Curriculum

Designed for students with very strong quantitative backgrounds, this interdisciplinary program offers rigorous study in the application of the financial, mathematical, and computer science skills to understand, manipulate, and solve new and emerging financial models and determine solutions to complex financial problems.

In addition to advanced coursework across the disciplines of finance/economics, mathematics and computer science, the program culminates with a Quantitative Finance Capstone and comprehensive examination. Through these, students express their understanding of the models and theories and apply the appropriate tools and techniques to solve their particular research question.

Core Courses

The Master of Science in Quantitative Finance program consists of 30 credit hours of graduate coursework as outlined below:

  1. Algorithms
  2. Derivatives II
  3. Expert Systems
  4. Fixed Income
  5. Numerical Methods I
  6. Numerical Methods II
  7. Partial Differential Equations
  8. Quantitative Methods in Finance
  9. Quantitative Finance Capstone
  10. Uncertainty Analysis and Measurement

Topics in Quantitative Finance and Readings in Quantitative Finance are also offered as independent study opportunities.

Suggested MSQF Course Track—Spring/Summer

SpringMay 2 InterimSummer I InterimSummer II Interim
MTH 510/CS 510
Numerical
Methods I
FIN 639
Uncertainty Analysis
and Measurement
CIS 514
Algorithms
CIS 588
Expert Systems

Suggested MSQF Course Track—Fall

Fall 1Fall 2Spring 1Spring 2
FIN 636
Fixed Income
FIN 633
Quantitative Methods
in Finance
FIN 637
Derivatives II
FIN 649
Quantitative Finance
Capstone
MTH 511/CS 511
Numerical Methods II
 
MTH 514
Partial Differential Equations

Foundational Courses

Because of the rigorous and interdisciplinary nature of the program, your educational background and current level of knowledge must be assessed to determine if you are sufficiently prepared for immediate entry into the program. If it is determined that foundational coursework is needed, a course of study will be created to prepare you for the advanced material contained in the program.

Based on your transcript, resume, and interview, the Admissions committee will evaluate your ability to demonstrate advanced knowledge and proficiency in the following areas:

Calculus: topics in analytic geometry, limits, continuity, differentiation, calculus of logarithmic, exponential and trigonometric functions, integration, indeterminate forms, improper integrals, infinite series, calculus of functions of several variables, multiple integrals, vector calculus;

Linear Algebra: matrix algebra, determinants, simultaneous equations, vector spaces, bases Gram-Schmidt orthogonalization, eigenvalues, eigenvectors, transformations, and applications;

Ordinary Differential Equations: existence and uniqueness theorems, solution methods for initial and boundary value problems, linear and nonlinear systems, stability theory, difference equations;

Probability: continuous and discrete distributions, multivariate distributions and their moments; independence, ordinary and conditional expectations, Central Limit Theorem;

Statistics: statistical concepts, theory, and applications: random variables, sampling, theories of estimation and testing of hypotheses, linear models, and nonparametric methods, regression analysis including detection of and solutions to various violations of classic regression assumptions (heteroskedasticity, autocorrelation, multicollinearity and simulataneity);

Computer Programming: programming ability in a high-level language such as C, C++, Fortran (70 or 90/95) Basic, Visual Basic;

Economics: basic micro-and macroeconomic topics including supply and demand functions, market structure and the role of money;

Finance: Financial markets and institutions, fundamental and technical analysis, asset pricing (CAPM, APT), derivatives, financial research, and modeling.

Some foundational course requirements may be fulfilled with equivalent courses through your community college, often at a lower cost per credit hour. Students with an undergraduate mathematics or computer science degree from an AACSB accredited school are likely to have completed the majority of foundational course requirements.

If you are interested in determining your current prerequisite status, you may request an informal degree audit. To do so, please submit your request and unofficial transcript to Susannah Gawor, Director of MBA and Executive MBA Programs.

Please view the Graduate Catalog for a detailed list of the prerequisites and additional MSQF Program information.