MS in Mathematical Finance

Changes to this program will take effect in the 2015–2016 academic year.

Mathematical Finance students take 16 credits in the Fall Semester and 16 credits in the Spring Semester of their first year. Students may participate in an optional internship during the summer between the first and second adademic years. Students take 16 credits in the Fall Semester of their second year.

All incoming students are required to attend the Mathematical Finance Preparation Week (MF 601).

MS in Mathematical Finance Curriculum—48 cr*

16 credits 16 credits 0 cr 16 credits
MF 702 Fundamentals of Finance (4 cr) MF 703 C++ Programming for Mathematical Finance (4 cr) Optional internship (0 cr) MF 730
Portfolio Theory (4 cr)
MF 792 Stochastic Methods of Mathematical Finance I (4 cr) MF 728
Fixed Income Securities (4 cr)
MF 731
Corporate Risk Management (4 cr)
MF 793 Statistical Methods of Mathematical Finance (4 cr) MF 794 Stochastic Optimal Control and Investment (4 cr) MF 770 Advanced Derivatives (4 cr)
MF 795 Stochastic Methods of Mathematical Finance II (4 cr) MF 796 Computational Methods of Mathematical Finance (4 cr) MF 772 Credit Risk (4 cr)

*48 credits is the minimum required for single degree completion. The flat, per-semester tuition for full-time students encompasses 12–18 credits per semester. The curriculum and courses are subject to change as recommended by faculty, deans, and administrators of the Questrom School of Business.

Upon successful completion of program requirements, Mathematical Finance students are anticipated to graduate in January. All students who graduate in January are invited to attend the Questrom School of Business Commencement ceremony in May.

Optional Electives

In some semesters, the Mathematical Finance program offers 2-credit optional electives. These electives are offered in addition to the required curriculum. Grades earned in optional electives count toward the Mathematical Finance degree and are included when calculating the student’s cumulative GPA.

Credits & Course Sequencing

All Mathematical Finance courses are taken for 4 credits. The MS in Mathematical Finance program is a lock-step sequenced program.

Academic Standards

Academic Performance Review for MS in Mathematical Finance Students

The Graduate Programs Office monitors students’ academic performance at the end of the Fall and Spring Semesters, up until the time of graduation. A student must maintain a cumulative grade point average (CGPA) of at least 2.70 (on a 4.0 scale) to be in good academic standing (i.e., to graduate). Coursework taken outside the Questrom School of Business, which does not count toward the MS in Mathematical Finance degree, will not be calculated into the student’s CGPA.

The Mathematical Finance Faculty Program Development Committee (PDC) has final responsibility for decisions regarding students with poor academic performance. The committee determines whether students will be permitted to stay in the program, and if so, what specific steps must be taken to regain good academic standing. A PDC decision for permanent academic withdrawal is final and no appeals to the PDC beyond the Student Statement (described below) are allowed.

Students with a CGPA below 2.70 after the fall and spring terms will be referred to the PDC for review. Students will be informed of their academic position via their BU email address prior to the start of the subsequent semester. All students in poor academic standing must meet with their GPO advisor (in person or by telephone) within 48 hours of receipt of this communication to discuss the situation. If a Student Statement is submitted, this is due within 72 hours of the performance notification. It is the student’s responsibility to be aware of the tight window between notice and action and to plan accordingly.

After 16 credits attempted, Mathematical Finance students with a CGPA less than 2.30 will be withdrawn from the program. Students with a CGPA between 2.3 and 2.69 after 16 credits may be academically withdrawn from the program or receive a written warning with recommendations for improvement.

After 32 credits attempted, students with a CGPA less than 2.30 will be automatically withdrawn from the program. Students with a CGPA between 2.3 and 2.69 after 32 credits may be academically withdrawn from the program or receive a written warning with recommendations for improvement. Mathematical Finance students are not permitted to take additional credits, beyond the semester in which they have completed their degree requirements, to improve their CGPA.

After all program credits are completed, all students must achieve a 2.70 or higher CGPA in order to graduate. Students are not permitted to take additional credits beyond the semester in which they have completed their degree requirements in order to improve their CGPA or restart enrollment, nor can they withdraw and re-enroll.

Please be aware that your CGPA can also affect your eligibility for continuing financial aid, including scholarships and loans. Students must maintain satisfactory academic progress (at least a 2.70 CGPA) in order to be eligible for continued Federal Stafford Loan funding and private educational loan funding.

Student Statement

The Student Statement is voluntary, though it is strongly encouraged, as it offers the sole opportunity for student input into PDC decisions. The statement is self-reflective and provides the student’s explanation for their poor academic performance. The statement is due within 72 hours of notice of poor performance by the GPO. The statement is the student’s individual work product and must be prepared accordingly.

Degree Completion

To qualify for the MS in Mathematical Finance, students must:

  • Complete all required courses for a total of 48 credits. At least 48 credits must be taken at the Questrom School of Business. Note that 1-credit Curricular Practical Training (CPT) courses for international students cannot be used to satisfy degree requirements. PDP (physical education) courses also cannot be used to satisfy degree requirements.
  • Have a cumulative GPA of at least 2.70.
  • Have no  “I” grades or no “MG” grades.