{"id":667,"date":"2021-01-12T10:07:09","date_gmt":"2021-01-12T10:07:09","guid":{"rendered":"https:\/\/iseg.gomo.dev\/?post_type=course&#038;p=667"},"modified":"2026-03-27T16:50:34","modified_gmt":"2026-03-27T16:50:34","slug":"math-finance","status":"publish","type":"course","link":"https:\/\/www.iseg.ulisboa.pt\/en\/study\/masters\/math-finance\/","title":{"rendered":"Mathematical Finance"},"content":{"rendered":"<div class=\"wp-block-uagb-tabs uagb-block-22d23e06 uagb-tabs__wrap uagb-tabs__hstyle1-desktop uagb-tabs__vstyle6-tablet uagb-tabs__vstyle6-mobile\" data-tab-active=\"0\"><ul class=\"uagb-tabs__panel uagb-tabs__align-left\" role=\"tablist\"><li class=\"uagb-tab uagb-tabs__active\" role=\"none\"><a href=\"#uagb-tabs__tab0\" class=\"uagb-tabs-list uagb-tabs__icon-position-left\" data-tab=\"0\" role=\"tab\"><div>Overview<\/div><\/a><\/li><li class=\"uagb-tab\" role=\"none\"><a href=\"#uagb-tabs__tab1\" class=\"uagb-tabs-list uagb-tabs__icon-position-left\" data-tab=\"1\" role=\"tab\"><div>Details of the degree<\/div><\/a><\/li><li class=\"uagb-tab\" role=\"none\"><a href=\"#uagb-tabs__tab2\" class=\"uagb-tabs-list uagb-tabs__icon-position-left\" data-tab=\"2\" role=\"tab\"><div>Admissions &amp; Fees<\/div><\/a><\/li><\/ul><div class=\"uagb-tabs__body-wrap\">\n<div class=\"wp-block-uagb-tabs-child uagb-tabs__body-container uagb-inner-tab-0\" aria-labelledby=\"uagb-tabs__tab0\">\n<p class=\"has-huge-font-size\">Mathematics is the language of modern business. This is a master&#039;s degree that provides a solid mathematical background and presents cutting-edge quantitative methods and computational techniques that are essential in the financial industry. <\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>We encourage internationalization and student's exchange. It is possible to obtain a Double Degree through a twin master's program currently offered in partnership with the University of Lorraine, in Nancy (France).<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><img decoding=\"async\" style=\"width: 150px\" src=\"https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2022\/10\/Deloitte.png\" alt=\"\"><\/td><td><strong>Deloitte Merit Award 2025\/2026<br><\/strong>Prize awarded by Deloitte to the best student in the 1st year of the Master's in Mathematical Finance.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n    <div class=\"course-accreditations__group\">\n        <div class=\"course-accreditations__type\">recognition<\/div>\n\n        <div class=\"course-accreditations__grid\">\n            \n                <div class=\"course-accreditations__item\">\n                    <img decoding=\"async\" src=\"https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2025_eduniversal2025-1.png\" loading=\"lazy\" width=\"237\" alt=\"\" class=\"course-accreditations__logo\">\n                    <div class=\"course-accreditations__desc\">Ranked 29th in the Eduniversal Best Masters Ranking in Financial Markets TOP 60 in Western Europe 2025<\/div>\n                <\/div>\n            \n        <\/div>\n    <\/div>\n    <div class=\"course-accreditations__group\">\n        <div class=\"course-accreditations__type\">Partnerships<\/div>\n\n        <div class=\"course-accreditations__grid\">\n            \n                <div class=\"course-accreditations__item\">\n                    <img decoding=\"async\" src=\"https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2021\/01\/ARPM-logo.png\" loading=\"lazy\" width=\"237\" alt=\"\" class=\"course-accreditations__logo\">\n                    <div class=\"course-accreditations__desc\">ARPM \u2013 Advanced Risk and Portfolio Management<\/div>\n                <\/div>\n            \n        <\/div>\n    <\/div>\n    <div class=\"course-accreditations__group\">\n        <div class=\"course-accreditations__type\">Double Degree<\/div>\n\n        <div class=\"course-accreditations__grid\">\n            \n                <div class=\"course-accreditations__item\">\n                    <img decoding=\"async\" src=\"https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2021\/01\/lorraine-universite-e1764258728274.png\" loading=\"lazy\" width=\"237\" alt=\"\" class=\"course-accreditations__logo\">\n                    <div class=\"course-accreditations__desc\">University of Lorraine<\/div>\n                <\/div>\n            \n        <\/div>\n    <\/div>\n\n\n<div class=\"block-reasons\">\n    <div class=\"block-reasons__content has-iseg-dark-grey-background has-iseg-white-color\">\n        <h3>Top 7 reasons to do the Master&#039;s in Mathematical Finance<\/h3>\n        \n        <div class=\"block-reasons__list\" data-columns>\n\n                        <div class=\"block-reasons__item\">\n                <h4 class=\"block-reasons__heading\">01<\/h4>\n                <p class=\"block-reasons__text\">Students receive in-depth training in modern mathematical and computational finance, becoming familiar with the most important theoretical, applied and technical topics in these areas.<\/p>\n            <\/div>\n                        <div class=\"block-reasons__item\">\n                <h4 class=\"block-reasons__heading\">02<\/h4>\n                <p class=\"block-reasons__text\">Students have often been recruited by prominent companies whilst still developing their master&#039;s Final Work.<\/p>\n            <\/div>\n                        <div class=\"block-reasons__item\">\n                <h4 class=\"block-reasons__heading\">03<\/h4>\n                <p class=\"block-reasons__text\">Our students have also been recruited by International Institutions like the European Central Bank, the European Investment Bank or Google.<\/p>\n            <\/div>\n                        <div class=\"block-reasons__item\">\n                <h4 class=\"block-reasons__heading\">04<\/h4>\n                <p class=\"block-reasons__text\">High quality of the academic staff of this Masters, all of whom hold PhDs from prestigious universities.<\/p>\n            <\/div>\n                        <div class=\"block-reasons__item\">\n                <h4 class=\"block-reasons__heading\">05<\/h4>\n                <p class=\"block-reasons__text\">Double Degree: students can obtain a double degree using international agreements, currently with the University of Lorraine, Nancy (France) and with Uniwersytet Ekonomiczny w Poznaniu (Poland).<\/p>\n            <\/div>\n                        <div class=\"block-reasons__item\">\n                <h4 class=\"block-reasons__heading\">06<\/h4>\n                <p class=\"block-reasons__text\">This Masters also prepares students for further doctoral studies and for carrying out innovation and scientific research in universities or companies.<\/p>\n            <\/div>\n                        <div class=\"block-reasons__item\">\n                <h4 class=\"block-reasons__heading\">07<\/h4>\n                <p class=\"block-reasons__text\">A partnership of the Master&#039;s in Mathematical Finance and the Advanced Risk and Portfolio Management Bootcamp \u2013 ARPM, at the University of New York, allows students who participate in the boot camp to obtain not only an ARPM certificate but also a mention in the supplement to their Master&#039;s Diploma.<\/p>\n            <\/div>\n            \n        <\/div>\n        \n    <\/div>\n    <div class=\"block-reasons__image\"><img decoding=\"async\" src=\"https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2021\/01\/ronan-furuta-gddzfv8_7sE-unsplash.jpg\" loading=\"lazy\" sizes=\"(max-width: 479px) 87vw, (max-width: 767px) 92vw, (max-width: 991px) 28vw, 30vw\" srcset=\"https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2021\/01\/ronan-furuta-gddzfv8_7sE-unsplash.jpg 500w, https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2021\/01\/ronan-furuta-gddzfv8_7sE-unsplash.jpg 800w, https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2021\/01\/ronan-furuta-gddzfv8_7sE-unsplash.jpg 1080w, https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2021\/01\/ronan-furuta-gddzfv8_7sE-unsplash.jpg 1340w\" alt=\"\" class=\"image-cover\"><\/div>\n<\/div>\n\n<div class=\"block-course-features\">\n    <div class=\"container\">\n                    <div class=\"course-features__grid\">\n        \n            <div class=\"course-features__item\">\n                                    <div class=\"course-features__image\">\n                        <img decoding=\"async\" src=\"https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2021\/01\/why-iseg.jpg\" loading=\"lazy\" sizes=\"(max-width: 479px) 86vw, (max-width: 767px) 82vw, (max-width: 991px) 41vw, 32vw\" srcset=\"https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2021\/01\/why-iseg.jpg 500w, https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2021\/01\/why-iseg.jpg 800w, https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2021\/01\/why-iseg.jpg 1080w, https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2021\/01\/why-iseg.jpg 1340w\" alt=\"\" class=\"image-cover\">\n                    <\/div>\n                                <div class=\"course-features__content\">\n                    <div class=\"course-features__topcut\"><\/div>\n                    <h4 class=\"course-features__heading\">\n                                                    <a href=\"https:\/\/www.iseg.ulisboa.pt\/en\/study\/why-iseg-2\/\">10 things you&#039;ll gain by joining ISEG<\/a>\n                                            <\/h4>\n                    <div class=\"course-features__text\">An outstanding faculty and benchmark research centers are responsible for placing ISEG at the forefront of Economics, Management and Finance.<\/div>\n                                            <a href=\"https:\/\/www.iseg.ulisboa.pt\/en\/study\/why-iseg-2\/\"  class=\"link-learnmore\">Top 10 Reasons<\/a>\n                                    <\/div>\n            <\/div>\n\n        \n            <div class=\"course-features__item\">\n                                    <div class=\"course-features__image\">\n                        <img decoding=\"async\" src=\"https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2021\/01\/careers-office.jpg\" loading=\"lazy\" sizes=\"(max-width: 479px) 86vw, (max-width: 767px) 82vw, (max-width: 991px) 41vw, 32vw\" srcset=\"https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2021\/01\/careers-office.jpg 500w, https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2021\/01\/careers-office.jpg 800w, https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2021\/01\/careers-office.jpg 1080w, https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2021\/01\/careers-office.jpg 1340w\" alt=\"\" class=\"image-cover\">\n                    <\/div>\n                   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Our consultants guarantee you all the necessary support, helping you prepare for your job search or find an internship.<\/div>\n                                            <a href=\"https:\/\/aquila.iseg.ulisboa.pt\/aquila\/investigacao\/CMX?locale=en\"  class=\"link-learnmore\">Career Office<\/a>\n                                    <\/div>\n            <\/div>\n\n        \n            <div class=\"course-features__item\">\n                                    <div class=\"course-features__image\">\n                        <img decoding=\"async\" src=\"https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2021\/01\/study-abroad.jpg\" loading=\"lazy\" sizes=\"(max-width: 479px) 86vw, (max-width: 767px) 82vw, (max-width: 991px) 41vw, 32vw\" srcset=\"https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2021\/01\/study-abroad.jpg 500w, https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2021\/01\/study-abroad.jpg 800w, https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2021\/01\/study-abroad.jpg 1080w, https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2021\/01\/study-abroad.jpg 1340w\" alt=\"\" class=\"image-cover\">\n                    <\/div>\n                                <div class=\"course-features__content\">\n                    <div class=\"course-features__topcut\"><\/div>\n                    <h4 class=\"course-features__heading\">\n                                                    <a href=\"https:\/\/aquila.iseg.ulisboa.pt\/aquila\/unidade\/erasmus?locale=en\">Broaden your horizons.<\/a>\n                                            <\/h4>\n                    <div class=\"course-features__text\">Our mobility programs allow students to explore any part of the world while studying abroad for a semester.<\/div>\n                                            <a href=\"https:\/\/aquila.iseg.ulisboa.pt\/aquila\/unidade\/erasmus?locale=en\"  class=\"link-learnmore\">International Mobility Office<\/a>\n                                    <\/div>\n            <\/div>\n\n                <\/div>\n        <\/div>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\">If you want to know more about ISEG's Masters in Mathematical Finance, let us help you:<\/h2>\n\n\n\n<div id=\"formconnector_target\"><\/div>\n            \n<script type=\"text\/javascript\">\n    window.FormConnector_settings = {\n        uuid: '55e971e0321911ef86bbb18b5565a436',\n    };\n<\/script>\n\n<script type=\"text\/javascript\"\n        src=\"https:\/\/formconnector.com\/form\/formconnector.js\">\n<\/script>\n\n\n<div class=\"block-course-testimonials\">\n    <div class=\"container\">\n        <div data-delay=\"4000\" data-animation=\"slide\" class=\"course-testimonials__slider w-slider\" data-autoplay=\"false\" data-easing=\"ease\" data-hide-arrows=\"false\" data-disable-swipe=\"false\" data-autoplay-limit=\"0\" data-nav-spacing=\"3\" data-duration=\"500\" data-infinite=\"true\">\n            <div class=\"course-testimonials__mask w-slider-mask\">\n                                <div class=\"course-testimonials__slide w-slide\">\n                    <div class=\"course-testimonials__slide-content\"><img decoding=\"async\" src=\"https:\/\/www.iseg.ulisboa.pt\/wp-content\/themes\/iseg\/assets\/images\/icon-quote.svg\" loading=\"lazy\" alt=\"\" class=\"course-testimonials__quote-icon\">\n                        <div><strong>The Master's in Mathematical Finance at ISEG is a unique and challenging program that blends core mathematical principles with computational finance, equipping students to excel in both academic and professional settings! <\/strong> As a STEM program, it provided me with the best logical frameworks and analytical tools to tackle complex problems, enabling me to handle incomplete information while designing and implementing new approaches. This Master offered me the extraordinary opportunity of obtaining a Double degree diploma at both ISEG and PUEB - Pozna\u0144 University of Economics and Business in Poland. It was an experience that allowed me to interact with different cultures, make friends from all over the world, and gain a new perspective on the financial markets industry. I was also lucky to have professors at both universities who were not only highly skilled in this field but very supportive.\r\nThis program was key in helping me land a job at the European Central Bank working in the team in charge of the euro money market data and of the euro-short-term rate (\u20acSTR).\r\nLooking back, I'm truly thankful for choosing the Master's in Mathematical Finance at ISEG.<\/div>\n                        <div class=\"course-testimonials__author\">\n                            <div>Jo\u00e3o Ferreira<\/div><img decoding=\"async\" src=\"https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/JoaoFerreira_MathematicalFinance.png\" class=\"course-testimonials__author-photo\" alt=\"\" srcset=\"https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/JoaoFerreira_MathematicalFinance.png 800w, https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/JoaoFerreira_MathematicalFinance-300x300.png 300w, https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/JoaoFerreira_MathematicalFinance-150x150.png 150w, https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/JoaoFerreira_MathematicalFinance-12x12.png 12w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>                        <\/div>\n                    <\/div>\n                <\/div>\n                            <\/div>\n                    <\/div>\n    <\/div>\n<\/div>\n\n\n<div class=\"block-additional-info\">\n    <div class=\"container\">\n        <h4>Additional Info<\/h4>\n        \n        <div class=\"additional-info__grid\">\n                            <div class=\"additional-info__item\">\n                    <a href=\"https:\/\/www.iseg.ulisboa.pt\/en\/study\/student-services\/\">Student Services<\/a>\n                <\/div>\n                            <div class=\"additional-info__item\">\n                    <a href=\"https:\/\/www.iseg.ulisboa.pt\/en\/secretaria\/candidaturas\/candidaturas-a-mestrados\/\">Masters &amp; PhD Office<\/a>\n                <\/div>\n                            <div class=\"additional-info__item\">\n                    <a href=\"https:\/\/www.iseg.ulisboa.pt\/en\/live-iseg\/living-in-lisbon\/\">Living in Lisbon<\/a>\n                <\/div>\n                            <div class=\"additional-info__item\">\n                    <a href=\"https:\/\/www.iseg.ulisboa.pt\/en\/international\/\">International Mobility Office<\/a>\n                <\/div>\n                            <div class=\"additional-info__item\">\n                    <a href=\"https:\/\/www.iseg.ulisboa.pt\/en\/international\/mobilidade-incoming\/\">International<\/a>\n                <\/div>\n                            <div class=\"additional-info__item\">\n                    <a href=\"https:\/\/www.iseg.ulisboa.pt\/en\/careers\/\">Careers Services<\/a>\n                <\/div>\n                    <\/div>\n\n            <\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-tabs-child uagb-tabs__body-container uagb-inner-tab-1\" aria-labelledby=\"uagb-tabs__tab1\">\n<h3 class=\"wp-block-heading\">Details of the degree<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\">  Syllabus <\/h4>\n\n\n\n<figure class=\"wp-block-table block-table-studyplan has-iseg-pink-thead\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\">Year 1 \u2013 Semester 1<\/th><th class=\"has-text-align-center\" data-align=\"center\">Credits<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">Financial Markets and Investments<\/td><td class=\"has-text-align-center\" data-align=\"center\">6<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Mathematical Methods in Finance<\/td><td class=\"has-text-align-center\" data-align=\"center\">6<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Programming Techniques<\/td><td class=\"has-text-align-center\" data-align=\"center\">6<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Probability Theory and Stochastic Processes<\/td><td class=\"has-text-align-center\" data-align=\"center\">6<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Elective I<\/td><td class=\"has-text-align-center\" data-align=\"center\">6<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-table block-table-studyplan has-iseg-red-thead\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\">Year 1 \u2013 Semester 2<\/th><th class=\"has-text-align-center\" data-align=\"center\">Credits<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">Stochastic Calculus<\/td><td class=\"has-text-align-center\" data-align=\"center\">6<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Financial Econometrics<\/td><td class=\"has-text-align-center\" data-align=\"center\">6<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Optimization and Control Theory in Finance<\/td><td class=\"has-text-align-center\" data-align=\"center\">6<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Numerical Methods in Finance<\/td><td class=\"has-text-align-center\" data-align=\"center\">6<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Elective II<\/td><td class=\"has-text-align-center\" data-align=\"center\">6<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-table block-table-studyplan has-iseg-yellow-thead\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\">Year 2 \u2013 Semester 1<\/th><th class=\"has-text-align-center\" data-align=\"center\">Credits<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">Interest Rate and Credit Risk Models<\/td><td class=\"has-text-align-center\" data-align=\"center\">6<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">L\u00e9vy Processes and Applications in Finance<\/td><td class=\"has-text-align-center\" data-align=\"center\">6<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Stochastic Finance in Continuous Time<\/td><td class=\"has-text-align-center\" data-align=\"center\">6<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">MSc Final Work 1 (Thesis\/Internship\/Project) <\/td><td class=\"has-text-align-center\" data-align=\"center\">12<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-table block-table-studyplan has-iseg-blue-thead\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\">Year 2 \u2013 Semester 2<\/th><th class=\"has-text-align-center\" data-align=\"center\">Credits<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">Master&#039;s Final Work 2 <br>\u2014 Thesis<br>\u2014 Project <br>\u2014 Internship<\/td><td class=\"has-text-align-center\" data-align=\"center\">30<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>See the description of each Curricular Units&nbsp;<a href=\"https:\/\/fenix.iseg.ulisboa.pt\/degrees\/mf\/course-web-pages\">here<\/a>.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-tabs-child uagb-tabs__body-container uagb-inner-tab-2\" aria-labelledby=\"uagb-tabs__tab2\">\n<h3 class=\"wp-block-heading\">Admissions &amp; Fees<\/h3>\n\n\n\n<p class=\"has-large-font-size\">Applications for all masters at ISEG are online.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Admission Requirements<\/strong><\/h4>\n\n\n\n<p>Candidates for the Master in Mathematical Finance are:<\/p>\n\n\n\n<ul>\n<li>Undergraduates in national or foreign institutions in Mathematics Applied to Economics and Management, Mathematics, Statistics, Physics, Engineering, Economics, Finance, Management, Accounting, or other relevant subject to this Master. Applications from candidates with different degrees will be assessed on a case-by-case basis.<\/li>\n<\/ul>\n\n\n\n<ul>\n<li>In accordance with Article 17 d) of Decree-Law No. 74\/2006 of the 24<sup>'<\/sup> of March, altered and republished as Decree-Law No. 65\/2018 of the 16<sup>'<\/sup> August, other applications considered to be appropriate by the selection panel will be evaluated on the basis of a curricular analysis.<\/li>\n<\/ul>\n\n\n\n<ul>\n<li>Those students who have not yet completed the 1<sup>st<\/sup> Study Cycle (Bachelors) are eligible to apply conditionally, provided that they satisfy the conditions for obtaining the degree by the end of September (of the same academic year as their application).<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Application Documents<\/strong><\/h4>\n\n\n\n<ul>\n<li>Certificate of the undergraduate degree<\/li>\n\n\n\n<li>Academic Transcript<\/li>\n\n\n\n<li>Curriculum vitae<\/li>\n\n\n\n<li>Motivation Letter<\/li>\n\n\n\n<li>English Diploma (optional)<\/li>\n\n\n\n<li>Reference Letter (optional)<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p>All candidates should have an excellent command of the English language, written and spoken.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Tuition Fee<\/strong><\/h4>\n\n\n\n<p>These are provisional tuition fees for 2026\/27, subject to confirmation by the University of Lisbon statutory bodies.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Students from<\/strong><\/td><td class=\"has-text-align-right\" data-align=\"right\"><strong>First Year<\/strong><\/td><td class=\"has-text-align-right\" data-align=\"right\"><strong>second year<\/strong><\/td><td class=\"has-text-align-right\" data-align=\"right\"><strong>Total<\/strong><\/td><\/tr><tr><td>Within the European Union<\/td><td class=\"has-text-align-right\" data-align=\"right\">\u20ac 3,750<\/td><td class=\"has-text-align-right\" data-align=\"right\">\u20ac 2,000 &nbsp;<\/td><td class=\"has-text-align-right\" data-align=\"right\"><strong><strong>\u20ac 5,750<\/strong><\/strong><\/td><\/tr><tr><td>Outside the European Union &nbsp;<\/td><td class=\"has-text-align-right\" data-align=\"right\">&nbsp; \u20ac 5,250<\/td><td class=\"has-text-align-right\" data-align=\"right\">\u20ac 3,500&nbsp;<\/td><td class=\"has-text-align-right\" data-align=\"right\"><strong><strong>\u20ac 8,750<\/strong><\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Financial restrictions should never come in the way of your access to higher education, and that is why we believe in providing equal opportunities for everyone.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>A specific tuition fee payment schedule may be agreed upon request by the student.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Student Visa<\/strong><\/h3>\n\n\n\n<p>If you are not an EU, EEA, or Swiss citizen, you need a Student VISA.<br>Once you have decided to join the master&#039;s program and paid the 1<sup>st<\/sup> tuition fee to secure your place, you can issue the acceptance letter on the FENIX Portal. This document will be needed later to apply for a Student Visa. The student visa must be requested at the nearest Portuguese Embassy or Consular Office in the country of origin.<\/p>\n<\/div>\n<\/div><\/div>","protected":false},"featured_media":28135,"menu_order":50,"template":"","course_department":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mathematical Finance - ISEG<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.iseg.ulisboa.pt\/en\/study\/masters\/math-finance\/\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.iseg.ulisboa.pt\/en\/study\/masters\/math-finance\/\",\"url\":\"https:\/\/www.iseg.ulisboa.pt\/en\/study\/masters\/math-finance\/\",\"name\":\"Mathematical Finance - ISEG\",\"isPartOf\":{\"@id\":\"https:\/\/www.iseg.ulisboa.pt\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.iseg.ulisboa.pt\/en\/study\/masters\/math-finance\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.iseg.ulisboa.pt\/en\/study\/masters\/math-finance\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2022\/09\/DCP2860-4.jpg\",\"datePublished\":\"2021-01-12T10:07:09+00:00\",\"dateModified\":\"2026-03-27T16:50:34+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.iseg.ulisboa.pt\/en\/study\/masters\/math-finance\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.iseg.ulisboa.pt\/en\/study\/masters\/math-finance\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.iseg.ulisboa.pt\/en\/study\/masters\/math-finance\/#primaryimage\",\"url\":\"https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2022\/09\/DCP2860-4.jpg\",\"contentUrl\":\"https:\/\/www.iseg.ulisboa.pt\/wp-content\/uploads\/2022\/09\/DCP2860-4.jpg\",\"width\":6016,\"height\":4016},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.iseg.ulisboa.pt\/en\/study\/masters\/math-finance\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.iseg.ulisboa.pt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Mathematical Finance\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.iseg.ulisboa.pt\/en\/#website\",\"url\":\"https:\/\/www.iseg.ulisboa.pt\/en\/\",\"name\":\"ISEG\",\"description\":\"Lisbon School of Economics &amp; 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