The MS in Financial Mathematics is a two-year degree (4 semesters) with coursework from the Mathematics, Statistics, and Scientific Computing Departments, and available electives from Economics, Finance, and Computer Science.
There are two track options:
-
Quantitative Finance/Financial Engineering track
This track gives a general mathematical background for work in the financial industry, including available coursework in machine learning, stochastic methods, and numerical analysis. (more)
-
Actuarial Science track
The actuarial science track prepares students for an Actuarial career, with a focus on providing background and preparation for actuarial exams. (more) Qualified MS students in this track are eligible for special Actuarial Teaching Assistantships. See the support page.
Both tracks require 33 letter graded hours (11 courses) plus 2 S/U graded Proseminar hours.
See below for some sample course schedules.
To complete the degree, students take the following courses:
- MAP 5601 Introduction to Financial Mathematics, 3 hrs, Fall
- MAP 6621 Financial Engineering I, 3 hrs, Spring
- MAP 5615 Monte Carlo Methods in Financial Mathematics, 3 hrs, Spring
- MAT 5939r Financial Mathematics Proseminar, 1 hour in Fall and Spring, for a total of 2 hours.
- ISC 5305 Scientific Programming, 3 hrs, Fall
- STA5326 Distribution theory and Inference or STA 6346 Advanced Probability and Inference I, 3 hrs, Fall
- CAP 5768 Introduction to Data Science, 3 hrs, Fall
Students will take the following courses (unless adjusted when a student has already passed an Actuarial exam):
- MAP 5601 Introduction to Financial Mathematics, 3 hrs, Fall
- MAT 5907 Financial Mathematics for Actuaries, 3 hrs, Fall
- MAP 5932 Short Term Actuarial Math I, 3 hrs, Spring
- MAT5932 Short-Term Actuarial Models II, 3 hrs, Fall
- MAP 5177 Long-Term Actuarial Models I, 3 hrs, Fall
- MAP 5178 Long-Term Actuarial Models II, 3 hrs, Spring
- STA 5325 Mathematical Statistics, 3 hrs, Spring
- STA 5207 Applied Regression Methods, 3 hrs, Fall
- STA 5856 Time Series and Forecasting Methods, 3 hrs, Spring
- Actuarial P-Seminar, 1 hrs, Fall
- Actuarial FM-Seminar, 1 hrs, Spring
- MAT 5939 Financial Mathematics Proseminar, 1 hrs, Fall
Applicants should indicate an interest in this track at the time of application.
= Elective course option
Quantitative Finance/Financial Engineering track
1st Fall | 1st Spring | Summer | 2nd Fall | 2nd Spring |
MAP5601 Introduction to Financial Mathematics | MAP6621 Financial Engineering I | Elective approved internship | CAP 5768 Introduction to Data Science | MAP5615 Monte Carlo in Financial Math |
ISC 5305 Scientific Programming | MAP5611 Introduction to Computational Finance | Elective | Elective | |
STA5326 Distribution Theory and Inference or STA 6346 Advanced Probability and Inference I | CAP 5771 Data Mining | Elective | (Elective) | |
MAT5939 Financial Math Proseminar | MAT5939 Financial Math Proseminar |
1st Fall | 1st Spring | Summer | 2nd Fall | 2nd Spring |
STA5326 Distribution theory and Inference | STA 5325 Mathematical Statistics | Elective approved internship | STA 5207 Applied Regression Methods | STA 5856 Time Series and Forecasting Methods |
MAP5601 Introduction to Financial Mathematics | Elective | MAP 5177 Long-Term Actuarial Models I | MAP 5178 Long-Term Actuarial Models II | |
MAT 5907 Financial Mathematics for Actuaries | MAP 5932 Short Term Actuarial Math I | MAP 5932 Short Term Actuarial Math II | (Elective) | |
MAT 5939 Financial Math Proseminar | MAT 5939 Financial Math Proseminar | |||
Actuarial P-Seminar | Actuarial FM-Seminar | |
Last Revised 9/17/2024