Master of Science Curriculum
The MS in Financial Mathematics is a twoyear 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 twoyear MS program:

Financial Mathematics, Quantitative Finance track (PhD preparation option)
This option prepares PhD intenders for further PhD study. (more)

Financial Mathematics, Quantitative Finance track (terminal MS option)
The quantitative finance track gives a general mathematical background for work in investments and trading. (more)

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,
 MAD 54034 Foundations of Computational Math, III, 3 hrs each, Fall and Spring
 STA 6346, Advanced Probability and Inference I, 3 hrs, Fall
 MAA 5616, Measure and Integration I, 3 hrs, Spring
 MAA 56XX Stochastic Analysis, 3 hrs, Fall
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:
 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 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.)
 MAT 5970 Financial Mathematics for Actuaries, 3 hrs, Fall
 MAP 5932 Short Term Actuarial Math I, 3 hrs, Spring
 MAT5932 ShortTerm Actuarial Models II, 3 hrs, Fall
 MAP 5177 LongTerm Actuarial Models I, 3 hrs, Fall
 MAP 5178 LongTerm 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 PSeminar, 1 hrs, Fall
 Actuarial FMSeminar, 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.)
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 LongTerm Actuarial Models I 
MAP 5178 LongTerm 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 PSeminar 
Actuarial FMSeminar 



Last Revised 3/30/2018