The Financial Mathematics track within the Mathematical Science MS program equips graduate students with a robust mathematical foundation tailored for careers in the finance industry. This track emphasizes high-quality, professional training in mathematics applied to finance, enabling graduates to stand out in a competitive field.
Structured around three core components, this track includes (1) rigorous training in the fundamental mathematics essential for financial mathematics, (2) specialized professional training in finance-specific mathematical applications, and (3) a required experiential component, such as an internship or equivalent practical experience.
This strong mathematical foundation not only enhances students' understanding of current financial technologies but also makes them more adaptable and versatile in learning new tools and approaches, giving them a distinct edge over graduates from less mathematically rigorous programs.
Total Credit Hours Required: 30 Credit Hours Minimum beyond the Bachelor's Degree
Track Prerequisites
A solid foundation in undergraduate calculus sequence, differential equations, linear algebra, elementary probability, and statistics, as well as proficiency in a modern programming language, is required for this track.
Degree Requirements
Required Courses
15 Total Credits
- Complete all of the following
- Complete the following:
- MAA5238 - Measure and Probability I (3)
- MAP5641 - Financial Mathematics I (3)
- MAP6642 - Financial Mathematics II (3)
- Complete at least 1 of the following:
- MAP5612 - Computational Methods for Financial Mathematics I (3)
- MAT5712 - Scientific Computing (3)
- Complete at least 1 of the following:
- MAP5606 - Differential Equations for Financial Mathematics (3)
- MAP5336 - Ordinary Differential Equations and Applications (3)
Restricted Electives
12 Total Credits
- Complete at least 4 of the following:
- MAP6616 - Computational Methods for Financial Mathematics II (3)
- MAP6646 - Risk Management for Financial Mathematics (3)
- MAP6195 - Mathematical Foundations for Massive Data Modeling and Analysis (3)
- MAP6197 - Mathematical Introduction to Deep Learning (3)
- MAP6207 - Optimization Theory (3)
- STA6857 - Applied Time Series Analysis (3)
- MAP6111 - Mathematical Statistics (3)
- ECO6281 - Financial Economics I: Asset Prices, Risk, and Information (3)
- ECO6282 - Financial Economics II: Continuous-Time Models (3)
- MAP6356 - Partial Differential Equations (3)
- MAA6245 - Measure and Probability II (3)
- MAA6506 - Functional Analysis (3)
Experiential Requirement
3 Total Credits
- Earn at least 3 credits from the following types of courses: Students must earn at least 3 credits to fulfill the experiential requirement. This can be achieved by satisfactorily completing one of the following options: (1) an internship in financial mathematics (MAP 6946), (2) an approved external or internal workshop in financial mathematics (MAP 6946), or (3) the following two courses with satisfactory grades: MAP 5931 - Proseminar for Financial Mathematics (1 credit) and MAP 5933 - Seminar in Financial Mathematics (2 credits). Additionally, students must deliver an oral presentation summarizing their experience as part of this requirement.
Grand Total Credits: 30
Application Requirements
Financial Information
Fellowship Information
The Financial Mathematics program consists of 30 credit hours of courses and internship. Students will work with an adviser to design a program of study, which will be presented to the program director for approval. If a student has an industrial sponsor, the student's program of study will be developed in consultation with a representative from the student's sponsoring company. Students are expected to obtain hands-on experience. The capstone requirement for this track is fulfilled by students completing an experiential learning requirement (3 credit hours). At least one-half of the program courses must be taken at the 6000 level.
