Which schools have Mathematical Finance Majors

dstark
Tue, 31 Jan 2006 22:35:21 +0000

Monydad, so you would recommend somebody major in statistics or economics over financial math?

I have to say, I haven’t read anybody say financial math–what a great major! I have read the opposite.

Here is the program at UCSB. Is it really that bad or difficult?

http://www.math.ucsb.edu/ugrad/financial.php

Bachelor of Science in Financial Mathematics and Statistics

This is a joint major between the Departments of Mathematics and Statistics and Applied Probability, with the cooperation of the Department of Economics. It is intended for students who are interested in the applications of mathematics, probability and statistics to modern finance.

Modern finance is one of the fastest developing areas in the banking and corporate world. It focuses on the pricing of financial assets, including equities, bonds, currencies and derivative securities; portfolio management and the evaluation of financial risks; the financing of corporations; and many other topics. The tools of modern financial analysis rely on a thorough understanding of economic theory, mathematics and probability and statistics.

To successfully earn this degree:

PLAN EARLY: Lower division requirements include courses in mathematics, economics and computer science, as preparation for the study of finance at an advanced level. In particular, students are expected to complete the entire two-year calculus sequence Math 3ABC and Math 5ABC, as well as Economics 1 and 2, preferably during the freshman and sophomore years. Math 8 and a computer science course are also included as part of lower division preparation.

CORE COURSES: Upper division requirements include numerical analysis (Math 104AB), partial differential equations (Math 124AB) intermediate microeconomic theory (Econ 104A), probability theory (PSTAT 120ABC) and statistical computing (PSTAT 130). A new course, Introduction to Mathematical Finance (Math 170 or PSTAT 170), has been designed specifically for the new major. (See the General Catalog for a complete description of the requirements.)

ELECTIVES: Additional elective courses from mathematics, probability and statistics and economics are also required. The choice of electives should be worked out in consultation with a faculty advisor.

For a discussion of careers in finance, see the Careers in Finance web site, www.careers-in-finance.com.

The Pre-major requirements (42 units) are:
Math 3ABC
Math 5ABC
Math 8
Econ 1 and 2
Engr 3 or Computer Science 10 or one course from CS 5AA-ZZ

Upper-Division Requirements:

A minimum of 52 units of upper-division coursework is required.

The Upper-division requirements include 40 units of required courses:
Econ 104A Microeconomics
Math 104 AB Numerical Analyisis
Math 124AB Partial Differential Equations and Fourier Series
PStat 120ABC Probability and Statistics
PStat 130 Statistical Computing
PStat 170 or Math 170 Financial Analysis (new course)

12 units of upper-division electives can be chosen from:
Econ 104B Intermediate Microeconomics
Econ 105 Intermediate Macroeconomics
Econ 134AB Financial Management
Econ 140B Introduction to Econometrics
Math 104C Numerical Analysis
Math 108AB Linear Algebra
Math 117 Methods of Analysis
PStat 160AB Applied Stochastic Processes
PStat 171 Compound Interest
PStat 173 Risk Theory
PStat 174 Time Series

A Recommended Program

Fall Winter Spring


Freshman Year Econ 1
Math 3A Econ 2
Math 3B CMPSC*
Math 3C
Math 8
Sophomore Year Math 5A
PStat 120A Math 5B
PStat 120B Math 5C
PStat 120C
Junior Year Econ 104A
Math 104A Math 104B
PStat 130
Elective**
Senior Year Math 124A
Elective** Math 124B
PStat 170 Elective**
*Computer Science 5AA-ZZ, 10 or Engineering 3

**Chosen from above list

Administrative Procedures:
In order to become a Financial Mathematics major, a minimum grade point average (GPA) of 2.5 will be required in specific courses used as preparation for the major. All courses required for the major must be taken for a letter grade. Students who declare the pre-major are responsible for satisfying the degree requirements in effect at the time of their declaration. However, pre-major status does not guarantee admission to full major status. For purposes of movement from pre-major to full major status, the Computer Science 5AA-ZZ or 10 requirement will be excluded from the pre-major GPA calculation. However, the course will be included in the overall major GPA at the time of graduation.