MS in Mathematical Finance
3-Semester/Full-time Program
Questrom School of Business
Programme Description
The MS in Mathematical Finance (MSMF) is a full-time, three-semester, 36-credit program with a common core during the first semester. In the two remaining semesters, students have the choice to concentrate in Asset Management, Quantitative Analytics, Risk Management, or Analytics & Research. MSMF students also have the option to graduate without choosing a concentration.
数学金融硕士（MSMF）是一个全日制、三学期、36学分的课程，在第一学期有一个共同的核心。在剩下的两个学期里，学生们可以选择专注于资产管理、定量分析、风险管理或分析与研究。MSMF学生也可以选择毕业而不选择集中注意力。
The MS in Mathematical Finance Program is focused on producing proficient quantitative experts along the following domains:
数学金融硕士课程的重点是培养精通以下领域的定量专家：
Computational expertise and data science
计算专长和数据科学
Financial econometrics and statistical expertise
金融计量学和统计专业知识
Stochastic mathematics
随机数学
Market structures and financial instruments
市场结构和金融工具
Risk management
风险管理
Derivatives
衍生品
Credit risk
信用风险
Portfolio theory and its implementation
投资组合理论及其实现
Academic Requirements
Requirements
- Online Application Form Online only 在线申请表格 仅在线
Application Fee ($125) Credit/debit cards only
- One Required Essay 一篇个人陈述
Upload in the “Documents” section of the “Program Materials” portion of the application. Online required
- Resume Current resume, as required in the “Experiences” section of the online application. Upload in the “Supporting Information” section of the online application. Online preferred/Email 简历
- Prerequisite Form 先修课程表格
Enter your prerequisite course information in the “Questions” section of the “Program Materials” portion of the application.
Online required
- Two Letters of Recommendation 两封推荐信
In the “Recommendations” section of the “Program Materials” portion of the application. Online preferred/Email
- University-Level Transcripts 大学级别成绩单
Transcripts for any coursework completed, including study abroad and post graduate work, in the “Academic History” portion of the application. Upload/Email
- GMAT Results or GRE Results GMAT/GRE成绩
We accept either GMAT or GRE score reports for applications to the MSMF program. BU’s GMAT codes vary by program, so please see the GMAT Code chart below for your degree. BU’s GRE code is 3087.GMAT and GRE test scores are valid for 5 years and you should upload an unofficial copy with your online application. You can register for the GMAT exam at mba.com, and the GRE at ets.org. You may also wish to familiarize yourself with these tests by viewing free GMAT sample questions and practice tests, as well as free GRE preparation materials, though we do not endorse any particular prep source and encourage you to do your own research.GRE Math Subject test (Optional)
Electronic Preferred/Email/ Request Official Scores 官方成绩
FAQ
- What type of applicant does BU look for? 什么样的申请者符合要求？
The Admission Committee looks for three primary factors when they review an application:招生委员会在审查申请时寻找三个主要因素：
A record of academic excellence in quantitative coursework — so we can be assured that you will thrive in our dynamic and rigorous program
在定量课程中的学术成就记录-因此我们可以保证您将在我们的动态和严格的课程中成长。
Commitment to ethics — to ensure that you will maintain the high level of integrity expected of all students in the Questrom School of Business
对道德的承诺-确保你将保持商学院对所有学生所期望的高度诚信。
Evidence of student and community involvement — to indicate the value you will bring to future classmates
学生和社区参与的证据-表明你将为未来的同学带来的价值
We are committed to enrolling qualitatively excellent incoming classes that represent global, ethnic, and demographic diversity. It is our policy to encourage prospective students to consider our management programs regardless of race, color, religious creed, gender, national or ethnic origin, sexual orientation, age, disability, eligible veteran status or any other category protected by law.
我们致力于招收代表全球、种族和人口多样性的优秀新生。我们的政策是鼓励未来的学生考虑我们的管理计划，无论种族、肤色、宗教信仰、性别、国籍或族裔、性取向、年龄、残疾、合格退伍军人身份或任何其他受法律保护的类别。
- Where do I send my official application components (i.e official transcripts)? 申请文件寄送
You should first upload your documents with your application or email them to [email protected]. If you are admitted, you will be required to submit official documents. Official documents can be mailed to: 上传文件。正式文件应该寄送到：
All documents should be mailed to:
Boston University Questrom School of Business
Office of Graduate Admissions
595 Commonwealth Avenue
Boston, Massachusetts 02215
- How long will I have to wait for my admission decision?
录取通知需要等多久？
If your application is submitted in its entirety by the required deadline, we aim to release the decision to you in four to six weeks. This precludes our doctoral programs. For the anticipated decision response dates, please visit our application deadlines page.
完整提交后的4-6周内。
- What is the minimum TOEFL/IELTS/PTE scores you accept? 最低的语言成绩。
TOEFL: Minimum scores of 600 on the PBT or 90 on the IBT are recommended. BU’s TOEFL code is 3087, and the department code is 02. 托福 90
IELTS: A student’s overall score must be a minimum of 6.5. 雅思6.5
PTE: As more candidates submit the PTE, we are developing updated standards for our requirements. As new information becomes available, it will be posted here.
- Do I need to interview? 需要面试吗？
No, interviews are not required for the MS in Mathematical Finance program. 不需要
- Do I need a four-year degree? 需要一个四年的学位吗？
We require that applicants hold a four-year Bachelor’s degree from an accredited US institution or its international equivalent. If you have earned a three-year degree that is the equivalent of a four-year degree in the US, it will be accepted in the admissions process. For example, if you earned a three-year degree in India, your degree will qualify you to be considered for admission. Regardless of program length, if you are uncertain whether your undergraduate degree meets our qualifications, please contact [email protected] before starting the application process.
是的 三年等同学位可以发邮件咨询。
- Do I need to complete all essays? 需要完成所有的个人陈述吗？
Yes, in order to be considered for admission, you must submit all required essays. 是的
- If my undergraduate degree is not in mathematics, can I apply to the program? 如果本科学位不是数学，可以申请吗？
Yes, if you have successfully completed the prerequisite courses and are able to satisfy the University’s other requirements for admission. 是的，可以，只要完成先修课要求，并满足学院其他的录取要求。
- Is work experience required in order to apply to the Master’s program? 需要工作经历吗？
No, the program was designed to meet the educational needs of both recent college graduates and practitioners. In fact, those individuals who have earned academic degrees quite recently are well positioned to succeed in this highly-rigorous, quantitative program.
不需要。
Prerequisites 先修课要求
We require that applicants have completed the following prerequisite courses to be considered for admission. You will be asked to highlight your coursework within the online application.
要求完成以下的先修课。
Calculus I: Limits; derivatives; differentiation of algebraic functions. Applications to maxima, minima, and convexity of functions. The definite integral, the fundamental theorem of integral calculus, and applications of integration.
Calculus II: Logarithmic, exponential, and trigonometric functions; Sequences and series, and Taylors series with the remainder; Methods of integration.
Calculus III: Vectors, lines, and planes. Multiple integration, and cylindrical and spherical coordinates. Partial derivatives, directional derivatives, scalar and vector fields, the gradient, potentials, approximation, multivariate minimization, Stokes’s, and related theorems.
Linear Algebra: Matrix algebra, solution of linear systems, determinants, Gaussian elimination, fundamental theory, and row-echelon form. Vector spaces, bases, and norms. Computer methods. Eigenvalues and eigenvectors, and canonical decomposition. Applications.
Differential Equations: First-order linear and separable equations, Second-order equations and first-order systems, Linear equations and linearization, Numerical and qualitative analysis, Laplace transforms, Applications and modeling of real phenomena throughout.
Basic computer programming skills
Math Refresher (QSTMF600) 数学温故课程
The Mathematical Finance Program has a very strong quantitative component, one which many incoming students underestimate. Although students admitted to the program have satisfied the prerequisites in Mathematics, the program's prerequisites represent the minimal, not the optimal, background required. Even if you have learned the topics required as prerequisites, reviewing these concepts immediately prior to the start of the program could be enormously helpful and will certainly increase your chance of success in the program. The course will begin with a review of matrix algebra, then proceed to examine the role of calculus in comparative static analysis. Following this, unconstrained and constrained optimization will be covered using multivariate calculus. The second half of the class deals with dynamics, beginning with a review of integration, and continuing with first- and higher-order differential equations.
数学金融课程有一个很强的定量成分，很多新生都低估了这一点。尽管被录取的学生已经满足了数学的先修课程，但该课程的先修课仅代表了所需的最低而非最佳背景。即使您已经学习了作为先修课所需的主题，在课程开始前立即回顾这些概念也会非常有帮助，并且一定会增加您在课程中成功的机会。本课程将从矩阵代数的回顾开始，然后继续探讨微积分在比较静态分析中的作用。接下来，将使用多元演算来讨论无约束优化和约束优化。课程的后半部分讨论动力学，首先回顾积分，然后继续学习一阶和高阶微分方程。
Application Deadline 申请截止日期
Course Description
MS in Mathematical Finance Curriculum—36 cr*
数学金融课程-36学分
Required Core—15 credits: 核心课程 15学分
MF 702 Fundamentals of Finance** (3 cr)
MF 703 Programming for Mathematical Finance (3 cr)
MF 793 Statistics for Mathematical Finance (3 cr)
MF 795 Stochastic Methods of Asset Pricing I (3 cr)
MF 728 Fixed Income Securities (3 cr)
Electives—21 credits: 选修课程-21学分
Seven 3-credit electives 7门3学分选修课
*Because of the integrated structure of the Mathematical Finance curriculum and course rigor, all Mathematical Finance students must remain on the prescribed curriculum of 12 credits per semester. Any additional courses beyond the 12 credits per semester curriculum must be approved in advance by the Program Executive Director. The curriculum and courses are subject to change as recommended by faculty, deans, and administrators of Questrom School of Business.
**Students pursing the Analytics & Research concentration will register for FE 918 in the Fall Semester of year one instead of MF 702. Students pursuing this concentration are required to earn at least a B+ in FE 918 and earn a semester CGPA of a B+ in order to continue pursuing this concentration. Students who do not achieve this grade requirement will not be able to pursue this concentration, however FE 918 will count as equivalent to MF 702.
Concentrations 方向
Once enrolled, students have the opportunity to concentrate in Asset Management, Quantitative Analytics, Risk Management, or Analytics & Research.
四个专业方向：资产管理、量化分析、风险管理或者分析和研究
Students must formally declare their anticipated concentration during the Fall Semester of year one. Concentration requirements are subject to change and are separate from MSMF degree requirements. Substitution requests for concentration elective courses require the approval of the Executive Director in conjunction with the MSMF PDC.
学生必须在第一学年的秋季学期正式决定选择方向。各个专业方向的要求会有不同，与MSMF学位要求独立。
Asset Management Concentration
资产管理
Quantitative Analytics Concentration
量化分析
Risk Management Concentration
风险管理
Analytics & Research Concentration
分析和研究
All Mathematical Finance courses are taken for 3 credits. Students must pick elective courses from the approved list of MSMF courses. If a student is interested in taking an elective outside of the MSMF program either at Questrom or at another college at BU, they must have the approval of the Executive Director in consultation with the Mathematical Finance Program Development Committee (MF PDC).
所有该项目课程学分为3分。必须从项目审核通过的课程中来选择选修课程。若学生想选修项目之外或者BU其他学院的课程，必须经过项目执行总监的允许。
To qualify for the MS in Mathematical Finance, students must:
- Complete all required courses for a total of 36 credits. Note that 1-credit Curricular Practical Training (CPT) courses for international students cannot be used to satisfy degree requirements.
为了获得数学金融硕士学位，学生必须：完成所有必修课程共36学分。请注意，国际学生的1学分课程实践培训（CPT）课程不能用于满足学位要求。
- Have a cumulative GPA of at least 2.70.
平均绩点累计至少为2.70。
- Have no “I” grades or no “MG” grades in courses counting toward the MSMF.
在计算MSMF的课程中，没有“I”级或“MG”级。
Fees and cost
Class Profile & Career
Nationalities Represented
CHINA
HONG KONG
INDIA
JAMAICA
SOUTH AFRICA
UNITED STATES
Careers 就业
While the program covers the main aspects of mathematical finance and aims to prepare students for careers primarily in the financial services industry, it also provides training in the general areas of optimization, computing and statistics.
该项目为学生主要准备了在金融服务行业的工作，同样也可以在优化、计算和统计领域从业。
Graduates of the MF program enter into a number of fields upon graduation. Some of these career paths include: 主要职业路径包括：
Financial Advisory and Investment
金融顾问和投资
Banking
银行
Fixed Income Securities and Derivative
固定收益证券和衍生品
Products Management
产品管理
Algorithmic Trading and Risk Management
算法交易和风险管理
Proprietary Trading and Asset Management
资产蕉叶和管理
Financial Product Design and Implementation
金融产品设计和实施
