Bachelor of Science in Financial Mathematics
Financial Mathematics is the application of mathematical models to the solution of problems in the financial industry. It draws upon tools from Mathematical Sciences, Business and Economic theory. Financial institutions, insurance companies, corporate treasuries and major corporations require analysts with high skills in financial mathematics. Their responsibilities include, but are not limited to: aiding in interest rate modeling; evaluating investments; wealth valuation; decision making; and developing programmes that utilize derivatives to reduce exposure to market fluctuations and risk. Mathematical analysis has brought efficiency and rigor to financial markets and the investment process, and is becoming important in regulatory concerns.
Admission requirements are the same as for the University of New Brunswick Science Degree.
A student must complete at least 124 ch with a minimum grade of C in each course in the program. The curriculum consists of core requirement courses (77 ch) plus elective courses (11 courses adding up to at least 35 ch) drawn from Mathematics, Business Administration, Computer Science, Humanities, Economics and Statistics as well as at least 12 ch of electives at any level.
a. Required Courses
MATH 1003 , MATH 1013 , MATH 1503 , MATH 2513 , MATH 2523 , MATH 2203 , MATH 2903 , MATH 2913 , MATH 3073 , MATH 3713 , MATH 3903 , MATH 4903 , MATH 4993 ; ECON 1013 , ECON 1023 , ECON 2013 , ECON 2023 ; BA 1216 , BA 2217 , BA 3425 , BA 4437 , BA 4455 ; CS 1073 ; STAT 3083 , STAT 3093 .
b. Electives Courses
- At least 3 ch of courses selected from HUM 2003 , HUM 1021 , HUM 3003 , HUM 2021
- At least 6 ch of courses selected from CS 1083 , CS 2113 , CS 3113
- At least 6 ch of courses selected from ECON 2103 , ECON 3114 , ECON 3412 , ECON 3665 , ECON 3835
- At least 12 ch of courses selected from MATH 3213 , MATH 3243 , MATH 3303 , MATH 3343 , MATH 3503 , MATH 3733 , MATH 3753
- At least 6 ch of courses selected from STAT 1793 , STAT 3703 , STAT 4243 , STAT 4703
- At least 12 ch of elective courses approved by the Department of Mathematical Sciences.
- Students planning to undertake graduate studies are advised to take MATH 3733 .
- Students choosing STAT 1793 as an elective must do so before taking STAT 3083 .
- Transfer students into this program from UNB or from other Canadian Universities may be able to substitute, with the approval of the Department of Mathematical Sciences, some of the above electives by previously obtained credits (with a C grade or higher) in Business Administration or Economics courses at the 3000 and 4000 levels.
An outline of the sequence of courses taken by a student in the first two years of the programme is as follows:
MATH 1003 Introduction to Calculus I
MATH 1013 Introduction to Calculus II
MATH 1503 Introduction to Linear Algebra
BA 1216 Accounting for Managers I
CS 1073 Introduction to Computer Programing in Java
ECON 1013 Introduction to Microeconomics
ECON 1023 Introduction to Macroeconomics
Plus electives equivalent to three term courses
MATH 2203 Discrete Mathematics
MATH 2513 Multivariate Calculus for Engineers
MATH 2523 Differential Equations for Infinite Series
MATH 2903 Financial Mathematics I
MATH 2913 Financial Mathematics II
BA 2217 Accounting for Managers II
ECON 2013 Intermediate Microeconomics
ECON 2023 Intermediate Macroeconomics
Plus two term elective courses