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Offered by the Department of Mathematics

The MSc/PG Diploma in Financial Mathematics aims to provide a professional development package for professionals in the discipline of Finance, Insurance, Banks, Financial Analysis, Financial Consultancy and Financial Simulation sectors. The award of the degree will provide its recipients with a valuable professional qualification.


A Bachelor of Science with Pure Mathematics or Applied Mathematics as a subject,

Bachelor of Science in Engineering from a recognized university,

any other equivalent qualification acceptable to the senate of the University of Colombo.

Course Fees

LKR 310,000/-

Application Fee: LKR 3,000/-
Course Fee: 310,000/- (Subject to change)

*The course fee cannot be paid as installments. However, students are eligible for Bank Ceylon Student Loan system. Please contact Bank of Ceylon, Thummulla Branch for more details.

Tentative dates

Call for Applications: Date changed due to the prevailing COVID-19 situation, new date will be informed later.

Program Structure

The MSc program will consist of two parts (Part I and Part II), Part I consists of coursework (25 C) and Part II consists of an independent guided project (5 C). The duration of the entire programme is two years (four semesters). Those who obtain a GPA of not less than 2.5 for part I of the programme will be allowed to proceed to Part II of the programme. Students who fail to obtain a GPA of 2.5 but maintain a GPA of not less than 2.00 in Part I will be eligible for the award of the Postgraduate Diploma in Financial Mathematics. The students who proceed to Part II will be assigned an independent guided project of six months duration. Satisfactory completion of the research project, the other module in Part II of the programme and obtain a GPA 2.5 or above will make these students eligible for the award of MSc in Financial Mathematics. In addition to this, the general guidelines of the Faculty of Science are applicable to the award of the MSc and the Postgraduate Diploma in Financial Mathematics.

PART I: PG Diploma

First Semester

Course Module Name Details
MFM 5021 Applied Finance 30L, 2C
MFM 5022 Stochastic Calculus for Finance 30L, 2C
MFM 5023 Financial Econometrics 30L, 2C
MFM 5024 Financial Derivatives 30L, 2C

Second Semester

Course Module Name Details
MFM 5025 Financial Risk Management 30L, 2C
MFM 5026 Computing for Finance 30L, 2C
MFM 5028 Corporate Finance 30L, 2C
MFM 5036 Case Study on Financial Market 90P, 3C

Third Semester

Course Module Name Details
MFM 5027 Optimization Methods for Finance 30L, 2C
MFM 5029 Factor Analysis 30L, 2C
MFM 5031 Financial Decision Theory 30L, 2C
MFM 5032 Financial Accounting 30L, 2C

PART II: M.Sc. Coursework - Fourth Semester

Course Module Name Details
MFM 5038 Case Study on Financial Modeling & Simulation 150P, 5C
TOTAL CREDITS (M.Sc. Coursework) 30C

Further Information

Further information regarding the MSc Program can be obtained by contacting the program coordinator or Head/Mathematics

Contact details of the program coordinator and Head/Mathematics are as follows.

Name Coordinator Email Phone No Mobile No
Dr. Sanjeewa Perera Head/Mathematics 0112507010 0715352616
Dr. JK Wijerathna Coordinator