The Financial Mathematics track in the Mathematical Science MS program prepares graduate students to pursue careers in the finance industry by providing them with high quality professional training in of mathematics applicable to finance.
This track has three components: training in the necessary mathematics to pursue a career in financial mathematics, professional training in financial mathematics, and a required experiential component or equivalent.
Total Credit Hours Required: 30 Credit Hours Minimum beyond the Bachelor's Degree
Track Prerequisites
Working knowledge of undergraduate calculus, differential equations, linear algebra (or matrix theory), proficiency in a modern computer language, elementary probability, and statistics.
The following courses are required as prerequisites to this track: Calculus with Analytic Geometry I, II, and III; Differential Equations; Linear and Matrix Algebra (or a course equivalent); proficiency in a computer language; Elementary Probability and Statistics.
Degree Requirements
Required Courses
15 Total Credits
- Complete all of the following
- Complete the following:
- MAA5238 - Measure and Probability I (3)
- MAP5641 - Financial Mathematics I (3)
- MAP6642 - Financial Mathematics II (3)
- Complete at least 1 of the following:
- MAP5612 - Computational Methods for Financial Mathematics I (3)
- MAT5712 - Scientific Computing (3)
- Complete at least 1 of the following:
- MAP5606 - Differential Equations for Financial Mathematics (3)
- MAP5336 - Ordinary Differential Equations and Applications (3)
Restricted Electives
12 Total Credits
- Complete at least 4 of the following:
- MAP6616 - Computational Methods for Financial Mathematics II (3)
- MAP6646 - Risk Management for Financial Mathematics (3)
- MAP6195 - Mathematical Foundations for Massive Data Modeling and Analysis (3)
- MAP6197 - Mathematical Introduction to Deep Learning (3)
- MAP6207 - Optimization Theory (3)
- STA6857 - Applied Time Series Analysis (3)
- MAP6111 - Mathematical Statistics (3)
- ECO6281 - Financial Economics I: Asset Prices, Risk, and Information (3)
- ECO6282 - Financial Economics II: Continuous-Time Models (3)
- MAP6356 - Partial Differential Equations (3)
- MAA6245 - Measure and Probability II (3)
- MAA6506 - Functional Analysis (3)
Experiential Requirement
3 Total Credits
- Earn at least 3 credits from the following types of courses: Students must earn at least 3 credits to fulfill the experiential requirement. This can be achieved by satisfactorily completing one of the following options: (1) an internship in financial mathematics (MAP 6946), (2) an approved external or internal workshop in financial mathematics (MAP 6946), or (3) the following two courses with satisfactory grades: MAP 5931 - Proseminar for Financial Mathematics (1 credit) and MAP 5933 - Seminar in Financial Mathematics (2 credits). Additionally, students must deliver an oral presentation summarizing their experience as part of this requirement.
Grand Total Credits: 30
Application Requirements
Financial Information
The program has limited funding available to offer graduate teaching assistantship to full-time students.
Graduate students may receive financial assistance through fellowships, assistantships, tuition support, or loans. For more information, see the College of Graduate Studies Funding website, which describes the types of financial assistance available at UCF and provides general guidance in planning your graduate finances. The Financial Information section of the Graduate Catalog is another key resource.
Fellowship Information
Fellowships are awarded based on academic merit to highly qualified students. They are paid to students through the Office of Student Financial Assistance, based on instructions provided by the College of Graduate Studies. Fellowships are given to support a student's graduate study and do not have a work obligation. For more information, see UCF Graduate Fellowships, which includes descriptions of university fellowships and what you should do to be considered for a fellowship.
The Financial Mathematics program consists of 30 credit hours of courses and internship. Students will work with an adviser to design a program of study, which will be presented to the program director for approval. If a student has an industrial sponsor, the student's program of study will be developed in consultation with a representative from the student's sponsoring company. Students are expected to obtain hands-on experience. The capstone requirement for this track is fulfilled by students completing an experiential learning requirement (3 credit hours). At least one-half of the program courses must be taken at the 6000 level.
