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Mathematics of Finance & Risk Management (Financial Mathematics) submajor

  2. Majors and Minors
  3. Departments and Units
  4. Courses
  5. LSA Degrees
  6. LSA Requirements
  7. LSA Academic Policies
  8. Dates and Deadlines
  9. Academic Integrity
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  12. What Will You Do with an LSA Degree?
Advising
Department Website

Mathematics (Major)

Effective Winter 2021

Advising

Appointments are scheduled online at: lsa.umich.edu/math/undergraduates.. Students are strongly urged to consult with a department advisor each term before selecting courses for the following term.

Grade Policies

All prerequisite courses must be satisfied with a grade of C– or above. Students with lower grades in prerequisite courses must receive special permission of the instructor to enroll in subsequent courses.

Major GPA Calculation

For purposes of calculating grade point average, the term "field of the major" means the following:

  1. All MATH courses.
  2. All courses used to meet requirements for the major.
  3. All required cognate courses (if any).
  4. All mandatory prerequisites.
  5. EECS 183
  6. ECON 101 and ECON 102 (actuarial mathematics submajor only).

Prerequisites

Most programs require completion of one of the sequences ending with MATH 215-217, 285-217, or 295-296. A working knowledge of a high-level computer language such as C++ or a computer algebra system (such as Maple or Mathematica), at a level equivalent to completion of a course of three or more credits, and eight credits of PHYSICS, preferably PHYSICS 140/141 and 240/241, are recommended for all programs and required for some. (A grade of C- or better is strongly suggested for MATH 217.)

Requirements

A student considering a major in Mathematics should consult a mathematics department advisor in the Undergraduate Mathematics Office as early as possible and certainly by the first term of the sophomore year. The department offers many different submajors with varying requirements; failure to meet some of these at the intended time may delay completion of the program and graduation. A plan for the major must be designed with and approved by a department advisor.

 

 

Residency

Minimum number of courses taken in residence for transfer students majoring in Mathematics (applies to all sub-plans) Students should take a minimum of 18 credits at the University of Michigan, Ann Arbor campus. Six of these credits must come from the basic courses and nine from the core courses and/or cognate courses. The 18 credits may include pre-requisites taken in Math.

Mathematics of Finance and Risk Management (Sub-Major)

Effective Winter 2021

Advising

Appointments are scheduled online at: lsa.umich.edu/math/undergraduates. Students are strongly urged to consult with a department advisor each term before selecting courses for the following term.

Grade Policies

All prerequisite courses must be satisfied with a grade of C– or above. Students with lower grades in prerequisite courses must receive special permission of the instructor to enroll in subsequent courses.

For purposes of calculating grade point average, the term "field of the major" means the following:

  1. All MATH courses.
  2. All courses used to meet requirements for the major.
  3. All required cognate courses (if any).
  4.  All mandatory prerequisites.
  5. ECON 101, ECON 102, and EECS 183

Prerequisites

Prerequisites for all Mathematics Majors

Completion of one of the sequences ending with MATH 215-217, 285-217, or 295-296. A working knowledge of a high-level computer language such as C++ or a computer algebra system (such as Maple or Mathematica), at a level equivalent to completion of a course of three or more credits, and eight credits of PHYSICS, preferably PHYSICS 140/141 and 240/241, are recommended for all programs and required for some. (A grade of C- or better is strongly suggested for MATH 217.)

Additional prerequisites for the Mathematics of Finance and Risk Management Submajor

MATH 215&217, 285&217 or MATH 295&296. Each student must also complete: ECON 101 and 102 and EECS 183 all elected on a graded basis. The grade for ECON 101, ECON 102, and EECS 183 will be included in the major GPA.

Requirements

A minimum of 10 courses, selected from the following:

  1. Four basic courses (one from each of the following four groups), completed with a grade of at least C-:
    1. Differential Equations:  MATH 286 or 316
    2. Probability: MATH 525
    3. Statistics: STATS 426
    4. Analysis: Math 351 or 451
  2. Four special courses for Financial Mathematics:
    MATH 423, MATH 474, MATH 472 (or 471), MATH 526.
  3. Two additional courses in areas relating to Financial Mathematics approved by an advisor.

Residency

Minimum number of courses taken in residence for transfer students majoring in Mathematics (applies to all sub-plans): Students should take a minimum of 18 credits at the University of Michigan, Ann Arbor campus. Six of these credits must come from the basic courses and nine from the core courses and/or cognate courses. The 18 credits may include pre-requisites taken in Math.

Distribution Policy

No course used to fulfill a major requirement may be used toward the LSA Distribution Requirement. In addition, courses in the MATH subject area may not be used toward the Distribution Requirement.

Mathematics of Finance and Risk Management (Sub-Major) (Winter 2020 - Fall 2020)

Mathematics (Major)

Effective Winter 2021

Advising

Appointments are scheduled online at: lsa.umich.edu/math/undergraduates.. Students are strongly urged to consult with a department advisor each term before selecting courses for the following term.

Grade Policies

All prerequisite courses must be satisfied with a grade of C– or above. Students with lower grades in prerequisite courses must receive special permission of the instructor to enroll in subsequent courses.

Major GPA Calculation

For purposes of calculating grade point average, the term "field of the major" means the following:

  1. All MATH courses.
  2. All courses used to meet requirements for the major.
  3. All required cognate courses (if any).
  4. All mandatory prerequisites.
  5. EECS 183
  6. ECON 101 and ECON 102 (actuarial mathematics submajor only).

Prerequisites

Most programs require completion of one of the sequences ending with MATH 215-217, 285-217, or 295-296. A working knowledge of a high-level computer language such as C++ or a computer algebra system (such as Maple or Mathematica), at a level equivalent to completion of a course of three or more credits, and eight credits of PHYSICS, preferably PHYSICS 140/141 and 240/241, are recommended for all programs and required for some. (A grade of C- or better is strongly suggested for MATH 217.)

Requirements

A student considering a major in Mathematics should consult a mathematics department advisor in the Undergraduate Mathematics Office as early as possible and certainly by the first term of the sophomore year. The department offers many different submajors with varying requirements; failure to meet some of these at the intended time may delay completion of the program and graduation. A plan for the major must be designed with and approved by a department advisor.

 

 

Residency

Minimum number of courses taken in residence for transfer students majoring in Mathematics (applies to all sub-plans) Students should take a minimum of 18 credits at the University of Michigan, Ann Arbor campus. Six of these credits must come from the basic courses and nine from the core courses and/or cognate courses. The 18 credits may include pre-requisites taken in Math.

Mathematics of Finance and Risk Management (Sub-Major)

Effective Winter 2020

Advising

Appointments are scheduled online at: lsa.umich.edu/math/undergraduates. Students are strongly urged to consult with a department advisor each term before selecting courses for the following term.

Grade Policies

All prerequisite courses must be satisfied with a grade of C– or above. Students with lower grades in prerequisite courses must receive special permission of the instructor to enroll in subsequent courses.

For purposes of calculating grade point average, the term "field of the major" means the following:

  1. All MATH courses.
  2. All courses used to meet requirements for the major.
  3. All required cognate courses (if any).
  4.  All mandatory prerequisites.
  5. ECON 101, ECON 102, and EECS 183

Prerequisites

Prerequisites for all Mathematics Majors

Completion of one of the sequences ending with MATH 215-217, 256-217, 285-217, or 395-396. A working knowledge of a high-level computer language such as C++ or a computer algebra system (such as Maple or Mathematica), at a level equivalent to completion of a course of three or more credits, and eight credits of PHYSICS, preferably PHYSICS 140/141 and 240/241, are recommended for all programs and required for some. (A grade of C- or better is strongly suggested for MATH 217.)

Additional prerequisites for the Mathematics of Finance and Risk Management Submajor

MATH 215&217, 255&217, 285&217 or MATH 295&296. Each student must also complete: ECON 101 and 102 and EECS 183 all elected on a graded basis. The grade for ECON 101, ECON 102, and EECS 183 will be included in the major GPA.

Requirements

A minimum of 10 courses, selected from the following:

  1. Four basic courses (one from each of the following four groups), completed with a grade of at least C-:
    1. Differential Equations:  MATH 286 or 316
    2. Probability: MATH 425
    3. Statistics: STATS 426
    4. Analysis: Math 351 or 451
  2. Four special courses for Financial Mathematics:
    MATH 423, MATH 472 (or 471), MATH 525, MATH 526.
  3. Two additional courses in areas relating to Financial Mathematics approved by an advisor.

Residency

Minimum number of courses taken in residence for transfer students majoring in Mathematics (applies to all sub-plans): Students should take a minimum of 18 credits at the University of Michigan, Ann Arbor campus. Six of these credits must come from the basic courses and nine from the core courses and/or cognate courses. The 18 credits may include pre-requisites taken in Math.

Distribution Policy

No course used to fulfill a major requirement may be used toward the LSA Distribution Requirement. In addition, courses in the MATH subject area may not be used toward the Distribution Requirement.

Mathematics of Finance and Risk Management (Sub-Major) (Fall 2019)

Mathematics (Major)

Effective Winter 2021

Advising

Appointments are scheduled online at: lsa.umich.edu/math/undergraduates.. Students are strongly urged to consult with a department advisor each term before selecting courses for the following term.

Grade Policies

All prerequisite courses must be satisfied with a grade of C– or above. Students with lower grades in prerequisite courses must receive special permission of the instructor to enroll in subsequent courses.

Major GPA Calculation

For purposes of calculating grade point average, the term "field of the major" means the following:

  1. All MATH courses.
  2. All courses used to meet requirements for the major.
  3. All required cognate courses (if any).
  4. All mandatory prerequisites.
  5. EECS 183
  6. ECON 101 and ECON 102 (actuarial mathematics submajor only).

Prerequisites

Most programs require completion of one of the sequences ending with MATH 215-217, 285-217, or 295-296. A working knowledge of a high-level computer language such as C++ or a computer algebra system (such as Maple or Mathematica), at a level equivalent to completion of a course of three or more credits, and eight credits of PHYSICS, preferably PHYSICS 140/141 and 240/241, are recommended for all programs and required for some. (A grade of C- or better is strongly suggested for MATH 217.)

Requirements

A student considering a major in Mathematics should consult a mathematics department advisor in the Undergraduate Mathematics Office as early as possible and certainly by the first term of the sophomore year. The department offers many different submajors with varying requirements; failure to meet some of these at the intended time may delay completion of the program and graduation. A plan for the major must be designed with and approved by a department advisor.

 

 

Residency

Minimum number of courses taken in residence for transfer students majoring in Mathematics (applies to all sub-plans) Students should take a minimum of 18 credits at the University of Michigan, Ann Arbor campus. Six of these credits must come from the basic courses and nine from the core courses and/or cognate courses. The 18 credits may include pre-requisites taken in Math.

Mathematics of Finance and Risk Management (Sub-Major)

Effective Fall 2019

Advising

Appointments are scheduled online at: lsa.umich.edu/math/undergraduates. Students are strongly urged to consult with a department advisor each term before selecting courses for the following term.

Grade Policies

All prerequisite courses must be satisfied with a grade of C– or above. Students with lower grades in prerequisite courses must receive special permission of the instructor to enroll in subsequent courses.

For purposes of calculating grade point average, the term "field of the major" means the following:

  1. All MATH courses.
  2. All courses used to meet requirements for the major.
  3. All required cognate courses (if any).
  4.  All mandatory prerequisites.
  5. EECS 183

Prerequisites

Prerequisites for all Mathematics Majors

Completion of one of the sequences ending with MATH 215-217, 256-217, 285-217, or 395-396. A working knowledge of a high-level computer language such as C++ or a computer algebra system (such as Maple or Mathematica), at a level equivalent to completion of a course of three or more credits, and eight credits of PHYSICS, preferably PHYSICS 140/141 and 240/241, are recommended for all programs and required for some. (A grade of C- or better is strongly suggested for MATH 217.)

Additional prerequisites for the Mathematics of Finance and Risk Management Submajor

MATH 215&217, 255&217, 285&217 or MATH 295&296. Each student must also complete: ECON 101 and 102 and EECS 183 all elected on a graded basis. The grade for ECON 101, ECON 102, and EECS 183 will be included in the major GPA.

Requirements

  1. Four basic courses (one from each of the following four groups), completed with a grade of at least C-:
    1. Differential Equations:  MATH 286 or 316
    2. Probability: MATH 425
    3. Statistics: STATS 426
    4. Finance: MATH 423
  2. Four special courses for Financial Mathematics:
    MATH 351 (or 451), MATH 472 (or 471), MATH 525, MATH 526.
  3. Two additional courses in areas relating to Financial Mathematics approved by an advisor.

Residency

Minimum number of courses taken in residence for transfer students majoring in Mathematics (applies to all sub-plans): Students should take a minimum of 18 credits at the University of Michigan, Ann Arbor campus. Six of these credits must come from the basic courses and nine from the core courses and/or cognate courses. The 18 credits may include pre-requisites taken in Math.

Distribution Policy

No course used to fulfill a major requirement may be used toward the LSA Distribution Requirement. In addition, courses in the MATH subject area may not be used toward the Distribution Requirement.

Mathematics of Finance and Risk Management (Sub-Major) (Fall 2017 - Summer 2019)

Mathematics (Major)

Effective Winter 2021

Advising

Appointments are scheduled online at: lsa.umich.edu/math/undergraduates.. Students are strongly urged to consult with a department advisor each term before selecting courses for the following term.

Grade Policies

All prerequisite courses must be satisfied with a grade of C– or above. Students with lower grades in prerequisite courses must receive special permission of the instructor to enroll in subsequent courses.

Major GPA Calculation

For purposes of calculating grade point average, the term "field of the major" means the following:

  1. All MATH courses.
  2. All courses used to meet requirements for the major.
  3. All required cognate courses (if any).
  4. All mandatory prerequisites.
  5. EECS 183
  6. ECON 101 and ECON 102 (actuarial mathematics submajor only).

Prerequisites

Most programs require completion of one of the sequences ending with MATH 215-217, 285-217, or 295-296. A working knowledge of a high-level computer language such as C++ or a computer algebra system (such as Maple or Mathematica), at a level equivalent to completion of a course of three or more credits, and eight credits of PHYSICS, preferably PHYSICS 140/141 and 240/241, are recommended for all programs and required for some. (A grade of C- or better is strongly suggested for MATH 217.)

Requirements

A student considering a major in Mathematics should consult a mathematics department advisor in the Undergraduate Mathematics Office as early as possible and certainly by the first term of the sophomore year. The department offers many different submajors with varying requirements; failure to meet some of these at the intended time may delay completion of the program and graduation. A plan for the major must be designed with and approved by a department advisor.

 

 

Residency

Minimum number of courses taken in residence for transfer students majoring in Mathematics (applies to all sub-plans) Students should take a minimum of 18 credits at the University of Michigan, Ann Arbor campus. Six of these credits must come from the basic courses and nine from the core courses and/or cognate courses. The 18 credits may include pre-requisites taken in Math.

Mathematics of Finance and Risk Management (Sub-Major)

Effective Fall 2017

Advising

Appointments are scheduled online at: lsa.umich.edu/math/undergraduates. Students are strongly urged to consult with a department advisor each term before selecting courses for the following term.

Grade Policies

All prerequisite courses must be satisfied with a grade of C– or above. Students with lower grades in prerequisite courses must receive special permission of the instructor to enroll in subsequent courses.

For purposes of calculating grade point average, the term "field of the major" means the following:

  1. All MATH courses.
  2. All courses used to meet requirements for the major.
  3. All required cognate courses (if any).
  4.  All mandatory prerequisites.
  5. EECS 183

Prerequisites

Prerequisites for all Mathematics Majors

Completion of one of the sequences ending with MATH 215-217, 256-217, 285-217, or 395-396. A working knowledge of a high-level computer language such as C++ or a computer algebra system (such as Maple or Mathematica), at a level equivalent to completion of a course of three or more credits, and eight credits of PHYSICS, preferably PHYSICS 140/141 and 240/241, are recommended for all programs and required for some. (A grade of C- or better is strongly suggested for MATH 217.)

Additional prerequisites for the Mathematics of Finance and Risk Management Submajor

MATH 215&217, 255&217, 285&217 or MATH 295&296. Each student must also complete: ECON 101 and 102 and EECS 183 all elected on a graded basis. The grade for ECON 101, ECON 102, and EECS 183 will be included in the major GPA.

Requirements

  1. Four basic courses (one from each of the following four groups), completed with a grade of at least C-:
    1. Differential Equations:  MATH 286 or 316
    2. Probability: MATH 425
    3. Statistics: STATS 426
    4. Finance: MATH 423
  2. Four special courses for Financial Mathematics:
    MATH 451, MATH 472 (or 471), MATH 525, MATH 526.
  3. Two additional courses in areas relating to Financial Mathematics approved by an advisor.

Residency

Minimum number of courses taken in residence for transfer students majoring in Mathematics (applies to all sub-plans): Students should take a minimum of 18 credits at the University of Michigan, Ann Arbor campus. Six of these credits must come from the basic courses and nine from the core courses and/or cognate courses. The 18 credits may include pre-requisites taken in Math.

Distribution Policy

No course used to fulfill a major requirement may be used toward the LSA Distribution Requirement. In addition, courses in the MATH subject area may not be used toward the Distribution Requirement.

Mathematics of Finance and Risk Management (Sub-Major) (Winter 2014 - Summer 2017)

Mathematics (Major)

Effective Winter 2021

Advising

Appointments are scheduled online at: lsa.umich.edu/math/undergraduates.. Students are strongly urged to consult with a department advisor each term before selecting courses for the following term.

Grade Policies

All prerequisite courses must be satisfied with a grade of C– or above. Students with lower grades in prerequisite courses must receive special permission of the instructor to enroll in subsequent courses.

Major GPA Calculation

For purposes of calculating grade point average, the term "field of the major" means the following:

  1. All MATH courses.
  2. All courses used to meet requirements for the major.
  3. All required cognate courses (if any).
  4. All mandatory prerequisites.
  5. EECS 183
  6. ECON 101 and ECON 102 (actuarial mathematics submajor only).

Prerequisites

Most programs require completion of one of the sequences ending with MATH 215-217, 285-217, or 295-296. A working knowledge of a high-level computer language such as C++ or a computer algebra system (such as Maple or Mathematica), at a level equivalent to completion of a course of three or more credits, and eight credits of PHYSICS, preferably PHYSICS 140/141 and 240/241, are recommended for all programs and required for some. (A grade of C- or better is strongly suggested for MATH 217.)

Requirements

A student considering a major in Mathematics should consult a mathematics department advisor in the Undergraduate Mathematics Office as early as possible and certainly by the first term of the sophomore year. The department offers many different submajors with varying requirements; failure to meet some of these at the intended time may delay completion of the program and graduation. A plan for the major must be designed with and approved by a department advisor.

 

 

Residency

Minimum number of courses taken in residence for transfer students majoring in Mathematics (applies to all sub-plans) Students should take a minimum of 18 credits at the University of Michigan, Ann Arbor campus. Six of these credits must come from the basic courses and nine from the core courses and/or cognate courses. The 18 credits may include pre-requisites taken in Math.

Mathematics of Finance and Risk Management (Sub-Major)

Effective Winter 2014

Advising

Appointments are scheduled online at: www.math.lsa.umich.edu/undergrad/. Students are strongly urged to consult with a department advisor each term before selecting courses for the following term.

Grade Policies

All prerequisite courses must be satisfied with a grade of C– or above. Students with lower grades in prerequisite courses must receive special permission of the instructor to enroll in subsequent courses.

Prerequisites

MATH 215&217, 255&217, 285&217 or MATH 295&296. Each student must also complete: ECON 101 and 102 and EECS 183 all elected on a graded basis. The grade for ECON 101, ECON 102, and EECS 183 will be included in the major GPA.

Requirements

  1. Four basic courses (one from each of the following four groups), completed with a grade of at least C-:
    1. Differential Equations: MATH 216, 256, 286, or 316
    2. Probability: MATH 425
    3. Statistics: STATS 426
    4. Finance: MATH 423
  2. Four special courses for Financial Mathematics:
    MATH 451, MATH 472 (or 471), MATH 525, MATH 526.
  3. Two additional courses in areas relating to Financial Mathematics approved by an advisor.

Residency

Minimum number of courses taken in residence for transfer students majoring in Mathematics (applies to all sub-plans): Students should take a minimum of 18 credits at the University of Michigan, Ann Arbor campus. Six of these credits must come from the basic courses and nine from the core courses and/or cognate courses. The 18 credits may include pre-requisites taken in Math.

Distribution Policy

No course used to fulfill a major requirement may be used toward the LSA Distribution Requirement. In addition, courses in the MATH subject area may not be used toward the Distribution Requirement.
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