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Institute of Mathematics

Financial Mathematics (Bachelor)

Bachelor's degree in Financial Mathematics

Degree: Bachelor of Science
Target duration: 6 Semester
Academic term: Winter semester
Admission: free
Credits: 180 ECTS points
Target group: Students interested in the Mathematics concerning the economic and financial sectors

The bachelor's degree program in Financial Mathematics is offered as an application-oriented degree program of the Faculty of Mathematics and Computer Science and of the Faculty of Economics of the Julius-Maximilians University of Würzburg. The aim of the training is to support the future economists with knowledge in the most important areas of mathematics, computer science and economics:

  • characteristic methods of mathematical reasoning and working
  • Depth knowledge of special methods of Applied Mathematics and Stochastic, which are particularly important for applications in Economics.
  • Understanding of issues for economic order and enterprise policy in a market-based economic system
  • Basic knowledge of computer science

The chances in the labor market for Financial Mathematicians are generally rated as good. According to the Federal Employment Agency, the professional situation has significantly improved in recent years. Financial Mathematics has been applied in almost all economic sectors.

Financial mathematicians can be found in industrial departments, in insurance and banking agencies, in technology developers or directly in universities, research institutes, and ministries. The main tasks of financial mathematicians are

  • in insurance and credit,
  • in the operational IT organization,
  • in research and development,
  • in education and training,
  • in finance and accounting
  • with DV manufacturers,
  • at software companies,
  • at management consultancies and market research institutes,
  • at banks, building societies or professional care institutions.

In the self-employment, they also work as a management consultant or appraiser.


Financial mathematicians are often employed in interdisciplinary teams. More precisely, they are usually professional employees within a group that mainly consists of non-mathematicians. Their main duty is therefore to transfer a given task from the terminology of the applied field into the language of mathematics. This transfer provides mathematical solutions that can be translated back into the technical language of the corresponding applied field.

Typical tasks are

  • analysis of scientific, economic or organizational problems,
  • profitability calculations and optimization of operational processes,
  • formulation of suitable mathematical models,
  • development of new methods as well as adaptation and application of known mathematical techniques,
  • use of computers to solve specific problems,
  • analysis of financial market instruments,
  • management consultancy,
  • analysis of markets (e.g., labor market, goods markets).

For interested students who have started from winter 2017/2018


Studienverlaufsplan (graphisch)

*: Analysis and Linear Algebra consist both of Parts I and II. They must be completed in each case with a written and ungraded text about the first part and an oral and graded exam about both parts.

  • During the first three semesters, with a curriculum that is essentially compulsory, you will become familiar with the basics of mathematics, computer science and economics. In the second part of the study (semester four to six), you can choose lectures and seminars according to your inclinations.
  • During this time, you will also complete your compulsory internship in industry whose duration will be of at least 6-week. The internship will be about business or administration, which address relevant problems as well as they train in the practical application of the knowledge acquired during the study program.
  • Towards the end of your studies, you will prepare your written bachelor thesis under supervision of a lecturer.

Basics and orientation exam

After the second semester, the following topics are considered essentials:  the successful completion of Analysis 1 or Linear Algebra 1 as well as 10 ECTS (i.e. two courses) of the compulsory subject. If these topics cannot be achieved, it is then required the successful completion of at least one of the modules about general overview of Analysis or general overview of Linear Algebra (one of the oral examinations) as well as 15 ECTS (i.e. three courses) of the compulsory economic program. These requirements must be achieve before the end of the third semester. If this cannot be done either, then the bachelor's degree program is definitively considered failed.


If you have earned 180 ECTS credits under the Examination Regulations, you will receive the academic degree of a Bachelor of Science.

Study and Examination Regulations

The examination board is responsible

  • Recognition questions at the beginning of studies for achievements acquired in previous study programs or at another study location,
  • Recognition questions in the current study
  • Gender Equality

To the current cast

Course contents: Overview of the modules

The compulsory mathematics consists of the following six modules:

  • Analysis 1 (8 ECTS, unbenotet)
  • Overview of Analysis (10 ECTS)
  • Linear Algebra 1 (8 ECTS, unbenotet)
  • Overview of Linear Algebra (10 ECTS).
  • Stochastics 1 (10 ECTS)
  • Introduction to Stochastic Financial Mathematics (9 ECTS)

The modules called "Overview" can be achieved with an oral exams about the contents of Analysis 1 and 2 or Linear Algebra 1 and 2. Hence you are supposed to attend both lectures, but only  to participate to the first part of the written exam.

In the compulsory elective mathematics one of the following modules has to be taken:

  • Numerical Mathematics 1 (10 ECTS)
  • Stochastics 2 (10 ECTS)
  • Specialization Analysis (10 ECTS)
  • Ordinary differential equations (10 ECTS)
  • Introduction to Functional Analysis for Financial Mathematics (10 ECTS)

Economics (60 ECTS)

The compulsory economic sector consists of the following seven compulsory modules

  • Introduction to Business Administration (5 ECTS)
  • Introduction to Economics (5 ECTS)
  • Microeconomics 1 (5 ECTS)
  • Macroeconomics 1 (5 ECTS)
  • Procurement, Production and Logistics - Basics (5 ECTS)
  • Main features of the investment and financing (5 ECTS)
  • Economic Foundations of Risk Management (5 ECTS)

Five more courses must be completed with 5 ECTS each in the elective-subject area of business administration. It follows a wide range of possible lectures and available seminars, from which you can choose according to your own interests. The complete list can be found in the module manual.

Computer Science (25 ECTS)

The computer science section consists of the three compulsory modules

  • Fundamentals of Algorithms and Data Structures (10 ECTS)
  • Software Engineering (10 ECTS)
  • Introductory programming internship (5 ECTS, during the lecture-free period)

Key qualifications and final thesis (30 ECTS)

The key qualifications (SQ) are divided into general SQ (5 ECTS) and subject-related SQ (15 ECTS). The latter includes an external traineeship of about 6 weeks.

With the general SQ, you can choose from a huge selection of suitable modules from all faculties. Very popular are language courses. The current list can be found on this page

The subject-related SQs are further subdivided into

  • Compulsory modules (12 ECTS)
    • Preliminary course (2 ECTS)
    • Propaedeuticum (2 ECTS, 1st semester)
    • external internship (8 ECTS)
  • Elective modules (3 ECTS), see the module manual

The approximately six-week internship in a company or in another economic organization should provide the necessary practical experience. The internship should promote the practical mediation of relevant problems and the implementation of acquired knowledge during the study. The internship also includes a further presentation (about 20 minutes) of the internship report (10-20 pages).  Before starting an internship, students must obtain the commitment of a lecturer in mathematics or economics to supervise this internship. The examination activity for this sub-module is then delegated to these lecturers.

A confirmation that the internship is compulsory can be found here. If you require an individual certificate, contact the student advisory service.

The exact procedure (prior registration, specifics of the report, etc.) is individually regulated by the lecturer who supervises the internship. In general bonuses must be achieved before the beginning of the internship.

Ideally, copies of the employment contract and possibly the certificate of employment should be added for documentation purpose to the internship report (for individual consultation with the supervising lecturer).

No explicit registration with the examination office is required before starting the internship, (the supervision and commitment of a lecturer should anyway exist). Once all the above-mentioned services have been provided, the supervising lecturer will inform the examination office of Financial Mathematics. The documentation of the internship is uniquely provided by the respective lecturer. An internship certificate is not required by the examination office.

The Bachelor thesis (BAT, 10 ECTS) is the last major exam of your Bachelor program. The purpose of this written manuscript is to show that you are able to scientifically work on a mathematical or economical problem within a period of ten weeks. No new scientific knowledge is expected from you, only the skills required for a scientific approach.

You should start writing your BAT at least ten weeks before the end of your 8th semester, so that you can still use the full remaining time to complete the work before the beginning of your 9th semester. At the beginning of the 9th semester, your Bachelor degree program is considered failed.

In order to get a topic for your thesis, you can first check the bulletin boards in front of the Mathematics Library: there you can find several suggestions about different areas of mathematics and different supervisors. Eventually, you should personally contact a Lecturer in mathematics according to your mathematical interests (see Overview of the Chairs of the Institute of Mathematics) and define a topic directly with him / her (your own suggestions are possible!).

In addition, it is allowed to choose a topic related to the faculty of economics. The application for a topic must be preventively done through a central allocation system. You can find further information here.

Once you will find a supervisor and a subject for your thesis, please print out this form, fill it out together with your supervisor and give it to Ms Schmid (Mathematik Ost, Zi. 00.016). This will make the topic of your thesis and the date of submission (date of issue of the topic + 10 weeks) official and binding.

Only in well-justified cases (incapacity for examination, with attest!) the processing time can be extended upon application to the examination board and in consultation with the supervisor.

The BAT should be printed twice as well as it should be saved on a electronic storage medium "in a common format and in readable form (quote ASPO, pdf file on a data CD is a viable option). The thesis should be handed in time to the examination office, specifically to Ms. Feineis. There, the adherence to the processing time is documented and your work is passed on to the designated referee.

For students who started their program in the summer of 2017 or earlier

Everything applies as in the current version of the winter semester 2017/2018, except that there is still freedom of choice between the basics of algorithms and data structures (with business information systems) and algorithms and data structures (with computer science).

Subject-specific provisions for the bachelor program of Financial Mathematics (PO 2015)