Mathematical Finance

Program Overview

In the 12-month Master of Mathematical Finance (MMF) program, students’ superior math skills are focused on the tools of financial mathematics for an initial four-month period. Students then move immediately into an internship with a firm. Afterwards, students will continue their coursework for the remainder of the school year.


Quick Facts

Domestic International
Application payment deadline MMF:

13-Dec-2019

MMF:

13-Dec-2019

Supporting documents deadline MMF:

13-Dec-2019

MMF:

13-Dec-2019

Minimum admission average MMF:

mid-B standing in the final two years

MMF:

mid-B standing in the final two years

Program length (full-time only) MMF:

3 sessions

MMF:

3 sessions


​Master of Mathematical Finance​

Program Description

In the MMF program, students reshape their existing analytical abilities with the help of senior academics in mathematics, computer science, statistics, and engineering who have experience with the tools of mathematical finance. This cross-disciplinary approach develops graduates with a richer, more innovative approach to applied mathematics in real-world situations. Some of the faculty are seasoned practitioners from the financial industry while others are from leading firms in the financial software industry, developing applications around requirements like risk management, portfolio analysis, and the pricing of advanced derivatives.

The heart of the program is the four-month internship or campus project. Working on real financial projects, students learn to integrate and apply theoretical knowledge gained earlier in the program. In the internship, students team with employees of the sponsoring firm to experience how financial mathematics impacts the decision-making processes of a financial services organization.

Minimum Admission Requirements

  • Applicants are admitted under the General Regulations of the School of Graduate Studies. Applicants must also satisfy the graduate unit's additional admission requirements stated below.

  • Applicants must have an appropriate bachelor's degree in a quantitative, technical discipline with a minimum of a mid-B standing in the final two years.

  • Applicants whose primary language is not English and who graduated from a university where the language of instruction was not English must demonstrate proficiency in the English language through the successful completion of the Test of English as a Foreign Language (TOEFL) with minimum scores as follows:

    • paper-based TOEFL exam: 580 and 5 on the Test of Written English (TWE)

    • Internet-based TOEFL exam: 93/120 and 22/30 on the writing and speaking sections

  • ​​Applicants must also show evidence of strong mathematical ability. Appropriate workplace experience will be considered in lieu of formal education.

  • Admission to the program is competitive. Those accepted into the program will normally have achieved a standing considerably higher than the minimum mid-B standing or have demonstrated exceptional ability through appropriate workplace experience.

  • Applicants must satisfy the Admissions Committee of their ability to do rigorous quantitative analysis at an advanced level. The broad background required for this program makes it likely that many strong applicants will not possess all the background requirements. It is expected that applicants will have extra depth in certain areas and need to do additional work in others. Admission may be conditional upon the applicant's satisfactory completion of the required background material.

  • Applicants should submit a written statement of approximately 300 words outlining their objectives for entering the program. Applicants should also explain how their background is appropriate. An interview may be required.

  • Inquiries about part-time options for the program should be addressed to the Program Director.

Program Requirements

  • The program of study begins in mid-August and includes a four-month internship during the second session. Students will be responsible for obtaining their own internship. In cases where the student is taking a leave of absence from an appropriate job, it is expected that the student will return to this job for the internship. In all cases, the Director must approve the placement.

  • Students will proceed through the program as a group, following a common course of study. The course of study will be fully integrated and computer-laboratory intensive. Course projects and assignments will be designed to integrate the material learned from a variety of the courses and to utilize it in a practical context. Excellent communication and presentation skills will be emphasized in both the oral and written components of the projects.

  • Students must complete all courses listed below.

Program Length

3 sessions full-time (typical registration sequence: F/W/S)

Time Limit​

3 years full-time

Seshu Iyengar

“Beyond the financial stability, being nominated for and receiving this award was an honour which gave me the confidence in my ability to be a graduate students; the Naylor Fellowship demonstrates a strong belief in the contributions Atlantic Canadians can make in academic research.”

Seshu Iyengar
PhD Student, Physics, David Naylor Fellow
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