Master of Science Curriculum

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

It is possible to switch from MS track to PhD track in quantitative finance in the Department of Mathematics at the Florida State University. Such a track change requires the following:

  • Take courses in the Quantitative Finance PhD preparation track
  • Pass the quilfier exams over the courses in the PhD preparation track that are marked by within the first two years of your studies
  • Choose a major professor and prepare for a candidacy exam

These requirements are the same as those in the PhD page under Advancement to PhD Candidacy.

The financial aid for the students who switch the track from MS to PhD is sunject to the availability of such funds at the time of switching.

All four 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: PhD prepratin and terminal MS tracks
  • 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, one hour in Fall of First Year and one hours in Fall of second year.

Financial Mathematics, Quantitative Finance track (PhD preparation option)
Required courses:
  • Common Core Courses: PhD prepratin and terminal MS tracks
  • STA 6346, Advanced Probability and Inference I, 3 hrs each, Fall
  • MAA 5616, Measure and Integration I, 3 hrs, Spring
  • MAD5403-4 Foundations of Computational Math, I-II, 3 hrs each, Fall and Spring
  • MAA56XX Stochastic Analysis, 3 hrs, Fall
  • MAA56XX Financial Engineering II, 3 hrs, Fall
and three additional approved elective courses.

Suggested 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 Elective Elective
STA 6346 Advanced Probability and Inference I MAA5616 Measure and Integration I MAA56XX Stochastic Analysis Elective
MAD5403 Foundations of Computational Math, I MAD5404 Foundations of Computational Math, II Elective MAP5615 Monte Carlo in Financial Math
MAT5939 Financial Math Proseminar MAT5939 Financial Math Proseminar

= PhD qualifier course

Financial Mathematics, Quantitative Finance track (terminal MS option)
Required Courses:
  • Common Core Courses: PhD prepratin and terminal MS tracks
  • STA5326 Distribution theory and Inference or STA 6346 Advanced Probability and Inference I, 3 hrs, Fall
  • ISC 5305 Scientific Programming, 3 hrs, Fall
  • MAD 5403 Foundations of Computational Mathematics I, Fall or MAP5611 Introduction to Computational Finance, Spring, 3 hrs
and six additional approved elective courses.

Suggested schedule for MS students.

1st Fall 1st Spring Summer 2nd Fall 2nd Spring
MAP5601 Introduction to Financial Mathematics MAP6621 Financial Engineering I Elective approved internship Elective Elective
ISC 5305 Scientific Programming MAP5611 Introduction to Computational Finance Elective MAP5615 Monte Carlo in Financial Math
STA5326 Distribution Theory and Inference or STA 6346 Advanced Probability and Inference I Elective Elective Elective
MAT5939 Financial Math Proseminar MAT5939 Financial Math Proseminar
Financial Mathematics, Actuarial Science track
Required Courses:
  • STA5326 Distribution theory, Fall, 3 hrs
  • MAP5611 Introduction to Computational Finance, 3 hrs, Fall
  • MAT 5970 Financial Mathematics for Actuaries, 3 hrs, Fall
  • MAP 5932 Short Term Actuarial Math I and MAT5932 Short-Term Actuarial Models II, 3 hrs each, Spring and Fall
  • MAP 5177 Long-Term Actuarial Models I and MAP 5178 Long-Term Actuarial Models II, 3 hrs each, Fall and 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 approved electives and 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

Suggested schedule for the Actuarial Science Track prepares the students for Actuarial exams P, FM, IFM, SRM, STAM, LTAM, and PA.

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 MAP6621 Financial Engineering I 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  
 

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 6939 Research Seminar in Financial Mathematics F / S Internship & Seminar
Approved electives offered by collaborating departments
Number Title Term Department
CAP 5638 Pattern Recognition F / S Computer Science
ISC 5318 High Performance Computing Fall Computer Science
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

Last Revised 1/11/2019