Master of Science Curriculum

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.

For a list of past sample course descriptions, see our course description page. See below for some sample course schedules.

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

  1. Financial Mathematics, Quantitative Finance track (PhD preparation option)

    This option prepares PhD intenders for further PhD study. (more)

  2. Financial Mathematics, Quantitative Finance track (terminal MS option)

    The quantitative finance track gives a general mathematical background for work in investments and trading. (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.

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

Common Core Courses
  • MAP 5601 Introduction to Financial Mathematics, 3 hrs, Spring
  • MAP 6621 Financial Engineering I, 3 hrs, Fall
  • MAP 5615 Monte Carlo Methods in Financial Mathematics, 3 hrs, Spring
  • MAT 5939r Financial Mathematics Proseminar, 1 hour in Fall, First and Second Year, for a total of 2 hours.

Financial Mathematics, Quantitative Finance track (PhD preparation option)

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

and up to four additional approved elective courses.

Financial Mathematics, Quantitative Finance track (terminal MS option)

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

and up to six additional approved elective courses.

Financial Mathematics, Actuarial Science track

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.)

plus two additional seminars from the following list:

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

Approved electives offered by the department of Mathematics

Consult the Coordinator of the Financial Math MS program if you want to take a course that is not announced or listed here. ( = Qualifier courses)

Number Title Term Area
MAA 5616 Measure & Integration I Spring Analysis
MAA 5617 Measure & Integration II Fall Analysis
MAA 6416 Topics in Stochastic Calculus Spring - Odd years Analysis
MAP 5207 Optimization Spring Analysis
MAD 5403 Foundations of Computational Mathematics I Fall Computational Mathematics
MAD 5404 Foundations of Computational Mathematics II Spring Computational Mathematics
MAD 5738 Numerical PDE Fall Computational Mathematics
MAD 5420 Numerical Optimization Fall Computational Mathematics
MAD 5932 Numerical Linear Algebra Fall Computational Mathematics
MAP 5345 Elementary PDE I Fall Differential Equations
MAP 5346 Elementary PDE II Spring Differential Equations
MAP 5932 Stochastic Differential Equations Fall Differential Equations
MAP 6XXX Financial Engineering II Fall Financial Mathematics
MAT 5945r Internship in Financial Mathematics Summer Internship & Seminar
MAP 6939r Research Seminar in Financial Mathematics F / S Internship & Seminar
Approved electives offered by collaborating departments
Number Title Term Department
CAP 5619 Deep and Reinforcement Learning Fundamentals F / S Computer Science
CAP 5638 Pattern Recognition F / S Computer Science
ISC 5318 High Performance Computing Fall Scientific Computing
ECO 5204 Macroeconomic Theory I Fall Economics
ECO 5281 Financial Economics I Spring Economics
ECO 5282 Financial Economics II Fall Economics
ECO 5715 International Finance Fall Economics
ECO 5416 Econometrics I various Economics
ECO 5423 Econometrics II various - but not also STA 5167 Economics
ECO 5408 Computational Economics I Fall Economics
ECO 5428 Time Series Analysis Summer Economics
FIN 5515 Investment Management and Analysis Fall Finance
FIN 5935 Financial Derivatives and Risk Management Spring Finance
STA 5167 Statistics in Applications II Spring Statistics
STA 5721 High Dimensional Statistics Spring Statistics
STA 5066 Data Management and Analysis with SAS I Fall Statistics
STA 5067 Data Management and Analysis with SAS II Spring Statistics
STA 5207 Applied Regression Methods Fall Statistics
STA 5327 Statistical Inference Spring Statistics
STA 5635 Applied Machine Learning Fall Statistics
STA 5807 Topics in Stochastic Processes Fall Statistics
STA 5856 Time Series and Forecasting Methods Spring Statistics
Sample Schedules

= PhD qualifier course; = Elective course option

Schedule A: A typical schedule for PhD students.

1st Fall 1st Spring Summer 2nd Fall 2nd Spring
MAP5601 Introduction to Financial Mathematics MAP6621 Financial Engineering I elective approved internship MAA56XX Stochastic Analysis MAP5615 Monte Carlo in Financial Math
STA 6346 Advanced Probability and Inference I MAA5616 Measure and Integration I Elective Elective
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 track (terminal MS option).

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 Electiveh
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 5970 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 3/30/2018