Financial Mathematics Major

Department of Mathematics

This major is first and foremost a course of study in mathematics, with a focus on the computational tools and techniques needed to thrive in the financial engineering industry. In today’s specialized world, a sophisticated level of mathematical understanding is an essential competitive edge. As this program includes courses in Economics and Finance, students who would usually not consider a traditional mathematics major will find this program especially attractive. Interested students are urged to contact the Department of Mathematics as early as possible. The student will be assigned an advisor who will aid in formulating an appropriate course of study.

A student majoring in financial mathematics cannot minor in mathematics or declare a second major in statistics.

Requirements for the Major

Math Program Pre-requisites

NOTES:

At least an overall B+ average is required for the calculus courses preceding MTH 3020, MTH 3030 or MTH 3050 in each of the above options.
MTH 3050 may be replaced with MTH 3020 and MTH 3035 in any of the above options.
At least a B or better is required in: MTH 3050; or MTH 3020 and MTH 3035; or MTH 3030 and MTH 3035 as appropriate.
To gain official admission to the program students must complete MTH 4000 with a minimum grade of B.

Math Program Prerequisites:
Students must satisfy the following:
MTH 1023 or MTH 1030 or FSPM 1023 or FSPM 1031 or placement higher than MTH 1030. MTH 2000 or MTH 2001 or MTH 2002 or MTH 2002T or MTH 2003 or MTH 2009 or MTH 2009T or placement of MTH 2207 or higher.
As a preliminary requirement, students must complete the calculus requirement, which may be achieved by any one of the following six options:
Option 1	Calculus AP Exam (BC) with a score of 4 or 5 (transfers to Baruch as MTH 2610 and MTH 3010) And MTH 3050 Calculus III and Vector Calculus *	12 credits
or
Option 2	Calculus AP Exam (AB) with a score of 4 or 5 (transfers to Baruch as MTH 2610 Calculus I) And MTH 3010 Calculus II And MTH 3050 Calculus III and Vector Calculus*	12 credits
or
Option 3	MTH 2600 Calculus I with Trigonometry Refresher or MTH 2610 Calculus I *And* MTH 3010 Calculus II *And* MTH 3050 Calculus III and Vector Calculus *	12 credits
or
Option 4	*One of the following:* MTH 2205 Precalculus and Elements of Calculus 1B MTH 2206 Applied Calculus MTH 2207 Elements of Calculus I and Matrix Applications and the following three courses: MTH 3006 Elements of Calculus II MTH 3030 Elements of Calculus III MTH 3035 Vector Calculus*	13-14 credits
or
Option 5	One of the following: MTH 2205 Precalculus and Elements of Calculus 1B MTH 2206 Applied Calculus MTH 2207 Elements of Calculus I and Matrix Applications and the following three courses: MTH 3006 Elements of Calculus II MTH 3007 Infinite Series MTH 3050 Calculus III and Vector Calculus *	12 – 13 credits
or
Option 6	MTH 2630 Analytic Geometry and Calculus I MTH 3030 Analytic Geometry and Calculus II MTH 3035 Vector Calculus *	11 credits
Each option also requires:
MTH 4000	Bridge to Higher Mathematics	4 credits

Business Program Pre-requisites

ACC 2101	Principles of Accounting	3 credits
ECO 1001	Micro-Economics	3 credits
ECO 1002	Macro-Economics	3 credits

Required Courses

Required Finance Courses:
FIN 3000	Principles of Finance	3 credits
FIN 3610	Corporate Finance	3 credits
Required Upper-level Mathematics Courses:
MTH 3300	Algorithms, Computers, and Programming I	3 credits
MTH 3210 or MTH 4100	A First Course in Linear Algebra or Linear Algebra	3 credits
MTH 4115	Numerical Methods for Differential Equations	4 credits
MTH 4120	Introduction to Probability *	4 credits
MTH 4125	Introduction to Stochastic Processes	4 credits
MTH 4130	Mathematics of Data Analysis (formerly Mathematics of Statistics)	4 credits
MTH 4300	Algorithms, Computers, and Programming II**	3 credits
MTH 4500	Introductory Financial Mathematics	4 credits
MTH 4600	Data Analysis and Simulation for Financial Engineers	4 credits
MTH 5500	Stochastic Calculus for Finance	4 credits

* Students who have completed MTH 3120 cannot enroll in MTH 4120. They must satisfy the probability requirement by registering for MTH 4119 as an independent study (please consult the Department of Mathematics).

** Students who have completed CIS 3100 are ineligible to receive credit for MTH 4300. They must satisfy the requirement by registering for MTH 4299 and CIS 3100.

Students are expected to complete the major requirements in place at the time they are officially accepted into their programs. Please review the College Bulletin for the relevant academic year.

Contact

Department of Mathematics
646-312-4110

Professor Douglas Howard (Financial Mathematics)
646-312-4163