Master's in Mathematics with a Concentration in Math Finance
Rationale for a Master's with a Focus in Financial Mathematics
The department anticipates an increase in the demand for management professionals with a broad and extensive mathematical background. A thorough understanding of the computational and analytical methods of finance and risk is essential for financial officers and managers of many commercial and institutional enterprises. For corporations with a substantial scientific component, a knowledge of new developments in modeling and computation and how best to apply them will be highly valuable for future managers.
The goal of this suggested series of courses is to train a new class of professionals with strong scientific and mathematical qualifications, as well as managerial and business skills. The professionals will occupy leadership positions in corporations that run extensive scientific operations or whose activities are affected by advances in technology. These future leaders and skilled professionals will require analytical skills beyond what is offered by traditional curricula at the bachelor's or master's level.
Their needs are cross-disciplinary and involve proficiency in complex systems with large data sets, many interacting components, and novel materials and techniques from many different fields. In order to be successful in the future, they must be confident in identifying critical variables, building analytical and computational models, forming simplifying assumptions, and locating paths to test and to further improve the models.