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Academic Policies and Procedures

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All students in the Mathematical Finance Program (16643), whether degree or non-degree candidates or full-time or part-time students, are expected to comply with the Academic Policies and Procedures of the Graduate School–New Brunswick in addition to policies specified by the Mathematical Finance Program.

Graduate School–New Brunswick Academic Policies, Procedures, and Forms

All students should especially be aware of the following:


Students who expect to complete their degree requirements by the end of the current semester should consult the Graduate School–New Brunswick graduation information page and file an Application for the Degree of Master of Science form and supporting transcripts with the Mathematical Finance program office at least one month in advance of the graduate school deadline in order to receive their degree by the earliest possible graduation date.

Graduating students who would like to attend the commencement ceremony should consult the University Commencement or Graduate School–New Brunswick Commencement information pages. Whether or not you attend the ceremony, you must file an Application for a Graduate Diploma in advance of the Registrar's deadline in order to receive your degree certificate.

Mathematical Finance Program Policies and Procedures

In addition, students should be aware of policies and procedures specific to the program:

Academic Integrity and Policy on Violations

Please read our Academic Integrity Code carefully.

Balancing Study with Part or Full Time Employment

Please review our guidelines on maintaining realistic balance between the number of work and study hours per week.


All forms which require the approval and signature of the Mathematical Finance program director must be submitted at least two weeks in advance of the form filing deadline and one month in advance in the case of the degree application form or for any form filed outside the fall or spring academic semesters.

The student part of the form should be completely filled out (no blank or partially completed forms accepted) and accompanied by copies of all supporting documents (for example, transcripts). Forms without supporting documents will not be processed. The student is solely responsible for collecting the completed and signed-off form from us and filing it with the appropriate university office.

Common Class Policies

Please see our common class policies which all MSMF course instructors follow unless students are advised otherwise.

Satisfactory Academic Progress, Probation, and Dismissal

Our master's degree program adheres to the guidelines for Academic Standing provided by the Graduate School–New Brunswick with regard to student annual review, academic probation, termination of studies, student appeals and complaints about grades.

Student progress towards the degree is normally reviewed each semester after the Fall or Spring grades are posted. The Mathematical Finance Program Director (or designate) may recommend that a student be placed on academic probation if he or she fails to maintain satisfactory academic or professional standards in any phase of their graduate studies.

The following are examples of conditions which usually indicate lack of satisfactory academic progress:
  • Earning a grade below B in more than 3 courses counting towards the degree,
  • Grade point average below B (3.0) for one academic year,
  • Excessive course withdrawals (W grades) after the normal course add/drop period,
  • Excessive incomplete (IN) grades,
  • Taking less than the normal minimum number of credit hours per semester,
  • Failure to make up incomplete grades,
  • Exceeding the time limit for completing the degree program: three (3) years for full-time students.

For a full-time degree student, nine (9) and, for a part-time degree student, six (6) are the minimum numbers of credit hours per semester; exceptions are made only if the student is (a) in his or her the final semester, or (b) waiting for a required course or for a course approved by the Mathematical Finance Program Director as essential for the student's specialization, or (c) working full time (40 or more hours per week). No degree student may take less then 3 credit hours per semester without the prior permission of the Mathematical Finance Program Director.

In the case of unsatisfactory academic progress, the Mathematical Finance Program Director (or designate) will notify the student in writing, reminding him or her of the applicable program or graduate school rules, describe the concerns, list the proposed actions the student will need to take, and give the student a probationary period of one (1) semester to remedy the academic deficiencies. The warning may specify particular problems that must be corrected to avoid dismissal and may require a meeting with the Mathematical Finance Program Director (or designate) and/or a written response before a hold on registration for the next semester is lifted. (In cases of extremely poor performance, the program may determine that a probationary period is not justified and may move directly to a recommendation for dismissal.)

If the student fails to remedy the lack of progress by the end of the probationary period, then he or she may be subject to the Termination of Studies procedure of the Graduate School–New Brunswick.


Our program takes academic integrity seriously. We follow the Graduate School-New Brunswick Academic Integrity Policy and Rutgers University Academic Integrity Policy in setting ethical standards for completion of homework assignments and projects, and taking exams. The overwhelming majority of students adhere to these codes of good behavior without requiring a reminder.

Academic Integrity Code

Student Responsibility

You are responsible for reading and understanding our academic integrity code; we encourage you to review a pdf presentation (376 KB) (pdf) which highlights the main points. Sanctions for violations – even first-time violations – can include a zero grade for the assignment, a failing grade for the course, notification of the Dean of the Graduate School-New Brunswick (or dean for your unit), suspension or expulsion, exclusion from our résumé book sent twice-yearly to prospective employers, and exclusion from current or future referrals for internship or employment opportunities.

In the financial securities industry, despite popular misconceptions, there is no tolerance for dishonesty of any kind and penalties for violations of corporate codes of conduct are severe. Do not jeopardize your future career by taking a chance that you will not be caught cheating.

Homework Assignments and Projects

Your instructor will provide guidelines for his or her course indicating whether you can collaborate on homework assignments or projects. Unless your instructor explicitly tells you otherwise, you should assume that no collaboration is allowed and that all submitted assignments or projects should represent your sole individual effort. If you are in any doubt, ask your instructor for guidance.

Many of the homework assignments in our courses involve computer programming. Although computer code is easily copied, please be aware that copying is detectable and that all submitted code is subject to screening for evidence of duplication. We require our students to follow the Department of Computer Science Academic Integrity Policy and, in particular, their Policy for Programming Assignments.


Please take note of the policy on examinations, which is in accord with that enforced by the Department of Computer Science and other units:

Students should not obtain or provide unauthorized help on examinations. The following rules are intended to help maintain an environment where this principle is maintained:

  1. Students will not be admitted to an exam without a valid photo ID.
  2. Students must sit in their assigned seats, and must answer questions in the examination copy given to them.
  3. Electronic devices, such as mobile phones, calculators, PDAs, Blackberries, laptops are not allowed in the examination.
  4. Bags, backpacks, coats, etc. must be left outside the exam room, or must be stored in the front of the exam room. Similarly for books and notes, unless explicitly stated otherwise.
  5. Students will be required to sign an attendance sheet.
  6. Students may not open their exam until instructed to do so, and must stop writing as soon as instructed to do so.
  7. Talking during an exam is prohibited.
  8. Beginning 10 minutes from the end of the exam period, students must remain in their seats until all exams have been collected by the proctors.

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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)
Phone: +1.848.445.3920
Fax: +1.732.445.5530