Financial Mathematics is the branch of applied mathematics concerned with the financial markets. It overlaps heavily with the fields of financial engineering and computational finance. Arguably, all three terms are synonymous. The subject naturally has a close relationship with the discipline of financial economics, but financial mathematics is narrower in scope and more abstract. A central difference is that while a financial economist might study the structural reasons why a company may have a certain share price, a mathematician or financial engineer may take the share price as a given, and attempt to use stochastic calculus to obtain the fair value of derivatives of the stock.
Financial Mathematics is a flourishing area of modern science. Its numerous applications have become vital to the day to day functioning of the world’s financial institutions. As a consequence, a solid command of the principles and techniques of quantitative finance is essential for a responsible approach to the trading, asset management, and risk control of complicated financial positions.
Many countries’ financial sectors have enjoyed unparalleled expansion over the past decade and opportunities have emerged for careers in numerous areas of the financial system. With the integration of financial markets in Europe and elsewhere new job opportunities are appearing all the time.
Within the manufacturing and service sectors of economies, financial analysis is becoming increasingly technical and the range of alternative financial instruments available to firms is expanding rapidly. There is increasing demand for employees with an understanding of the new tools and the ability to apply them.
Aim of Masters in Financial Mathematics
This one year program is aimed at students with a strong mathematical background and provides one of the most thorough and stimulating preparations for a career in finance available. By the end of it, you will be uniquely well qualified to find employment in business or academic world.
Courses
ECON 527 Financial Economics
MATH 555 Financial Mathematics
STAT 503 Probability Theory
FM 506 Stochastic Processes in Finance
GSNS 595 Seminar
ITF 507 Corporate Financial Management
Elective Courses
ECON 517 Financial Econometrics
FM 551 Scientific Computation and Simulation in Finance
IE 502 Probabilistic Systems Analysis
IES 508 System Simulation and Modeling
IES 513 Mathematical Programming and Applications
IES 534 Nonlinear Programming
IES 570 Cryptology and Computer Security
INS 501 Insurance Mathematics I: General Insurance
INS 551 Advanced Actuarial Mathematics
INS 552 Applied Actuarial Management
MATH 504 Statistics
MATH 505 Advanced Mathematical Analysis
MATH 508 Partial Differential Equations
MATH 552 Copula Theory and Its Application in Finance
MATH 553 Optimization
MATH 554 Basic Topics in Mathematics
MATH 600 Mathematics Softwares and Research Methods
MATH 601 Differential Equations
MATH 602 Advanced Linear Algebra and Optimization
MATH 669 Applied Homology, Computational Approach
MATH 670 Set-Theoretic Topology
MATH 671 Fuzzy Optimization
MATH 672 Algebra
MATH 673 Computational Commutative Algebra
MATH 674 Group Theory and Its Applications
MATH 675 Applications of Modules and Representation Theory
STAT 501 Theory of Statistics
STAT 502 Stochastic Processes
STAT 504 Nonparametric Statistics
STAT 505 Applied Statistical Analysis
STAT 506 Multivariate Statistics and the Theory of Copulas
STAT 551 Actuarial
STAT 552 Ordered Random Variables
STAT 553 Reliability
STAT 554 Statistical Process Control
STAT 555 Risk Analysis
STAT 556 Linear Statistical Models
STAT 557 Time Series Analysis
STAT 558 Design of Experiment
STAT 559 Advanced Probability Theory
STAT 560 Statistical Methods in Biology and Medical Sciences
STAT 561 Statistical Softwares and Simulation
STAT 562 Combinatorial Analysis and Discrete Distributions
STAT 563 Statistical Decision Theory
STAT 601 Probability Theory and Mathematical Statistics
Application Requirements for International Students
Who can apply?
Foreign nationals
Blue Card holders (Turkish citizens by birth, but released from citizenship by the Ministry of the Internal Affairs, and who can certify that their minor children who are registered in that permit are eligible for the rights stated in Law No. 5203)
Foreign nationals who became Turkish citizen afterward/dual citizens in the same status
Turkish nationals who completed the last three years of their secondary education (high school) in a foreign country excluding Turkish Republic of Northern Cyprus, (including those who completed their entire secondary education (high school) at Turkish schools in the presence of Ministry of National Education in a foreign country excluding Turkish Republic of Northern Cyprus) before 01 February 2013.
Turkish nationals who completed their entire secondary education (high school) in a foreign country excluding Turkish Republic of Northern Cyprus, (including those who completed their entire secondary education (high school) at Turkish schools in the presence of Ministry of National Education in a foreign country excluding Turkish Republic of Northern Cyprus) after 01 February 2013.
Turkish Republic of Northern Cyprus nationals who reside there and completed their secondary education there having a GCE AL certificate, and those, who registered to high schools in other countries between 2005-2010 and hold or will hold GCE AL certificate.
Who cannot apply?
Turkish nationals, who completed their entire secondary education in Turkey or in Turkish Republic of Northern Cyprus.
Turkish Republic of Northern Cyprus nationals (excluding the ones who completed their entire secondary education there having a GCEAL certificate, and those, who registered to high schools in other countries between 2005-2010 and hold or will hold GCE AL certificate)
Dual citizens who have a Turkish citizenship by birth. (excluding the ones who completed their entire secondary education in a foreign country excluding Turkish Republic of Northern Cyprus/ those who completed their entire secondary education at Turkish schools in a foreign country excluding Turkish Republic of Northern Cyprus)
Dual citizens who have a Turkish Republic of Northern Cyprus citizenship (excluding the ones who completed their entire secondary education there having a GCEAL certificate, and those, who registered to high schools in other countries between 2005-2010 and hold or will hold GCE AL certificate)
Turkish nationals or dual citizens, who have a Turkish citizenship by birth, that attend schools affiliated to the embassies in Turkey, and foreign high schools located in Turkey.
