Mathematical Finance (MMF)

Frequently asked questions

• How much does Mathematical Finance (MMF) cost?

  CAD 65,200 / year.

• What English score does it need?

  IELTS 7.0 overall is the score listed for this programme.

• How long is it?

  3 sessions full-time (typical registration sequen…, as listed by the university.

• What are the entry requirements?

  School of Graduate Studies minimum: for master's programs, an appropriate bachelor's degree, or its equivalent, with a final-year average of at least mid-B from a recognized university; for doctoral programs, an appropriate master's degree, or its equivalent, with an average of at least B+, or demonstrated comparable research competence. Some departments admit directly to the doctoral program from a bachelor's degree for highly qualified candidates (minimum average A- required). "Many graduate units have higher minimum requirements than the minimum SGS requirements." Source: https://www.sgs.utoronto.ca/future-students/admission-application-requirements/ || Graduate-unit requirement for this degree, from the SGS Graduate Calendar 2026-27 ("Economics: Mathematical Finance MMF"): • Applicants are admitted under the General Regulations of the School of Graduate Studies. Applicants must also satisfy the graduate unit's additional admission requirements stated below. • Applicants must have an appropriate bachelor's degree in a quantitative, technical discipline with a minimum of a mid-B standing in the final two years. • Applicants who have completed their studies outside of Canada must meet the SGS minimum standards for English proficiency. On the Internet-based Test of English as a Foreign Language (TOEFL) exam: minimum score of 4.5/6.0 overall with 4.5/6.0 in writing and 4.0/6.0 in speaking. • Applicants must also show evidence of strong mathematical ability. Appropriate workplace experience will be considered in lieu of formal education. • Admission to the program is competitive. Those accepted into the program will normally have achieved a standing considerably higher than the minimum mid-B standing or have demonstrated exceptional ability through appropriate workplace experience. • Applicants must satisfy the Admissions Committee of their ability to do rigorous quantitative analysis at an advanced level. The broad background required for this program makes it likely that many strong applicants will not possess all the background requirements. It is expected that applicants will have extra depth in certain areas and need to do additional work in others. Admission may be conditional upon the applicant's satisfactory completion of the required background material. • Applicants must answer three admission-related questions as part of the application; || Minimum admission average published for international applicants: MMF: mid-B || Direct entry option from bachelor's to PhD? MMF: not stated || International credentials: U of T publishes the degree it requires from each country through the SGS international degree equivalencies tool at https://www.sgs.utoronto.ca/future-students/admission-application-requirements/international-credentials-equivalencies/ · English: IELTS 7.0 (no band below 6.5); TOEFL iBT 93 · English test waiver: Normally not required if: your native language is English (first learned and still used daily); you are a Canadian citizen who studied at a Canadian university where the language of instruction is French; you obtained your admitting degree from an institution recognised by U of T where the language of instruction and examination is uniformly English; or you completed your admitting degree in Australia, the Bahamas, Barbados, Botswana, Ghana, Guyana, Hong Kong, Ireland, Jamaica, Kenya, Lesotho, Liberia, Malawi, Malta, Namibia, New Zealand, Nigeria, Papua New Guinea, Sierra Leone, Singapore, South Africa, Swaziland, Tanzania, Trinidad and Tobago, Uganda, the United Kingdom, the United States, Zambia or Zimbabwe. Some applicants from those countries may still be asked for proof. Tests must have been taken within the last 24 months. Source: https://www.sgs.utoronto.ca/future-students/admission-application-requirements/english-language-proficiency-testing/ · GRE/GMAT: MMF: TOEFL (School of Graduate Studies programme page; SGS also states "Some graduate units require a Graduate Records Examination (GRE). Check with your graduate unit.") · Application fee: CDN $130, non-refundable and non-transferable. "A supplementary application fee may be assessed depending upon the program to which you are applying." Source: https://www.sgs.utoronto.ca/future-students/admission-application-requirements/ · Deposit: University of Toronto does not publish a single admission-deposit amount. Its published rule is: "Review your offer letter if it indicates that you need to make a non-refundable admission deposit. You will pay your admission deposit through ACORN... Your Offer Letter has more information about the admission deposit." Refunds are "granted only in exceptional circumstances, such as the denial of a study permit". Source: https://future.utoronto.ca/fees and https://www.registrar.utoronto.ca/fees-payments/understanding-your-fees/

• Is there a scholarship?

  U of T publishes graduate award and funding information through the School of Graduate Studies at. Many research-stream graduate programmes at U of T are funded; funding arrangements are set by the graduate unit, not by SGS, and U of T does not publish a single figure. International doctoral students are charged the DOMESTIC tuition rate (see fee_basis) View scholarship page