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Field Description

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A student majoring in mathematics cannot declare a second major in statistics.

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mthlgs

Program Learning Goals

Upon completion of the two-year sequence in calculus, students will be able to:

...

  1. Solve differential equations using series expansions, Laplace transforms, and other standard techniques [differential equations];
  2. Enunciate properties and applications of Eulerian, Hamiltonian, connected, cyclic, acyclic, planar, traversable, and other types of graphs [graph theory];
  3. Approach combinatorics problems from two points of view which, when united, lead to solutions of problems in combinatorics using permutations, combinations, partitions, mathematical induction [combinatorics];
  4. Trace the historical development of mathematics from antiquity to the present, including contributions to that cumulative subject from various cultures and countries [history of mathematics];
  5. Stipulate properties and characteristics of whole numbers – divisibility, the division algorithm, Diophantine equations, unique factorization, the integers modulo n, Fermat’s theorem, Euler’s theorem, representation in different bases [theory of numbers];
  6. Write computer programs in a high-level programming language to solve mathematical problems and verify their correctness, and invoke techniques of object-oriented programming to represent objects and their behaviors in code [algorithms, computers, and programming class].

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mth major reqs
mth major reqs

Math Program Prerequisites

As a preliminary requirement, students must complete the calculus prerequisite, which may be achieved by any one of the six options.

Option 1:

 8 credits
 

Calculus AP Exam (BC) with a score of 4 or 5 (transfers to Baruch as 

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Calculus II)

4 credits
 And one of the following:  
 
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 Intermediate Calculus4 credits
 or  
 
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 Multi-Variable and Vector Calculus *4 credit
  or 
 Option 2: 12 credits
 

Calculus AP Exam (AB) with a score of 4 or 5 (transfers to Baruch as

Showcourse v
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Calculus I)

4 credits
and  
 
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Calculus I4 credits
 And one of the following:  
 
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Intermediate Calculus4 credits
or  
 
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Multi-Variable and Vector Calculus *4 credits
  or 
Option 3: 12 credits
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Calculus I4 credits
and  
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Calculus II4 credits
 And one of the following:  
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Intermediate Calculus4 credits
or 4 credits
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Multi-Variable and Vector Calculus * 
 or 
Option 4: 12-13 credits
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Applied Calculus

3 credits
or  
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Applied Calculus and Matrix Applications4 credits
And the following two courses:  
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Integral Calculus4 credits
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Analytic Geometry and Calculus II5 credits
 or 
Option 5: 12-13 credits

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DisciplineMTH

or

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Applied Calculus

3 credits
or  
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Applied Calculus and Matrix Applications4 credits
and  
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Integral Calculus4 credits
and  
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Infinite Series1 credit
And one of the following:  
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Intermediate Calculus4 credits
or  
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Multi-Variable and Vector Calculus *4 credits
 or 
Option 6: 10 credits
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Analytic Geometry and Calculus I

5 credits
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Analytic Geometry and Calculus II5 credits
   
 * MTH 3050 is not open to students who completed MTH 3020, MTH 3030, MTH 3035, or their equivalent. 
   

Required Courses

All students must take the following three courses:

  
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Algorithms, Computers and Programming I3 credits
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Mathematical Analysis I (formerly Advanced Calculus)3 credits
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Linear Algebra and Matrix Methods3 credits
 

Electives

Students must complete at least 15 elective credits from the following group of courses:
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Bridge to Higher Mathematics3 credits
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Proof Writing for Mathematical Analysis1 credit
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Topology3 credits
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Advanced Calculus II 3 credits 
showcourse

MTH 4110

Ordinary Differential Equations3 credits
showcourse

MTH 4120

Introduction to Probability **4 credits
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Numerical Methods for Differential Equations in Finance4 credits 
showcourse

MTH 4125

Introduction to Stochastic Process4 credits
showcourse

MTH 4130

Mathematics of Data Analysis (formerly Mathematics of Statistics)

4 credits
showcourse

MTH 4135

Computational Methods in Probability3 credits
showcourse

MTH 4140

Graph Theory3 credits
showcourse

MTH 4145

Mathematical Modeling * 3 credits
showcourse

MTH 4150

Combinatorics3 credits
showcourse

MTH 4200

Theory of Numbers3 credits
showcourse

MTH 4210

Elements of Modern Algebra3 credits
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Introduction to Modern Geometry3 credits
showcourse

MTH 4230

History of Mathematics3 credits
showcourse

MTH 4240

Differential Geometry * 3 credits
showcourse

MTH 4300

Algorithms, Computers and Programming II3 credits
showcourse

MTH 4310

Methods of Numerical Analysis3 credits
showcourse

MTH 4315

Introduction to Mathematical Logic3 credits
showcourse

MTH 4320

Fundamental Algorithms3 credits
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Actuarial Mathematics I4 credits
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Actuarial Mathematics II4 credits
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Mathematics of Inferential Statistics4 credits
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Short-Term Insurance Mathematics4 credits
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Short-Term Insurance Mathematics II4 credits
showcourse

MTH 4500

Introductory Financial Mathematics4 credits
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Data Analysis and Simulation for Financial Engineers4 credits
showcourse

MTH 5010

Advanced Calculus III *3 credits
showcourse

MTH 5020

Theory of Functions of a Complex Variable3 credits
showcourse

MTH 5030

Theory of Functions of Real Variables*3 credits
showcourse

MTH 5100

Partial Differential Equations and Boundary Value Problems*4 credits
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Stochastic Calculus for Finance

4 credits 

* These courses are offered infrequently, subject to student demand.

** Students may use the combination of

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and 
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in the place of
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as elective credit toward the major. MTH 4119 must be completed as an independent study (please consult the Department of Mathematics).

...

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actsciencelgs
actsciencelgs
 

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Program Learning Goals

Upon completion of the required core courses in actuarial mathematics, students will be able to:

  1. Examine and solve problems dealing with discrete and continuous probability distributions.
  2. Recognize when a specific probability distribution is applicable.
  3. Determine an appropriate distribution to model a specific scenario in a risk-management context.
  4. Compute equivalent interest and discount rates (both nominal and effective).
  5. Write an equation of value for a set of cash flows. Estimate effective compound yield rates for the set of cash flows using a simple interest approximation.
  6. Calculate present and future values for various types of annuities and perpetuities such as annuities-due, perpetuities-due, annuities-immediate, perpetuities-immediate, arithmetic or geometric annuities, and non-level annuities.
  7. Determine the payment amount for a loan with a specific repayment structure.
  8. Find the outstanding balance immediately after a payment on a loan.
  9. Calculate the amount of principal and amount of interest in a payment for an amortized loan.
  10. Perform an amortization on a coupon bond.
  11. Compute yield rates for a callable bond at each of the call dates.
  12. Calculate values, duration, and convexity for both zero-coupon bonds and coupon bonds.
  13. Use first-order approximation methods based on duration to estimate the change in present value of a portfolio based on changes in interest rates.
  14. Construct an investment portfolio to immunize a set of liability cash flows.
  15. Calculate minimal variance portfolios with and without constraints.
  16. Perform pricing and hedging of European and American type derivative securities in the context of one- and multi-period binomial models.
  17. Construct arguments based on the no-arbitrage principle, and devise arbitrage strategies when this principle is violated.
  18. Price European derivative securities in the context of the Black-Scholes model.
  19. Derive a put-call parity relation, and use it for pricing and hedging.

Upon completion of elective courses in actuarial mathematics, students will be able to:

  1. Find closed-form solutions to ordinary and partial differential equations derived from financial models.
  2. Derive the celebrated Black-Scholes formula by solving the Black-Scholes PDE.
  3. Compute values of European, American, and exotic options using finite difference numerical methods.
  4. Download options market data and use it as input for codes generating implied volatility surfaces.
  5. Describe and classify different kinds of short-term insurance coverage.
  6. Explain the role of rating factors and exposure in pricing short-term insurance.
  7. Create new families of distributions by applying the technique of multiplication by a constant, raising to a power, exponentiation, or mixing.
  8. Calculate various measures of tail weight and interpret the results to compare tail weights.
  9. Calculate risk measures, including Value at Risk and Tail Value at Risk, and explain their properties, uses, and limitations.
  10. Calculate premiums using the pure premium and loss ratio methods.
  11. Use Maximum Likelihood Estimation and Bayesian Estimation to estimate parameters for severity, frequency, and aggregate distributions for individual, grouped, truncated, or censored data.
  12. Use hypothesis tests (e.g., Chi-square goodness-of-fit, Kolmogorov-Smirnov, and likelihood ratio tests) and score-based approaches (e.g., the Schwarz-Bayesian Criterion, the Bayesian Information Criterion, and the Akaike Information Criterion) to perform model selection on a collection of data.
  13. Apply credibility models such as the Buhlmann and Buhlmann-Straub models, and explicate the relationship between these models and Bayesian models.
  14. Explain the concepts of random sampling, statistical inference and sampling distribution.
  15. State and use basic sampling distributions.
  16. Describe and apply the main methods of estimation including matching moments, percentile matching, and maximum likelihood.
  17. Describe and apply the main properties of estimators including bias, variance, mean squared error, consistency, efficiency, and UMVUE.
  18. Construct confidence intervals for unknown parameters, including the mean, differences of two means, variances, and proportions.
  19. Analyze data using basic statistical inference tools like confidence intervals and hypothesis testing for the population mean.
  20. Apply tools such as analysis of variance, tests of significance, residual analysis, model selection, and predication in both the simple and multiple regression models.
  21. Demonstrate proficiency in some basic programming skills in SAS and the time-series Forecasting interactive system. Perform time-series analysis using these tools.
  22. Identify patterns in data such as trend or seasonality. Incorporate these patterns into the time-series analysis of the data, and perform error analysis of the data.
  23. Explain K-means and hierarchical clustering, and interpret the results of a cluster analysis.

Common Objectives – Actuarial and Financial Mathematics

Upon completion of the required finance courses for the actuarial science and financial mathematics majors, students will be able to:

  1. Expound on the governance of corporations.
  2. Outline the operation of financial markets and institutions.
  3. Measure corporate performance.
  4. Analyze risk and return. Determine the opportunity cost of capital.
  5. Perform capital budgeting using various techniques.
  6. Compute the present and future values of investments with multiple cash flows.
  7. Describe the mechanisms that cause fluctuation of bond yields.
  8. Calculate internal rate of return.
  9. Perform and interpret scenario analysis for a proposed investment.
  10. Calculate financial break-even points.
  11. Determine relevant cash flows for a proposed project.
  12. Determine a firm’s overall cost of capital.

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actscience major reqs
actscience major reqs

Prerequisites

Based on placement, follow one of the following preliminary calculus options below:

Plus one of the following:NOTE* 3050 is not open to students who completed 3020,

Math Program Prerequisites

Based on placement, follow one of the following preliminary calculus options below:

Option 1:

 

8 credits

 

Calculus AP Exam (BC) with a score of 4 or 5 (transfers to Baruch as

Showcourse v
CourseNumber3010
DisciplineMTH
Calculus II)

4 credits

And one of the following:

 

Option 1:

 

8 credits

 

Calculus AP Exam (BC) with a score of 4 or 5 (transfers to Baruch as

Showcourse v
CourseNumber3010
DisciplineMTH
Calculus II)

4 credits

And one of the following:

 

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Intermediate Calculus

4 credits

or

 

 

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Multi-Variable and Vector Calculus *

4 credits

or

Option 2:

 

12 credits

 

Calculus AP Exam (AB) with a score of 4 or 5 (transfers to Baruch as

Showcourse v
CourseNumber2610
DisciplineMTH
Calculus I)

4 credits

and

 

 

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Calculus II

4 credits

And one of the following:

 

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Intermediate Calculus

4 credits

or

 

 

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Multi-Variable and Vector Calculus *

4 credits

or

Option 3:

 

12 credits

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Calculus I

4 credits

and

 

 

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Calculus II

4 credits

And one of the following:

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Intermediate Calculus

4 credits

or

 

 

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DisciplineMTH

Multi-Variable and Vector Calculus *

4 credits

or

Option 4:

 

12-13 credits

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/
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Applied Calculus

 

3 credits

or

 

 

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Applied Calculus and Matrix Applications

4 credits

And the following two courses:

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Integral Calculus

4 credits

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Analytic Geometry and Calculus II

5 credits

or

Option 5:

 

12-13 credits

Showcourse v
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/
Showcourse v
CourseNumber2206
DisciplineMTH

or

Showcourse v
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DisciplineMTH

Applied Calculus

 

Applied Calculus and Matrix Applications

3 credits

 

4 credits

And

 

 

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DisciplineMTH

and

Showcourse v
CourseNumber3007
DisciplineMTH

Integral Calculus

 

Infinite Series

4 credits

 

1 credit

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Intermediate Calculus

4 credits

or

 

 

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DisciplineMTH

Multi-Variable and Vector Calculus *

4 credits

or

Option 62:

 

10 12 credits

 

Calculus AP Exam (AB) with a score of 4 or 5 (transfers to Baruch as

Showcourse v
CourseNumber2610
Showcourse v
CourseNumber2630
DisciplineMTH
Analytic Geometry and Calculus I)

5 4 credits

and

 

 

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DisciplineMTH

Analytic Geometry and Calculus II

5 4 credits

And one of the following:

 

Showcourse v
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3020
DisciplineMTH

Intermediate Calculus

4 credits

or

 

 

Showcourse v
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3050
DisciplineMTH

Showcourse v
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,

Multi-Variable and Vector Calculus *

4 credits

or

Option 3:

 

12 credits

Showcourse v
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3035

2610
DisciplineMTH

, or their equivalents.

Calculus I

4 credits

and

 

Business Program Prerequisites

 

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DisciplineACC

Principles of Accounting

3 credits

 

 

 

MTH

Calculus II

4 credits

And one of the following:

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DisciplineBUS

Introduction to Business **

MTH

Intermediate Calculus

4 3 credits

or

 

 

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1011

3050
Discipline

BUS

Business Fundamentals: The Contemporary Business Landscape **

3 credits

MTH

Multi-Variable and Vector Calculus *

4 credits

or

Option 4:

 

12-13 credits

 

 

 

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DisciplineCIS

Introduction to Information Systems and Technologies **

MTH
/ 3 credits
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DisciplineECOMTH

Applied Calculus

 Micro-Economics

3 credits

showcourse-vor

CourseNumber1002
DisciplineECO

Macro-Economics

3 credits

 

 

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DisciplineSTA

Business Statistics I **

MTH

Applied Calculus and Matrix Applications

4 credits

And the following two courses:

3 credits

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3000
3006
Discipline
FIN

Principles of Finance

MTH

Integral Calculus

4 3 credits

Showcourse v
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DisciplineFIN

Corporate Finance

3 credits

 

MTH

Analytic Geometry and Calculus II

5 credits

or

Option 5:

 

12-13 credits

NOTES:

** Students who have completed

Showcourse v
CourseNumber

4120

2205
DisciplineMTH

or both

/

Showcourse v
CourseNumber

3120

2206
DisciplineMTH

and

or

Showcourse v
CourseNumber

4119

2207
DisciplineMTH

, may have the following

Applied Calculus

 

Applied Calculus and Matrix Applications

3 credits

 

4 credits

And

 

 

Showcourse v
CourseNumber

3000

3006
Discipline

FIN

MTH

prerequisites waived:

and

Showcourse v
CourseNumber

1000

3007
DisciplineMTH

Integral Calculus

 

Infinite Series

4 credits

 

1 credit

Plus one of the following:BUS/

Showcourse v
CourseNumber

1011

3020
DisciplineMTH

BUS

Intermediate Calculus

; 4 credits

Showcourse v
CourseNumber

2200

3050
Discipline

CIS

MTH

Multi-Variable and Vector Calculus *

4 credits

or

Option 6:

 

10 credits

; and

Showcourse v
CourseNumber

2000

2630
Discipline

STA. Please consult the Weissman Associate Dean’s Office (WSAS.AssocDean@baruch.cuny.edu; 646-312-3890; Vertical Campus, room 8-265) to request registration permission.

 

MTH

Analytic Geometry and Calculus I

5 credits

Required Courses

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DisciplineMTH

Algorithms, Computers, and Programming I

3 credits

Analytic Geometry and Calculus II

5 credits

NOTE:

*

Showcourse v
CourseNumber

4120

3050
DisciplineMTH

Introduction to Probability ***

4 credits

is not open to students who completed

Showcourse v
CourseNumber

4410

3020
DisciplineMTH

Theory of Interest

4 credits

 

Students must also complete three of the following five courses:

,

Showcourse v
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4420

3030
DisciplineMTH

Actuarial Mathematics I

4 credits

,

Showcourse v
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4421

3035
DisciplineMTH

Actuarial Mathematics II

4 credits

, or their equivalents.

 

Business Program Prerequisites

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Short-Term Mathematics

4 credits

ACC

Principles of Accounting

3 credits

 

 

 

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Short-Term Mathematics II

BUS

Introduction to Business **

3 credits

or

 

 4 credits

Showcourse v
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4500
1011
Discipline
MTH

Introductory Financial Mathematics

4 credits

*** Students who have completed
BUS

Business Fundamentals: The Contemporary Business Landscape **

3 credits

 

 

 

Showcourse v
CourseNumber

3120

2200
Discipline

MTH cannot enroll in

CIS

Introduction to Information Systems and Technologies **

3 credits

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CourseNumber

4120

1001
DisciplineECO

MTH. They must satisfy the probability requirement by registering for

Micro-Economics

3 credits

Showcourse v
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4119

1002
Discipline

MTH as an independent study (please consult the Department of Mathematics).

 

ECO

Macro-Economics

3 credits

Electives

In addition, one course must be chosen from the following list of electives:

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Numerical Methods for Differential Equations in Finance

STA

Business Statistics I **

3 4 credits

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DisciplineMTH

Introduction to Stochastic Processes

FIN

Principles of Finance

3 4 credits

Showcourse v
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Mathematics of Data Analysis (formerly Mathematics of Statistics)

4 credits

FIN

Corporate Finance

3 credits

 

NOTES:

** Students who have completed

Showcourse v
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4135

4120
DisciplineMTH

Computational Methods in Probability

3 credits

or both

Showcourse v
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4420

3120
DisciplineMTH

Actuarial Mathematics I

4 credits

and

Showcourse v
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44214 credits

4119
DisciplineMTH

Actuarial Mathematics II

, may have the following

Showcourse v
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4430

3000
Discipline

MTH

Mathematics of Inferential Statistics

4 credits

FIN
prerequisites waived:
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4451

1000
Discipline

MTH

Short-Term Mathematics

4 credits

BUS
/
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4452

1011
DisciplineBUS

MTH4 credits

;

45004 credits

Short-Term Mathematics II

Showcourse v
CourseNumber2200
DisciplineCIS
; and

Showcourse v
CourseNumber

2000
Discipline

MTH

Introductory Financial Mathematics

STA
. Please consult the Weissman Associate Dean’s Office (WSAS.AssocDean@baruch.cuny.edu; 646-312-3890; Vertical Campus, room 8-265) to request registration permission.

 

Required Courses

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DisciplineMTH

Data Analysis and Simulation for Financial Engineers

Algorithms, Computers, and Programming I

3 4 credits

Showcourse v
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5500
4120
DisciplineMTH

Stochastic Calculus for FinanceIntroduction to Probability ***

4 credits

 

 

 

The following courses are recommended, but not required. They are not applicable toward the major.

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DisciplineECO
 

Intermediate Micro-Economics

3 credits

Showcourse v
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Intermediate Macro-Economics

3 credits

...

Showcourse v
CourseNumber4410
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Theory of Interest

4 credits

 

Students must also complete three of the following five courses:

Showcourse v
CourseNumber4420
DisciplineMTH

Actuarial Mathematics I

4 credits

Showcourse v
CourseNumber4421
DisciplineMTH

Actuarial Mathematics II

4 credits

Showcourse v
CourseNumber4451
DisciplineMTH

Short-Term Mathematics

4 credits

Showcourse v
CourseNumber4452
DisciplineMTH

Short-Term Mathematics II

4 credits

Showcourse v
CourseNumber4500
DisciplineMTH

Introductory Financial Mathematics

4 credits

*** Students who have completed

Showcourse v
CourseNumber3120
DisciplineMTH
cannot enroll in
Showcourse v
CourseNumber4120
DisciplineMTH
. They must satisfy the probability requirement by registering for
Showcourse v
CourseNumber4119
DisciplineMTH
as an independent study (please consult the Department of Mathematics).

 

Electives

In addition, one course must be chosen from the following list of electives:

Showcourse v
CourseNumber4115
DisciplineMTH

Numerical Methods for Differential Equations in Finance

4 credits

Showcourse v
CourseNumber4125
DisciplineMTH

Introduction to Stochastic Processes

4 credits

Showcourse v
CourseNumber4130
DisciplineMTH

Mathematics of Data Analysis (formerly Mathematics of Statistics)

4 credits

Showcourse v
CourseNumber4135
DisciplineMTH

Computational Methods in Probability

3 credits

Showcourse v
CourseNumber4420
DisciplineMTH

Actuarial Mathematics I

4 credits

Showcourse v
CourseNumber4421
DisciplineMTH

Actuarial Mathematics II

4 credits

Showcourse v
CourseNumber4430
DisciplineMTH

Mathematics of Inferential Statistics

4 credits

Showcourse v
CourseNumber4451
DisciplineMTH

Short-Term Mathematics

4 credits

Showcourse v
CourseNumber4452
DisciplineMTH

Short-Term Mathematics II

4 credits

Showcourse v
CourseNumber4500
DisciplineMTH

Introductory Financial Mathematics

4 credits

Showcourse v
CourseNumber4600
DisciplineMTH

Data Analysis and Simulation for Financial Engineers

4 credits

Showcourse v
CourseNumber5500
DisciplineMTH

Stochastic Calculus for Finance

4 credits

 

 

 

The following courses are recommended, but not required. They are not applicable toward the major.

Showcourse v
CourseNumber3100
DisciplineECO
 

Intermediate Micro-Economics

3 credits

Showcourse v
CourseNumber3200
DisciplineECO

Intermediate Macro-Economics

3 credits

Anchor
financial mathematics
financial mathematics

Financial Mathematics

This major is first and foremost a course of study in mathematics, with a focus on the computational tools and techniques needed to thrive in the financial engineering industry. In today’s specialized world, a sophisticated level of mathematical understanding is an essential competitive edge. As this program includes courses in Economics and Finance, students who would usually not consider a traditional mathematics major will find this program especially attractive. Interested students are urged to contact the Department of Mathematics as early as possible.  The student will be assigned an advisor who will aid in formulating an appropriate course of study.

A student majoring in financial mathematics cannot minor in mathematics or declare a second major in statistics.

Anchor
finmthlgs
finmthlgs

Program Learning Goals

Upon completion of the major in Financial Mathematics, students will be able to:

  1. Perform linear algebraic calculations such as matrix multiplication and inversion, solving systems of linear equations, Gram-Schmidt orthogonalization, Cholesky decomposition, computation of eigenvalues and eigenvectors.
  2. Obtain exact and numerical solutions to differential equations arising in finance such as the Black-Scholes model and its corresponding partial differential equation.
  3. Compute implied asset price volatilities for European and American options from options market data.
  4. Compute empirical volatilities from asset price time series using GARCH-type models.
  5. Apply the fundamental notions of probability theory – including continuous and discrete random variables, expected value and variance, conditional expectation, multivariate distributions, the law of large numbers, the central limit theorem, and moment-generating functions – to settings in finance where randomness arises, such as in the modelling of asset prices and interest rates.
  6. Apply the basic properties of martingales.
  7. Calculate minimum variance portfolios in a Markowitz and CAPM setting.
  8. Calculate call and put stock option values using a binomial model.
  9. Calculate call and put option values using the Black-Scholes model.
  10. Compute expectation for random variables and probabilities of events pertaining to Brownian motion.
  11. Compute expectations of functions of Ito processes using the Ito formula.
  12. Apply stochastic calculus to financial situations.
  13. Apply the theory of Markov chains to appropriate settings. Examples include: the computation of invariant distributions, the implementation of the Hastings-Metropolis algorithm, and Gibbs sampling.
  14. Apply the theory of arrival processes to settings such as corporate default models.
  15. Apply the theory of Brownian motion and related continuous-time stochastic processes such as the Ornstein-Uhlenbeck process to model the evolution of correlated asset values over time as well as the evolution of the Treasury yield curve over time.
  16. Use tools of statistical inference in the context of financial data. These tools include Bayesian estimation, maximum likelihood estimation, multiple regression analysis, confidence intervals, the t- and F-distributions for determining statistical significance, and analysis of variance.
  17. Implement Black-Karasinski and Hull-White and related lattice-based interest rate models to value fixed-income derivative securities like options on bonds, interest rate swaps, caps, floors, and swaptions.
  18. Build simulative interest-rate models based on continuous-time stochastic processes to value fixed-income derivative securities.
  19. Build elementary computer programs in Python and C++ to simulate stochastic processes.
  20. Use these models to calculate a fixed-income security’s duration, convexity, and key-rate duration for hedging purposes.

Common Objectives – Actuarial and Financial Mathematics

Upon completion of the required finance courses for the actuarial science and financial mathematics majors, students will be able to:

  1. Expound on the governance of corporations.
  2. Outline the operation of financial markets and institutions.
  3. Measure corporate performance.
  4. Analyze risk and return. Determine the opportunity cost of capital.
  5. Perform capital budgeting using various techniques.
  6. Compute the present and future values of investments with multiple cash flows.
  7. Describe the mechanisms that cause fluctuation of bond yields.
  8. Calculate internal rate of return.
  9. Perform and interpret scenario analysis for a proposed investment.
  10. Calculate financial break-even points.
  11. Determine relevant cash flows for a proposed project.
  12. Determine a firm’s overall cost of capital.

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financial mth major reqs
financial mth major reqs

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Financial Mathematics

This major is first and foremost a course of study in mathematics, with a focus on the computational tools and techniques needed to thrive in the financial engineering industry. In today’s specialized world, a sophisticated level of mathematical understanding is an essential competitive edge. As this program includes courses in Economics and Finance, students who would usually not consider a traditional mathematics major will find this program especially attractive. Interested students are urged to contact the Department of Mathematics as early as possible.  The student will be assigned an advisor who will aid in formulating an appropriate course of study.

A student majoring in financial mathematics cannot minor in mathematics or declare a second major in statistics.

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NOTE: Depending on a student's starting mathematics proficiency, this program may require more than 120 credits to complete.

Mathematics Program Prerequisites:

As a preliminary requirement, students must complete the calculus requirement, which may be achieved by any one of the following six methods:

Option 1:

  
 Calculus AP Exam (BC) with a score of 4 or 5 (transfers to Baruch as
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8 credits

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Multi-Variable and Vector Calculus4 credits
 or 
Option 2:  

 

Calculus AP exam (AB) with a score of 4 or 5 (transfers to Baruch as
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4 credits
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Calculus II 4 credits
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Multi-Variable and Vector Calculus4 credits
 

 or

 
Option 3:  
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Calculus I4 credits
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Calculus II4 credits
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Multi-Variable and Vector Calculus4 credits
 or 
Option 4:  

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/
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Applied Calculus3 credits
or  
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Applied Calculus and Matrix Applications4 credits
and the following three courses:  
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Integral Calculus4 credits
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Analytic Geometry and Calculus II5 credits
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Vector Calculus *1 credit
 or 
Option 5:  
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Applied Calculus3 credits
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Applied Calculus and Matrix Applications4 credits
and the following three courses:  
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Integral Calculus4 credits
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Infinite Series1 credit
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Multi-Variable and Vector Calculus *4 credits
 or 
Option 6:  
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Analytic Geometry and Calculus I5 credits
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Analytic Geometry and Calculus II5 credits
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Vector Calculus *1 credit
   
Each option also requires:  
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*
Bridge to Higher Mathematics4 credits
  

* NOTES:

  1. At least an overall B+ average is required for the calculus courses preceding MTH 3020, MTH 3030 or MTH 3050 in each of the above options.
  2. MTH 3050 may be replaced with MTH 3020 and MTH 3035 in any of the above options.
  3. At least a B or better is required in: MTH 3050; or MTH 3020 and MTH 3035; or MTH 3030 and MTH 3035 as appropriate.
  4. To gain official admission to the program students must complete MTH 4000 with a minimum grade of B.
 

Business Program Prerequisites:

 

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Principles of Accounting 3 credits

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Micro-Economics3 credits
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Macro-Economics3 credits

BSFM students are not required to complete the following FIN 3000 course prerequisites: BUS 1000/1011; CIS 2200; and STA 2000. Please consult the Weissman Associate Dean's Office (WSAS.AssocDean@baruch.cuny.edu; 646-312-3890; VC 8-265) to request registration permission.


Required Finance Courses:

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Principles of Finance

3 credits
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Corporate Finance3 credits

Required Upper-level Mathematics Courses:

 
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Algorithms, Computers, and Programming I3 credits
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Linear Algebra 3 credits
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Numerical Methods for Differential Equations

4 credits

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Introduction to Probability *4 credits

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Introduction to Stochastic Processes4 credits

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Mathematics of Data Analysis (formerly Mathematics of Statistics)

4 credits

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Algorithms, Computers, and Programming II3 credits

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Introductory Financial Mathematics4 credits
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Data Analysis and Simulation for Financial Engineers4 credits

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Stochastic Calculus for Finance3 credits

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