Mathematical Science (MS) - Financial Mathematics Track (2024)

Program at a Glance

Program
Master
College(s)
College of Sciences
Department(s)
Mathematics
  • In State Tuition
  • Out of State Tuition

$369.65 per credit hour

$1,194.05 per credit hour

Learn more about the cost to attend UCF.

Mathematical Science (MS) - Financial Mathematics Track (1)

The Financial Mathematics track in the Mathematical Science MS program prepares graduate students to pursue careers in the finance industry by providing them with high quality professional training in of mathematics applicable to finance.

This track has three components: training in the necessary mathematics to pursue a career in financial mathematics, professional training in financial mathematics, and a required experiential component or equivalent.

Total Credit Hours Required: 30 Credit Hours Minimum beyond the Bachelor's Degree

Application Deadlines

  • Domestic
  • International

Spring
December 1

Fall
April 1

Spring
July 1

Fall
January 15

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The Financial Mathematics track in the Mathematical Science MS program prepares graduate students to pursue careers in the finance industry by providing them with high quality professional training in of mathematics applicable to finance.

This track has three components: training in the necessary mathematics to pursue a career in financial mathematics, professional training in financial mathematics, and a required experiential component or equivalent.

Total Credit Hours Required: 30 Credit Hours Minimum beyond the Bachelor's Degree

Track Prerequisites

Working knowledge of undergraduate calculus, differential equations, linear algebra (or matrix theory), proficiency in a modern computer language, elementary probability, and statistics.

The following courses are required as prerequisites to this track: Calculus with Analytic Geometry I, II, and III; Differential Equations; Linear and Matrix Algebra (or a course equivalent); proficiency in a computer language; Elementary Probability and Statistics.

Degree Requirements

Required Courses

21 Total Credits

  • Complete the following:
    • MAP5606 - Differential Equations for Financial Mathematics (3)
    • MAP5612 - Computational Methods for Financial Mathematics I (3)
    • MAP5641 - Financial Mathematics I (3)
    • MAP5931 - Proseminar for Financial Mathematics (1)
    • MAP5933 - Seminar in Financial Mathematics (2)
    • MAP6616 - Computational Methods for Financial Mathematics II (3)
    • MAP6642 - Financial Mathematics II (3)
    • MAP6646 - Risk Management for Financial Mathematics (3)

Restricted Electives

6 Total Credits

  • Complete at least 2 of the following:
    • FIN6406 - Strategic Financial Management (3)
    • FIN6515 - Analysis of Investment Opportunities (3)
    • MAP6207 - Optimization Theory (3)
    • STA6857 - Applied Time Series Analysis (3)
    • STA5703 - Data Mining Methodology I (3)
    • STA5825 - Stochastic Processes and Applied Probability Theory (3)

Experiential Requirement

3 Total Credits

  • Earn at least 3 credits from the following types of courses: Students will demonstrate experience in the application of mathematics to industrial problems. This demonstration can be accomplished either through the satisfactory completion of an internship in financial mathematics (MAP 6946), or through satisfactory performance at an approved external/internal workshop in financial mathematics (MAP 6946). Students are required as part of the experiential requirement to deliver an oral presentation on the experience. Students are very strongly encouraged to fulfill this requirement through an internship experience.

Grand Total Credits: 30

Application Requirements

Financial Information

The program has limited funding available to offer graduate teaching assistantship to full-time students.

Graduate students may receive financial assistance through fellowships, assistantships, tuition support, or loans. For more information, see the College of Graduate Studies Funding website, which describes the types of financial assistance available at UCF and provides general guidance in planning your graduate finances. The Financial Information section of the Graduate Catalog is another key resource.

Fellowship Information

Fellowships are awarded based on academic merit to highly qualified students. They are paid to students through the Office of Student Financial Assistance, based on instructions provided by the College of Graduate Studies. Fellowships are given to support a student's graduate study and do not have a work obligation. For more information, see UCF Graduate Fellowships, which includes descriptions of university fellowships and what you should do to be considered for a fellowship.

The Financial Mathematics program consists of 30 credit hours of courses and internship. Students will work with an adviser to design a program of study, which will be presented to the program director for approval. If a student has an industrial sponsor, the student's program of study will be developed in consultation with a representative from the student's sponsoring company. Students are expected to obtain hands-on experience. The capstone requirement for this track is fulfilled by students completing an experiential learning requirement (3 credit hours). At least one-half of the program courses must be taken at the 6000 level.

Mathematical Science (MS) - Financial Mathematics Track (2024)

FAQs

How hard is a master's in mathematical finance? ›

A master's degree in finance is like traversing a treacherous mountain range, but it offers invaluable skills, knowledge, and career opportunities. A master's in finance's main challenge is course difficulty and workload. Students must learn advanced mathematical financial models, theories, and equations.

Is financial mathematics difficult? ›

One thing that's for sure is the high amount of math you will need to study. Finance is a mathematical discipline, so if you aren't as comfortable with math as with other ways of thinking, you may find it more challenging. Additionally, finance also makes use of a vast, highly specific vocabulary.

What math is needed for financial mathematics? ›

While each program will vary slightly, students earning a finance degree can expect to take a sizable amount of math classes. Finance degrees will often cover more basic mathematical concepts such as algebra and statistics, as well as more industry-specific math courses such as probability and business mathematics.

Is masters in finance hard? ›

Finance degrees are generally considered to be challenging. In a program like this, students gain exposure to new concepts, from financial lingo to mathematical problems, so there can be a learning curve.

What is the hardest math master's in the world? ›

Part III of the Mathematical Tripos (officially Master of Mathematics/Master of Advanced Study) is a one-year master's-level taught course in mathematics offered at the Faculty of Mathematics, University of Cambridge. It is regarded as one of the most difficult and intensive mathematics courses in the world.

Is finance degree math heavy? ›

While finance requires some mathematics training and some knowledge and skills in accounting and economics, it's not necessarily more difficult than any other field of study, particularly for people with an aptitude for math.

What math class is hardest? ›

Differential equations, real analysis, and complex analysis are some of the most challenging mathematics courses that are offered at the high school level. These courses are typically taken by students who are interested in pursuing careers in mathematics, physics, or engineering.

Should I do finance if I'm not good at math? ›

Believe it or not, mastery of advanced math skills is not necessary to have a career in finance. With today's technology, all math-related tasks can be done by computers and calculators. That said, there are some basic math skills that would certainly make you a better candidate in the finance industry.

Is finance harder than accounting? ›

Is finance harder than accounting? Accounting relies on precise arithmetic principles, making it more complex, whereas finance requires a grasp of economics and accounting without as much mathematical detail.

Is financial math calculus? ›

In the business realm, calculus can be used to scrutinize complex financial models, optimize business operations, and make informed decisions based on mathematical logic.

What's the highest level of math? ›

Generally, the highest levels are Calculus BC (Advanced Placement, or AP) or Multivariable Calculus. Some schools may also offer courses such as Linear Algebra or Differential Equations.

How useful is financial mathematics? ›

In addition, financial mathematics is applied considerably to solve problems, such as: Derivative security pricing and valuation. Portfolio creation and structuring. Quantitative investing strategies.

What is the hardest course in finance? ›

Answer: There are some finance courses such as Chartered Accountancy (CA), Chartered Financial Analyst (CFA), Company Secretary (CS) and Financial Risk Manager (FRM) regarded as the toughest course to crack in fiance.

Is an MBA harder than a Masters? ›

Is an MBA harder than a master's? The difficulty of a program depends entirely on the institution. Both an MBA and master's in business are graduate-level programs, and meet the same rigorous academic standards. So, neither option is inherently easier than the other.

Is an MS or MBA better? ›

In other words, an MBA is often the top choice for well-established professionals looking to climb the career ladder, whereas an MS in Management is better suited to individuals who want to kick-start their career growth shortly after earning their bachelor's.

Is mathematical finance a good degree? ›

After becoming proficient in math, many students turn to mathematical finance because of its incorporation of statistics, risk management, and economic theory. In particular, majoring in Mathematical Finance can typically form a pathway towards becoming a data scientist, quantitative analyst, and Market Risk Analyst.

Is it hard to get into a math master's program? ›

It is about the process of getting in, which has gotten somewhat daunting, if you don't go about it the right way and with your eyes open. The bad news: Getting into math grad school is a lot harder than getting into college.

What GPA do you need for Master of finance? ›

Master of Finance | Admission
  • An undergraduate degree from a recognized post-secondary institution with a minimum B+ average in the last two full years (or equivalent) of academic work. ...
  • A strong quantitative background. ...
  • Graduate Management Admission Test (GMAT) or Graduate Record Examination (GRE) ...
  • Work Experience.

What is a Masters in financial mathematics? ›

part of Natural Sciences & Mathematics

Financial Mathematics focuses on the mathematical properties and relations between concepts and elements related to the structure of financial and currency markets in inflation processes analysis, investment and other economic activities.

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