Computational Finance
University of Illinois at Chicago

Computational Finance tracks are available at UIC, jointly through the Department of Mathematics, Statistics, and Computer Science (MSCS) and the Department of Finance. These tracks are available at the master's level in either the Master of Science Degree in the Mathematics and Information Science for Industry (MISI) Program or in the Master of Science Degree in Mathematics with a major concentration in the Applied Mathematics area. The differences are found in the table below. The Computational Finance track is also available at the Mathematics Ph.D. level, with doctoral work in Computational Finance arranged under the supervision of faculty in both MSCS and Finance.

Current Information Link:

Application Information Contact: Ms. Kari Dueball, Assistant Director of Graduate Studies, MSCS, e-mail:, phone: 312/996-3041.

Comparison of Suggested Computational Finance Tracks for Both M.S. Degree Programs:

Requirement M.S. in MISI M.S. in Math.
Conc. in Appl. Math.
Master's Exam or Project? Master's Project MCS 597 (2-4 credits)
    is the standard choice, or else
Master's Thesis MCS 598 (0-16 credits)
Master's Exam (AM Option)  
Program Core Courses MCS 401 Comp. Algorithms
MCS 471 Numerical Analysis
MCS 504 MISI Workshop
MCS 507 Math., Stat., & Sci.
(Math 589)
Math 417 Compl. Anal. Appl.
Math 480 Appl. Diff. Eqs.
Math 481 Appl. PDEs
Required Additional Courses*
      (4 credits each)
One MSCS 500 level
Two Approved 400/500 level
Three MSCS 500 level
Two 400/500 level,
selected from required list
Recommended Track Courses Math 586 Comp. Finance
Fin 551 Fin. Dec. Making
Math 586 Comp. Finance
Fin 551 Fin. Dec. Making
Recommended Elective Choices Fin 516 Th. Struct. Options.
Fin 571 Emp. Issues in Fin.
Math 590 (Prin. Fin. Math.)
Fin 516, Fin 571, MCS 471,
Math 584, MCS 571, Math 574,
Math 590 (Prin. Fin. Math.)
Required Credit Hours 32 32


Ph.D. Degree in Mathematics with Concentration in Applied Mathematics:

For the Ph.D. Degree, students must earn a high pass on the MSCS Master's Exam or equivalent, pass two doctoral preliminary exams (one should be the Mathematical Science Preliminary for the Computational Finance track), fulfill the Ph.D. thesis requirement, and earn 96 semester hours of graduate credit. The selection of recommended track and elective courses at the 500 level are the same as those for the Master's Degree with a concentration in Applied Mathematics using the Computational Finance track, but the student probably would be taking a much larger larger of these courses as well as other relevant courses in MSCS and Finance. Doctoral work can be arranged under the supervision of faculty in both MSCS and Finance. For more details, please link to:

Participating Faculty:

Recommended Computational Finance Track Courses: Other Collateral or Elective Courses for Computational Finance Track: