Program Overview

Integrated PhD in Financial Mathematics

The Integrated PhD in Financial Mathematics is a comprehensive program that requires students to complete at least 42 credit units of coursework, seminar, and research methods and ethics units. In addition to the coursework, students must prepare and successfully defend a PhD thesis.

Program Structure

The expected duration to complete the PhD program is 10 semesters, with a maximum duration of 14 semesters. Students are expected to complete their coursework, including non-credit courses, within 6 semesters. Advisor appointment must be made at the beginning of the 2nd semester.

Recommended Curriculum

The recommended curriculum is as follows:

• Semester I:
  • IAM521 Financial Management
  • IAM541 Probability Theory
  • IAM530 Elements of Probability and Statistics
• Semester II:
  • IAM520 Financial Derivatives
  • IAM522 Stochastic Calculus for Finance
  • IAM524 Financial Economics
• Semester III:
  • BA5814 Investment Management
  • IAM615 Advanced Stochastic Calculus for Finance
  • IAM600 PhD Thesis (Advisor Appointment)
  • Elective Course
• Semester IV:
  • IAM600 PhD Thesis
  • IAM698 Research Methods and Ethics
  • Elective Course
  • Elective Course
  • Elective Course
• Semester V:
  • IAM600 PhD Thesis
  • IAM690 Graduate Seminar (0-Credit)
  • Elective Course
  • Elective Course
• Semester VI-XIV:
  • IAM600 PhD Thesis and Qualifying Exam

PhD Qualification Exam

The PhD Qualification Exam must be taken by the latest the 7th semester.

Scientific Preparation Program

For students who are required to take the Scientific Preparation Program, the required courses are as follows:

• Scientific Preparation I:
  • IAM521 Financial Management
  • IAM541 Probability Theory
  • IAM530 Elements of Probability and Statistics
• Scientific Preparation II:
  • IAM520 Financial Derivatives
  • IAM522 Stochastic Calculus for Finance
  • IAM524 Financial Economics

Rules and Regulations

To pass the scientific preparation program successfully, students should get at least a CB grade in all SP courses.