This page describes curriculum options for MS students and PhD students in their first two years of study.

The MS in Financial Mathematics is a two-year degree involving coursework from the Mathematics, Statistics, and Scientific Computing Departments, and available electives from Economics, Finance, and Computer Science. A summer internship experience is encouraged.

The PhD in Financial Mathematics normally begins with two years of coursework outlined here. See the PhD page for more details about that degree.

See below for some sample course schedules.

There are four track options within the two-year MS program:

1. Financial Mathematics, Quantitative Finance PhD track

   This track is intended for those admitted to the PhD program, and prepares PhD intenders for further study. (more)

2. Financial Mathematics, Quantitative Finance MS track

   This track gives a general mathematical background for work in the financial industry, for students intending to complete their studies with the MS degree. (more)

3. Financial Mathematics, Actuarial Science track

   The actuarial science track focuses on preparation for an Actuarial career. (more) Qualified MS students in this track are eligible for special Actuarial Teaching Assistantships. See the support page.

4. Financial Mathematics, Data Science track

   The data science track focuses on preparation for a career in the financial/tech industry with an emphasis on the skills in data science. (more)

All four tracks require 33 letter graded hours (11 courses) plus 2 S/U graded Proseminar hours, including the following required Common Core courses:

To complete the degree, students take the Common Core courses above, plus the following courses,

• MAD 5403-4 Foundations of Computational Math, I-II, 3 hrs each, Fall and Spring
• STA 6346, Advanced Probability and Inference I, 3 hrs, Fall
• MAA 5616, Measure and Integration I, 3 hrs, Fall
• MAP 5932 Stochastic Analysis, 3 hrs, Spring

and four additional approved elective courses.

To complete the degree, students take the Common Core courses above, plus the following courses:

• MAP5611 Intro to Computational Finance, Spring, 3 hrs
• ISC 5305 Scientific Programming, 3 hrs, Fall
• STA5326 Distribution theory and Inference or STA 6346 Advanced Probability and Inference I, 3 hrs, Fall

and five or six additional approved elective courses.

Applicants should indicate an interest in this track at the time of the application. Students in this track will take MAP 5601 Introduction to Financial Mathematics and MAT 5939r Financial Mathematics Proseminar from the common core, plus the following courses: (Appropriate adjustments will be made for students who have passed an Actuarial Science exam.)

• 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

plus two additional seminars from the following list:

• Actuarial P-Seminar, 1 hrs, Fall
• Actuarial FM-Seminar, 1 hrs, Spring
• MAT 5939 Financial Mathematics Proseminar, 1 hrs, Fall

(See the page on actuarial science after a bachelor's degree for other options in actuarial science at FSU.)

To complete the degree, students take the Common Core courses above, plus the following courses:

• CIS 5930 Introduction to Data Science, 3 hrs, Fall
• CAP 5771 Data Mining, 3 hrs, Spring
• STA 5635 Machine Learning or CAP 5638 Pattern Recognition, 3 hrs, Spring

and five or six additional approved elective courses.

See the Elective Options page for a list of approved electives for the MS degree.

= PhD qualifier course; = Elective course option

Schedule A: A typical schedule for the PhD track.

1st Fall	1st Spring	Summer	2nd Fall	2nd Spring
MAP5601 Introduction to Financial Mathematics	MAP6621 Financial Engineering I	elective approved internship	MAP6xxx Financial Engineering II, or Elective	MAP5615 Monte Carlo in Financial Math
STA 6346 Advanced Probability and Inference I	Elective		MAA5616 Measure and Integration I	MAP5932 Stochastic Analysis
MAD5403 Foundations of Computational Math, I	MAD5404 Foundations of Computational Math, II		Elective	Elective
MAT5939 Financial Math Proseminar	MAT5939 Financial Math Proseminar

Schedule B: A typical schedule for the Quantitative Finance MS track.

1st Fall	1st Spring	Summer	2nd Fall	2nd Spring
MAP5601 Introduction to Financial Mathematics	MAP6621 Financial Engineering I	Elective approved internship	Elective	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	Elective		Elective	(Elective)
MAT5939 Financial Math Proseminar	MAT5939 Financial Math Proseminar

Schedule C: A typical schedule for the Actuarial Science Track.

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

Schedule D: A typical schedule for the Data Science track.

1st Fall	1st Spring	Summer	2nd Fall	2nd Spring
STA5326 Distribution theory and Inference or STA 6346 Advanced Probability and Inference I	MAP6621 Financial Engineering I	Elective approved internship	STA 5207 Applied Regression Methods	STA 5635 Machine Learning or CAP 5638 Pattern Recognition
MAP5601 Introduction to Financial Mathematics	MAP5611 Introduction to Computational Finance		Elective	MAP5615 Monte Carlo in Financial Math
CIS 5930 Introduction to Data Science	CAP 5771 Data Mining		Elective	(Elective)
MAT5939 Financial Math Proseminar	MAT5939 Financial Math Proseminar