ISEG’s Master in Applied Mathematics for Economics and Management (MMAEG) is designed for students who want to make a difference by applying advanced mathematics to economics and management.
The programme combines up-to-date mathematical theory, statistics and optimisation with practical applications in economics, finance and business decision-making, supported by a strong computational component.
Through three Minors – Applied Mathematics, Economics and Management – students shape the degree around one of two goals:
• A professional career: advanced quantitative skills that make graduates stand out in a highly competitive job market;
• An academic career: a solid preparation for doctoral studies, either at ISEG, namely in the PhD in Applied Mathematics for Economics and Management (PDMAEG), or at leading universities abroad.
Meet the coordination team and get your questions answered at our on-campus session on 12 November at 3:30 PM or our online session on 26 November at 4:30 PM (GMT)!
Register nowThe master’s is the natural continuation of ISEG’s BSc in Applied Mathematics for Economics and Management (LMAEG), one of the most sought-after degrees in Portugal
Over three semesters (90 ECTS), students choose a Minor in Applied Mathematics, Economics or Management, tailoring their degree towards doctoral research or towards a quantitative career in the job market.
Advanced mathematics is taught alongside modern computational tools and specialised software, so that students learn to turn theory into solutions for real economic and business problems.
The programme is fully taught in English to a diverse cohort of national and international students, preparing graduates for a global, data-driven environment.
Students complete the programme with a research dissertation, a project, or an internship with companies or research institutions – a direct bridge to a PhD or to the job market.
The programme strengthens students’ knowledge of advanced mathematics, statistical analysis and optimisation applied to economic and business challenges. Graduates will be able to:
Recent graduates in mathematics, applied mathematics, economics, management, engineering or other quantitative fields, as well as working professionals with degrees in these areas who want to strengthen their technical skills to support data-driven economic and managerial decisions.
Graduates of ISEG’s BSc in Applied Mathematics for Economics and Management (LMAEG) enjoy virtually zero unemployment. The master builds on this track record and opens two routes:
Graduates are well prepared to pursue a PhD, either at ISEG, namely the PhD in Applied Mathematics for Economics and Management (PDMAEG), or at universities abroad, and to work in research centres and higher education institutions.
Graduates’ quantitative skills give them an edge in a highly competitive job market, in public and private institutions such as:
| Year 1 – Semester 1 | Credits |
|---|---|
| Statistical Inference | 6 |
| Analysis and Partial Differential Equations | 6 |
| Combinatorial Optimisation | 6 |
| Probability Theory and Stochastic Processes | 6 |
| Minor Elective 1 | 6 |
| Minor Elective 1 (choose one) |
|---|
| Choose your Minor and select one elective course from the options available within that Minor |
| Minor in Applied Mathematics • Differential Equations and Dynamical Systems • Programming Techniques |
| Minor in Economics • Macroeconomics • Microeconomics |
| Minor in Management • Big Data • Financial Markets and Investments |
| Year 1 – Semester 2 | Credits |
|---|---|
| Stochastic Calculus | 6 |
| Computational Mathematics | 6 |
| Minor Elective 2 | 6 |
| Minor Elective 3 | 6 |
| Minor Elective 4 | 6 |
| Minor Elective 2 & 3 (choose two) |
|---|
| Choose your Minor and select two electives courses from the options available within that Minor |
| Minor in Applied Mathematics • Discrete Mathematics and Applications • Generalized Linear Models • Information and Ergodic Theory • Multiobjective and Optimisation Under Uncertainty • Time Series |
| Minor in Economics • Casual inference and Machine Learning • Game Theory • Financial Time Series • Applied Macroeconometrics • Applied Microeconometrics |
| Minor in Management • Multiobjective and Optimisation Under Uncertainty • Foundations of Financial Theory • Machine Learning and Data Mining • Risk Management |
| Minor Elective 4 (choose one) |
|---|
| • Discrete Mathematics and Applications • Generalized Linear Models • Information and Ergodic Theory • Multiobjective and Optimisation Under Uncertainty • Time Series • Casual inference and Machine Learning • Game Theory • Financial Time Series • Applied Macroeconometrics • Applied Microeconometrics • Foundations of Financial Theory • Machine Learning and Data Mining • Risk Management |
| Year 2 – Semester 1 | Credits | |
|---|---|---|
| Master’s Final Work – MFW • Dissertation • Project • Internship | 30 |
Applications for all ISEG master’s programmes are submitted online.
Applicants need a solid background in mathematics and quantitative analysis. This normally means a bachelor’s degree from a Portuguese or foreign institution in Applied Mathematics for Economics and Management (LMAEG), Mathematics, Applied Mathematics, Statistics, Physics, Engineering, or a quantitative field of Economics or Finance. Applicants with strong quantitative backgrounds from other fields will be considered on a case-by-case basis.
In accordance with Article 17(d) of Decree-Law No. 74/2006 of 24 March, as amended and republished by Decree-Law No. 65/2018 of 16 August, other applications deemed appropriate by the scientific and selection committee will be assessed on the basis of a thorough academic and curricular analysis.
Students completing their bachelor’s degree may apply conditionally, provided they finish it by the end of September of the year in which they apply.
Applicants who meet the admission requirements are ranked by a final score, calculated from the following criteria, each graded on a 0–20 scale:
| Criterion | What is assessed | Weight |
| Academic performance | Overall academic performance and grades in quantitative courses. | 60% |
| Overall background | Standing of the awarding institution and/or relevant professional experience or quantitative research background. Alignment with Applied Mathematics, Mathematics, Statistics, Economics or Management. | 20% |
| Motivation letter | Motivation and fit with the programme. | 20% |
All candidates must have an excellent command of written and spoken English.
Provisional tuition fees for 2027/28, subject to confirmation by the statutory bodies of the Universidade de Lisboa:
| Students from | First Year | Second Year | Total |
| Within the European Union | € 4,000 | € 2,000 | € 6,000 |
| Outside the European Union | € 6,000 | € 3,500 | € 9,500 |
Financial constraints should never stand in the way of access to higher education. That is why a specific tuition payment schedule may be agreed at the student’s request.
Students who are not EU, EEA or Swiss citizens need a student visa. Once you have accepted your place and paid the first tuition instalment, you can download your acceptance letter from the FENIX Portal. You will need this letter to apply for the visa at the nearest Portuguese Embassy or Consulate in your country of origin.
