At Johns Hopkins, Financial Mathematics continues a rich engineering tradition whereby the strengths of the faculty in research, education, and leadership are applied to expand knowledge and apply new knowledge for the benefit of humanity by addressing the complex problems of modern society. Understanding and navigating today’s rapidly evolving, world-wide economic and financial landscape presents one of society’s most challenging current problems.
The Field of Financial Mathematics
Financial Mathematics (commonly described using an array of roughly synonymous alternative titles including Financial Engineering, Computational Finance, Mathematical Finance, and Quantitative Finance) is an engineering discipline fundamentally enabled by the intellectual pursuits spanned by the faculty of Applied Mathematics and Statistics (AMS): probability, statistics, optimization, partial differential equations and scientific computing.
The unifying premise for Financial Mathematics is more than just a collection of techniques applied to a common problem area. Rather, it quantifies and enables much of the modern interplay in global markets among companies, investors, and financial agents; constrained or constructed by the actions of central banks, regulators and governments. Global financial agents, which include broker-dealers on Wall Street, in London, Hong Kong and elsewhere, create and package (or repackage) capital products and services into the instruments that are so vital to the course of world-wide capital allocation, investment, and risk transfer. None of this could occur today without the sophisticated approaches enabled by financial mathematics which have evolved over the past 25 years.
A Culture of Collaboration
Because of a strong university-wide commitment to collaboration, we benefit from scholarship from across the university, and particularly in the areas of business, finance, economics, computing, and management in the Carey Business School and from the Department of Economics in the Krieger School of Arts and Sciences, as well as from the other departments and programs in the Whiting School of Engineering.
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