### Home / LSA Students / Academics & Requirements / Majors & Minors / Mathematics / Major: Mathematics /

# Mathematics of Finance & Risk Management (Financial Mathematics) submajor

**Are you on track to graduate?**

*Use My LSA Audit Checklist *

to check your progress.

*Use My LSA Audit Checklist*

to check your progress.

to check your progress.

### Mathematics Major*The department offers many different programs with varying requirements: Pure Math; Mathematical Sciences;
Actuarial Mathematics; Mathematics of Finance and Risk Management; Honors; and Teaching Certification*

*Effective Winter 2014*

*May be elected as a departmental major*

**Prerequisites to the Major**

Most programs require completion of one of the sequences ending with MATH 215-217, 256-217, 285-217, or 395-396. A working knowledge of a high-level computer language such as C++ or a computer algebra system (such as Maple or Mathematica), at a level equivalent to completion of a course of three or more credits, and eight credits of PHYSICS, preferably PHYSICS 140/141 and 240/241, are recommended for all programs and required for some. (A grade of C- or better is strongly suggested for MATH 217.)

**Major GPA Calculation**

For purposes of calculating grade point average, the term "field of the major" means the following:

- All MATH courses.
- All courses used to meet requirements for the major.
- All required cognate courses (if any).
- All mandatory prerequisites.
- EECS 183
- ECON 101 and ECON 102 (actuarial mathematics submajor only).

**Requirements for the Major**

A student considering a major in Mathematics should consult a mathematics department advisor in the Undergraduate Mathematics Office as early as possible and certainly by the first term of the sophomore year. The department offers many different submajors with varying requirements; failure to meet some of these at the intended time may delay completion of the program and graduation. A plan for the major must be designed with and approved by a department advisor.

- Pure Mathematics
- Mathematical Sciences
- Actuarial Mathematics
- Mathematics of Finance and Risk Management
- Honors Mathematics
- Secondary Mathematics Teaching Certificate

Effective Winter 2014; retroactive to Fall 2013

The program in **Mathematics of Finance and Risk Management** (or **Financial Mathematics** for short) is designed to provide a broad education in the quantitative aspects of risk management and finance. Financial instruments which are engineered today require sophisticated mathematical techniques for their valuation. These techniques come from the fields of probability, statistics and differential equations.

**Prerequisites:** MATH 215&217, 255&217, 285&217 or MATH 295&296. Each student must also complete: ECON 101 and 102 and EECS 183 all elected on a graded basis. The grade for ECON 101, ECON 102, and EECS 183 will be included in the major GPA.

**Four basic courses**(one from each of the following four groups), completed with a grade of at least C-:*Differential Equations:*MATH 216, 256, 286, or 316*Probability:*MATH 425*Statistics:*STATS 426*Finance:*MATH 423

**Four special courses for Financial Mathematics:**

MATH 451, MATH 472 (or 471), MATH 525, MATH 526.- Two additional courses in areas relating toinancial Mathematics approved by an advisor.

### Actuarial Mathematics and Mathematics of Finance & Risk Management (W'10-F'13) +

### Actuarial Math. and Math. of Finance and Risk Management (Winter 2007-Fall 2009) +

### Actuarial Mathematics and Mathematics of Finance and Risk Management submajor (Fall 2005 through Fall 2006) +

### Actuarial Math. & Math. of Finance and Risk Management (Fall 2004-Summer 2005) +

### ActuarialMathematics/MathematicsofFinance&RiskManagement (through Summer 2004) +

# LSA Students

- Scholarships
- Undergraduate Application
- Academics & Requirements
- Academic Advising in the College
- Faculty and Their Specializations
- Transfer Information
- Study Abroad
- Internships
- International Internship Program
- Michigan Learning Communities
- Course Guide
- Graduation
- For Graduate Students
- Your Student Experience
- Sophomore Initiative