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Financial Mathematics and Economics
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.
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Requirements and Assessment
Next start date
A Level Grades (2021)
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Mode of study
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.
Why Choose This Course?
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 insurance and investments. About a quarter of our graduates in recent years have gone on to complete postgraduate actuarial studies and some graduates have gone directly to positions as trainee actuaries.
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
Related Student Organisations
Fees: Student Contribution
Fees: Student levy
Fees: Non EU
*EU Fees are comprised of Tuition + Student Contribution Charge + Student Levy
Student Levy: €140 - payable by all students and is not covered by SUSI. Further detail here https://su.nuigalway.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...