Graduate Certificate in Mathematical Finance

Open to all MS and PhD students except the traditional MS in Statistics 

Admission for Certificate Requirements

Students enrolled in a Ph.D. or M.S. degree program who have completed their first year with a GPA of 3.0 or higher, continue to maintain that GPA, and have taken the prerequisite courses will be eligible to earn the Certificate in Mathematical Finance. Most students who wish to earn the certificate would be able complete the additional requirements in one further semester. Students would be required to complete the five courses designated for the certificate with grade B or higher.

Prerequisites required for MSMF courses, are namely one- semester courses on

• Multivariable calculus
• Linear algebra
• Ordinary differential equations
• Partial differential equations
• Probability (calculus-based)
• Computer programming (one or more of C, C++, Java, MATLAB, Python, R)

These prerequisite courses are typically taken by undergraduate students in Computer Science, Economics, Engineering, Mathematics, Physics, and Statistics prior to admission to Rutgers.

 

Menu of Courses and Certificate Requirements

Any of the five required courses in MSMF program, or equivalent courses (approved by the managing committee). Three of the five are in addition to the courses required by the Ph.D. and M.S. degree programs in which the students are currently enrolled. There are no restrictions on which two courses may be double counted as part of a student’s master’s degree program in their major field and the Mathematical Finance Certificate.The prerequisites and syllabi of all courses are determined by the graduate programs offering those courses.

 

Sample Pathways

The current list of MSMF core and elective courses (including those offered by other graduate programs by agreement) available to students from other graduate programs who wish to complete our certificate is provided at: https://finmath.rutgers.edu/academics-finmath/finmath-courses

Below are sample pathways for students from 10 and 12 course master’s degree programs who wish to complete our certificate

Two-year 4-3-3-3 sample pathway for certificate plus ten-course master’s degree program

1. Fall I - 4 MS major courses
2. Spring I - 3 MS major courses
3. Fall Il -1 MS major course, 1 shared MS major / MF certificate course, and 1 MF certificate course: Math 643:573 Numerical Analysis I*, Math 643:621 Mathematical Finance I
4. Spring Il - 1 shared MS major / MF certificate course and 2 MF certificate courses: Math 643:574 Numerical Analysis II*, Math 643:622 Mathematical Finance Il, Math 643:623 Computational Finance

*The two courses italicized in this sample pathway are shared between the MS major degree program and the MF certificate program.

Two-year 4-4-4-3 sample pathway for certificate plus twelve-course master’s degree program

1. Fall I - 4 MS major courses
2. Spring I - 4 MS major courses
3. Fall II - 2 MS major courses, 1 shared MS major / MF certificate course, and 1 MF certificate course: Math 643:573 Numerical Analysis I*, Math 643:621 Mathematical Finance
4. Spring II - 1 shared MS major / MF certificate course and 2 MF certificate courses: Math 643-574 Numerical Analysis II*, Math 643:622 Mathematical Finance Il, Math 643:623 Computational Finance 

*The two courses italicized in this sample pathway are shared between the MS major degree program and the MF certificate program. 

The preceding sample pathways can naturally be customized according to the background of individual students and MSMF faculty members will be available to provide this advice. Ph.D. students have considerably more flexibility in their course schedules, so we do not provide sample pathways for them.