room Y6524, Yeung Kin Man Academic Building City University of Hong Kong, 83 Tat Chee Avenue, Kowloon Tong, Hong Kong

Tel : (852) 3442 8441

Fax : (852) 3442 0250


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