UNC Charlotte M.S. in Mathematical Finance brochure

Master of Science in

MATHEMATICAL FINANCE

, KURT BOMBIEN 08 VICE PRESIDENT – CORPORATE TREASURY MIDDLE OFFICE BANK OF AMERICA When I started in the Mathematical Finance program at UNC Charlotte, I was interested in transitioning my career from engineering to the financial industry. Pairing the business background I gained from the program and my analytical skills, I was able to secure a position in banking halfway through the program. In my current position, I continue to leverage my understanding of financial derivatives to manage and improve treasury processes.

You’re a problem solver, with the analytical aptitude to navigate today’s complex financial services industry. You’re looking to broaden your knowledge base and advance your career.

Firms of all types - but especially financial institutions - rely on highly sophisticated mathematical models to identify, measure and manage risk. UNC Charlotte’s M.S. in Mathematical Finance program trains you to connect your quantitative skills to the world of finance. You’ll benefit from a program that was developed in collaboration with industry leaders to give you the essential knowledge needed to succeed in today’s fast-paced financial arena.

M.S. in MATHEMATICAL FINANCE

PUT YOUR FINANCIAL SKILLS TO THE TEST.

CHARLOTTE AT A GLANCE: • 2nd largest financial center in the U.S., with more than $2.2 trillion in assets.

• 16th largest city in the US. • Home to eight Fortune 500 headquarters and more than 930 global companies.

• The Charlotte region attracts nearly 100,000 newcomers each year.

A CITY ON THE RISE. A UNIVERSITY WITH VISION. Charlotte is a vibrant city, a modern and forward-looking business center that has transformed from a regional business hub to the second-largest financial services center in the United States.

Home to the global headquarters of eight Fortune 500 companies, the region has become a magnet for ambitious and aspiring young professionals from all over the globe. Beyond banking, opportunities for financial professionals can be found in industries as varied as healthcare, energy and retail/distribution.

Just as the city has evolved, so has UNC Charlotte. With innovative academic programs and research centers in its seven colleges, the university actively collaborates with local business leadership to incorporate emerging business trends, ideas and innovations into its academic programs.

Strategic vision, relentless drive and unbridled optimism have branded both the Charlotte region and UNC Charlotte as models of innovation and progress.

WHERE AMBITION MEETS OPPORTUNITY.

UNC CHARLOTTE CENTER CITY

SUCCESS HAS A NEW ADDRESS. NINTH AND BREVARD, TO BE EXACT.

In the Fall of 2011, UNC Charlotte opened the doors of its new Center City campus. Located in Charlotte’s vibrant business core, the 11-story facility serves as a hub connecting the business community to our students, faculty and alumni.

UNC Charlotte takes pride in developing academic programs that anticipate and respond to the evolving business environment. In 2003, the Belk College of Business began collaborating with the College of Liberal Arts and Sciences to develop the Mathematical Finance program.

Together, the two colleges worked with industry leaders to design this highly specialized program which meets the workforce needs of the increasingly complex financial services industry. To ensure that students are equipped with the essential knowledge needed to succeed in the ever-changing financial landscape, industry leaders continue to be actively involved in the content and delivery of the curriculum.

JOHN SHINER UNC Charlotte’s location and connections in a financial hub like Charlotte were two important factors that drew me to the Mathematical Finance program. As a student, I’ve gained valuable exposure to the business side of finance while strengthening the quantitative skills I’ll need to be successful in the finance industry.

The career development programs offered by the Belk College have helped me become a more well-rounded professional.

MODEL YOUR FINANCIAL FUTURE. Whether you’re a new graduate in finance or mathematics, refocusing your career, or transitioning into a new job, the M.S. in Mathematical Finance program at UNC Charlotte can help you kick start your career.

Developed as a collaboration between the Belk College of Business and the College of Liberal Arts & Sciences, the Mathematical Finance program at UNC Charlotte provides a balanced approach to broadening your understanding of financial modeling. As a student in the program, you’ll gain a solid background in finance while using your mathematical skills to identify, measure and manage risk.

The Mathematical Finance program at UNC Charlotte is designed to prepare students to pursue financial careers in a variety of industries.

Graduates of the program have gone onto careers in investment banking, financial modeling, software development, risk management, trading desk support and portfolio management.

The Mathematical Finance program is structured for both full-time and part-time students. Some of our students attend full-time and finish in 18 months. Working professionals who attend part-time usually take 24-36 months to complete the program.

Attending UNC Charlotte also makes good financial sense. In keeping with the tradition of the UNC system, we offer very affordable tuition rates for North Carolina residents. Out-of-state students also realize a tremendous economic value. Scholarships and assistantships are available for outstanding candidates.

In short, UNC Charlotte’s Mathematical Finance program is a top-quality graduate education with an outstanding return on your investment.

WITH OUR FACULTY, IT’S WHO YOU KNOW. AND WHAT THEY KNOW. DR. STEVEN CLARK

DR. MINGXIN XU

Associate Professor of Finance

Associate Professor of Mathematics & Statistics

Dr. Clark teaches a variety of courses in the M.S. in Mathematical Finance program at UNC Charlotte, including fixed income securities and credit risk, financial economic theory, and interest rate models and credit derivaties. His areas of expertise, which include securities and derivatives markets, asset pricing, financial risk management and applied probability, have been featured in Review of Derivatives Research, Review of Futures Markets and the Journal of Risk and Insurance. Dr. Clark was the 2011 recipient of the Belk College award for Excellence in Graduate Teaching.

Dr. Xu’s research work on risk measure, risk minimization, incomplete market derivative pricing and hedging, and optimal stopping problems, has been featured in the Journal of Applied Probability, Quantitative

Finance, Risk, Annals of Finance, Journal of Business and Entrepreneurship, Review of Futures Markets, and Mathematical Methods of Operations Research. In August

2005, she received a grant from the National Science Foundation on Risk Measure Pricing and Hedging from the Decision, Risk and Management Science Program. Dr. Xu has taught Stochastic Calculus for Finance and PDE for Finance courses in the Mathematical Finance Program.

DR. CRAIG DEPKEN

DR. TAO-HSIEN DOLLY KING

Professor of Economics

Professor of Finance / Rush S. Dickson Professor

Dr. Depken teaches a variety of applied economics courses, including econometrics, international economics, industrial organization and sports economics. He currently serves on the editorial boards of several journals and is the co-editor of Contemporary Economic Policy. Considered an expert in sports economics, Dr. Depken has been interviewed by The Wall Street Journal, Newsweek, Bloomberg Businessweek, The Economist, and ESPN.com. He is also a member of the Coweeta Long Term Ecological Research Project, funded by the National Science Foundation, which contributes original research in how local development and public policy impacts ecosystem services. In 2011, Dr. Depken was awarded the best paper in “Innovative Thinking” by the American Real Estate Society.

Dr. King is chair of the Department of Finance in the Belk College of Business. She teaches financial management, corporate finance, financial markets and instruments, and fixed income securities. Dr. King’s research in banking, financial management, and quantitative finance has been published in many top journals, including the Journal of

Finance, Journal of Business, Journal of Money, Credit and Banking and Financial Management. She has won several best paper and research awards for her work in corporate finance and fixed income securities.

ZHUOLI (KITTY) HUANG Because I was transitioning in my career, finding the right internship experience was crucial. The Math Finance program gave me the career development support I needed and helped me land an internship at a top financial-services company in Charlotte. I’m now able to leverage the financial modeling and risk management skills I’ve learned in the classroom to build professional experience, which should make me more competitive in the job market.

EXERCISE YOUR OPTIONS. A diploma will only get you so far. To compete in today’s highly competitive work environment, you’ll want to take advantage of professional development opportunities outside the classroom. The Belk College offers a wide array of programs for graduate students to help you be better positioned after graduation.

TECHNOLOGY RESOURCES

The Belk College Financial Trading Room offers students access to a Bloomberg Professional terminal, the industry standard source for news and data from financial markets around the world.

PROFESSIONAL DEVELOPMENT SEMINARS

Expand your knowledge base by attending the Belk College’s regular professional development seminars. Topics range from building your network and successfully marketing yourself to interviewing, negotiations and business etiquette.

NETWORKING

Build your personal and professional connections through a variety of networking programs, including guest speakers, panel discussions and social events for students and alumni. Student organizations also provide professional network-building and leadership opportunities.

CAREER COACHING

Define your professional development plan in one-on-one career counseling sessions. You and your career coach will explore personal and career development topics such as personal branding, managing your internship or job search, networking strategies and professional performance techniques.

, JACKI JENSENIUS 08 RISK MANAGEMENT CONSULTANT WELLS FARGO BANK, NA As an undergraduate math major, I was looking for a graduate program that would build on my “quant” skills and also provide practical applications for my interest in financial services. UNC Charlotte’s Math Finance program did both. The program gave me a strong foundation in finance while introducing me to the analytical and risk-management skills I use on a daily basis in my current position.

APPLY TODAY. MATHFINANCE.UNCC.EDU/INVEST

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mathfinance.uncc.edu/invest

UNC CHARLOTTE ADMISSIONS

M.S. in MATHEMATICAL FINANCE

UNC Charlotte seeks a diverse group of students for the M.S. in Mathematical Finance program. Applications are evaluated on a number of factors, including past academic performance, GRE/GMAT scores, and references.

Admission Requirements

Deadlines

The Mathematical Finance program admits students throughout the year on a rolling basis. Priority will be given to early applications. For application deadlines, visit graduateschool.uncc.edu.

• International students should refer to the International Admissions website for deadlines and additional admissions information.

• The application process is managed by the UNC Charlotte Graduate School and UNC Charlotte International Admissions Office.

• A baccalaureate degree in a related field with a GPA of at least 2.75 on a 4.0 scale, with an average of 3.0 in the junior and senior years.

• An official transcript of all previous academic work.

• Acceptable scores on each portion of the GRE, or a GMAT score with a minimum score of at least the 85th percentile on the math portion.

• At least three evaluations from persons familiar with the applicant’s professional and/or academic qualifications.

Specific course work equivalent to the following: introductory course in the Theory of Finance; a standard three-semester sequence in Calculus; Linear Algebra; Micro- and Macro-Economics; at least one upper-level course in Probability and Statistics. Applicants should also have a working knowledge of a suitable programming language. Students lacking this coursework may be admitted subject to the condition that they satisfactorily complete such coursework during the first two semesters they are enrolled in the program and prior to their taking any program courses where prerequisites are missing.

International Students

In addition to all the requirements listed above, international students must submit proof of proficiency in English in one of the following:

• TOEFL (Test of English as a Foreign Language): Minimum score is 220 for the computer-based test, or 83 for the Internet-based test.

• IELTS (International English Language Testing System): Minimum overall band score is 6.5.

• MELAB (Michigan English Language Battery): Minimum score is 78.

Application questions: Allison Brinkley | Admissions Counselor email: abrinkley@uncc.edu phone: 704.687.7267 Program questions: Dr. Weidong Tian | Program Director email: wtian1@uncc.edu phone: 704.687.7702 Elke Phillips | Associate Director, Graduate Student Services email: EMPhillips@uncc.edu phone: 704.687.7647

UNC CHARLOTTE CURRICULUM GUIDE

M.S. in MATHEMATICAL FINANCE

The UNC Charlotte M.S. in Mathematical Finance program offers students the flexibility to pursue the program full-time or part-time. The program is comprised of 30 graduate credit hours (ten classes) of advanced course work.

Preparatory Courses

Concentration Courses (12 credit hours)

The following specific coursework or its equivalent is required for graduate study in Mathematical Finance. With the director’s permission, students may enroll conditionally in the M.S. in Mathematical Finance program while completing preparatory courses, but are required to complete Calculus I and II prior to admission.

Students may choose one of three concentrations:

Course Title • Introductory course in the Theory of Finance • A standard three-semester sequence in Calculus (differential and integral) • Linear Algebra • Microeconomics and Macroeconomics • At least one upper-level course in Probability and Statistics • At least one programming language (preferably C or C++)

Core Courses (18 credit hours) Course Title • Financial Economic Theory • Financial Econometrics • Financial Elements of Derivatives • Fixed Income Securities and Credit Risk • Cross Section and Time Series Econometrics • Stochastic Calculus for Finance I

COMPUTATIONAL FINANCE • Numerical Methods for Financial Derivatives • Financial Computing • Stochastic Calculus for Finance II • Advanced Financial Derivatives RISK MANAGEMENT • Risk Management and Financial Institutions • Asset and Portfolio Management • Risk Management in Insurance Companies • Quantitative Risk Management FINANCIAL DATA ANALYTICS • Advanced Microeconometrics • Algorithm and Data Structures • Database Systems or Applied Databases • Business Intelligence and Analytics

UNC CHARLOTTE FINANCIAL INFORMATION

M.S. in MATHEMATICAL FINANCE

UNC Charlotte offers a variety of need- and merit-based financial awards for students entering the Mathematical Finance program.

For additional information and applications, visit mathfinance.uncc.edu.

Tuition

PART-TIME – Most North Carolina residents attending part-time take 6 credits (2 classes) per semester and pay approximately $23,000 in tuition and fees.

FULL-TIME – Most full-time North Carolina residents pay $19,500 (18 months) in tuition and fees based on their course load.

OUT-OF-STATE – Out-of-state domestic and international students pay $37,500 (18 months).

Academic Fellowships Selection based on financial need and/or academic merit (previous academic performance and GMAT score). All students admitted by March 15 will automatically be considered for fellowship awards. No additional application is required.

Graduate Assistantships Full-time students may work 20 hours per week in the Belk College of Business. All full-time students admitted by March 15 will automatically be considered for graduate assistantships. No additional application is required.

Loans Graduate students are guaranteed Stafford Loans by the federal government, regardless of income, if they are U.S. citizens or permanent residents (FAFSA required).