Degree Requirements
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The MS degree in Financial Mathematics is a two-year cross-disciplinary degree involving coursework from the Mathematics, Finance, Statistics, and Economics Departments at FSU, with available courses from Computer Science, Risk Management, and Computational Science. Students participate in a weekly Proseminar for three or four semesters, and in the fourth semester students complete an individual project as a capstone experience as part of the course "Current Topics in Financial Mathematics".
The degree requires 36 letter-graded graduate hours, and 3 hours of
S/U-graded Proseminar, for a total of 39 hours.
Required courses:
| MAP 5601 | Introduction to Financial Mathematics | 3 hrs, Fall |
| MAP 5611 | Introduction to Computational Finance | 3 hrs, Spring |
| ECO 5281 | Financial Economics I | 3 hrs, Spring |
| FIN 5515 | Investment Management Analysis | 3 hrs, Fall |
| STA 5326 | Distribution Theory and Inference | 3 hrs, Fall |
| MAP 6621 | Financial Engineering I | 3 hrs, Fall |
| MAP 6437 | Current Topics in Financial Mathematics | 3 hrs, Spring |
| MAP5615 | Monte Carlo Methods in Financial Mathematics | 3 hrs, Spring |
| MAT 5939r | Financial
Mathematics
Proseminar |
1 hr (Fall, Spring) |
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(Proseminar should be taken during the first
three semesters
for a total of 3 hrs) |
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| Subtotal |
27 hrs |
Note: If a student has taken one of the required courses
elsewhere, a waiver can be granted by the Director. In that case, the
student will take another course to satisfy the thirty-six hour
requirement. Consult the Director for details.
| MATH ELECTIVE 1 |
3 hrs |
| MATH ELECTIVE 2 |
3 hrs |
| GENERAL ELECTIVE 1 |
3 hrs |
| GENERAL ELECTIVE 2 |
3 hrs |
| Total | 39 hrs |
Recommended Electives
The following courses are regularly offered electives -- additional choices are announced by the Director each semester. Consult the Director if you want to take a course that is not announced or listed here.
Certain pairs of courses are listed as Concentrations, which are suggested two-course sequences for students interested in that topic.
Math Electives:
Concentration in Actuarial Science:
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MAP 5177 (Actuarial Models I, 3, Fall) | |
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MAP 5178 (Actuarial Models II, 3, Spring) | |
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Students must take both courses to receive degree credit; MAP 5177 is a prerequisite for MAP 5178. First year actuarial seminars are also available; students are encouraged to contact the Director at the start of their first semester if interested in this Concentration. Follow this link for more information.
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MAP 5345-5346 Elementary PDE I & II (3 each, Fall, Spring) | |
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MAA 5616-5617 Measure & Integration I & II (3 each, Fall, Spring) [required for the PhD degree] | |
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MAA 6416, Topics in Stochastic Calculus (3, odd-year Springs) | |
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MAA 5406-5407 Complex Analysis I & II (3 each, Fall, Spring) | |
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MAD 5403-5404 Foundations of Computational Mathematics I & II (3 each, Fall, Spring) | |
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MAP 5207 Optimization (3, Spring) | |
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MAD 5420 Numerical Optimization (3, Spring, odd years) | |
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MAD 5738 Numerical PDE (3, Fall) | |
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MAP 5932 Stochastic Differential Equations (3, Spring) | |
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MAD 5932 Numerical Linear Algebra (3, Fall) | |
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MAT 5945r, Internship in Financial Mathematics, (1) (London Program 1-3 hrs. TBA) | |
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General Electives:
The courses above may be counted as general electives, in addition to the following.
Concentration in Regression and Financial Time Series:
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STA 5167 Statistics in Applications II (3, Spring) or STA 5207 Applied Regression Methods (3, Fall) | |
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ECO 5428 Time Series Analysis (3, Spring) or STA 5856 Time Series and Forecasting Methods (3, Spring) | |
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STA 5167 is a prerequisite for ECO 5428, and should be taken in the first spring semester. The prerequisites for STA 5167 are (i) STA 5326 (taken in the first Fall), (ii) an undergraduate-level Statistics course, and (iii) some knowledge of the R programming language (see www.r-project.org for information on R).
Computer Science:
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CAP 5638, Pattern Recognition (3, Fall or Spring) | |
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Economics:
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ECO 5204, Macroeconomic Theory I (3, Fall) | |
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ECO 5282, Financial Economics II (3, Fall) | |
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ECO 5715 International Finance (3, Fall) | |
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ECO 5416 Econometrics I (3, Summer) | |
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ECO 5423 Econometrics II (but not also STA 5167; Prereq: undergrad Statistics) (3, Fall) | |
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ECO 5408 Computational Economics I (3, Fall) | |
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Statistics:
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STA 5327 Statistical Inference II (3, Spring) | |
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STA 5807 Topics in Stochastic Processes (3) | |
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Finance and Risk Management and Insurance:
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consult the Director for current availability | |
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Each student's schedule of courses is planned with the Director. A typical schedule leading to the MS degree is the following:
| 1st Fall | 1st Spring | Summer | 2nd Fall | 2nd Spring |
| MAP5601 Intro to Financial Mathematics | MAP5611 Intro to Computational Finance | MAP6621 Financial Engineering I | MAP6437 Current Topics (Projects) | |
| STA5326 Distribution Theory and Inference | ECO5281 Financial Economics I | optional approved internship | FIN5515 Investments | MAP5615 Monte Carlo in FinMath |
| Elective | Elective | Elective | Elective | |
| MAT5939 Financial Math Proseminar | MAT5939 Financial Math Proseminar | MAT5939 Financial Math Proseminar |
Note: STA5326 and FIN5515 can be swapped in this schedule for students who have taken a course on Corporate Finance before their first Fall semester at FSU.
Financial Mathematics Master’s Degree Checksheet
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Last modified: 30 October 2011