Concentration Requirements
This concentration is a Mathematics Major that is attached to a Finance Minor. It includes courses that are relevant to contemporary financial mathematical modeling, along with courses in Finance and their prerequisites. The Finance Minor is designed to complement the mathematics coursework.
Open Electives
Open elective credit also is required to meet the minimum graduation requirement of 192 hours.
Finance Minor Requirements
Additional Recommended Courses
MAT 351
PROBABILITY AND STATISTICS I
Probability spaces, combinatorial probability methods, discrete and continuous random variables and distributions, moment generating functions, development and applications of the classical discrete and continuous distributions.
Prerequisites:
MAT 261 is a prerequisite for this class.MAT 352
PROBABILITY AND STATISTICS II
Joint probability distributions and correlation; law of large numbers and the central limit theorem; sampling distributions and theory of estimation.
Prerequisites:
MAT 351 is a prerequisite for this class.MAT 353
PROBABILITY AND STATISTICS III
Principles of hypothesis testing; most powerful tests and likelihood ratio tests; linear regression; one-way analysis of variance; categorical data analysis, nonparametric statistics.
Prerequisites:
MAT 352 is a prerequisite for this class.MAT 355
STOCHASTIC PROCESSES
Discrete Markov chains and random walks, birth and death processes, Poisson processes, queuing systems, and renewal processes. Cross-listed with MAT 455.
Prerequisites:
MAT 353 is a prerequisite for this class.MAT 368
MATHEMATICAL FINANCE
Financial derivatives, risk management, investment strategies, arbitrage, valuation, Put-call parity, the binomial model, option pricing, lognormal models for asset prices, Black-Scholes formula, value at risk and conditional tail expectation, Brownian motion and Ito's lemma, interest rate models. Cross-listed with MAT 468.
Prerequisites:
MAT 353 is a prerequisite for this class.MAT 304
DIFFERENTIAL EQUATIONS
Linear equations, systems with constant coefficients, series solutions, Laplace transforms, and applications. Formerly MAT 338. CO-REQUISITE(S): MAT 261.
Prerequisites:
MAT 261 is a corequisite for this class.MAT 385
NUMERICAL ANALYSIS I
Use of a digital computer for numerical computation. Error analysis, Gaussian elimination and Gauss-Seidel method, solution of non-linear equations, function evaluation, cubic splines, approximation of integrals and derivatives, Monte Carlo methods. Cross-listed with MAT 485.
Prerequisites:
(MAT 220 or MAT 262) and (MAT 149 or MAT 152 or MAT 162 or MAT 172) is a prerequisite for this class.ACC 101
INTRODUCTION TO ACCOUNTING I
Introduction to Accounting I, provides an introduction to financial accounting as the means of recording, storing and summarizing economic events of the business enterprise to meet external reporting needs. Emphasis is placed on the preparation and analysis of financial statements and other financial reports to the public based on the accounting equation, accrual accounting concepts, and data gathering techniques. Topics include corporate accounting for current and long term assets and current liabilities, and the corporate income statement.
Prerequisites:
MAT 130 is a prerequisite for this class.ACC 102
INTRODUCTION TO ACCOUNTING II
Introduction to Accounting II, a companion and sequel course to Accounting 101, continues to explore basic accounting fundamentals and concepts. The course provides an introduction to managerial accounting and internal reporting. Topics include financial accounting for long-term liabilities, the components of stockholders equity, the statement of cash flows, financial statement analysis, budgeting and variance analysis, job costing for the service sector and cost analysis for decision-making.
Prerequisites:
ACC 101 is a prerequisite for this class.ECO 105
PRINCIPLES OF MICROECONOMICS
Principles of Microeconomics. Basic theories of micro (or individual) economic units; the theory of consumer demand, the firm, and distribution; pricing and production in competitive, monopolistic and oligopolistic industries.
Prerequisites:
MAT 130 or equivalent is a prerequisite for this class.ECO 106
PRINCIPLES OF MACROECONOMICS
Principles of Macroeconomics. Fundamental theories of macro (or aggregate) economics: supply and demand, national income accounting and analysis, and international trade. Analysis of unemployment, and inflation, and policies designed to combat these and other current problems.
Prerequisites:
MAT 130 or equivalent is a prerequisite for this class.FIN 202
QUANTITATIVE REASONING
This course is designed to provide the students with an overview of basic statistical tools of financial analysis. Is a course designed to familiarize the students with the design and application of spreadsheet models for the analysis of financial data and tests of hypotheses.
Prerequisites:
FIN 310 is a prerequisite for this class.FIN 310
INTRODUCTION TO FINANCE
This course introduces students to the logic, principles, institutions, and terminology of finance. The goal of the course is to provide students with a basic understanding of the role of finance and its functions. It is designed to familiarize the students with tools necessary for making sound financial decisions, both at a personal level and at an enterprise level.
Prerequisites:
ACC 101, ACC 102, ECO 105, ECO 106 and (MAT 135, MAT 136 and MAT 137 or equivalents) are prerequisites for this class.FIN 311
CORPORATE FINANCE
The goal of the course is to provide students with the basic tools and theoretical background necessary to understand the corporate financial decision making process. Emphasis is on valuation principles with application to bonds, stocks, and capital budgeting as well as issues involving the capital structure, working capital, and dividend policy.
Prerequisites:
FIN 310 is a prerequisite for this class.FIN 320
MONEY AND BANKING
Study of money and banking as a means to understanding how operations of our financial institutions affect functioning of our economic system and evaluation of monetary policies and goals.
Prerequisites:
FIN 310 is a prerequisite for this class.FIN 330
INVESTMENTS: THEORY & PRACTICE
Investment principles and problems. Development of the student's perception of risks and opportunities in investment instruments and markets; description of the markets and their operations; effects of current financial events upon the various markets.
Prerequisites:
FIN 202 and 320 are a prerequisite for this class.FIN 313
INVESTMENT BANKING
This course is designed to provide students with a broad overview of investment banking, the structure of the industry, and analytical tools commonly used in the profession. Students who successfully complete the course will develop the skills necessary for an entry-level analyst position with an investment bank. Spreadsheet skills, valuation methods, company, deal and market analysis will be emphasized. The course will also foster the development of presentation and writing skills through group analysis and preparation of case studies.
Prerequisites:
FIN 310 is a prerequisite for this class.FIN 323
COMMERCIAL BANKING
The purpose of the course is to analyze the role of commercial banks in the financial system in order to understand the problems and issues confronting bankers now and in the future. The nature of the business of banking will be discussed with particular emphasis on bank mergers and acquisitions; competition from non-banking firms; understanding government policy and how that policy could influence the behavior of banks; measuring and evaluating bank performance; using asset and liability management techniques to gain a greater understanding of the risks that banks face and how they attempt to manage those risks.
Prerequisites:
FIN 320 is a prerequisite for this class.FIN 333
FINANCIAL STATEMENTS ANALYSIS
Corporate performance and its effects on outstanding securities. Evaluation and interpretation of financial soundness of an enterprise. Economic, management and corporate financial factors as they affect specific security issues.
Prerequisites:
FIN 311 is a prerequisite for this class.FIN 335
PORTFOLIO MANAGEMENT
Theories and techniques to achieve superior selection and management of securities portfolios. Review and evaluation of significant literature. Problems of timing and strategies in response to changing economic and financial conditions.
Prerequisites:
FIN 330 is a prerequisite for this class.FIN 340
INTERNATIONAL FINANCE
The objectives of this course include: understanding the effect of political and economic factors on the financial decision-making of the firm, determining the major factors influencing currency value; analyzing and managing the spectrum of risks arising from a firm's international operations; and acquiring knowledge of the international financial system and the major players in that system.
Prerequisites:
FIN 320 is a prerequisite for this class.FIN 362
RISK MANAGEMENT
Theories and techniques of risk management that employ statistical techniques which enhance risk decision-making. This course develops a framework of analysis that can be applied by corporate or investment risk managers.
Prerequisites:
FIN 320 is a prerequisite for this class.FIN 363
DERIVATIVES: PRICING & APPLICATIONS
This is an advanced course that focuses on the pricing models for the four derivative instruments: forwards, futures, options and swaps. The first part of the course is devoted to the two general classes of derivative pricing models: discrete time and continuous time, with each model's properties discussed in detail. These models are then applied to a range of realistic pricing situations which include swaps, exotic options and fixed income derivatives. The course concludes with a detailed examination of value at risk.
Prerequisites:
FIN 330 is a prerequisite for this class.FIN 380
CASES IN FINANCIAL DECISION MAKING
This is the capstone course for students majoring in Finance. The course applies the case study methodology to hone the student's analytical skills with applied finance issues, as well as to further develop verbal and written communication skills, the ability to work effectively within teams, as well reasoned debate. This course will provide students the opportunity to apply and integrate the knowledge acquired in their previous finance courses.
Prerequisites:
FIN 330, 333, 362 and (WRD 202 or equivalent) are a prerequisite for this class.FIN 393
FINANCE INTERNSHIP
An academically supervised working experience in a major financial institution. Registration in this program requires approval of the department internship director.
Prerequisites:
FIN 310 is a prerequisite for this class.FIN 395
INVESTMENT SEMINAR
Construction and management of an actual portfolio fund in a nine month seminar setting. Registration requires approval of the seminar director. By application.
Prerequisites:
FIN 320 and FIN 330 are a prerequisite for this class.FIN 398
SPECIAL TOPICS
Content and format of this course are variable. An in-depth study of current issues in finance. Subject matter will be indicated in class schedule.
Prerequisites:
FIN 310 is a prerequisite for this class.FIN 399
INDEPENDENT STUDY
Available to students of demonstrated capability for intensive independent work in finance.
Prerequisites:
At least 88 cumulative units is a prerequisite for Business courses that require Junior standing.MAT 341
STATISTICAL METHODS USING SAS
The SAS programming language. Data exploration, description and presentation. Inference based on continuous and categorical data. Analysis of variance models and regression procedures including logistic regression. Cross-listed with MAT 448.
MAT 370
ADVANCED LINEAR ALGEBRA
Vector spaces, basis and dimension; matrix representation of linear transformations and change of basis; diagonalization of linear operators; inner product spaces; diagonalization of symmetric linear operators, principal-axis theorem, and applications. Cross-listed MAT 470.
Prerequisites:
MAT 262 and (MAT 141 or MAT 215) are a prerequisite for this class.MAT 358
APPLIED TIME SERIES AND FORECASTING
Development of the Box-Jenkins methodology for the identification, estimation, and fitting of ARIMA, and transfer-function stochastic models for the purpose of analyzing and forecasting stationary, non-stationary, and seasonal time series data. The course emphasizes practical time-series data analysis using computer packages and includes applications to economic, business, and industrial forecasting. Cross-listed with MAT 512.
Prerequisites:
MAT 341 and MAT 353 are a prerequisite for this class.MAT 356
APPLIED REGRESSION ANALYSIS
Simple linear, multiple, polynomial and general regression models. Selection of best regression equation and examination of residuals for homoscedasticity and other diagnostic. Use of statistical software. Cross-listed with MAT 456.
Prerequisites:
MAT 353 and (MAT 220 or MAT 262) is a prerequisite for this class.