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.
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.
Your choice: Four years or five
Gain 24 months of paid work experience through Waterloo's co-op program or fast track your degree by choosing the regular system of study.
The Mathematical Finance program allows you to explore your interests in finance and theoretical math simultaneously.
About the Mathematical Finance program
Available as a 
Apply to Mathematics and choose this major at the end of first year
Earn a Bachelor of Mathematics in Mathematical Finance
First Faculty of Mathematics in North America
Offered by the Faculty of Mathematics
Waterloo is an international leader in Mathematics
Mathematical Finance admission requirements
- Apply to Mathematics and choose Mathematical Finance as your major at the end of first year
- An Admission Information Form is required for admission.
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 Mathematical Finance 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 Mathematical Finance courses
ACTSC 372 – Corporate Finance
CS 335 - Computational Methods in Business and Finance
PMATH 451 - Measure and Integration
STAT 443 - Forecasting
Customize your Bachelor of Mathematics degree in Mathematical Finance
You can also add additional areas of interest and expertise by including a minor (or minors) as part of your degree.
Gain relevant work experience through co-op
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
- Software Quality Assurance Co-op
- Analyst - Treasury Credit Systems
- Research Programming Analyst
- Product Manager Assistant
- Portfolio Analyst - GCM - Derivatives
- Audit Co-op Student - Market Risk
- Quantitative Analyst
- Security Developer
Sample co-op employers
- Sybase iAnywhere
- TD Bank Financial Group
- AVIVA - COFCO Life Insurance
- CPP Investment Board
- Scotiabank
- Manulife Financial
- Pitney Bowes
Careers in Mathematical Finance
- Analyst, Investment Banking, BMO Capital Markets
- Associate, Canada Pension Plan Investment Board
- Compliance Analyst, Sun Life Financial
- Customer Service Representative, TD Bank Group
- Derivatives Analyst, Canada Pension Plan Investment Board
- Director, International Strategy & Banks Research, China Construction Bank International
- Finance Operation Analyst, GE Canada
- Investment Analyst, Dancap Global Asset Management
- Treasury Manager, Hong Kong Aviation Capital
Learn more about Mathematical Finance
- Visit the Mathematical Finance website
- Email our Mathematics recruitment co-ordinator, who can answer any questions about Computer Science
