In addition to all required degree-related courses and electives, ALL financial mathematics students are required to complete the following courses/training:

  • EN.553.847 Financial Mathematics Masters Seminar, each semester
  • EN.553.803 Computing requirement (Financial Computing Workshop) – offered during Intersession
  • Communication skills requirement (Communication Skills Practicum, which includes Fall/Spring courses)
  • Internship (typically done during summer after first year in residence)
  • Every student must complete training on the Responsible Conduct of Research
  • Every student must complete the University Orientation and Academic Ethics course

The Area of Focus Track can also be customized with advisor permission.

All students choosing this track must take the following:

Core financial mathematics requirements (2 courses)

  • EN.553.644 Introduction to Financial Derivatives
  • EN.553.645 Interest Rate and Credit Derivatives

Core applied mathematics requirements (3 courses)

  • EN.553.613 Applied Statistics and Data Analysis
  • EN.553.627 Stochastic Processes and Applications to Finance
  • EN.553.639 Time Series Analysis

Electives (7 courses)

Of the electives –

  • One elective must be in Applied Mathematics and Statistics
  • Two electives must be in Financial Mathematics
  • Four additional electives should be from the approved electives listing and can be Financial Mathematics, Applied Mathematics and Statistics or another approved elective.

Selection of electives must be done with advisor and Program Director approval. We have outlined suggested electives based on Financial Area of Focus that would align with the specific areas of interest. The courses denoted with an asterisk (*) would be a required course within the specified area of focus. Students are required to take a minimum of 2 Financial Mathematics electives and 1 Applied Mathematics and Statistics Elective. They could then chose the remaining 4 required electives from the list of approved electives. If a student wishes to have a course considered that is not on the approved elective lists they must submit the course details to their Faculty Advisor or the Academic Program Coordinator and the material will be reviewed and the committee will determine if the course could be used to satisfy the program requirements.

 

Approved Area of Focus courses

 

The program is designed to be completed by students in three semesters. It will begin with a late-summer orientation session and proceed through three successive semesters, utilizing the winter intersession of the first year and the summer prior to the last semester, for an internship with industry.  Students can opt to complete their degree requirements by following two various tracks.

All students choosing this track must take the following:

Core financial mathematics requirements (4 courses, 553.64X)

  • EN.553.642 Investment Science
  • EN.553.644 Introduction to Financial Derivatives
  • EN.553.645 Interest Rate and Credit Derivatives
  • EN.553.648 Financial Engineering and Structured Products or EN.553.646
  • Risk Measurement/Management in Financial Markets
  • Core applied mathematics requirements (5 courses, excludes 553.64X)
  • EN.553.627 Stochastic Processes and Applications to Finance
  • EN.553.633 Monte Carlo Methods
  • EN.553.613 Applied Statistics and Data Analysis
  • EN.553.639 Time Series Analysis
  • EN.553.661 Optimization in Finance

Electives (3 courses)

Of the electives –

  • One course in Applied Mathematics and Statistics
  • One course in Financial Mathematics
  • One additional course with prior program approval

Other Required Courses/Training:

  • EN.553.847 Financial Mathematics Masters Seminar
  • EN.553.803 Computing requirement (Financial Computing Workshop)
  • Communication skills requirement (Communication Skills Practicum, which includes Fall/Spring courses)
  • Internship (typically done during summer after first year in residence)
  • Every student must complete training on the Responsible Conduct of Research.
  • Every student must complete the University Orientation and Academic Ethics course.

THE LEGACY TRACK REQUIREMENTS WILL NORMALLY BE COMPLETED ACCORDING TO THE FOLLOWING SCHEDULE:

Prior to Fall Semester of Year I (2 weeks)

  • Orientation Program

Fall Semester of Year I

  • EN.553.627 Stochastic Processes and Applications to Finance
  • EN.553.633 Monte Carlo Methods
  • EN.553.642 Investment Science
  • EN.553.644 Introduction to Financial Derivatives
  • EN.553.847 Financial Mathematics Masters Seminar

Winter Intersession (2 weeks)

  • Financial Computing Workshop

Spring Semester of Year I

  • EN.553.639 Time Series Analysis
  • EN.553.645 Interest Rate and Credit Derivatives
  • EN.553.648 Financial Engineering and Structured Products (**optional, see below)
  • Elective 1
  • EN.553.847 Financial Mathematics Masters Seminar

Summer after Year I

  • Internship

Fall Semester of Year II

  • EN.553.613 Applied Statistics and Data Analysis
  • EN.553.646 Risk Measurement/Management in Financial Markets (**optional if EN.553.648 was already taken, see below)
  • EN.553.661 Optimization in Finance
  • Elective 2
  • Elective 3
  • EN.553.847 Financial Mathematics Masters Seminar

**Students must take either EN.553.646 or EN.553.648 to fulfill their core requirements. If both courses are taken, one of them can count as a Financial Mathematics Elective.

Orientation for new students is held during the 2 weeks prior to the start of classes.  Incoming students will receive email updates regarding the schedule.

Fall 2021 Incoming Students:  Orientation for Fall 2021 students will begin on August 18, 2021.  

Fall 2022 Incoming Students:  Dates TBA.

The internship should be at least two months in duration, and is typically completed during the summer following the first academic year, but it is also possible for a student to complete it during a fall or spring semester when they are on leave or in part-time status in the program. In any case, it must be completed before the student’s final semester of coursework. Note that in the special circumstance of students who start their program in the U.S. in the spring semester and plan to graduate after three semesters, those students would need to complete their internship in the summer following their spring arrival.

Additional information regarding the process and regulations governing CPT for international students can be found here:  https://ois.jhu.edu/Immigration_and_Visas/F1_Student/F-1_Training_and_Employment/Curricular_Practical_Training/

Required Intersession courses are held in January for 2 weeks prior to the start of the Spring semester. Information regarding registration for Intersession will be emailed to enrolled students.

The Financial Computing Workshop (EN.553.803) is held during Intersession.  All FM students are required to successfully complete this course.

An overall GPA of 3.0 must be maintained in courses used to meet the program requirements. At most two course grades of C or C+ are allowed to be used, and the rest of the course grades must be B- or better.