Twin Cities campus

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Twin Cities Campus

Fundamentals of Quantitative Finance Postbaccalaureate Certificate

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
Website: https://cse.umn.edu/mcfam/fundamentals-quantitative-finance-fqf-post-baccalaureate-certificate
  • Program Type: Post-baccalaureate credit certificate/licensure/endorsement
  • Requirements for this program are current for Fall 2023
  • Length of program in credits: 15
  • This program does not require summer semesters for timely completion.
  • Degree: Fundamentals of Quantitative Finance Pbacc Cert
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 15-credit Fundamentals of Quantitative Finance (FQF) certificate is good preparation for the Financial Mathematics master's (MFM) program.
Program Delivery
  • via classroom (the majority of instruction is face-to-face)
  • completely online (all program coursework can be completed online)
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 a good background in mathematics, but not necessarily at the level of a mathematics major. All applicants must have taken at least three semesters of college calculus, covering two semesters of single variable calculus and an additional semester of either multivariable calculus or linear algebra. International students who want to attend this program on a student visa should contact the University's International Student and Scholar Services (ISSS) office at https://isss.umn.edu/.
Special Application Requirements:
Applications are accepted for fall semester only. The application deadline is May 15.
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 (TOEFL).
For an online application or for more information about graduate education admissions, see the General Information section of this website.
Program Requirements
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.
Required Courses (15 credits)
Take the following courses:
FM 5001 - Preparation for Financial Mathematics I (3.0 cr)
FM 5002 - Preparation for Financial Mathematics II (3.0 cr)
FM 5111 - Introduction to Financial Markets (3.0 cr)
FM 5151 - Financial Modeling I: Python (3.0 cr)
FM 5252 - Financial Modeling II: Numerical Methods and Simulations (3.0 cr)
 
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FM 5001 - Preparation for Financial Mathematics I
Credits: 3.0 [max 3.0]
Typically offered: Every Fall
Mathematics needed for MFM program. prereq: Grad MFM major or MFM program director approval
FM 5002 - Preparation for Financial Mathematics II
Credits: 3.0 [max 3.0]
Typically offered: Every Spring
Mathematics needed for MFM program. prereq: 5001, program director approval
FM 5111 - Introduction to Financial Markets
Credits: 3.0 [max 3.0]
Typically offered: Every Fall
This course is a survey of important elements of financial markets and setting the context to the program. Topics include Complete vs incomplete markets, financial institutions, traded instruments, elements of accounting, arbitrage, Fundamental Theorem of Asset Pricing, Credit, Investment and Risk Management.
FM 5151 - Financial Modeling I: Python
Credits: 3.0 [max 3.0]
Typically offered: Every Fall
This course establishes the basic principles of Financial Modeling. Topics include different kinds of models (e.g. descriptive vs explanatory, statistical vs structural, etc.), foundational models used in finance (binomial, lognormal, Gaussian, etc.) and their applications (stocks, interest rates, commodities, etc.). Python will be used extensively to illustrate the models, therefore this course also serves as an introduction to the use of Python in finance.
FM 5252 - Financial Modeling II: Numerical Methods and Simulations
Credits: 3.0 [max 3.0]
Typically offered: Every Spring
This course focuses on Monte Carlo simulations and elements of scientific computing as tools in modeling. These methods will be used as a key technique to develop and assess models, and considerable time will be spent on the interpretation of model outputs.