The Financial Mathematics Program is taught by University of Chicago faculty, adjunct faculty, and lecturers drawn from industry professionals. We teach students the principles of applied mathematics as those principles relate to the financial industry. Students learn about the theoretical components involved with pricing derivatives and managing assets as they learn how to work with complex mathematical and financial models. All course curriculum is developed by Program faculty and industry experts. Students will generally complete the curriculum in five quarters, or 15 months.
Read more about the Five-Quarter Program structure.
Students who qualify for a waiver of Computing for Finance in C++ and the Introduction to Finance and Markets requirement, as determined by mandatory placement exams, may opt to complete the Program in three quarters, or nine months. Students on the three-quarter track follow a more constrained curriculum with limited options for elective courses and must be enrolled full-time.
For the convenience of our working students, classes meet for three to four hours on weekday evenings. Classes are recorded and made available online 48 hours after each live lecture. Please see our Lecture Videos page for a sample lecture. All students are required to attend lectures. Students from Singapore have the option of studying in Chicago for a quarter. Singapore campus students who choose to participate in the Chicago campus exchange program should note that this DOES NOT make them eligible for OPT.
Courses are organized by quarter, with the fall quarter focusing on the mathematical foundations of the subject and an introduction to financial markets. The winter and spring quarters focus on topics such as statistical risk management, regression analysis, portfolio theory and applications of the mathematical theory of option pricing, as well as fixed income and foreign exchange derivatives. In summer quarter students can opt to receive practical training through Project Lab or an internship. The final fall quarter rounds off the degree with a variety of elective courses. Because the concepts introduced build upon each other, part-time students should expect to take more foundational courses first, followed by the more advanced and applied courses.
Course descriptions can be found on the course information page.