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Masters in Financial Mathematics (MFM) Presenter Dr. Paul W. Eloe Chair, Department of Mathematics

Masters in Financial Mathematics (MFM) Presenter Dr. Paul W. Eloe Chair, Department of Mathematics Date: April 11, 2007. Overview of Curriculum. Core Courses in Mathematics (6 courses) Analysis, Ito Calculus, Stochastic Processes Financial Mathematics Statistics and Time Series

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Masters in Financial Mathematics (MFM) Presenter Dr. Paul W. Eloe Chair, Department of Mathematics

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  1. Masters in Financial Mathematics (MFM) Presenter Dr. Paul W. Eloe Chair, Department of Mathematics Date: April 11, 2007

  2. Overview of Curriculum • Core Courses in Mathematics (6 courses) • Analysis, Ito Calculus, Stochastic Processes • Financial Mathematics • Statistics and Time Series • Numerical Analysis, Stochastic Numerical Methods and Computational Finance • Core Courses in Finance (2 courses) • Financial Analysis and Markets • Financial Derivatives and Risk Management • Electives (2 courses) • MBA 625, MBA 628 • Capstone Research Experience (Mathematics Clinic) • Professional Development (Internships)- in progress

  3. Plus Components • MBA Finance Courses; • Research Component: advisors from mathematics, finance, business; • Opportunity to take a course next year that simulates live trading; • Annual Career Fair hosted by IAFE and SIAM in New York City, recruiting for internships, jobs; • Original plan had so much more

  4. Up sides to program • “terminal” masters degree helps recruitment: numbers, quality of applicants, students willing to finance their own masters program; • Faculty interaction between finance and mathematics, completely new collaborations at UD; • Faculty collaboration with corporate partners, completely new collaborations at UD; • Direct contact with business partners, advisory board members (need more events where regular faculty meet these business partners); • Regional impact.

  5. Demanding sides to program • High maintenance: sustainability, champion, administration across units, financial commitment from university to support masters programs, recruitment, placement, advisory board, multiple variations (2 year program, 12 month program, certificate programs), developing National PSM Association; • Tough curricular demands in 30-33 credit hour program: rigorous academics, plus courses or components.

  6. Future Developments • Ethics, Economics, Accounting, Writing; • Incoming student (practicing lawyer) who deals with legal aspects in investment; • Help with the interview process for placement of graduates; • Initial corporate contact is fun and easy, convert corporate interest to resources (internships, tuition for employees, etc.); • Build certificate programs, tie into MBA finance certificate; • Build ties with management science; • Advise appropriately with respect to professional testing (SOA, CFA, GARP).

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