Mathematical Sciences - Option in Mathematics of Finance And Actuarial Science

The undergraduate program in Mathematical Sciences with an option in Mathematics of Finance and Actuarial Science prepares students for the application of mathematics to financial management, market transactions, business analysis, investments, insurance and pensions. NJIT's Department of Mathematical Sciences is one of the few departments in New Jersey with a strong program in Mathematics of Finance and Actuarial Science..

Majors

The undergraduate curriculum provides students with training in a broad range of mathematical techniques and problem solving strategies. Students learn about the many facets of financial analysis through courses in Mathematics, Accounting, Economics, and Finance.A strong background in Computers and Scientific Computing make our students an even greater asset to the industry.

Double Majors

Students may earn a second major in addition to their primary major in Mathematical Sciences with an option in Mathematics of Finance and Actuarial Science.Two of the most popular double majors with the Mathematical Sciences major are the Computer Science (B.S.) major and the Biology (B.S.) major. Completion is usually feasible within four years of full-time study.

Contact the Department of Mathematical Sciences for a list of appropriate courses to complete a double major with the major in Mathematical Sciences with an option in Mathematics of Finance and Actuarial Science. For general rules about double majors, see Degree Options in the Academic Policies and Procedures section of this catalog.

The schedule of courses, as described below, is for students entering NJIT as freshmen in the fall of 2002 or after that date. Students entering before that date also are being moved into this new program, since this is feasible in most cases.  Please consult the Department of Mathematical Sciences if you have any questions regarding this new program.

B.S. in Mathematical Sciences with an option in Mathematics of Finance and Actuarial Science (124 credit minimum)

FIRST YEAR

1st Semester

Math 111       (Mathematics: GUR) Calculus I (4-1-4)

CIS 113         (Computer Science: GUR) Introduction to Computer Science I (3-1-3)

HSS 101        (English: GUR) Writing, Speaking, Thinking (3-0-3)

Phys 111        (Natural Sciences: GUR) Physics I (3-0-3)

Phys 111A     (Natural Sciences: GUR) Physics I Laboratory (0-2-1)

Frsh Sem        Freshman Seminar (1-0-0)

2nd Semester

Math 112      Calculus II (4-1-4)

CIS 114        Introduction to Computer Science II (3-1-3)

HSS 202       (Basic Social Sciences: GUR) Society, Technology, and Environment (3-0-3)

Phys 121       (Natural Sciences: GUR) Physics II (3-0-3)

Phys 121A     Physics II Laboratory (0-2-1)

Elective          (Cultural History: GUR) (3-0-3)

Elective          (Physical Education: GUR) (0-1-1)

SECOND YEAR

1st Semester

Math 213      Calculus III B (4-0-4)

Math 226      Discrete Analysis (4-0-4)

Math 244      (Mathematics: GUR) Introduction to Probability (3-0-3)

Acct 115      Principles of Accounting I (3-0-3)

Elective         (Cultural History: GUR) (3-0-3)

Elective         (Physical Education: GUR) (0-1-1)

2nd Semester

Math 222     Differential Equations (4-0-4)

Math 337     Linear Algebra (3-0-3)

CIS 105       Computer Programming (approved language) (1-1-1) 

SS 201         (Basic Social Sciences: GUR) Economics (3-0-3)

Elective        (Lit/Hist/Phil/STS: GUR) (3-0-3)

Elective        (Free) (3-0-3)

THIRD YEAR

1st Semester

Math 341 Introduction to Statistics (3-0-3)

Math 340     Applied Numerical Methods and Optimization (3-0-3)

CIS 461      Systems Simulation (3-0-3)

Elective        (Open- Humanities and Social Science: GUR) (3-0-3)

Elective        (Management: GUR) (3-0-3)

Elective         (Free) (3-0-3)

2nd Semester

Math 344Regression Analysis (3-0-3)

Math 346      Mathematics of Finance (3-0-3)

Math 334Operations Research (3-0-3)

Elective         (Capstone Seminar-Humanities and Social Science: GUR) (3-0-3)

Elective         (Free) (3-0-3)

FOURTH YEAR

1st Semester

Math 447   Applied Time Series Analysis (3-0-3)

Elective          (Engineering Technology: GUR) (3-0-3)

Elective          (Mathematics-400+) (3-0-3)

Elective          Option Elective (3-0-3)

2nd Semester

IE 440  Stochastic Models in Operations Research (3-0-3)

Elective          (Engineering Technology: GUR) (3-0-3)

Elective          (Mathematics-400+) (3-0-3)

Elective          Option Elective (3-0-3)

All electives are to be selected in consultation with an advisor from the Department of Mathematical Sciences.

Cultural History GUR: Take two of the courses, HSS 211 or HSS 212 or HSS 213; or an approved 200-level history course at Rutgers-Newark.

Lit/Hist/Phil/STS GUR: Students must take one 300-level course from any of the following disciplines: literature; history; philosophy; or science, technology, and society (STS); or an approved 300-level course at Rutgers-Newark.

Open Elective in Humanities and Social Science GUR: Students must take one 300-level course from any of the following disciplines: English (Eng); history (Hist); literature (Lit); philosophy (Phil); science, technology, and society (STS); social science (SS); or theater (Thtr). Students also may satisfy this requirement with Architectural History IV (Arch 382) or by taking an approved 300-level course at Rutgers-Newark.

Physical Education GUR: Students who register as full-time undergraduates for two or more consecutive semesters must take two PE courses, one of which must be a 100-level fitness core course. Students are urged to complete the requirement as soon as possible.

Basic Social Sciences GUR: Three of the required six credits in the basic social sciences must be taken in economics; acceptable courses are SS 201, Econ 265, or Econ 266. The remaining 3 credits may be satisfied by HSS 202, STS 257, or STS 258. Students also may take approved introductory courses in basic social sciences at Rutgers-Newark to fulfill this requirement.

Capstone Seminar in Humanities and Social Science GUR: All students, except those enrolled in the Honors College, take one of the following: HSS 403, HSS 404, HSS 405, HSS 406, HSS 407, HSS 408, HSS 409. Students enrolled in the Honors College take one from HSS 491H-499H.

Management GUR: Students take IE 492 or Mgmt 390.

Engineering Technology GUR: Two courses selected from among the following: any lower division or upper division courses in engineering (including EG, FED, and Mech courses); any upper division courses in architecture, computer science, or engineering technology, or MIS 345.

Mathematics and Free Electives: Consult the faculty advisor in the Department of Mathematical Sciences.

Refer to the General University Requirement section of this catalog for further information on electives.

Co-op

Co-op courses Math 310 and Math 410 are taken for degree credit and replace the technical electives or other courses approved by the faculty advisor in the Department of Mathematical Sciences, .