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Accelerated Master’s Degree Program (AMDP)

Overview

The Accelerated Master’s Degree Program (AMDP) is a unique opportunity for currently enrolled University of Michigan undergraduates majoring in Mathematics who wish to pursue a 5-year combined BS/MS in Quantitative Finance and Risk Management. The program allows students to take some of the required courses for the graduate program while they are still completing their undergraduate program and use up to 18 of those credits to work toward their graduate degree.

Prospective AMDP students will ideally begin the admissions process at the end of their junior year and submit a formal Graduate School application during their senior year. Admitted AMDP students will typically complete the undergraduate degree at the end of their senior year and complete the graduate degree at the end of their 5th year. However, there are other paths to th AMDP, as described in the Admissions Process section.

Those with questions about applying to the AMDP should email quantfinms@umich.edu. To join our mailing list and stay up-to-date on the application process, please fill out an inquiry form.

Coursework for the AMDP option

AMDP students must meet the course requirements for both the bachelor's degree and the master's degree, with up to 12 credits counting toward both. Students are carefully advised on a schedule of courses that enables them to complete both degrees with only one additional year of coursework.

Below is a sample program for a student who is completing the undergraduate program in Finance and Risk Management and who begins the AMDP application process as a junior. This student may double-count Math 472, Math 526, and one of the elective courses listed for the program to work toward both the undergraduate and graduate degrees.

The student would complete the remaining courses required for the Master’s degree in the fifth year as shown below.

Sample coursework for AMDP option

Fall (year 4) 
Math 526, Elective

Winter (year 4)
Math 472, Elective

Fall (year 5)
Stats 500, Math 573, Elective, Elective

Winter (year 5) 
Math 506, Math 574, Stats 509, Math 623

Admissions Process

1. Any current University of Michigan undergraduate Math student who meets the minimum requirements for admission and has taken double-countable coursework is eligible to apply for the AMDP.  For example, a Pure Math major who has taken Math 472 can apply for the AMDP using the Rackham Graduate Application during his or her senior year. The student would double-count Math 472 (3 credits) toward both degrees, and would then need to complete 33 credits to finish the master's degree, likely over the course of 3 terms. Prospective students who have taken any of the program's core courses should apply as AMDP applicants, even if they cannot double-count enough coursework to finish the master's program in 2 terms.

 

2. Students interested in the AMDP and wishing to complete the program in 1 year should contact the program by the end of their junior year to discuss the process.  

 

3. All AMDP applicants should apply to the program using the Rackham Graduate application in the winter of their senior year.

 

Rackham Graduate School Application

The application materials and deadlines are the same as for the freestanding master’s program with the exception that AMDP students must apply using the AMDP-designated Rackham application. The 2018 application will be available in September 2017 and will be due early in the Winter semester. The application requirements are as follows:

  • Rackham Online Application with fee. Some applicants may be eligible for an application fee waiver. More information is available on the Rackham Graduate School website. Please be sure to select the application for the Accelerated Master's Degree Program when applying for the program.
    • Statement of Purpose: The Statement of Purpose should be a concise, well-written essay about your mathematical background, your career goals, and how the Quantitative Finance and Risk Management Program will help you meet your career and educational objectives.
    • Personal Statement: This is different from the Statement of Purpose in that we ask that you write about things not captured by the application or the Statement of Purpose. Tell us about where you grew up, when you first decided you wanted to study mathematics, what challenges you faced and how you overcame them in your pursuit of mathematics.
    • Curriculum Vitae/Resume (4 page limit): Upload your curriculum vitae or resume that describes your education, work experience, research and teaching experience, professional affiliations, volunteer activity and community engagement, honors and awards.
    • Three letters of recommendation. Register your recommenders for the electronic Letters of Recommendation system in the online application. This is the preferred method of submission. If your recommender would prefer a paper copy of the Recommendation form (PDF format), it may be downloaded here..
    • Unofficial Transcripts: Upload all unofficial copies of your transcripts.
  • Official GRE General scores: Request ETS to send official scores directly to the Rackham Graduate School at the University of Michigan.
    • The ETS school code for the University of Michigan Rackham Graduate School is 1839.
    • The ETS code for the GRE test for Mathematics is 0703.
    • NOTE: The Mathematics Subject GRE is very useful for the admissions committee so it is highly recommended, but it is not required for this program.
  • Official Transcripts: If you have attended a post-secondary institution other than the University of Michigan-Ann Arbor, send one copy of all official transcripts to the Rackham Graduate School at the University of Michigan. Guidelines for what qualifies as an official transcript and how to submit official transcripts can be found here. The Rackham Graduate School will obtain a copy of your official University of Michigan-Ann Arbor transcript. You do not need to send it.
  • Non-native English speakers: As current University of Michigan undergraduates, AMDP applicants meet the Graduate School's requirements for demonstrating English proficiency. AMDP applicants do not need to retake the TOEFL or resubmit their scores.

Other Program Requirements

The following are additional requirements for completing the AMDP that prospective students should keep in mind.

  1. Students applying for the AMDP option must be enrolled as a U-M undergraduate Math majors and must have at least a 3.2 cumulative GPA. Students pursuing either a dual-degree or double major are not eligible.

  2. Students in the AMDP option must complete the undergraduate concentration and all requirements for the Bachelor’s degree. Students normally apply for the undergraduate degree at the end of the term in which they meet the degree requirements.

  3. Students in the AMDP option will begin graduate-level coursework in their fourth year of study. Students will enroll in Rackham in the fifth year of study and will have completed or be within 6 credit hours of completing the undergraduate degree.

  4. Students may transfer to the Master’s degree up to 6 credits for courses at the graduate level from U-M or other degree-granting universities with graduate degree programs; transfer credits may not be used toward any requirements for the undergraduate or other degrees. Students admitted to the AMDP will be carefully advised about which courses can be transferred toward the Master’s degree. Faculty will evaluate courses taken elsewhere to determine whether credit from such courses may be transferred.

  5. AMDP students may also double-count up to 12 credits used to meet the requirements of the undergraduate degree to also meet the Master’s degree requirements, for a total of 18 double-counted and transferred credits toward the 36 credits required for the degree. These students will dual enroll for courses that are being double-counted.

  6. For AMDP students, a maximum of 18 credits taken outside the year of Rackham registration may be allowed for the master’s degree, including credits that are double-counted or transferred.

  7. AMDP students must be registered for a minimum of 2 full terms and a minimum of 9 credits in Rackham with no other U-M registration.

  8. Students may meet the Graduate School’s four-credit cognate requirement by selecting elective courses from the approved list that are in departments other than Mathematics or Statistics. With the approval of the program director, Mathematics courses cross-listed with Industrial and Operations Engineering (IOE), and Statistics courses cross-listed with Economics may also be used to satisfy the cognate requirement. Other graduate work in a related area may also be used, with the approval of the program director.