| 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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***** |
With Biological Sciences |
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****** |
With School of Management |
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Administration
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| Chair |
Ahluwali |
| Associate Chair. |
lukej |
| Director, Undergraduate Program |
matveev |
| Director, Graduate Studies |
booty |
| Director, Statistics Program |
jain |
| 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,bechtold,bhattach,blackmor,bose,booty,wychoi,deek[s2],kondic, lacker[s1],levy,lukej,milojevi,perez,michalop[s4],misieg,farzan[s3] |
| Associate Professors |
bukiet,chase,lcumming,dhar,dios,goodman,golowasc[s3],horntrop,kappraff,katzen,lieb,matveev,rmoore,peterp,plastock,horacio,sundars,muratov |
| Assistant Professors |
shahriar,boubendi,cchang,peterg,jiang,yyoung |
| Senior University Lecturers |
Jain,Rappapor,Ratnaswa |
| Lecturers |
abdel, hunter, klimekd,mohebbi, jjp3,nn28,zaleski |
| Post Doctoral Fellows |
rbarros,abg3,mo42 |
| Research Professors |
Booth,Thomas Erneux,elmer, Georgiev,Roberto Mauri,dalc,Jean Vanden-Broeck,depapa,raymond |
| Visiting Assistant Professors |
dbunker[s5],kj22,rsverdlo[s6] |
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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, John K. Bechtold, Manish Bhattacharjee, Denis L. Blackmore, Amitabha K. Bose, Michael R. Booty, Wooyoung Choi, Fadi Deek** , Lou Kondic, H M. Lacker* , Dorothy Levy, Jonathan H. Luke, Petronije Milojevic, Manuel Perez, Zoi-heleni Michalopoulou**** , Michael S. Siegel, Farzan Nadim*** |
| Associate Professors |
Bruce G. Bukiet, Hamilton A. Chase, Linda J. Cummings, Sunil K. Dhar, Rose Dios, Roy H. Goodman, Jorge P. Golowasch*** , David J. Horntrop, Jay M. Kappraff, Martin Katzen, Murray I. Lieb, Victor V. Matveev, Richard O. Moore, Peter G. Petropoulos, Roy A. Plastock, Horacio G. Rotstein, Sundarraman Subramanian, Cyrill B. Muratov |
| Assistant Professors |
Shahriar Afkhami zakerzadeh, Yassine Boubendir, Chung Chang, Peter Gordon, Shidong Jiang, Yuan-nan Young |
| Senior University Lecturers |
Aridaman K. Jain, Karen D. Rappaport, Jeyakumaran Ratnaswamy |
| Lecturers |
Soha R. Abdeljaber, John Hunter, Diana P. Klimek, Soroosh Mohebbi Forushani, Jonathan J. Porus, Nemanja Nikitovic, Joseph Zaleski |
| Post Doctoral Fellows |
Ricardo A. Lopes barros, Arnaud B. Goullet, Myongkeun Oh |
| Research Professors |
Booth, Thomas Erneux, Christopher E. Elmer, Georgiev, Roberto Mauri, dalc, Jean Vanden-Broeck, Demetrius Papageorgiou, Christopher S. Raymond |
| Visiting Assistant Professors |
Daniel E. Bunker***** , Kenneth A. Johnson, Ronald Sverdlove****** |
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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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***** With Biological Sciences
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****** With School of Management
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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. Contact the Department of Mathematical Sciences for a list of appropriate courses to complete a double major. For general rules about double majors, see Degree Options in the Academic Policies and Procedures section of this catalog. 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,{PE;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) | | | | PE | (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,math227,math244,econ265,{Elective;Cultural History:GUR;3-0-3}
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| | | Math 213 | Calculus III B (4-0-4) | | | | Math 227 | Mathematical Modeling (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,{PE;Physical Education:GUR;0-1-1}
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| | | Math 222 | Differential Equations (4-0-4) | | | | Math 340 | Applied Numerical Methods (3-1-3) | | | | Math 337 | Linear Algebra (3-0-3) | | | | Math 341 | Introduction to Statistics (3-0-3) | | | | Econ 266 | Macroeconomics (3-0-3) | | | | PE | (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 Finance (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: (15 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 (Capstone 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,math448,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 | Stochastic Simulation (3-0-3) | | | | Math 433 | Mathematics of Financial Derivatives II (Capstone 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. Electives All electives should be selected after consultation with a Mathematical Sciences faculty advisor. 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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