M.S. Applied Financial Math Degree Requirements

• 30 credits, including requirements listed below
• Completion of an exit project approved by the student's advising committee

Each of the following:

• Math 5620 Financial Math I (theory of interest) -3 F S
• Math 5621 Financial Math II (theory of corporate finance) -4 F S
• Math 5660 Advanced Financial Math (stochastic finance) -3 S
• Stat 5361 Statistical Computing (large financial models) -3 S

Any two of:

• Fnce 5202 Investments and Securities Analysis -3 F
• Fnce 5504 Options and Futures -3 S (usually Hartford campus)
• Fnce 5512 Fixed Income Instruments -3 F (usually Hartford campus)
• Fnce 5151 Introduction to Economic Markets -3 F S
• Fnce 6201 Introduction to Finance Theory and Evidence -3 F
• Fnce 6203 Theory of Financial Markets and Valuation -3 F

Any three of: ("Sloan" coursework)

• Grad 5900 sec. 01 Professional Communications -1 F S
• Math 5800 sec. 05 Practitioners' Forum -1 F (required once, may be repeated for credit)
• Math 5800 sec. 31 Yield Curve Models -1 S (may be repeated for credit)

• Math 5850 Graduate Field Study Internship -3 F S Summer
• Grad 5925 Curricular Practical Training -3 F S Summer (international students on CPT)

• Acct 5121 Financial Accounting and Reporting -3 F S (strongly encouraged, but not required)
• Math 3160 Probability -3 F S
• Math 3170 Elementary Stochastic Processes -3 S
• Stat 3965 Elementary Stochastic Processes -3 F (equivalent to Math 3170)
• Math 5335 Simulation -3 S
• Math 5637 Risk Theory -3 F
• Math 5110 Introduction to Modern Analysis -3 F
• Math 5111 Measure and Integration -3 S
• Math 5160 Probability and Stochastic Processes I -3 F
• Math 5161 Probability and Stochastic Processes II -3 S (with permission, can replace Math 5660)
• Stat 5415 Advanced Statistical Methods -3 S
• Stat 5585 Mathematical Statistics I -3 F
• Stat 5685 Mathematical Statistics II -3 S
• Stat 5505 Applied Statistics I -3 F
• Stat 5605 Applied Statistics II -3 S
• Stat 5315 Analysis of Experiments -3 F
• Stat 5825 Applied Time Series -3 S
• Econ 5201 Microeconomics -3 F S
• Econ 5202 Macroeconomics -3 F S
• Econ 5311 Econometrics I -3 S

A practical internship, usually during the summer between the 2nd the 3rd semester of a student's program, helps to assure a pragmatic focus in the student's approach. 3 academic credits (see above) are earned. With a wide range of financial firms in Connecticut (the leading U.S. insurance center and unofficial headquarters of the U.S. hedge fund industry) and in nearby New York and Boston, many students find attractive, well-paid internships, especially when the business is in a favorable point of its cycle. While we help students where possible to secure a paid internship, we cannot guarantee one because the business can be cyclical. Securing such an internship is the student's own responsibility. When necessary we enable students to meet the internship requirement by offering an unpaid internship assisting the research projects of faculty members who have extensive working experience in financial institutions.

The final requirement for the Professional Master's Degree is passing performance on an innovative exit project that will require an independent, scholarly, yet pragmatic piece of work that may take many forms. A comprehensive review paper on an appropriate topic could be assigned. Alternatively, the student could be requested to formulate a solution to a problem encountered in the particular career track chosen. It might be appropriate for the student to write a mock journal article or technical report on work encountered during an internship or other research-training phase of the degree. Some students might create complex financial simulation models and evaluate their results. Some students may already have positions secured prior to completion of the exit project. In these cases we consult with the appropriate corporate partner to determine the type of exercise that would be most beneficial to the student's preparation for employment. The student and the Advisory Committee will determine the nature and time frame for completion of the exit project. The Advisory Committee will evaluate the project under University guidelines. It is the intent of this innovative exit project to reinforce the discipline-specific competency and to provide an evaluation tool for relevant problem-solving abilities and writing skills.