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
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 college level courses in single variable and multivariable calculus and linear algebra. Background in probability and familiarity with programming language are highly recommended.
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
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.
Courses must be taken on the A/F grade basis, unless only offered S/N, with a minimum grade of B earned for each course.
Required Courses (32 credits)
Students complete all 4 course sequences for total of 32 credits. 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.
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)
Optional Course (0-2 credits)
Students may take the optional FM 5990 topics course.
FM 5990 - Topics in Financial Mathematics
(1.0-2.0 cr)
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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 |