Mathematical Finance

Study equations that include dollar signs.

In one of the most advanced undergraduate finance programs in the world, you’ll focus on the math behind financial markets.

Offered jointly by the Department of Pure Mathematics and the Department of Statistics and Actuarial Science, Mathematical Finance is designed for students with elite mathematical abilities who wish to pursue finance combined with pure mathematics.

Our challenging curriculum includes courses on corporate finance, mathematical finance, asset-liability management, statistics, and forecasting.

This is a degree that can launch your high-flying career in banking and finance.


Mathematical Finance admission requirements

  • Apply to Mathematics and choose Mathematical Finance as your major at the end of first year.

Complete the Admission Information Form once you've applied.

 

We strongly encourage you to participate in the Canadian Senior Mathematics Contest and/or the Euclid Mathematics Contest to enhance your admissions status.

To be considered for entrance scholarships in the Faculty of Mathematics, you must write one or both of the contests. If you complete both contests, we'll use the results of the contest in which you performed best.



First-year courses

You may select advanced-stream courses for algebra, calculus, and computer science if you meet the requirements. 

September to December

MATH 135 - Algebra
MATH 147 - Calculus 1 (Advanced level)
Choose one of:
CS 115 - Introduction to Computer Science
CS 135 - Designing Functional Programs
1 communication skills course
1 elective

January to April

MATH 136 - Linear Algebra 1
MATH 148 - Calculus 2 (Advanced Level)
Choose one of:
CS 116 - Introduction to Computer Science 2
CS 136 - Algorithm Design and Data Abstraction
2 electives

 

Note: You're encouraged to take 3 courses from AFM 101, AFM 102, AFM 131, ECON 101, and ECON 102 using your first-year electives to satisfy the degree requirements for Mathematical Finance.

After first year

You'll take a mix of actuarial science courses and pure math courses, with additional courses in business, economics, and accounting. With your remaining classes, you can choose electives from many of the 100 subject areas at Waterloo.

View a list of courses required for your degree.

Sample upper-year courses

ACTSC 372 – Corporate Finance
CS 335 - Computational Methods in Business and Finance
PMATH 451 - Measure and Integration
STAT 443 - Forecasting

 

Students talking on bench

The Mathematical Finance program allows you to explore your interests in finance and theoretical math simultaneously.


briefcaseAvailable as a co-op and regular program

Arrow pointing up and clickingApply to Mathematics and choose this major at the end of first year

Graduation capEarn a Bachelor of Mathematics in Mathematical Finance

 

Co-op = relevant paid work experience

By alternating school terms and paid co-op work terms throughout your degree, you can explore new career areas and types of employers as your career interests evolve.

Sample co-op job titles

  • Product manager assistant
  • Security developer
  • Quality assurance technician
  • Risk analyst
  • Trading products quantitative analyst
  • Business application developer
  • Data governance analyst
  • Trading products quantitative analyst

Sample co-op employers

  • AVIVA - COFCO Life Insurance
  • CPP Investment Board
  • Scotiabank
  • Manulife Financial
  • Pitney Bowes
  • Bank of Montreal
  • OMERS
  • Pacific Services Canada Limited
 

#1First faculty of mathematics in North America

math tieOffered by the Faculty of Mathematics

globeWaterloo is an international leader in Mathematics

 

Customize your Mathematical Finance degree

You can add additional areas of expertise to your degree by including one or more of the minors available to all Waterloo students.


What can you do with a degree in Mathematical Finance?

Waterloo Mathematical Finance graduates often pursue careers in investment banking, financial analysis, and more. They typically work in financial institutions, investment companies, and more.

Recent graduates

  • Investment Analyst – Manulife Financial
  • Data Scientist – EMAGIN Clean Technologies 
  • Risk Analyst – TD Bank Group
  • Associate Director, Counterparty Credit Risk – RBC Capital Markets
  • Quantitative Investment Associate – Putnam Investments 
  • Quantitative Portfolio Manager – Lombard Odier
  • Risk Modelling Analyst – TD Bank Group

Your choice: Four years or five

Gain 24 months of paid work experience through Waterloo's five-year co-op program or fast track your degree by choosing the regular system of study and graduate in four years.

Social and academic support

Whether you’re looking for a study group or a night out with your classmates enjoying chicken wings, the Math Finance Student Association has you covered.

 

Learn more about Mathematical Finance