The Financial Mathematics track in the Mathematics PhD program is designed to prepare students for research and leadership positions in industry, government, non-governmental organizations, and academia requiring employment of financial mathematics.
The Mathematics PhD program consists of at least 75 credit hours of course work beyond the bachelor's degree, of which a minimum of 48 hours of formal course work, exclusive of independent study, are required. The program requires 36 credit hours of core courses and 15 credit hours of dissertation research (7980).
Total Credit Hours Required: 75 Credit Hours Minimum beyond the Bachelor's Degree
Track Prerequisites
Bachelor's degree in related field.
Students entering the graduate program with regular status are assumed to have a working knowledge of undergraduate calculus, differential equations, linear algebra (or matrix theory), boundary value problems, statistics, computer programming, and maturity in the language of advanced calculus (at the level of MAA 4226).
Degree Requirements
Required Courses
36 Total Credits
- Complete all of the following
- All students are required to complete the following courses with grade of "B" or better.
- Complete the following:
- MAA5237 - Mathematical Analysis (3)
- MAS5145 - Advanced Linear Algebra and Matrix Theory (3)
- MAP5641 - Financial Mathematics I (3)
- MAP6642 - Financial Mathematics II (3)
- MAP5612 - Computational Methods for Financial Mathematics I (3)
- MAP6616 - Computational Methods for Financial Mathematics II (3)
- MAP6646 - Risk Management for Financial Mathematics (3)
- MAP5606 - Differential Equations for Financial Mathematics (3)
- MAP6195 - Mathematical Foundations for Massive Data Modeling and Analysis (3)
- MAP6207 - Optimization Theory (3)
- STA6857 - Applied Time Series Analysis (3)
- MAP5931 - Proseminar for Financial Mathematics (1)
- MAP5933 - Seminar in Financial Mathematics (2)
- The remaining credit hours consist of additional dissertation research (7980 or 7919), at least 15 credit hours of regular classroom elective courses, and at most 12 credit hours of independent study or independent directed research. Students who pass the qualifying examination may substitute some of the core courses with the approval of the adviser and the graduate program director.
Elective Courses
24 Total Credits
- Earn at least 24 credits from the following types of courses: Elective courses require the approval of the adviser and the graduate program director; up to 12 credit hours of elective courses may be taken outside the department. At least one-half of the program courses must be taken at the 6000 level. At least 12 hours of elective course work must be formal course work, exclusive of independent study. Electives are chosen in consultation with the student's advisory committee and may be chosen from the suggested options: Discrete Mathematics, General Applied Mathematics, Mathematical Computer Tomography, Image Processing and Computer Graphics, Mathematical Finance, Mathematical Physics, Pure Mathematics, Data Science, and Mathematical Statistics. A list of elective course options can be obtained from the graduate program director. Courses that are taken outside the Mathematics department must be approved by both the adviser and graduate program director. These courses are selected in consultation with the student's advisory committee.
Dissertation
15 Total Credits
- Earn at least 15 credits from the following types of courses: MAP 7980 - Dissertation Research 15 Credit Hours (minimum) After passing the candidacy examination and meeting the other requirements that are required for admission to candidacy, the student can register for Doctoral Dissertation (MAP 7980). A minimum of 15 Doctoral Dissertation credit hours are required for the degree.
Examinations
0 Total Credits No Rules
Qualifying Examination
0 Total Credits
- The qualifying/comprehensive examination is based on the core course work. To continue in the PhD program, students must pass the examination at the PhD level. Two attempts are permitted. The examination will be administered twice a year: one in the Fall semester and the other in the Spring semester. To take the examination, students must have earned a "B" or better in each core course, must have a minimum grade point average of 3.0 (out of 4.0) in the program, or must obtain permission from the graduate program director. Students will normally take the examination after the first year and are expected to have passed it by the end of the second year of study, unless a written request for a postponement has been approved by the Graduate Committee at least two months before the examination date. The student must pass the Qualifying Examination in at most two attempts. It is strongly recommended that the student select a dissertation adviser by the completion of 18 credit hours of course work, and it is strongly recommended that the student works with the dissertation adviser to form a dissertation committee within two semesters of passing the Qualifying Examination.
Candidacy Examination
0 Total Credits
- The Candidacy Examination consists of a written examination based on the materials from two selected two-semester sequence courses taken by the students. A committee formed or selected by the Graduate Committee or the graduate program director is responsible for preparing and grading the written examinations. Each sequence that is selected for the candidacy examination must be approved by the dissertation adviser, the dissertation committee, and the graduate program director. Students in the Financial Mathematics Track will ordinarily select one of the sequences for their candidacy examination to be MAP 5641/MAP6642 Financial Mathematics I and II, and MAP5612/MAP6616 Computational Methods for Financial Mathematics I and II. The Candidacy Examination can be attempted after passing the qualifying examination. The Candidacy Examination must be completed within three years after passing the qualifying examination. A student must successfully pass the Candidacy Examination within at most two attempts.
Admission to Candidacy
0 Total Credits
- The following are required to be admitted to candidacy and enroll in dissertation hours: Completion of all course work, except for dissertation hours. Successful completion of the candidacy examination. The dissertation advisory committee is formed, consisting of approved graduate faculty and graduate faculty scholars. Submittal of an approved program of study.
Dissertation
0 Total Credits No Rules
Dissertation Proposal Examination
0 Total Credits
- After passing the candidacy examination, the student will prepare a dissertation proposal and orally present it to the dissertation advisory committee for approval. The proposal will include a description of the research performed to date and an agenda for the research planned to be completed for the dissertation. In addition to standards of correctness, indicating a suitable level of mastery of the material of the area of the dissertation, and suitability of the proposed dissertation topic, the presentation must meet current standards for professional presentations within the discipline of mathematics. For the successful completion of the Dissertation Proposal Examination, the presentation must be judged as passing the requirements for the examination by the majority of the dissertation committee. This exam must be passed within 18 months of passing the candidacy examination and not later than the end of the sixth year of graduate study. A candidate must pass this examination within at most two attempts.
Dissertation Defense
0 Total Credits
- Upon completion of a student's research, the student's committee schedules an oral defense of the dissertation. Most students complete the program within five years after obtaining their bachelor's degree. Students are expected to complete the dissertation in no more than seven years from the date of admission to the program.
Independent Learning
0 Total Credits
- The required 15 credit hours of dissertation will provide ample opportunities for students to gain the independent learning experience through studying published research papers and deriving, on their own, new and meaningful research results.
Grand Total Credits: 75
Application Requirements
Financial Information
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 department offers over 20 Graduate Teaching Assistantships every year on a competitive basis. A few Graduate Research Assistantships are also available for qualified students.
