Bachelor of Science (Financial Mathematics and Economics)

College of Science / College of Arts

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 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.

Key facts

Entry requirements

Minimum HC3 in two subjects and Passes in four other subjects at H or O 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) or Agricultural Science) and any two other subjects recognised for entry purposes.

A HC3 in Mathematics is required.
For A-levels, a minimum of Grade C in A-Level Mathematics is required

Additional requirements

This programme is an inter-college programme of the College of Science 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.

Duration: 4 years

Next start date: September 2014

Entry points(2013): range 450 - 615

A Level Grades (2013): AAB (A-Level) & b (AS) or equivalent combination

Average intake: 20

Course outline

Year 1

  • Mathematics
  • Computer Science
  • Economics
  • Mathematics of Finance
  • Statistics and Probability
  • Mathematical Methods I
  • Financial Management

Year 2

  • Analysis I
  • Intermediate Macroeconomics
  • Probability
  • Mathematical Methods II
  • Intermediate Microeconomics
  • Algebra
  • Introduction to Financial Economics
  • Algorithms
  • Discrete Mathematics
  • Modelling, Analysis and Simulation
  • Statistical Inference
  • Analysis II

Year 3

  • Applied Statistics
  • Groups I
  • Topics in Microeconomic Theory
  • Annuities and Life Insurance
  • Money and Banking
  • Metric Spaces
  • Economics of Financial Markets
  • Topics in Macroeconomic Theory
  • Actuarial Mathematics I
  • Business Finance
  • Mathematical Modelling
  • Topology

Year 4

  • Financial Theory
  • Actuarial Mathematics II: Life Contingencies
  • Numerical Analysis
  • Measure Theory
  • Final-year Project (over 2 semesters)
  • Non-Linear Systems
  • Derivatives and Risk Management
  • Neural Networks
  • Stochastic Processes
  • International Monetary Economics
  • Differential Equations with Financial Derivatives

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 Faculty of Actuaries (FFA) and Institute of Actuaries (FIA), 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.

Find out more

The College of Science
T 353 91 493 121
F 353 91 494 578
E cian.twomey@nuigalway.ie
http://www.fme.nuigalway.ie/

CAO code

GY309

Fees for this course

EU (Total): €7,492 p.a. 2014/15 (Inclusive of Levy & SCC)
 - Tuition: €4,518 p.a. 2014/15
 - Student contribution: €2,750 p.a. 2014/15
 - Student levy: €224 p.a. 2014/15
Non-EU (Total): €13,750 p.a. 2014/15

EU Fees:
- Tuition: may be paid by the Irish Government on your behalf if you qualify for free tuition fees see - free fee initiative.
- Student Contribution: €2,750 - payable by all students but may by paid by SUSI if you apply and are deemed eligible for a means tested SUSI grant.
- Student Levy:  €224 - payable by all students and is not covered by SUSI.

Current Students

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..."