M.Sc Financial Mathematics, Master of Science in Financial Mathematics, Syllabus, Eligibility, Duration, Degree Course

Home Courses in India Commerce Courses Finance Courses M.Sc Financial Mathematics

Master of Science in Financial Mathematics

Duration

2 Years

Level

Post Graduation

Type

Degree

Eligibility

Graduation

M.Sc Financial Mathematics or Master of Science in Financial Mathematics is a Post-Graduate Finance course. Financial Mathematics is a field of applied mathematics, concerned with financial markets. The subject has a close relationship with the discipline of financial economics, which is concerned with much of the underlying theory. Generally, Financial Mathematics will derive and extend the mathematical or numerical models suggested by financial economics.

The duration of the Master of Science degree program in Financial Mathematics is mostly two academic years but it may vary from institute to institute and maybe on a part-time basis by certain institutes. The syllabus of the Master of Science course in Financial Mathematics is divided into four semesters.

M.Sc Financial Mathematics Eligibility

Aspiring candidates should have completed a B.Sc degree under any registered University with Mathematics as the main subject along with Physics, Electronics, Botany, Zoology, Chemistry, Biochemistry, Biotechnology, and Microbiology.
The marks of admission for this course may vary from University to University.
In various colleges and Universities, it conducts entrance exams plus interviews for admission.

M.Sc Financial Mathematics Syllabus

Syllabus of Financial Mathematics course as prescribed by various Universities and Colleges.

M.Sc Financial Mathematics Semester-I
Sr. No.	Subjects of Study
1	Differential Equations Applications of Linear Second-Order Differential Equations First Order Differential Equations Introduction to PDE Laplace Transforms Linear Second-Order Differential Equations Systems of Linear Differential Equations
2	Fundamentals of Statistics
3	Modeling and Simulation
4	Mathematical Methods in Finance
5	Multivariate Calculus and Mathematical Analysis Differentiation in Several Variables Line Integrals Multiple Integrations Maxima and Minima in Several Variables Surface Integrals Vectors Vector-Valued Functions
M.Sc Financial Mathematics Semester-II
1	C Programming/Mathematical Software Algorithms Mathematical Software
2	Economic Analysis and Principals of Financial Management Economic Analysis Principals of Financial Management
3	Numerical Techniques in Finance Lattice Methods Monte Carlo Methods Numerical Solutions of Parabolic PDEs Review of Continuous-Time Finance The Binomial Tree
4	Numerical and Combinatorial Optimization Dynamic programming and allocating investments Mar Kov chains and sequential decision making Networks and graph theory Linear programming and the simple method The theory of games Scheduling problems
5	Stochastic Calculus and Black-Scholes Theory Black-Scholes Theory Stochastic Calculus
6	Elective-I Applications of change of numeraire for option pricing Credit risk – probabilities of default Continuous-time limit of the binomial model Construction of martingale pricing measures by maximizing entropy Estimating Volatility Using ARCH Models Methods of designing pension schemes Optimal portfolios in the Heath-Jarrow-Morton model Stochastic differential delay equations in finance Valuation of companies using Real Options Coherent Risk Measures
M.Sc Financial Mathematics Semester-III
1	Discrete-Time Modelling and Derivative Security Derivative Securities Discrete-Time Modelling
2	Financial Risk Management
3	Modeling of Bonds, Term Structure, and Interest Rate Derivatives Bonds and Term Structure Interest Rate Derivatives
4	Portfolio Theory and Asset Allocation
5	Time Series Analysis
6	Elective-II Capital structure Copulas in finance Conditional Value at Risk Credit risk – reduced form approach Complete market models implied by call options Modeling credit risk – a structural approach Monte Carlo valuation of American-type derivative securities Optimal Investments Using Utility Functions Single-factor short-rate models
M.Sc Financial Mathematics Semester-IV
1	Mathematical Finance Dissertation
2	Project
3	Elective-III Arbitrage pricing of mortgage-backed securities Computer simulations of interest rate models Computer implementation of finite-difference option pricing schemes Implied volatility, volatility smile, stochastic volatility Microscopic simulation of the stock market Pricing weather derivatives by utility maximization Stochastic backward equations in finance The fundamental theorem of asset pricing and its extensions

M.Sc Financial Mathematics College

Maharaja Sayajirao University of Baroda, Baroda

M.Sc Financial Mathematics Course Suitability

The M.Sc course in Financial Mathematics is suitable for those who are willing to go for teaching fields at a higher degree level i.e., college and university levels both in private and government institutions.
They should have skills like analyzing and interpreting the resultant data, finding patterns, and drawing conclusions.
They also possess IT skills that are developed using computer applications to support the subjects they study.
They possess the ability to approach problems in an analytical and rigorous way and to formulate theories and apply them to solve problems.

How is the M.Sc Financial Mathematics Course Beneficial?

They can go for higher degree programs in respective subjects, e.g., a Ph.D. degree for further research studies.
They can have jobs in accountancy and business services, banking, investment and insurance, government and public administration.
They have a lot of jobs in the banking sector and in auditing areas.
They can also become teachers/lecturers in schools/colleges on a private basis and after passing certain qualifications can become permanent teachers.

M.Sc Financial Mathematics Employment Areas