CATALOG HOME | UNDERGRADUATE | GRADUATE | DISTANCE LEARNING | ADMISSIONS | REGISTRAR | NJIT | CATALOG ARCHIVE

Mathematics of Finance and Actuarial Science
Administered By: Department of Mathematical Sciences
mathematics
0
5
s1 * Joint appointment with Department of Biomedical Engineering
s2 ** Joint appointment with the Department of Information Systems
s3 *** Joint appointment with the Federated Department of Biological Sciences
s4 **** Joint appointment with the Department of Electrical and Computer Engineering
s5 ***** Joint appointment with School of Mangement
2

Administration
6
Chair lukej
Acting Chair bechtold
Associate Chair, Undergraduate Studies michalop
Director, Graduate Studies lcumming
Director, Statistics Program dhar
Departmental Coordinator michie

Administration
Chair Jonathan H. Luke
Acting Chair John K. Bechtold
Associate Chair, Undergraduate Studies Zoi-heleni Michalopoulou
Director, Graduate Studies Linda J. Cummings
Director, Statistics Program Sunil K. Dhar
Departmental Coordinator Eileen M. Michie

Faculty
8
Distinguished Professors grkrie,miura[s1]
Professors bose,ahluwali,blackmor,deek[s2],farzan[s3],lukej,bechtold,kondic,bhattach,perez,booty,misieg,milojevi,andrushk,dhar,wychoi,michalop[s4]
Associate Professors aw224,bukiet,cct21,muratov,horntrop,russell[s3],horacio,kappraff,loh,golowasc[s3],lcumming,lieb,rmoore,peterp,plastock,dios,goodman,jiang,sundars,matveev,yyoung,boubendi
Assistant Professors diekman,dbunker[s3,shahriar,wguo,rsverdlo[s5]
Senior University Lecturers Ratnaswa,Rappapor,sjkim
Lecturers klimekd,hayesj,hunter,zaleski,profsr31,sieminsk,pnatar,rkelly, mohebbi
Post Doctoral Fellows ahong,gchaves,skm21

Faculty
Distinguished Professors Gregory A. Kriegsmann, Robert M. Miura*
Professors Amitabha K. Bose, Daljit S. Ahluwalia, Denis L. Blackmore, Fadi Deek** , Farzan Nadim*** , Jonathan H. Luke, John K. Bechtold, Lou Kondic, Manish Bhattacharjee, Manuel Perez, Michael R. Booty, Michael S. Siegel, Petronije Milojevic, Roman I. Andrushkiw, Sunil K. Dhar, Wooyoung Choi, Zoi-heleni Michalopoulou****
Associate Professors Antai Wang, Bruce G. Bukiet, Catalin C. Turc, Cyrill B. Muratov, David J. Horntrop, Gareth J. Russell*** , Horacio G. Rotstein, Jay M. Kappraff, Ji M. Loh, Jorge P. Golowasch*** , Linda J. Cummings, Murray I. Lieb, Richard O. Moore, Peter G. Petropoulos, Roy A. Plastock, Rose Dios, Roy H. Goodman, Shidong Jiang, Sundarraman Subramanian, Victor V. Matveev, Yuan-nan Young, Yassine Boubendir
Assistant Professors Casey O. Diekman, Daniel E. Bunker*** , Shahriar Afkhami, Wenge Guo, Ronald Sverdlove*****
Senior University Lecturers Jeyakumaran Ratnaswamy, Karen D. Rappaport, Seonja Kim
Lecturers Diana P. Klimek, Jimmy L. Hayes, John Hunter, Joseph Zaleski, Ken Horwitz, Katarzyna M. Sieminska, Padma Natarajan, Rudy Kelly, Soroosh Mohebbi Forushani
Post Doctoral Fellows Andrew E. Hong, Gabriel D. Chaves, Sashi K. Marella
*  Joint appointment with Department of Biomedical Engineering
**  Joint appointment with the Department of Information Systems
***  Joint appointment with the Federated Department of Biological Sciences
****  Joint appointment with the Department of Electrical and Computer Engineering
*****  Joint appointment with School of Mangement
 

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.

1
B.S. in Mathematical Sciences with option in Mathematics of Finance and Acturial Science 129 credits minimum 9
 
B.S. in Mathematical Sciences with option in Mathematics of Finance and Acturial Science (129 credits minimum)

Prerequisite grade requirement for Mathematical Sciences majors:
Students are required to earn a grade of C or better in all Math courses

FIRST YEAR
1st Semester: (15 credits)

math111,cs100,hum101,phys111,phys111a,frshsem,{PE;Physical Education:GUR;0-1-1}
  Math 111Calculus I (4-1-4)
  CS 100Roadmap to Computing (3-0-3)
  HUM 101English Composition: Writing, Speaking, Thinking I (3-0-3)
  Phys 111Physics I (3-0-3)
  Phys 111APhysics I Laboratory (0-2-1)
  Frsh SemFreshman Seminar (1-0-0)
  PE (Physical Education:GUR) (0-1-1) 
2nd Semester: (17 credits) math112,acct115,eps202,phys121,phys121a,hum102
  Math 112Calculus II (4-1-4)
  Acct 115 Fundamentals of Financial Accounting (3-0-3)
  EPS 202Society, Technology, and the Environment (3-0-3)
  Phys 121Physics II (3-0-3)
  Phys 121APhysics II Laboratory (0-2-1)
  HUM 102English Composition: Writing, Speaking, Thinking II (3-0-3)

SECOND YEAR:
1st Semester: (17 credits)

math213,math227,math244,econ265,{Elective;Cultural History:GUR;3-0-3}
  Math 213Calculus III B (4-0-4)
  Math 227Mathematical Modeling (4-0-4)
  Math 244Introduction to Probability Theory (3-0-3)
  Econ 265Microeconomics (3-0-3)
  Elective (Cultural History:GUR) (3-0-3) 
2nd Semester: (17 credits) math222,math340,math337,math341,econ266,{PE;Physical Education:GUR;0-1-1}
  Math 222Differential Equations (4-0-4)
  Math 340Applied Numerical Methods (3-1-3)
  Math 337Linear Algebra (3-0-3)
  Math 341Statistical Methods II (3-0-3)
  Econ 266Macroeconomics (3-0-3)
  PE (Physical Education:GUR) (0-1-1) 

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}
  Math 447Applied Time Series Analysis (3-0-3)
  Math 346Mathematics of Finance I (3-0-3)
  Math 345Multivariate Distributions (3-0-3)
  Fin 315Fundamentals 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) 
2nd Semester: (15 credits) math331,math344,math347,{Elective;Senior Seminar-Humanities and Social Science:GUR;3-0-3},{Elective;Management:GUR;3-0-3}
  Math 331Introduction to Partial Differential Equations (3-0-3)
  Math 344Regression Analysis (3-0-3)
  Math 347Mathematics of Finance II (3-0-3)
  Elective (Senior Seminar-Humanities and Social Science:GUR) (3-0-3) 
  Elective (Management:GUR) (3-0-3) 

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}
  Elective (Mathematics 400+:3-0-3) 
  Math 432Mathematics of Financial Derivatives I (Capstone I) (3-0-3)
 Fin 416Advanced Corporate Finance (3-0-3) or
 R390:330Corporate Finance (3)
  Elective (Option Elective-Math 440, 441, 442, 480, 481, Fin 401, 402, 422, 423) (3-0-3) 
  Elective (Free) (3-0-3) 
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}
  Math 477Stochastic Processes (3-0-3)
  Math 448Stochastic Simulation (3-0-3)
  Math 433Mathematics 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) 

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.

 


Catalog and curricula information approved by the relevant academic department.