| Mathematics of Finance and Actuarial Science |
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Administered By:
Department of Mathematical Sciences
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Joint appointment with Department of Biomedical Engineering |
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Joint appointment with the Department of Information Systems |
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Joint appointment with the Federated Department of Biological Sciences |
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Joint appointment with the Department of Electrical and Computer Engineering |
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Administration
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| Chair |
Ahluwali |
| Associate Chair. |
depapa |
| Associate Chair Undergraduate Program |
michalop |
| Director, Graduate Studies |
kondic |
| Director Statistics Program |
bhattach |
| Departmental Coordinator |
gulati |
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Administration |
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Faculty
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| Foundation Chair |
grkrie |
| Distinguished Professors |
grkrie,miura[s1] |
| Professors |
ahluwali,andrushk,bhattach,blackmor,bose,deek[s2], lacker[s1],levy,lukej,milojevi,depapa,perez,michalop[s4],misieg,farzan[s3] |
| Associate Professors |
bechtold,booty,bukiet,chase,wychoi,dhar,dios,golowasc[s3],horntrop,kappraff,katzen,kondic,lieb,peterp,plastock,sran,sundars,xwang,muratov |
| Assistant Professors |
boubendi,goodman,peterg,jiang,matveev,rmoore,tao,yyoung |
| Special Lecturers |
Jain,Rappapor,Ratnaswa,venkates |
| Lecturers |
abdel, hunter, mohebbi, zaleski |
| Post Doctoral Fellows |
rbarros,sbm4,zorych,abg3 |
| Research Professors |
Booth,Thomas Erneux,elmer, Georgiev,kj22, Roberto Mauri,dalc,Jean Vanden-Broeck,raymond |
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Faculty |
| Foundation Chair |
Gregory A. Kriegsmann |
| Distinguished Professors |
Gregory A. Kriegsmann, Robert M. Miura* |
| Professors |
Daljit S. Ahluwalia, Roman I. Andrushkiw, Manish Bhattacharjee, Denis L. Blackmore, Amitabha K. Bose, Fadi Deek** , H M. Lacker* , Dorothy Levy, Jonathan H. Luke, Petronije Milojevic, Demetrius Papageorgiou, Manuel Perez, Zoi-heleni Michalopoulou**** , Michael S. Siegel, Farzan Nadim*** |
| Associate Professors |
John K. Bechtold, Michael R. Booty, Bruce G. Bukiet, Hamilton A. Chase, Wooyoung Choi, Sunil K. Dhar, Rose Dios, Jorge P. Golowasch*** , David J. Horntrop, Jay M. Kappraff, Martin Katzen, Lou Kondic, Murray I. Lieb, Peter G. Petropoulos, Roy A. Plastock, Kewal S. Sran, Sundarraman Subramanian, Sheldon Wang, Cyrill B. Muratov |
| Assistant Professors |
Yassine Boubendir, Roy H. Goodman, Peter Gordon, Shidong Jiang, Victor V. Matveev, Richard O. Moore, Louis Tao, Yuan-nan Young |
| Special Lecturers |
Aridaman K. Jain, Karen D. Rappaport, Jeyakumaran Ratnaswamy, Venkatasubraman Venkateswaran |
| Lecturers |
Soha R. Abdeljaber, John Hunter, Soroosh Mohebbi Forushani, Joseph Zaleski |
| Post Doctoral Fellows |
Ricardo A. Lopes barros, Stefan B. Maehlmann, Ivan Zorych, Arnaud B. Goullet |
| Research Professors |
Booth, Thomas Erneux, Christopher E. Elmer, Georgiev, Kenneth A. Johnson, Roberto Mauri, dalc, Jean Vanden-Broeck, Christopher S. Raymond |
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* Joint appointment with Department of Biomedical Engineering
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** Joint appointment with the Department of Information Systems
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*** Joint appointment with the Federated Department of Biological Sciences
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**** Joint appointment with the Department of Electrical and Computer Engineering
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Administered By: Department of Mathematical Sciences, Cullimore Hall, Room 606
The undergraduate program in Mathematical Sciences with an option in Mathematics of Finance and Actuarial Science prepares students for the application of mathematics to financial management, market transactions, business analysis, investments, insurance and pensions. NJIT's Department of Mathematical Sciences is one of the few departments in New Jersey with a strong program in Mathematics of Finance and Actuarial Science. Majors: The undergraduate curriculum provides students with training in a broad range of mathematical techniques and problem solving strategies. Students learn about the many facets of financial analysis through courses in Mathematics, Accounting, Economics, and Finance. A strong background in Computers and Scientific Computing make our students an even greater asset to the industry. Double Majors: Students may earn a second major in addition to their primary major in Mathematical Sciences with an option in Mathematics of Finance and Actuarial Science. Two of the most popular double majors with the Mathematical Sciences major are the Computer Science (B.S.) major and the Biology (B.S.) major. Completion is usually feasible within four years of full-time study. Contact the Department of Mathematical Sciences for a list of appropriate courses to complete a double major with the major in Mathematical Sciences with an option in Mathematics of Finance and Actuarial Science. For general rules about double majors, see Degree Options in the Academic Policies and Procedures section of this catalog. Curriculum: The curriculum described below is for students who entered NJIT in the Fall of 2002 or later. Students who entered NJIT before that date have been moved into this new program and should consult their faculty advisor in the Department of Mathematical Sciences if they have any questions regarding this new curriculum.
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| B.S. in Mathematical Sciences with option in Mathematics of Finance and Acturial Science |
129 credits minimum |
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B.S. in Mathematical Sciences with option in Mathematics of Finance and Acturial Science
(129 credits minimum)
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FIRST YEAR 1st Semester: (15 credits)
math111,cs115,cs115a,hum101,phys111,phys111a,frshsem,{Elective;Physical Education:GUR;0-1-1}
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| | | Math 111 | Calculus I (4-1-4) | | | | CS 115 | Intro. to CS I in C++ (3-0-3) | | | | CS 115A | Computer Science I Lab/C++ (0-1.5-0) | | | | HUM 101 | English Composition: Writing, Speaking, Thinking I (3-0-3) | | | | Phys 111 | Physics I (3-0-3) | | | | Phys 111A | Physics I Laboratory (0-2-1) | | | | Frsh Sem | Freshman Seminar (1-0-0) | | | | Elective | (Physical Education:GUR) (0-1-1) |
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2nd Semester: (17 credits)
math112,acct115,eps202,phys121,phys121a,{Elective;Communication/Cultural History:GUR;3-0-3}
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| | | Math 112 | Calculus II (4-1-4) | | | | Acct 115 | Principles of Accounting I (3-0-3) | | | | EPS 202 | Society, Technology, and the Environment (3-0-3) | | | | Phys 121 | Physics II (3-0-3) | | | | Phys 121A | Physics II Laboratory (0-2-1) | | | | Elective | (Communication/Cultural History:GUR) (3-0-3) |
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SECOND YEAR: 1st Semester: (17 credits)
math213,math226,math244,econ265,{Elective;Cultural History:GUR;3-0-3}
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| | | Math 213 | Calculus III B (4-0-4) | | | | Math 226 | Discrete Analysis (4-0-4) | | | | Math 244 | Introduction to Probability Theory (3-0-3) | | | | Econ 265 | Microeconomics (3-0-3) | | | | Elective | (Cultural History:GUR) (3-0-3) |
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2nd Semester: (17 credits)
math222,math340,math337,math341,econ266,{Elective;Physical Education:GUR;0-1-1}
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| | | Math 222 | Differential Equations (4-0-4) | | | | Math 340 | Applied Numerical Methods (3-0-3) | | | | Math 337 | Linear Algebra (3-0-3) | | | | Math 341 | Introduction to Statistics (3-0-3) | | | | Econ 266 | Macroeconomics (3-0-3) | | | | Elective | (Physical Education:GUR) (0-1-1) |
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THIRD YEAR: 1st Semester: (18 credits)
math447,math346,math345,fin315,{Elective;Humanities and Social Sciences Upper Level Elective:GUR;3-0-3},{Elective;Lit/Hist/Phil/STS:GUR;3-0-3}
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| | | Math 447 | Applied Time Series Analysis (3-0-3) | | | | Math 346 | Mathematics of Finance I (3-0-3) | | | | Math 345 | Multivariate Distributions (3-0-3) | | | | Fin 315 | Fundamentals of Corporate Management (3-0-3) | | | | Elective | (Humanities and Social Sciences Upper Level Elective:GUR) (3-0-3) | | | | Elective | (Lit/Hist/Phil/STS:GUR) (3-0-3) |
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2nd Semester: (15 credits)
math331,math344,math347,{Elective;Senior Seminar-Humanities and Social Science:GUR;3-0-3},{Elective;Management:GUR;3-0-3}
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| | | Math 331 | Introduction to Partial Differential Equations (3-0-3) | | | | Math 344 | Regression Analysis (3-0-3) | | | | Math 347 | Mathematics of Finance II (3-0-3) | | | | Elective | (Senior Seminar-Humanities and Social Science:GUR) (3-0-3) | | | | Elective | (Management:GUR) (3-0-3) |
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FOURTH YEAR: 1st Semester: (16 Credits)
{Elective;Mathematics 400+:3-0-3},math432,{fin416|R390:330},{Elective;Option Elective-Math 440, 441, 442, 480, 481, Fin 401, 402, 422, 423;3-0-3},{Elective;Free;3-0-3}
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| | | Elective | (Mathematics 400+:3-0-3) | | | | Math 432 | Mathematics of Financial Derivatives I (3-0-3) |  | | Fin 416 | Advanced Corporate Finance (3-0-3) or | | | R390:330 | Corporate Finance (3) | | | | Elective | (Option Elective-Math 440, 441, 442, 480, 481, Fin 401, 402, 422, 423) (3-0-3) | | | | Elective | (Free) (3-0-3) |
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2nd Semester: (15 credits)
math477,math 448,math433,{Elective;Option Elective-Math 440, 441, 442, 480, 481, Fin 401, 402, 422, 423;3-0-3},{Elective;Free;3-0-3}
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| | | Math 477 | Stochastic Processes (3-0-3) | | | | MATH 448 | | | | | Math 433 | Mathematics of Financial Derivatives II (3-0-3) | | | | Elective | (Option Elective-Math 440, 441, 442, 480, 481, Fin 401, 402, 422, 423) (3-0-3) | | | | Elective | (Free) (3-0-3) |
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General University Requirements and Electives
All students are required to satisfy the General University Requirements (GUR). All GUR courses and additional mathematics, technical, and free electives are to be selected in consultation with a faculty advisor in the Department of Mathematical Sciences. Refer to the General University Requirements section of this catalog for further information on electives. Engineering Technology GUR (6 credits): Two courses selected from among the following: any lower division or upper division courses in engineering (including EG, FED, and Mech courses); any upper division courses in architecture, computer science, or engineering technology, or MIS 345 . Management GUR: Students take IE 492 or Mgmt 390 Physical Education GUR: Students who register as full-time undergraduates for two or more consecutive semesters must take two PE courses, one of which must be a 100-level fitness core course. Students are urged to complete the requirement as soon as possible. Basic Social Sciences GUR: Three credits of the basic social sciences requirement must be taken in economics; acceptable courses are SS 201,Econ 265, or Econ 266 . The remaining 3 credits may be satisfied by HSS 202,STS 257, or STS 258 . Students also may take approved introductory courses in basic social sciences at Rutgers-Newark to fulfill this requirement. Cultural History GUR: Take two courses (6 credits) from among HSS 211,HSS 212 ,HSS 213, and 200-level history courses at Rutgers-Newark. Lit/Hist/Phil/STS GUR: Students must take one 300-level course from any of the following fields: literature; history; philosophy; or science, technology, and society (STS); or an approved 300-level course at Rutgers-Newark. Open Elective in Humanities and Social Science GUR: Students must take one 300-level course from any of the following fields: English (Eng); history (Hist); literature (Lit); philosophy (Phil); science, technology, and society (STS); social science (SS); or theater (Thtr). Students also may satisfy this requirement with Architectural History IV (Arch 382) or by taking an approved 300-level course at Rutgers-Newark. Capstone Seminar in Humanities and Social Science GUR: All students, except those enrolled in the honors college, take one of the following: HSS 403,HSS 404,HSS 405,HSS 406,HSS 407,HSS 408,HSS 409.Students enrolled in the honors college take one from HSS 491H-499H . Electives Mathematics, Technical, and Free Electives: Any mathematics course numbered 331 or above may be used as a mathematics, technical, or free elective. Any NJIT course at or above the 100 level may be used as a technical or free elective; except a technical elective is a course that has a significant mathematical and/or scientific content. All elective courses are to be chosen in consultation with a faculty advisor in the Department of Mathematical Sciences. Co-op Courses In Mathematical Sciences, the co-op courses, Math 310 and Math 410, bear degree credit and count as technical or free electives, subject to approval by a faculty advisor in the Department of Mathematical Sciences.
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