Mathematical Finance – Master of Science
Postgraduate study programme which requires a first university degree. For this, the University of Konstanz offers the Bachelor of Science in Mathematical Finance.
Apply now to the Master's program!
You can study this unique, interdisciplinary master's programme exclusively at the University of Konstanz. In the master’s programme in Mathematical Finance you will learn to analyse and solve financial problems with the aid of mathematical methods. One core area is the analysis of risks, e.g. liquidity, non-payment or currency exchange risks and their impact on the valuation of securities and companies. You will also study incentive models for managers, investors and traders and discuss how financial markets can be regulated. Students receive method-based training in the relevant areas of mathematics as well as theory-based and application-oriented training in financial management. Elective courses, interdisciplinary seminars and the master’s thesis enable you to develop your special interest profiles. Moreover, you have the opportunity to complement your studies with an internship or a stay abroad at one of our partner universities in Asia, Europe or North America.
|Degree||Master of Science|
|Programme start||Winter semester & Summer semester|
|Period of study||4 semesters|
|Application period||9.5. - 15.9. | 29.11. - 15.3.|
Why study Mathematical Finance in the University of Konstanz?
- Unique study programme, offered only in Konstanz
- Interdisciplinary content through the cooperation of the Departments of Mathematics and Statistics as well as Economics
- Teaching in small practice groups
- Students enjoy intense supervision in their first semesters
- To start your studies: preparatory course (4 weeks) in mathematics
Prospects and opportunities
Typical work areas include:
- Financial sector, e.g. banks, insurances, financial departments
- Supervisory bodies and state / federal ministries
- Consulting companies
If you prefer to opt for scientific research and teaching you have the option of following up your master’s degree with doctoral studies.
You can find out more about career entry in the interview series #dreamjob - Starting a career. Alumni of the University of Konstanz report on their very personal career entry.
Winter semester & Summer semester
You can find an exemplary structure of the study programme in this table.
Please check the Exam regulations (partly in German) for more information about the programme structure.
Internship and study abroad
Internships help you to gain insights into various professional areas and to build up contacts. Both departments and the staff of the university’s Career Service are here to help you find a suitable placement.
A period of study abroad is always highly recommended. The university promotes study abroad via Erasmus+ and numerous other exchange programmes.
Impressions from students and lecturers
Hear from students and lecturers
In our interview series, students talk about their subject, teachers explain the department's research and tell you what topics they cover in seminars and lectures.
- Former students report - Samantha Färber, Financial Mathematics
- Former students report - Steffen Schaarschmidt, Financial Mathematics
- Three Questions to Phillip, M.Sc. Financial Mathematics
- Three Questions to Jeaninne, M.Sc. Financial Mathematics
- Three Questions to Linus, B.Sc. Financial Mathematics
- Consultation with Prof. Dr. Almuth Scholl, Economical Sciences
- Consultation with Prof. Dr. Guido Schwerdt, Economical Sciences
Get an impression
Discover online lectures and websites with more information about your prospective subject.
What interests and skills should I have?
- Very good knowledge of mathematics and economics.
- Very good English skills
- Great interest in current economic, especially financial issues on the national and international level
Foreign language skills
You have to document your English language skills through one of the following language tests (or equivalent test):
- Cambridge Certificate of Proficiency in English (CPE) or Cambridge Certificate in Advanced English (CAE): Grade C or better; International English Language Testing System (IELTS): band scale 6.0 or better; Test of English as a Foreign Language (TOEFL): 80 points or more (internet-based), 213 points or more (computer-based) or 550 points or more (paper-based); alternatively: evidence of a semester in a study programme taught in English.
- Applicants who completed the Bachelor's Programme in Mathematical Finance at the University of Konstanz do not have to prove their English skills.
- Applicants who earned their bachelor's degree outside of Germany: the results of the GRE-test (Graduate Record Examinations);
German language skills
International applicants: documentation of German language skills, level DSH-1 or TestDaF 3 (in all four areas), or a language test recognised as equivalent. The University of Konstanz does not offer preparatory German language courses or approved German language exams. For this reason, you must submit accredited proof of your German language skills along with your application.
Language(s) of instruction
The courses will be held in German or English in agreement with the lecturers. Consequently, study and exam credits can be acquired in either German or English.
- Above-average degree in economics (particularly mathematical finance), mathematics or natural sciences from an institution of higher education or Berufsakademie.
- Knowledge in mathematics (i.e. analysis, linear algebra, stochastics and numerics, totalling 32 ECTS credits or more) as well as knowledge in economics (i.e. statistics, econometrics or economics, totalling 26 ECTS credits or more);
- English skills proved by one of the following language tests (or equivalent): Cambridge Certificate of Proficiency in English (CPE) or Cambridge Certificate in Advanced English (CAE): Grade C or better; International English Language Testing System (IELTS): band scale 6.0 or better; Test of English as a Foreign Language (TOEFL): 80 points or more (internet-based), 213 points or more (computer-based) or 550 points or more (paper-based); alternatively: evidence of a semester in a study programme taught in English. Applicants who completed the Bachelor's Programme in Mathematical Finance at the University of Konstanz do not have to prove their English skills. Applicants who earned their bachelor's degree outside of Germany: the results of the GRE-test (Graduate Record Examinations);
- International applicants: documentation of German language skills, level DSH-1 or TestDaF 3 (in all four areas), or a language test recognised as equivalent.
For details, please see the admission regulations.
All students enrolled at the University of Konstanz are charged a semester fee each semester, similar to all other German universities. Here you can find the current semester fee and its individual components.
Tuition fees for first degree studies for certain international students
Since winter semester 2017/18, the state of Baden-Württemberg has required some international students to pay tuition fees for their first degree studies. The following students are not required to pay tuition fees: citizens of a country within the European Union (EU) or the European Economic Area (EEA), doctoral students and certain “Bildungsinländer” (e.g. non-EU citizens with a German “Abitur”). More detailed information can be found here.
Each year, the University of Konstanz grants exemptions to a limited number of particularly gifted international degree-seeking students in accordance with the university’s “Begabtenbefreiungssatzung” (statutes governing the exemption of gifted students). More detailed information can be found here.
Tuition fees for second degree studies for all students
All students are required to pay tuition fees for their second degree studies. More detailed information can be found here.
Application and application documents
This study programme has no admission restrictions.
An application is possible during the following period: 9.5. - 15.9. (winter semester) and 29.11. - 15.3. (summer semester). There may be other deadlines if you are applying for admission to a higher semester (for instance, if you are changing subjects or universities). For more information please consult the university website.
To submit your online application you are required to upload the following supporting documents as PDF-files:
- Documentation of your degree from an institution of higher education or Berufsakademie. If you have not received your degree certificate by the end of the application deadline, please attach documentation of all your examination results so far;
- Documentation of your knowledge in mathematics and economics.
- Documentation of adequate English skills
- Application letter in English (1 page) showing your aptitude and motivation for participating in the study programme
- Curriculum vitae
- Letter of recommendation by an academic teacher showing your aptitude and motivation for participating in the study programme
- Results of the GRE-test (if applicable)
- Current certificate of enrolment or proof of exmatriculation (if you have studied at a German university, please indicate your 'Fachsemester’ and ‘Hochschulsemester’).
Important note: Please note the information provided under the tab "Admission requirements".
- If your documents are not available in German or English, you will need to have them translated. Please submit a German or English translation of your documents along with the original versions.
- Documentation of adequate German skills level DSH-1 or TestDaF 3 (or equivalent);
- Applicants from China, India and Vietnam: APS certificate (original) issued by the German Embassy of your home country