The Master of Science in Applied Financial Mathematics is a professional degree that focuses on rigorous mathematical modeling in finance, investment and risk management to prepare a graduate for analytic work across a wide spectrum of the financial services industry. It includes a practical component often fulfilled by an internship. The Master of Science in Applied Financial Mathematics with concentration in Actuarial Science includes a component of study directed towards actuarial science.
Requirements
Applied Financial Math (MSAFM)
Course List
| Course |
Title |
Credits |
| |
| MATH 5600 | Fundamentals of Financial Mathematics | 3 |
| MATH 5620 | Financial Mathematics I | 3 |
| MATH 5650 | Financial Mathematics II | 4 |
| MATH 5660 | Advanced Financial Mathematics | 3 |
| STAT 5361 | Statistical Computing | 3-4 |
| or MATH 5637 | Statistics for Actuarial Modeling |
| 6 |
| Financial Statement Analysis and Business Valuation | |
| Investment and Security Analysis | |
| Options and Futures | |
| Fixed Income Instruments and Markets | |
| Real Estate Investment and Portfolio Management | |
| Real Estate Capital Markets | |
| Introduction to Finance Theory and Evidence | |
| Theory of Financial Markets and Valuation | |
| Yield Curve Models | |
| 1 | 6 |
| Special Topics in Graduate Education | |
| Fundamentals of Financial Mathematics | |
| Yield Curve Models | |
| Financial Programming and Modeling | |
| Financial Data Mining and Big Data Analytics | |
| Graduate Field Study Internship | |
| |
In addition, the student is required either to pass an Exit Project or to pass two Society of Actuaries examinations. The format and structure of the exit project is determined by the student in collaboration with their advisor and must be approved by the advisor. The actuarial examinations may be passed prior to admission.
Applied Financial Math (MSAFM) With Concentration in Actuarial Science
The MSAFM with concentration in Actuarial Science has the same requirements as the MSAFM degree except the student is only required to take one finance focused course and must take at least one advanced actuarial course from:
Course List
| Course |
Title |
Credits |
| MATH 5630 | Long-Term Actuarial Mathematics I | 4 |
| MATH 5631 | Long-Term Actuarial Mathematics II | 4 |
| MATH 5637 | Statistics for Actuarial Modeling | 4 |
| MATH 5638 | Predictive Analytics for Actuaries | 3 |
| MATH 5639 | Actuarial Loss Models | 3 |
| MATH 5640 | Short-Term Insurance Ratemaking | 3 |
| MATH 5641 | Short-Term Insurance Reserving | 3 |
