Admission Requirements

In addition to the general requirements for admission to the Graduate School, the following are required for admission to the Master of Science in Mathematical Finance program.

1. A baccalaureate degree in a related field with a minimum GPA of 3.0 on a 4.0 scale.
2. Acceptable scores on each portion of the GRE or GMAT.
3. For applicants from non-English speaking countries, a language requirement score of 557 on the TOEFL or 220 on the new computer-based TOEFL or 78% on the MELAB. Non-native speakers of English, may, at the discretion of either the Graduate School or the Program Committee for the MS in Mathematical Finance, be required to enroll in English as a Second Language (ESL) courses at the English Language Training Institute.
4. Specific coursework equivalent to the following: introductory course in the Theory of Finance; a standard two-semester sequence in Calculus; Linear algebra; and at least one upper-level course in Probability and Statistics.  Students are strongly recommended to be familiar with at least one programming language, most preferably C or C++.  Students lacking this coursework may be admitted subject to the condition that they satisfactorily complete such coursework during the first two semesters that they are enrolled in the program and prior to their taking any program courses where prerequisites are missing.

GMAT/GRE Waiver

The GMAT/GRE application requirement may be waived for applicants meeting the following criteria:

• Early Entry Applicants - undergraduate GPA of 3.2 or above, with grades of A or B in Economics, Math, Stats, and/or Finance courses
• General Applicants - a minimum of three years of domestic work experience in finance, quantitative analysis, computer science or other highly quantitative/analytical field with an undergraduate GPA of 3.0. OR five or more years of international work experience in finance, quantitative analysis, computer science, or other highly quantitative/analytical field with a minimum 3.0 UGPA
• Graduate Certificate in Applied Econometrics Certificate or M.S. in Economics students who have completed a minimum of two courses earning grades of B or above, and have a graduate GPA of 3.0 or above.

The waiver must be requested from the M.S. in Mathematical Finance Graduate Program Director when submitting the completed application.  All GMAT/GRE waivers are at the discretion of the Graduate Program Director.  If candidates are unable to secure the GMAT/GRE waiver, they are required to submit official GMAT/GRE test scores in their M.S. in Mathematical Finance program application.

Prerequisite Requirements

Students may enter this program from a variety of undergraduate backgrounds, including finance, mathematics, economics, computer science, actuarial science, statistics, information systems and engineering.  As a result, many students admitted will not have the required background to immediately begin taking advanced courses from each of three areas of study.  In such cases, the student may be required to take prerequisite courses prior to enrolling in advanced courses in specific fields.  These prerequisites would be in addition to the advanced 30 credit hours required for the degree.  In general students must have the following background in each field before taking advanced courses in that field:

1. Finance:  Have earned an acceptable grade in an introductory course in finance from an AACSB-accredited business school at either the undergraduate or MBA level.
2. Economics:  Have earned an acceptable grade in microeconomics at either the undergraduate or MBA level.
3. Mathematics:  Have earned acceptable grades in the equivalent of a two course sequence in calculus (differential and integral calculus), a course in linear algebra, and an upper-level course in probability and statistics.

Students are strongly recommended to be familiar with at least one programming language, most preferably C or C++.  Again, students may be admitted to the program without meeting all of these requirements.  The Program Director, in conjunction with the Departmental Graduate Coordinators, will evaluate each incoming student’s academic background to determine in which prerequisite courses the student will be required to enroll.  A student who meets the prerequisites in a field may begin taking advanced courses in that field while still taking prerequisite courses in another field.  A student must, however, be making satisfactory progress toward fulfilling his or her prerequisites in all fields to remain enrolled in the program.

Early Entry Program

Exceptional undergraduate students at UNC Charlotte may apply for the Early Entry Program and begin work toward the graduate degree before completion of the baccalaureate degree.  See the Undergraduate Catalog for details and requirements.  Also see the Degree Requirements and Academic Policies  section of the Graduate Catalog for more information about Early Entry Programs.

Accelerated Master’s Program

Academically talented high school seniors and UNC Charlotte undergraduate freshmen are encouraged to apply for the Accelerated Master’s Program to begin work toward both undergraduate and graduate degrees in their Freshman year.  See the Undergraduate Catalog for details and requirements.  Also see the Degree Requirements and Academic Policies  section of the Graduate Catalog for more information about Accelerated Master’s Programs.

Degree Requirements

A minimum of 30 credit hours of coursework beyond the bachelor’s degree is required to earn the M.S. in Mathematical Finance degree.  Students must complete the required six Program Core courses and four Concentration courses corresponding with the selected concentration. 

Degree Total = 30 Credit Hours

Advising

Advising is done by the Program Director, in conjunction with the Area Coordinators of each of the participating Departments.

Assistantships

A number of assistantships are available each year. In order to be competitive, applications should be submitted by March 15. Additional information is available from the Program Director.

Comprehensive Examination

Student will be required to pass a comprehensive examination. An examining committee will be appointed by the program director and will be constituted from the program’s faculty. The exam may be, at the committee’s discretion, either written or oral.

Application for Degree

Each student should make application for his/her degree by completing the online Application for Degree through Banner Self Service no later than the filing date specified in the University Academic Calendar.

Transfer Credit

No more than 6 credit hours and only courses with a grade of A or B at an accredited institution. Requires the recommendation of the Program Director and approval of the Graduate School.