Campuses:
This is archival data. This system was retired as of August 21, 2023 and the information on this page has not been updated since then. For current information, visit catalogs.umn.edu.
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)
Email:
mcfam@umn.edu
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 (MFM) 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 Python and C#.
Courses are offered in the evenings to accommodate working professionals, and can be completed as a full- or part-time student.
Program Delivery
Prerequisites for Admission
The preferred undergraduate GPA for admittance to the program
is 3.00.
A bachelor's degree from an accredited US university or foreign equivalent.
Other requirements to be completed before admission:
Applicants should have completed four semester college-level courses that cover single variable and multivariable calculus and linear algebra, a calculus-based probability course, and have the ability to write code in any programming language.
Students who do not have a strong mathematics background or who need a refresher may be asked to take FM 5001/5002 - Preparation for Financial Mathematics.
Special Application Requirements:
Applications are accepted for fall semester only. The application deadline is February 1.
Applicants must submit their test score(s) from the following:
International applicants must submit score(s) from one of the following tests:
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
35
major credits and
up to
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.
Courses offered on both the A-F and S/N grading basis must be taken A-F.
Required Coursework (29 credits)
Take the following courses. Take FM 5101 in fall of the first year and FM 5202 in spring of the first year.
FM 5101 - Current Events in Finance
(1.0 cr)
FM 5111 - Introduction to Financial Markets
(3.0 cr)
FM 5121 - Mathematics for Finance
(3.0 cr)
FM 5151 - Financial Modeling I: Python
(3.0 cr)
FM 5202 - Ethics in Finance
(1.0 cr)
FM 5212 - Continuous Time Finance
(3.0 cr)
FM 5222 - Statistical Methods in Finance
(3.0 cr)
FM 5252 - Financial Modeling II: Numerical Methods and Simulations
(3.0 cr)
FM 5323 - Data Science and Machine Learning in Finance
(3.0 cr)
FM 5343 - Quantitative Risk Management
(3.0 cr)
FM 5353 - Software Development in Finance
(3.0 cr)
Elective Coursework (6 credits)
Select 6 credits in consultation with the advisor.
FM 5411 - Fixed Income Market
(2.0 cr)
FM 5422 - Quantitative Hedge Fund Strategies
(2.0 cr)
FM 5432 - Portfolio Optimization
(2.0 cr)
FM 5443 - Credit Risk Models
(2.0 cr)
FM 5462 - Market Microstructure
(2.0 cr)
FM 5993 - Directed Study in Financial Mathematics
(1.0-2.0 cr)
FM 5996 - Internship
(1.0 cr)
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Credits: | 1.0 [max 3.0] |
Grading Basis: | S-N only |
Typically offered: | Every Fall |
Credits: | 3.0 [max 3.0] |
Typically offered: | Every Fall |
Credits: | 3.0 [max 3.0] |
Typically offered: | Every Fall |
Credits: | 3.0 [max 3.0] |
Typically offered: | Every Fall |
Credits: | 1.0 [max 1.0] |
Grading Basis: | S-N only |
Typically offered: | Every Spring |
Credits: | 3.0 [max 3.0] |
Typically offered: | Every Spring |
Credits: | 3.0 [max 3.0] |
Typically offered: | Every Spring |
Credits: | 3.0 [max 3.0] |
Typically offered: | Every Spring |
Credits: | 3.0 [max 3.0] |
Typically offered: | Every Fall |
Credits: | 3.0 [max 3.0] |
Typically offered: | Every Fall |
Credits: | 3.0 [max 3.0] |
Typically offered: | Every Fall |
Credits: | 2.0 [max 2.0] |
Typically offered: | Periodic Fall |
Credits: | 2.0 [max 2.0] |
Typically offered: | Periodic Spring |
Credits: | 2.0 [max 2.0] |
Typically offered: | Periodic Spring |
Credits: | 2.0 [max 2.0] |
Typically offered: | Periodic Spring |
Credits: | 2.0 [max 2.0] |
Typically offered: | Periodic Spring |
Credits: | 1.0 -2.0 [max 6.0] |
Typically offered: | Periodic Fall & Spring |
Credits: | 1.0 [max 8.0] |
Grading Basis: | S-N only |
Typically offered: | Every Fall, Spring & Summer |