Master in Financial Mathematics

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.