| |  | | Financial Mathematics | Link to a list of faculty for this program.
Contact Information—Master of Financial Mathematics Degree Program, School of Mathematics, University of Minnesota, 127 Vincent Hall, 206 Church Street S.E., Minneapolis, MN 55455 (612-625-1306; fax 612-624-6702; gradprog@math.umn.edu; www.math.umn.edu/finmath/).
Along with the program-specific requirements listed below, please read the General
Information section of this catalog for Graduate School requirements that
apply to all major fields.
Curriculum—This 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 and a practitioner's course offering hands-on practice to learn financial
software tools. There is also a programming course with a focus on learning to
use software to present technical material to a not necessarily technical audience.
Courses are offered in the evenings to accommodate working professionals. The
program is designed with a possibility for full-time students to complete all
requirements in one year.
Prerequisites for Admission—A primary criterion for admission
is a strong knowledge of undergraduate mathematics (particularly multivariable
calculus, some ODEs and linear algebra) and/or significant work experience in
finance. Those who are admitted, but who either do not have a strong mathematics
background or who may need a "refresher" may be requested to take
the course sequence: FM 5001/FM 5002—Preparation for Financial Mathematics.
Special Application Requirements—Applicants are requested
to submit GRE Mathematics Subject test scores only. Generally speaking, admission
is restricted to those with GRE Mathematics Subject Scores above the 50th percentile.
Students should submit test scores, transcripts, and three letters of recommendation
by February 28 for early admission notification, and no later than June 5. Students
normally are admitted fall semester only.
Key to test abbreviations (GRE, TOEFL, GMAT, MELAB).
 For an online application or for more information about Graduate School admissions, see the General Information section in this catalog, or visit the Graduate School Web site.
Courses—Refer to Financial Mathematics (FM) in University Courses for courses pertaining to these programs.
Use of 4xxx Courses—Inclusion of 4xxx courses on degree program forms is subject to adviser and director of graduate studies approval. |
M.F.M. Degree Requirements | | The
M.F.M. requires 30 credits, consisting of four year-long course sequences.
Each sequence has a fall term course and a spring term course which must
be taken in sequence. The course sequences are: FM 5011/5012—Mathematical
Background for Finance; FM 5021/5022—Mathematical Theory Applied
to Finance; FM 5031/5032—A Practitioner's Course in Finance;
and FM 5091/5092—Programming and Presentation in Finance. In addition
to the 30 required credits, students who either do not have a strong mathematics
background or need a "refresher" may be asked to take FM 5001/5002—Preparation
for Financial Mathematics.
Language Requirements—None.
Final Exam—None. | Faculty | | For latest graduate faculty listings, see <www.grad.umn.edu/faculty_rosters/faculty.html>. Key to membership categories (abbreviations after faculty names).
Professor
Scot Robert Adams, M2
John Robert Baxter, M2
Bernardo Cockburn, M2
Lawrence F. Gray, M2
Assistant Professor
Carlos Tolmasky, AM2
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