Monte Carlo Methods for Financial Applications 7.5 credits

About the course

Monte Carlo-methods is a collection name for statistical simulation methods. The course aims to give a considerable familiarity for using Monte Carlo methods for the pricing and risk analysis of finansial derivatives. This is achieved through practical use of the methods. Special attention is given to the principles of Monte Carlo-simulation of underlying interest- and price processes, given by stochastic differential equations, different techniques for variance reduction, quasi-Monte Carlo, pricing of European and American options, and calculation of Greeks (sensitivities).

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Spring 2026
- Monte Carlo Methods for Financial Applications
  
  Spring 2026 / Umeå / English / On site
  
  Application opens 15 September 2025
  
  Save education at universityadmissions.se
  
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  Starts
  24 March 2026
  
  Ends
  7 June 2026
  
  Number of credits
  7.5 credits
  
  Type of studies
  On site
  
  Study pace
  50%
  
  Teaching hours
  Daytime
  
  Study location
  Umeå
  
  Language
  English
  
  Application code
  UMU-58124
  
  Eligibility The course requires 90 ECTS including 22,5 ECTS in Calculus of which 7,5 ECTS in Multivariable Calculus and Differential Equations and a basic course in Mathematical Statistics, minimum 6 ECTS. Proficiency in English and Swedish equivalent to the level required for basic eligibility for higher studies.
  
  Selection
  Guaranteed place
  
  Application
  The online application opens 15 September 2025 at 09:00 CET. Application deadline is 15 October 2025.
  
  Application and tuition fees
  As a citizen of a country outside the European Union (EU), the European Economic Area (EEA) or Switzerland, you are required to pay application and tuition fees for studies at Umeå University.
  
  Application fee: SEK 900
  
  Tuition fee, first instalment: SEK 19,038
  
  Total fee: SEK 19,038
  
  Details about tuition, fees and funding

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