GarchingFrankfurt School · Frankfurt am Main
Germany
Master of Finance
€44,000 total · 2027 · all nationalities €44,000 total · 2027 · for you (all nationalities)
72% business and management · 8% maths and foundations
Next date
Mathematical Finance and Actuarial Science
- Free electives 32%
- Maths and foundations 29%
- Thesis 15%
- Data and computing 8%
Our classification by 25 module titles, weighted by credits.
A 4-semester master's programme, taught in English, in Garching.
Price€6,800/ semester · 2027/28 · non-EU €6,800/ semester · 2027/28 · non-EU For you · non-EU
Next dateNext start
LanguageEnglishRequires Ielts academic 6.5
Duration4 semesters
What you will study
25 modules published
What are all the subjects?
All 25 modules
Free electives
9Maths and foundations
7Data and computing
3Business and management
2Thesis
1Internship
1Projects and labs
1Research methods
1The institution lists these modules without a year. Source: tum.de, checked 30 Oct 2026
The degree in facts
LevelMaster · EQF 7, ISCED 7
QualificationMaster of Science · Abbr: M.Sc.
Credits120 ECTS
Study modeFull time
Delivery?Not found on official pages
CampusGarching
How it differs
Against similar programmes
Where this programme leans, compared with the same level and field.
What is there more of here?
More maths and foundations than 6 of 6 similar
Share of credits by theme. Right: modules counted. Our classification by module titles.
This programmeMathematical Finance and Actuarial Science TUM
TUM25
- Specialist subjects
- Maths and foundations
- Data and computing
- Business and management
- Society, ethics and law
- Research methods
- Projects and labs
- Internship
- Thesis
- Free electives
Is this a typical programme?
More maths and foundations, less business and management
Share here against the average of 6 similar programmes. Our classification by module titles.
More here than typical
Maths and foundations
Thesis
Internship
Less here than typical
Business and management
Society, ethics and law
Data and computing
Specialist subjects
About the same as typical: research methods, projects and labs.
Where you'll study
Studying in Garching
What is the campus like?
City sizeUnder 100,000 people · our calculation from Wikidata: about 17,729 in 2025
HousingHelp finding a room, no rooms of its own
RankingQS World University Rankings 2027: #1, national
FacilitiesSports fields, Library
FoodCanteen
SupportCounselling, Career service, Disability support, Health service, Student clubs, Student unionInferred, Transport
The rest of what we hold on TUM is on its page.
What it costs
At least €13,794 for the first year
What does the first year cost?
≥ €13,794 first year · 2027/28 · non-EU · our sum
Tuition 2027/28 · 2 semesters€13,600
Semester contribution · 2 semesters€194
?Not published: application fee, visa fee, insurance and living costs
Add your own figures Not published. Only you see these, nothing is saved.
Every fee as the institution publishes it (2)
| Fee | Who pays it | Year | Amount |
|---|---|---|---|
| Semester contribution | All applicants | 2026 | €97 / semester |
| Tuition | Non-EU/EEA citizens | 2027/28 | €6,800 / semester |
Scholarships
- TUM scholarship for international students€500–€1,800 / semester · Non-EU/EEA citizens
What changes the price?
1 thing that move it
−€1,800
TUM scholarship for international students
Is that expensive?
A typical price
Among 5 similar programmes, in euros / semester
This programme €6,800
Costs more than 2 of 4 similar programmes. Half of them cost between €2,057 and €6,800.
Same level, field and language. Years differ; euros are approximate (ECB).
All 5, cheapest first
| Finance (VŠB – Technická univerzita Ostrava) | 2026/27 | ≈ €2,057 |
| Mineral Economics (VŠB – Technická univerzita Ostrava) | 2026/27 | ≈ €2,057 |
| This programme | 2027/28 | ≈ €6,800 |
| Finance and Information Management (FIM) (Technische Universität München) | 2027/28 | ≈ €6,800 |
| Risk and Safety (Technische Universität München) | 2027/28 | ≈ €6,800 |
How to start
Next: 12 Apr 2027
Dates that differ by citizenship are marked for your group.
When does it happen?
Next upProgramme starts
ThenProgramme starts
Every date (2 dates)
Apr 2027
- Programme starts
Oct 2027
- Programme starts
Is my language good enough?
English requirement6.5 IELTS overall6 tests accepted
All 7 accepted proofs
| Language: English · Alternative: No · Deadline note: proof by end of application period · Proof required: Yes |
| Cambridge cae · Scope: TUM-wide minimum for programmes taught in this language · Grades: A; B; C · Language: English |
| Cambridge cpe · Scope: TUM-wide minimum for programmes taught in this language · Grades: A; B; C · Language: English |
| Ielts academic 6.5 · Scope: TUM-wide minimum for programmes taught in this language · Language: English |
| Prior studies in english · Scope: TUM-wide minimum for programmes taught in this language · Language: English · Min share percent: 50 |
| Pte academic 65 · Scope: TUM-wide minimum for programmes taught in this language · Language: English |
| Toefl ibt 88 · Scope: TUM-wide minimum for programmes taught in this language · Language: English |
What are the steps?
- 1Check you qualifyExample: Bachelor · Qualification: Recognized undergraduate degree
- 2Prove your languageLanguage: English · Alternative: No · Deadline note: proof by end of application period · Proof required: Yes
+6 more
- Cambridge cae · Scope: TUM-wide minimum for programmes taught in this language · Grades: A; B; C · Language: English
- Cambridge cpe · Scope: TUM-wide minimum for programmes taught in this language · Grades: A; B; C · Language: English
- Ielts academic 6.5 · Scope: TUM-wide minimum for programmes taught in this language · Language: English
- Prior studies in english · Scope: TUM-wide minimum for programmes taught in this language · Language: English · Min share percent: 50
- Pte academic 65 · Scope: TUM-wide minimum for programmes taught in this language · Language: English
- Toefl ibt 88 · Scope: TUM-wide minimum for programmes taught in this language · Language: English
- 3Admission tests·Unknown
- 4How they chooseAptitude Assessment for Master · Stages: 2 · Criterion: Aptitude assessment
- 5Where you applyKind: Direct online · Portal: TUMonline · Preliminary review: uni-assist VPD for degrees obtained outside Germany
- 6Documents·Unknown
- 7Deadline·Unknown
- 8StartDate: 12 Apr 2027 · Kind: Lecture start · Term: Summer semester · 2026/27 · Semester start: 1 Apr 2027
+1 more
- Date: 18 Oct 2027 · Kind: Lecture start · Term: Winter semester · 2027/28 · Semester start: 1 Oct 2027
What do they ask for?
AdmissionKind: Application documents · Items: Degree Certificate and Diploma or Subject and Grade Transcript of Studies to Date; Curriculum (e.g. module description); Form for Grade Calculation; Complete and Current Résumé; Letter of Motivation (in English); Passport; Proof of English Language Proficiency; Transcript of Records; Preliminary Documentation (VPD) if the qualification for graduate studies (e.g. a Bachelor’s) was obtained outside Germany)Kind: Enrollment documents · Items: Most Current Photo (as for ID); Application for Enrollment (signed); Degree Certificate and Diploma (authentic document); Digital notification of your health insurance status from a German public health insurance provider (requested by applicant); Transcript of Records (authentic document)
What else to look at
Other options
How do the alternatives compare?
4 of 6 similar publish a price
Similar: same level, field and language, Germany
The first two matches side by side with this programme, then 4 more.
| This programmeMathematical Finance and Actuarial Science TUM | SimilarRisk and Safety TUM | SimilarFinance and Information Management (FIM) TUM | |
|---|---|---|---|
| Price | €6,800 / semester · 2027/28 | €6,800 / semester · 2027/28 | €6,800 / semester · 2027/28 |
| Duration | 4 semesters | 4 semesters | 4 semesters |
| Language | English | English | English |
| Next date | 12 Apr 2027 | 18 Oct 2027 | 18 Oct 2027 |
5 of 6 publish a next date.
IU Internationale Hochschule · CologneGermany
MBA Finance & Accounting
€17,500 total · year not stated · confirm with the source
64% business and management · 14% projects and labs
Frankfurt School · Frankfurt am MainGermany
Master in Financial Technology
€35,500 total · 2027 · all nationalities €35,500 total · 2027 · for you (all nationalities)
44% business and management · 38% data and computing
Next date
Uni Mannheim · MannheimGermany
Mannheim Master in Finance, Accounting and Taxation
€1,500 / semester · year not stated · confirm with the source
75% business and management · 7% projects and labs
Next date
Where this comes from
Every fact has a source
Why trust this page?
52 facts from 6 official sources
Checked 5 days ago.
52facts with a quote
6official pages
3fields marked unknown
All 6 sources
The short version
The programme, from the facts
Mathematical Finance and Actuarial Science is a master's programme in economics and finance at Technische Universität München in Garching, Germany. It takes 4 semesters. It carries 120 ECTS credits. Teaching is in English.
The institution publishes 25 modules, of which 24 are optional. By our classification of module titles, the largest themes are free electives (32%), maths and foundations (29%) and thesis (15%).
How much does Mathematical Finance and Actuarial Science cost?
€6,800 / semester · 2027/28 · non-EU.
When is the next deadline or start?
12 Apr 2027 (Next start).
What language is it taught in?
English (Requires Ielts academic 6.5).
How long does it take?
4 semesters.
Where is it?
Technische Universität München, Garching, Germany.
Spotted a mistake? Report an error and we fix and log it.
Everything we hold
All 20 fields we hold
Every value with its source, and every field we looked for but could not find.
Money · 1 with values
Scholarships€500–€1,800 / semester · Non-EU/EEA citizens
Dates · 1 with values
StartDate: 12 Apr 2027 · Kind: Lecture start · Term: Summer semester · 2026/27 · Semester start: 1 Apr 2027Date: 18 Oct 2027 · Kind: Lecture start · Term: Winter semester · 2027/28 · Semester start: 1 Oct 2027
Admission · 5 with values
How to applyKind: Direct online · Portal: TUMonline · Preliminary review: uni-assist VPD for degrees obtained outside Germany
AdmissionKind: Application documents · Items: Degree Certificate and Diploma or Subject and Grade Transcript of Studies to Date; Curriculum (e.g. module description); Form for Grade Calculation; Complete and Current Résumé; Letter of Motivation (in English); Passport; Proof of English Language Proficiency; Transcript of Records; Preliminary Documentation (VPD) if the qualification for graduate studies (e.g. a Bachelor’s) was obtained outside Germany)Kind: Enrollment documents · Items: Most Current Photo (as for ID); Application for Enrollment (signed); Degree Certificate and Diploma (authentic document); Digital notification of your health insurance status from a German public health insurance provider (requested by applicant); Transcript of Records (authentic document)
Language requirementLanguage: English · Alternative: No · Deadline note: proof by end of application period · Proof required: YesCambridge cae · Scope: TUM-wide minimum for programmes taught in this language · Grades: A; B; C · Language: EnglishCambridge cpe · Scope: TUM-wide minimum for programmes taught in this language · Grades: A; B; C · Language: EnglishIelts academic 6.5 · Scope: TUM-wide minimum for programmes taught in this language · Language: EnglishPrior studies in english · Scope: TUM-wide minimum for programmes taught in this language · Language: English · Min share percent: 50Pte academic 65 · Scope: TUM-wide minimum for programmes taught in this language · Language: EnglishToefl ibt 88 · Scope: TUM-wide minimum for programmes taught in this language · Language: English
Prior educationExample: Bachelor · Qualification: Recognized undergraduate degree
Selection criteriaAptitude Assessment for Master · Stages: 2 · Criterion: Aptitude assessment
Programme · 8 with values · 2 without
CampusGarching
QualificationMaster of Science · Abbr: M.Sc.
Credits120 ECTS
Delivery?Not found on official pages
Duration4 semesters · Mode: Full time
Language of instructionEnglish
LevelMaster · EQF 7, ISCED 7
Outcomes?Not found on official pages
Start ruleTerms: Winter semester; Summer semester
Study modeFull time
Institution record: Technische Universität München