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Learning Goals and Assessment

This an applied mathematics graduate program which trains Master of Science in Mathematics students to become exceptional quantitative analysts who combine the two critical skill sets so much in demand by today's financial industry - an in-depth theoretical foundation in the required mathematical, statistical, and computer sciences and a practical knowledge of the world of finance. Graduates of the program are ready to make immediate contributions to employers at hedge fund companies, asset and risk management firms, investment banks, insurance companies, rating agencies, energy trading firms, and an expanding network of businesses that rely on advanced financial engineering methods.

Learning Goal 1 for Students: Become proficient in the core methods of mathematical finance and one or more elective specialties

Assessment of student achievement of Goal 1:

  • Grades in graduate courses
  • Review by faculty of student progress with close advising and mentoring
  • Examinations assessing depth and breadth of knowledge
  • Assessment of student's performance by committee of graduate faculty members
  • Continuation of graduate studies or placement in a professional position that requires a high level of understanding of coursework and participation in our professional development program.

Roles of the program in helping students to achieve Goal 1:

  • Close advising to assure that students are being prepared in a coherent and academically rigorous way
  • Effective monitoring of student progress
  • Evaluations of teaching effectiveness of instructors in graduate courses
  • If effectiveness is below expectations, work with instructors to improve effectiveness
  • Periodic review of curricular offerings, degree requirements and assessment tools by program faculty and in consultation with the office of the dean of the graduate school and/or the unit dean

Learning Goal 2 for Students: Complete a Master's degree essay

Assessment of graduate student achievement of Goal 2:

  • Assessment of quality of Master's essay by a (i) classroom presentation and (ii) critical reading of the essay by a committee of faculty members
  • Achievement of students as evidenced by continuation of graduate studies and professional placement

Role of the program in helping graduate students to achieve Goal 2:

  • Provide early introduction to technical report writing and opportunities for research
  • Provide opportunities to give technical presentations and receive feedback
  • Provide a directed research experience comparable to a summer internship project
  • Provide experience in technical project planning

Learning Goal 3 for Students: Prepare to be professionals in mathematical finance

Assessment of graduate student achievement of Goal 3:

  • Participation in internships and other work tailored to career goals, assessed accordingly
  • Collection of data on professional placement data or continuation of graduate studies
  • Review by external advisory committees, both inside of and external to the academy
  • Achievement of students as evidenced by continuation of graduate studies and professional placement

Role of the program in helping students achieve Goal 3:

  • Host biweekly professional development workshops
  • Host weekly corporate speaker and corporate and alumni networking events
  • Develop internship opportunities
  • Host external advisory committees

The Director of the mathematical finance graduate program will regularly review the structure and content of the program and the feedback received from external assessments by our Advisory Board, industry practitioners, graduate student surveys, and professional organizations such as the International Association for Financial Engineers and the Global Association for Risk Professionals. These reviews will be used to provide the best possible education to students that meet current needs for professionals in mathematical finance.

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HillCenter

Mathematical Finance Master's Program

Department of Mathematics, Hill 348
Hill Center for Mathematical Sciences
Rutgers, The State University of New Jersey
110 Frelinghuysen Road
Piscataway, NJ 08854-8019

Email: finmath (at) rci.rutgers.edu
Phone: +1.848.445.3920
Fax: +1.732.445.5530