Twin Cities campus
 
Twin Cities Campus

Financial Mathematics M.F.M.

School of Mathematics
College of Science and Engineering
Link to a list of faculty for this program.
Contact Information
Program in Financial Mathematics, 127 Vincent Hall, 206 Church Street SE, Minneapolis, MN 55455 (612-624-6391; fax: 612-624-6702)
  • Program Type: Master's
  • Requirements for this program are current for Spring 2018
  • Length of program in credits: 32
  • This program does not require summer semesters for timely completion.
  • Degree: Master of Financial Mathematics
Along with the program-specific requirements listed below, please read the General Information section of this website for requirements that apply to all major fields.
The master of financial mathematics degree program helps students understand the underlying mathematics of quantitative finance. The program offers a range of courses, from theoretical to practical, including a mathematical course on stochastic processes, a practitioner's course offering hands-on application of financial software tools, and a programming course focusing on C# and MATLAB. Courses are offered in the evenings to accommodate working professionals. The program is designed with the possibility for full-time students to complete all requirements in one year.
Program Delivery
  • via classroom (the majority of instruction is face-to-face)
Prerequisites for Admission
A bachelor's degree from an accredited US university or foreign equivalent. The minimum undergraduate GPA for admittance to the program is 3.00.
Other requirements to be completed before admission:
Applicants should have completed college level courses in single variable and multivariable calculus and linear algebra. Background in probability and familiarity with programming language are highly recommended.
Special Application Requirements:
Applications are accepted for fall semester only. The application deadline is February 1. Additional information is available at http://www.math.umn.edu/finmath/admission_requirements/
Applicants must submit their test score(s) from the following:
  • GRE
International applicants must submit score(s) from one of the following tests:
  • TOEFL
    • Internet Based - Total Score: 79
    • Internet Based - Writing Score: 21
    • Internet Based - Reading Score: 19
Key to test abbreviations (GRE, TOEFL).
For an online application or for more information about graduate education admissions, see the General Information section of this website.
Program Requirements
Plan C: Plan C requires 32 major credits and 0 credits outside the major. There is no final exam.
This program may be completed with a minor.
Use of 4xxx courses towards program requirements is not permitted.
A minimum GPA of 2.80 is required for students to remain in good standing.
The MFM requires 32 credits, consisting of four year-long course sequences. These sequences may be taken either in parallel or sequentially, following their numerical order, with the exception of FM 5091/5092, which is recommended to be taken as early as possible. In addition to the 32 required credits, students who either do not have a strong mathematics background or who need a refresher may be asked to take FM 5001/5002 - Preparation for Financial Mathematics. Students may take the optional FM 5990 topics course, which is offered periodically.
Required Courses
FM 5011 - Mathematical Background for Finance I (4.0 cr)
FM 5012 - Mathematical Background for Finance II (4.0 cr)
FM 5021 - Mathematical Theory Applied to Finance I (4.0 cr)
FM 5022 - Mathematical Theory Applied to Finance II (4.0 cr)
FM 5031 - A Practitioner's Course in Finance I (4.0 cr)
FM 5032 - A Practitioner's Course in Finance II (4.0 cr)
FM 5091 - Computation, Algorithms, and Coding in Finance I (4.0 cr)
FM 5092 - Computation, Algorithms, and Coding in Finance II (4.0 cr)
Elective Course
FM 5990 - Topics in Financial Mathematics (1.0-2.0 cr)
 
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FM 5011 - Mathematical Background for Finance I
Credits: 4.0 [max 4.0]
Typically offered: Every Fall
Mathematics needed for MFM program. Focuses on finance. prereq: [5001, 5002] with grade of at least B or [MFM program director approval, grad MFM major]
FM 5012 - Mathematical Background for Finance II
Credits: 4.0 [max 4.0]
Typically offered: Every Spring
Mathematics needed for MFM program. Focuses on finance. prereq: 5011, grad MFM major, program director approval
FM 5021 - Mathematical Theory Applied to Finance I
Credits: 4.0 [max 4.0]
Typically offered: Every Fall
Bridge between theory and application. prereq: [5011 or concurrent registration is required (or allowed) in 5011], grad MFM major, program director approval
FM 5022 - Mathematical Theory Applied to Finance II
Credits: 4.0 [max 4.0]
Typically offered: Every Spring
Bridge between theory and application. prereq: 5021, [5012 or concurrent registration is required (or allowed) in 5012], grad MFM major, program director approval
FM 5031 - A Practitioner's Course in Finance I
Credits: 4.0 [max 4.0]
Typically offered: Every Fall
Practical course taught by industry professionals. Focuses on hands-on real-world problem solving. prereq: [5021 or concurrent registration is required (or allowed) in 5021], grad MFM major, program director approval
FM 5032 - A Practitioner's Course in Finance II
Credits: 4.0 [max 4.0]
Typically offered: Every Spring
Taught by industry professionals. Focuses on hands-on real-world problem solving. prereq: 5031, [5022 or concurrent registration is required (or allowed) in 5022], grad MFM major, program director approval
FM 5091 - Computation, Algorithms, and Coding in Finance I
Credits: 4.0 [max 4.0]
Typically offered: Every Fall
Implements popular finance models and numerical techniques using mainstream computational tools/languages. prereq: Grad MFM major, program director approval
FM 5092 - Computation, Algorithms, and Coding in Finance II
Credits: 4.0 [max 4.0]
Typically offered: Every Spring
Implements popular finance models and numerical techniques using mainstream computational tools/languages. prereq: 5091, grad MFM major, program director approval
FM 5990 - Topics in Financial Mathematics
Credits: 1.0 -2.0 [max 6.0]
Typically offered: Periodic Fall & Spring
The course will focus on a special topic in quantitative finance that supplements the regular curriculum of the Master of Financial Mathematics program. The course features experts, often finance industry practitioners, who share their experience and knowledge. prereq: enrolled in the Master of Financial Mathematics program or instr consent