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:
mfmath@umn.edu
Website: http://www.math.umn.edu/finmath/
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
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 math.umn.edu/mcfam/financial-mathematics.
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
32
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.
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)
|
|
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Fall |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Spring |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Fall |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Spring |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Fall |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Spring |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Fall |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Spring |
Credits: | 1.0 -2.0 [max 6.0] |
Typically offered: | Periodic Fall & Spring |