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 four track options within the two-year 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 the financial industry. (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.
-
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:
Common Core Courses
- MAP 5601 Introduction to Financial Mathematics, 3 hrs, Fall
- MAP 6621 Financial Engineering I, 3 hrs, Spring
- MAP 5615 Monte Carlo Methods in Financial Mathematics, 3 hrs, Spring
- MAT 5939r Financial Mathematics Proseminar, 1 hour in Fall and Spring, 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 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, 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 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.)
Financial Mathematics, Data Science track
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 up to six additional approved elective courses.
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 |
Fall |
Analysis |
|
MAA 5617 |
Measure & Integration II |
Spring |
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 |
F / S |
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 |
Spring |
Finance |
|
FIN 5935 |
Financial Derivatives and Risk Management |
Fall |
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 |
MAA5616 Measure and Integration I |
MAP5615 Monte Carlo in Financial Math |
STA 6346 Advanced Probability and Inference I |
Elective |
|
Elective |
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 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 |
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 |
|
|
|
Last Revised 3/30/2018