Financial Mathematics

Admission to Graduate Study
Financial Mathematics

Preparation. To accommodate students from a variety of backgrounds, we have set up a flexible program with some course choices based on previous preparation. The typical first Fall semester courses in the program require good knowledge of undergraduate mathematics, including:
multivariate calculus

linear algebra

differential equations

probability, and

upper division advanced calculus.

In addition,
students must have some corporate finance background to satisfy the prerequisites of the Fall course FIN 5515 (see the FIN 5515 course description for more details), and

before the first Spring semester, as a prerequisite for MAP 5611 Computational Finance, students must have a working knowledge of a high level programming language such as C++, Fortran, or Java.

However, students without corporate finance or adequate programming skills may fill in this background in the Summer before the first Fall -- see Entry Date below.

Applications. If you are interested in this program, go to http://www.math.fsu.edu/Academics/Graduate/ and follow links until you have completed the application steps for Stage I. International applicants should apply by December 15 for the following Summer or Fall if they want priority consideration for financial assistance; domestic applicants by January 15. Later applications are also considered when space is available.

Please apply for the degree (MS or PhD) you currently intend to be your terminal degree. However, note that both MS and PhD students follow the Master's course program in the beginning; PhD students are expected to satisfy the requirements of the MS degree; and MS students may petition to transfer to the PhD program if their record is strong.

To be considered for admission, you must submit
official GRE scores, with a minimum of 700 Quantitative and 1100 combined Quantative + Verbal,

current transcripts from all attended post-secondary institutions

letters of recommendation sent directly to us from the recommender

a completed online Departmental application form (see above).

Additionally, if your native language is not English and you have not previously completed at least two years of study in the US, you will need to submit
TOEFL scores.

Entry Date. Normal admission to the program is granted for either Summer or Fall each academic year. Because of the demands of graduate courses in and outside mathematics, most students need to enter the program at the beginning of one of the summer terms (around May 10 or June 20) to fill in needed background. E.g. it is common for mathematics students not to have yet taken corporate finance; such students should plan to arrive for the second summer term when they can be placed in FIN 3403 to prepare for the Fall course FIN 5515.

In rare cases students have begun the program in January; PhD applicants with an advanced background should consult the Director of Financial Math before applying for a January admission.

Financial aid. Though highly competitive in this popular program, many of the graduate students in the home department, Mathematics, have support from Fellowships or Teaching or Research Assistantships. FSU Fellowships are described here. An early application is critical for the best chance of financial aid. Also, the strong orientation program for new TAs is offered in Summer C-term and those awarded teaching assistantships may be paid a small stipend beginning at that time.

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