NORTH CAROLINA STATE UNIVERSITY · UNITED STATES
Master of Financial Mathematics
Master's · Taught in en
At a glance
24 mo
Duration
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IELTS
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Tuition / yr
en
Language
Master's
Level
- 36 credit hoursTotal Program Credit Hours
- Required Internship or ProjectPractical Experience
- Multiple Specialization TracksElective Focus Areas
- Interdisciplinary CurriculumCombines Math, Statistics, Economics, and Finance
The Master of Financial Mathematics (MR) program at NC State University is a rigorous, interdisciplinary graduate program designed to equip students with advanced analytical and quantitative skills for careers in the financial industry. This non-thesis master's degree focuses on the application of mathematical, statistical, and computational methods to solve complex problems in finance, such as derivative pricing, risk management, and portfolio optimization. The curriculum provides a strong foundation in core financial mathematics concepts, complemented by electives allowing students to specialize in areas like risk management, data science for finance, portfolio management, or actuarial science. The program emphasizes practical application through a required summer internship or project, preparing graduates for roles as quantitative analysts ('quants') or in related financial fields.
Curriculum
The Master of Financial Mathematics program requires 36 credit hours, including core courses, a summer internship or project, and elective courses. Students typically complete the program in two years.
- Year 1
- Options and Derivatives PricingFIM/ECG/MA/MBA 528
- Fundamentals of Statistical Inference IST 501
- Capital Investment Economic AnalysisISE 711
- Career Development for QuantsFIM 500
- Stochastic Calculus for FinanceMA 547
- Fundamentals of Statistical Inference IIST 502
- Monte Carlo Methods for Financial MathMA/FIM 548
- Seminar in Financial Mathematics 1FIM 601
- Computational Methods in Economics and FinanceECG 766
- Summer
- Internship in Financial MathematicsFIM 650
- Project in Financial MathematicsFIM 675
- Year 2
- Elective Courses
- Seminar in Financial Mathematics 1FIM 601
Careers
Graduates of the Master of Financial Mathematics program are well-prepared for a variety of quantitative roles in the financial services industry, including investment banking, asset management, hedge funds, insurance companies, and financial technology firms. The program's strong emphasis on analytical skills and practical application makes graduates highly sought after.
- Quantitative Analyst (Quant)
- Risk Manager
- Portfolio Manager
- Financial Engineer
- Data Scientist (Finance)
- Actuary
- Financial Modeler
Frequently asked questions
- What are the entry requirements for the Master of Financial Mathematics program?
- A bachelor's degree in a quantitative field like mathematics, statistics, computer science, economics, or engineering is typically required. Specific GPA requirements and prerequisite coursework details should be confirmed with the Graduate School admissions.
- How much does the Master of Financial Mathematics program cost for international students?
- Tuition and fees are subject to change. International students should consult the Graduate School for specific cost breakdowns, as current tuition and fee information is available on their website.
- How long does the Master of Financial Mathematics program take to complete?
- The program requires 36 credit hours and students typically complete it in two years, including a required summer internship or project.
- What are the career prospects after graduating from this program?
- Graduates are prepared for quantitative roles in the financial services industry, including Quantitative Analyst, Risk Manager, Portfolio Manager, Financial Engineer, and Data Scientist (Finance).
- How do I apply to the Master of Financial Mathematics program?
- Applications are submitted online through the NC State Graduate School admissions portal. You will need to complete the application form, submit transcripts, test scores, supporting documents, and letters of recommendation.
- Are there any scholarships available for international students in this program?
- The program does not list specific scholarships for international students. However, students are encouraged to explore Mathematics Department Scholarships and prestigious external awards.
Entry requirements
Bachelor's DegreeA bachelor's degree in a quantitative field such as mathematics, statistics, computer science, economics, engineering, or a related discipline is typically required for admission.
Specific GPA requirements and prerequisite coursework details should be confirmed with the Graduate School admissions.
Fees
Tuition (international)Please refer to the NC State Graduate School for current tuition and fee information for international students.
Tuition (home)Please refer to the NC State Graduate School for current tuition and fee information for domestic students.
LivingEstimated living costs for graduate students in Raleigh, NC can be found on the NC State Graduate School website.
Tuition and fees are subject to change. International students should consult the Graduate School for specific cost breakdowns.
How to apply
1. Create an Account and Start ApplicationVisit the NC State Graduate School admissions portal (applygrad.ncsu.edu) to create an account and begin the online application.
2. Complete the Application FormFill out all required sections of the online application, providing accurate personal, academic, and professional information.
3. Submit TranscriptsProvide official transcripts from all undergraduate and graduate institutions attended. Instructions for submission will be provided in the application portal.
4. Provide Test ScoresSubmit official GRE scores (if required) and English proficiency test scores (e.g., TOEFL, IELTS) for international applicants.
5. Upload Supporting DocumentsUpload a Statement of Purpose/Personal Essay, curriculum vitae (CV) or resume, and any other required documents as specified by the program.
6. Arrange for Letters of RecommendationRequest letters of recommendation from academic or professional references who can attest to your qualifications. Typically, 3 letters are required.
7. Pay Application FeeSubmit the non-refundable application fee online.
8. Submit ApplicationReview all information carefully and submit the completed application by the specified deadline.
Scholarships
Mathematics Department ScholarshipsVaries
Noyce Scholarships—
National Scholarships (e.g., Goldwater, Fulbright, Rhodes, Gates Cambridge, Churchill)—
Accreditation
North Carolina State University is accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
Frequently asked questions
What are the entry requirements for the Master of Financial Mathematics program?
+
A bachelor's degree in a quantitative field like mathematics, statistics, computer science, economics, or engineering is typically required. Specific GPA requirements and prerequisite coursework details should be confirmed with the Graduate School admissions.
How much does the Master of Financial Mathematics program cost for international students?
+
Tuition and fees are subject to change. International students should consult the Graduate School for specific cost breakdowns, as current tuition and fee information is available on their website.
How long does the Master of Financial Mathematics program take to complete?
+
The program requires 36 credit hours and students typically complete it in two years, including a required summer internship or project.
What are the career prospects after graduating from this program?
+
Graduates are prepared for quantitative roles in the financial services industry, including Quantitative Analyst, Risk Manager, Portfolio Manager, Financial Engineer, and Data Scientist (Finance).
How do I apply to the Master of Financial Mathematics program?
+
Applications are submitted online through the NC State Graduate School admissions portal. You will need to complete the application form, submit transcripts, test scores, supporting documents, and letters of recommendation.
Are there any scholarships available for international students in this program?
+
The program does not list specific scholarships for international students. However, students are encouraged to explore Mathematics Department Scholarships and prestigious external awards.