Program Requirements
The Masters in Mathematical Finance is a professional master’s degree, so a thesis is not required. You will take eight core courses and choose four electives. These electives include one mathematics courses and three financial markets or finance courses. In order to earn a degree, you need to complete a minimum of 21.6 quarter credits (18 semester credits). Note: Credits are measured in terms of both semester and quarter credits because IIT Stuart is on the quarter system whereas IIT operates on semesters. 3.6 quarter credits are equivalent to 2.4 semester credits.
Core courses:
- MSF 571 Computational Finance I
- MSF 572 Computational Finance II
- MSF 551 Futures, Options and OTC Derivatives
- MATH 542 Stochastic Processes
- MATH 548 Mathematical Finance I: Discrete Time
- MATH 565 Monte Carlo Methods in Finance
- MATH 582 Mathematical Finance II: Continuous Time
- MATH 586 Theory and Practice of Fixed Income Modeling
View core course descriptions
Electives: You will choose at least one course from the Mathematics curriculum and at least three courses from the Finance and/or Financial Markets courses. You must earn a total of 10.8 quarter credits/3 semester credits for electives.
Choose a minimum of ONE elective from the following Applied Mathematics courses:
- MATH 512 Partial Differential Equations
- MATH 513 PDEs for Finance
- MATH 543 Stochastic Analysis
- MATH 544 Stochastic Dynamics
- MATH 583 Quantitative Modeling of Derivative Securities
- MATH 584 Mathematical Portfolio and Investment Theory
- MATH 587 Theory and Practice of Modeling Credit Risk and Credit Derivatives
- MATH 589 Numerical Methods for PDEs
- CS 522 Data Mining
Choose a minimum of three electives from the following Finance and Financial Markets courses:
