Stochastics and Financial Mathematics: VU University Amsterdam

Course Description

Stochastics examines phenomena in which chance plays a central role, such as the result of a general election, fluctuations in share prices or the interactions of molecules in a living cell. The Master’s programme in Stochastics and Financial Mathematics at VU University Amsterdam trains you in the full depth and breadth of the field. Stochastics is usually subdivided into Statistics, Probability Theory and Stochastic Operations Research whereas Financial Mathematics is an important field for the application of stochastics. Both the theoretically inclined and the more ‘applied’ student can put together a programme to suit their personal interests.

The programme offers a wide variety of courses that cover:

• probability theory
• stochastic processes
• mathematical statistics
• financial mathematics
• stochastic decision-making
• dynamical systems
• biostatistics
• industrial statistics

The programme is run jointly by VU University Amsterdam, University of Amsterdam Utrecht University and Leiden University.

Career prospects

A Master's degree in Stochastics and Financial Mathematics will be a great asset to you in finding employment in the business world, especially with major financial institutions. Employers may be:

• banks
• insurance companies
• actuarial consultancies
• forensic institutes
• statistical or planning agencies
• railway companies
• telecommunications companies.

Many students embark on a career path in which they do not only use their mathematical background, but also benefit from the personal and organizational skills developed in the programme.

Admission requirements

Students with a Dutch preliminary education

You can gain direct admission to the Master's in Stochastics and Financial Mathematics with a Bachelor's degree in Mathematics. You can also be admitted with a Bachelor's degree in another relevant subject, like Econometrics. In such cases, however, the Examination Board may set additional requirements.

Entrants from higher vocational education (hbo)

Holders of a relevant hbo diploma may have to follow a pre-Master's programme before being admitted to the Master's in Stochastics and Financial Mathematics. You should expect to spend at least a year (60 ECTS) on this programme.

Students with an international preliminary education

Students can be admitted to the Master's in Stochastics and Financial Mathematics with a Bachelor's degree in Mathematics. You must have some knowledge of measure and integration theory, probability and statistics. Students with a Bachelor's in a closely related area, such as Statistics or Econometrics, can also be admitted. In all cases, the Examination Board decides on admission. If you are admitted to the programme, your final choice of subjects must be approved by the Examination Board.

Language requirements

Foreign students for whom English is not the first language are required to have adequate results in an English language proficiency test: a TOEFL score of 580 (237 in the TOEFL computer-based test) or an IELTS score of 6.5, or they must obtain one of these qualifications upon applying to VU University Amsterdam. If you have another English qualification, please enclose relevant information and, if possible, a photocopy of the diploma, so that the Examination Board can take these factors into consideration.