Applied Mathematics Graduate Programs
Master of Mathematical Finance (MMF)
The objective of the MMF program is to provide individuals interested in pursuing careers in financial risk management with advanced education in theoretical, computational and business aspects of relevant quantitative methodologies. This is a collaborative program between the Stuart School of Business (SSB) and the Applied Mathematics Department (AM) and as such, it will give the students the chance to benefit from the strength of both units.
» Required Courses
| All IIT Graduate School requirements must be satisfied. Specific departmental requirements are: |
||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||
|
» Electives
|
Elective courses: A minimum of four additional courses, including at least one MATH or CS class, and at least three FM or MSF courses. 10.8 Quarter Credits and 3 Semester Credits |
||
| Course | Title | Credit Hours |
| FM 530 | VISUAL BASIC AND DATABASES FOR FINANCIAL MARKETS | 3.6 QRT |
| MSF 522 | FINANCIAL MODELING I | 3.6 QRT |
| MSF 523 | FINANCIAL MODELING II | 3.6 QRT |
| MSF 561 | FINANCIAL TIME SERIES ANALYSIS | 3.6 QRT |
| MSF 562 | ECONOMETRIC ANALYSIS | 3.6 QRT |
| MSF 573 | COMPUTATIONAL FINANCE III | 3.6 QRT |
| MATH 512 | PARTIAL DIFFERENTIAL EQUATIONS | 3 SEM |
| MATH 513 | PDEs FOR FINANCE | 3 SEM |
| MATH 543 | STOCHASTIC ANALYSIS | 3 SEM |
| MATH 544 | STOCHASTIC DYNAMICS | 3 SEM |
| MATH 583 | QUANTITATIVE MODELING OF DERIVATIVE SECURITIES | 3 SEM |
| MATH 584 | MATHEMATICAL PORTOFOLIO AND INVESTMENT THEORY | 3 SEM |
| MATH 587 | THEORY AND PRACTICE OF MODELING RISK AND CREDIT DERIVATIVES | 3 SEM |
| MATH 589 | NUMERICAL METHODS FOR PDEs | 3 SEM |
| CS 522 | DATA MINING | 3 SEM |
» Admission criteria
Admission to the professional master's program in Mathematical Finance requires a bachelor's degree in mathematics, engineering, or equivalent, with a minimum cumulative GPA of 3.0/4.0. TOEFL scores (if required) must have a minimum score of 550/213/80 (paper/computer/internet test score). A professional statement of goals/objectives (2 pages) and a curriculum vitae must be submitted. Two letters of recommendation are required (at least two must be from academia, the third may be from industry). An interview may also be required.
Typically, admitted students score at least 700 on the quantitative portion of the GRE and at least 3.0 on the analytical portion. However, meeting the minimum or typical GPA test-score requirements does not guarantee admission. GPA and test scores are just two of several important factors considered for admission to the program, including grades in mathematics courses, letters of recommendation and the student's overall record of achievements.
Also see:
Stuart School of Business MMF site
Graduate Application FAQ
SIAM Student Chapter