NUS-SJTU Joint Programme - M.Sc in Quantitative Finance (NUS-SJTU MQF)

Admission Requirements

  1. An applicant must possess or expect to obtain an Honours degree (or a 4-year Bachelor's degree) in a discipline with strong quantitative training such as mathematics, statistics, economic, finance, computer science, engineering, physical sciences, or equivalent degrees with strong mathematical background. Applicants should also complete TOEFL or IELTS, with a minimum score of 85 for TOEFL or 6 for IELTS.
  2. TOEFL/IELTS scores are valid for two (2) years from the test date. Applicants are required to retake if the scores have expired at the point of application.
    • Interested applicants should sit for the required tests early, bearing in mind that there may be specific test dates and the test results may take a few months to reach the university. Our institution/department code is 9087/72 for TOEFL.

Course Fees

  • Non-refundable and payable when submitting application materials.
  • S$50 (online or paper forms)

  • RMB220,000 (August 2018 intake)
  • RMB220,000 (August 2019 intake)

  • This is a mandatory fee levied by NUS for all students enrolled in its programmes.
  • The fee comprises of registration fee, examination fee, computer account fee and class fee (copyright). Fees are normally paid at the beginning of every semester during a student's candidature.
  • For AY2018/19 intake,  See here
  • For AY2019/20 intake,  See here
  • The fees include GST and are subject to change/inflation.
  • For ease of billing and payment, NUS will bill incoming students only once, for a lump sum for two years (minimum candidature), to be paid in full at the beginning of their first semester.
  • As Health and Insurance fees are excluded from the MSF for students enrolled in this programme, students are advised to arrange for their own travel and health insurance before they depart from Shanghai to Singapore if they opt to spend their special term at NUS to complete one listed elective module.
  • In the event that a student needs medical consultation while in Singapore, he/she may do so at the University Health Centre (UHC) or other clinics/hospitals and would be required to pay the full rate upfront for international students. Note that hospital charges for international students can be quite high.
  • Payment of this mandatory fees must be made directly to NUS in SGD via telegraphic transfer or online via credit card (VISA/AMEX). Please note that NUS does not have PAYPAL or China Union Pay facilities. Refer to instructions on the invoice, which will be sent by NUS in due course.

  • For students who need to repeat a module or who wish to read more than 10 modules as prescribed in the programme.
  • RMB22,000 (August 2018)
  • RMB22,000 (August 2019)

  • All fees quoted above include prevailing taxes unless otherwise stated.
  • Fees are subject to change/inflation.
  • Fees paid are not refundable in the event of non-completion of the programme by the candidate.
  • There may be penalties for late or partial fee payment.
  • Students who wish to read more than 10 modules should note that the per module fees are paid to the module host department and may not be refunded if they decide to drop the extra module/s. Application for the extra module/s is also subject to approval by the module host department.

Payment of Fees



  • Tuition fees for this programme is to be paid directly to SJTU. Please refer here for more details.

Candidature Period

  • The candidature for part-time students is from a minimum of two years to a maximum of four years.
  • Full-time programme is currently not available for this joint programme.
  • Teaching will be conducted primarily in the campus of SJTU.
  • Please note that all students will be required to spend at least one special term (duration of six weeks) at NUS to complete one listed module offered in the NUS's regular MQF Program, or complete two listed modules at NUS Suzhou Research Institute.

Application Procedure

  1. Read the detailed application procedure here.
  2. Applications and/or payment received after the closing dates will not be processed for that intake. Incomplete applications will also not be processed.
  3. Applicants who are unable to apply online may request for paper application form via email.
  4. Shortlisted candidates may be required to sit for an interview. They will be informed of the details in due course.
  5. Selection Committee will start the review process from 1 Jan 2019.
  6. First interview is scheduled on 26 and 27 Jan 2019.


  • 15 April (Online application is open from 1 December of the previous year to 15 April for August intake). This joint programme has only one intake (August intake) per year.


Study Plan

For AY2018/19

Year 1

Semester 1
(6 Aug to 8 Dec 2018)


Mathematical Models of Financial Derivatives


Financial Modelling and Computation

Semester 2
(5 Jan to 11 May 2019)


Data Analysis and Machine Learning in Finance


Statistical Models and Methods in Finance

Special Term 1
(13 May to 22 Jun 2019)


Investment and Portfolio Selection

Special Term 2
(24 Jun to 3 Aug 2019)


Financial Time Series: Theory and Computation

Year 2 (tentative)

Semester 1
(5 Aug to 7 Dec 2019)


Risk Management


Advanced Computational and Programming Methods in Finance

Semester 2
(13 Jan to 9 May 2020)


Interest Rate Theory and Credit Risk


Advanced Methods in Risk Management

Special Term 1
(11 May to 20 Jun 2020)


Structured Products


For AY2019/20

Year 1

Semester 1
(5 Aug to 7 Dec 2019)


Mathematical Models of Financial Derivatives

SJTU module (to be advised)

Semester 2
(11 Jan to 9 May 2020)


Risk Management

SJTU module (to be advised)

Special Term 1
(11 May to 20 Jun 2020)


Structured Products

Special Term 2
(22 Jun to 1 Aug 2020)


Interest Rate Theory and Credit Risk

Year 2

Semester 1
(8 Aug to 5 Dec 2020)

To be advised

To be advised

Semester 2
(9 Jan to 8 May 2021)

To be advised

To be advised

Special Term 1
(10 May to 19 Jun 2021)

To be advised



How does this programme differ from the regular M.Sc. in Quantitative Finance programme offered by NUS?

  1. M.Sc. in Quantitative Finance is offered by three strong academic departments in NUS – Department of Mathematics in collaboration with the Department of Statistics & Applied Probability and the Department of Economics, Entire programme will be conducted solely in NUS while NUS-SJTU M.Sc. in Quantitative Finance is offered jointly by NUS and SJTU. Students who applied for the NUS-SJTU MQF must be prepared to fly over to Shanghai, China (at their own expenses) as the entire programme will mostly be conducted in Shanghai Jiaotong University.
  2. Students can choose to do the regular MQF programme either on a fulltime or parttime basis whereas students doing the joint programme can only do it on a parttime basis.
  3. There is a difference in terms of payment structure between the regular MQF and joint MQF programme.

I'm very interested in this programme but I do not have a degree in mathematics or quantitative finance. Am I eligible to apply?

This is up to you to decide. The programme is aimed at providing advanced training in quantitative finance and enrolled students are preferred have strong background in mathematics or quantitative finance so that they may follow the syllabus with ease. 

I do not have an Honours degree (i.e. only a 3-year Bachelor's degree or its equivalent). Am I eligible to apply?

As this is a 40MC programme, applicants are required to possess at least an Honours degree (or a 4-year Bachelor's degree) or at least 3 – 4 years of relevant working experience in financial industries for consideration of admission.

Must I sit for TOEFL and GRE tests?

  1. TOEFL ascertains a candidate's English language proficiency and is necessary if English is not your native tongue the medium of university instruction is not completely in English.
  2. GRE test is not required for applying to this programme. For details on test centres and test dates, check the web sites of TOEFL.

Do you accept copies of test results for TOEFL test?

If you have sat for the test but are worried that the score sheet may not reach us in time, you may email or fax a copy of the test candidate's score sheet to us first. Processing of applications may be delayed if the required documents are not available during the review.

May I be exempted from sitting for TOEFL test since it is not available in my province/country?

You may replace TOEFL with IELTS or an official certification letter from your institution indicating that the medium of teaching/instruction was English, whichever is available.

Can I submit the test result after the application closing date, if there are no test dates available before the closing date?

You are strongly advised to plan ahead for the test so that the result may reach us before the closing date. In the unfortunate event that the test result can only be submitted after application closing date, they must reach us within two weeks of the closing date.

Must I submit referees' reports/letters?

Referees' reports/letters are not required for this programme.

Should I submit all supporting documents?

You are required to submit all documents indicated on your application check-list. 
However, it is not necessary to submit everything in original versions especially if you only have one piece of the original document. However, you may be required to upload copies of these supporting documents at the point of application. Also, do note that you must be able to produce the original version for verification when required.

When will I know the outcome of my application?

You will be notified about two to three months after the closing date. Do note that we do not acknowledge receipt of applications, and are unable to answer queries related to the status of applications and chances of admission.

I have been admitted to the programme but due to unforeseen circumstances, I may not be able to complete matriculation and commence study as planned. Can I defer my admission to the next intake?

You may request for deferment if you have been offered admission or have registered for it. Send us an email to request for a deferment, indicating the new start date. You will be notified of the outcome in due course.

I have problems continuing or completing the programme. Can I drop out from it?

You would need to complete and submit a form for it.

Is there a closing date to apply for deferment, leave of absence or withdrawal?

There are no specific deadlines since we respect that such decisions may arise due to unforeseen circumstances. But you should request/apply at the earliest possible and preferably before the start of a semester to allow time for processing. Note that tuition fees that are paid may not be refunded after the cut-off dates even with valid reasons.

Is there a fulltime option for this programme?

At the moment, there is no full time option available for this joint programme.

Are there any scholarships available for this programme?

There are no scholarships available for this programme.

I can't find answers in the FAQs above.

Check the FAQ page by the Faculty of Science. If you still can't find the answers, drop us an email.

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