The Master of Science in Applied Financial Mathematics is a professional degree that focuses on rigorous mathematical modeling in finance, investment and risk management to prepare a graduate for analytic work across a wide spectrum of the financial services industry. It includes a practical component often fulfilled by an internship. The Master of Science in Applied Financial Mathematics with concentration in Actuarial Science includes a component of study directed towards actuarial science.

Applied Financial Math (MSAFM)

Students pass five core courses, MATH 5600, 5620, 5650, 5660 and one course from the following options: STAT 5361 or MATH 5637; pass at least two finance focused courses from ACCT 5327; FNCE 5202, 5504, 5512, 5532, 5533, 6201, 6203 and MATH 5661; pass at least six credits of practicum courses from GRAD 5900; MATH 5600, 5661, 5670, 5671 and 5850 with at least one of these credits in MATH 5850 for an internship. The remaining courses must be chosen from a list of elective courses approved by the department. In addition, the student is required either to pass an Exit Project or to pass two Society of Actuaries examinations. The format and structure of the exit project is determined by the student in collaboration with their advisor and must be approved by the advisor. The actuarial examinations may be passed prior to admission.

Applied Financial Math (MSAFM) with concentration in Actuarial Science. The MSAFM with concentration in Actuarial Science has the same requirements as the MSAFM degree except the student is only required to take one finance focused course and must take at least one advanced actuarial course from MATH 5630, 5631, 5637, 5638, 5639, 5640 and 5641.

The programs are offered by the College of Liberal Arts and Sciences.