Quantitative Finance

This concentration combines financial theory with a solid grounding in quantitative methods. Recent innovations in financial markets have led to an increased demand for analytically skilled professionals. Understanding pricing models in derivatives and other exotic securities requires knowledge in finance and also statistics, stochastic processes and differential equations.

Coursework

Quantitative finance has more required courses than the other concentrations. However, some of the courses can count to fulfill upper-level liberal arts requirements. The School of Management only considers students with a cumulative GPA of 3.5 or higher for the quantitative finance concentration, as well as a grade of B or higher in FIN 311.

The current schedule for these courses is available in the Schedule of Classes on the BU Brain. Descriptions of courses are listed in the Binghamton University Bulletin and course descriptions for the upcoming semester are available on the BU Brain.

Here's a sample of courses you can take to fulfill this concentration. Contact Academic Advising for the most updated list of core courses and electives.

Required coursework

MATH 224 & MATH 225 are Calculus I, and MATH 226 & MATH 227 are Calculus II

• MATH 224 - Differential Calculus

  This is a 2-credit course in differential calculus covering limits, continuity, and differentiation. Prerequisites: MATH 223 with a grade of C- or better, or Placement Exam. Offered each half semester. 2 credits. Levels: Undergraduate

• MATH 225 - Integral Calculus

  This is a 2-credit course in integral calculus covering optimization and integration. Prerequisites: MATH 224 with a grade of C- or better. Offered 2nd half of fall semester and both half semesters of spring semester. 2 credits. Levels: Undergraduate

• MATH 226 - Integration Tech & Application

  This is a 2-credit course covering the calculus of transcendental & inverse functions, L’Hospital’s Rule, integral techniques, improper integrals, calculus of parametric curves, and polar coordinates. Prerequisites: Math 225 with a grade of at least a C- or consent of instructor. 2 credits. Levels: Undergraduate

• MATH 227 - Infinite Series

  This is a 2-credit course covering sequences, series, power series, and Taylor series. Prerequisites: Math 226 with a grade of at least a C- or consent of instructor. 2 credits. Levels: Undergraduate

• MATH 304 - Linear Algebra

  Vector spaces, linear transformations, determinants, characteristic values, inner products. Prerequisites: C- or better in MATH 225. Every semester. 4 credits. Levels: Graduate, Undergraduate

• ECON 466 - Introduction To Econometrics

  Econometric techniques necessary for understanding economic literature; application of these techniques. Treatment of multiple regression and multicolinearity; introduction to simultaneous equations systems; additional topics, such as identification, autocorrelation, errors in variables, use of computers in econometric research. Prerequisites: College-level Statistics, and College-level Calculus (MATH 220 or 224/225). Recommended prerequisites: ECON 360 or 362. BA majors in Economics may not use both this course and ECON 464 to fulfill the required three courses numbered 400-489. Offered each semester. 4 Cr. Levels: Undergraduate

• FIN 322 - Investments

  Various institutional, analytical and pragmatic aspects of security analysis and investment management, securities markets, sources of investment information, bond and stock valuation models, risk return analysis, behavior of security prices, portfolio management, and capital market theory. 4 credits. Prerequisites: FIN 311. Traditionally offered fall and spring semesters Levels: Undergraduate

• FIN 450 - Derivatives

  Introduction to and a comprehensive analysis of the derivatives markets in the U.S. Topics include discussions of options, futures, swaps and futures markets. 4 credits. Prerequisites: FIN 311, 322. Traditionally offered spring semesters. Levels: Undergraduate

• FIN 465 - Arbitrage Strategies

  This is an advanced, research based, seminar course targeted at students majoring in Accounting and/or Finance. It teaches students to apply the latest research techniques used in research. The skills taught in this course are used in research related jobs in auditing, consulting, corporate finance, forensic accounting, hedge funds, investment banking, quantitative financial analysis, securities litigation consulting, etc. The course builds upon accounting and finance concepts covered in the introductory classes. 4 credits. Prerequisits: FIN 311 and FIN 322. Traditionally offered fall semesters. Levels: Undergraduate

• FIN 475 - Financial Technology

  Levels: Graduate, Undergraduate

Electives

Select one of the following. Select special topics courses available - please see finance faculty or advising for approval.

• FIN 324 - Corporate Finance

  An in-depth examination of valuation and financial decision making in the corporate setting, including some case analysis. Topics generally include capital market efficiency, required rates of returns, options in the corporate setting, long-term investments, capital structure, financial planning and dividend policy. 4 credits. Prerequisites: Fin 311. Traditionally offered fall and spring semesters Levels: Undergraduate

• FIN 430 - Financial Statement Analysis

  This course is about the analysis of financial information - particularly firms' financial statements - for making decisions to invest in businesses. The primary focus is on equity valuation, with some attention given to credit analysis and the valuation of debt. The methods of fundamental analysis will be examined in detail and applied in cases and projects involving publicly traded companies. Topics include models of shareholder value, a comparison of accrual accounting and discounted cash flow approaches to valuation, the analysis of profitability, growth and valuation generation in a firm, diagnosing accounting quality, forecasting earnings and cash flows, pro-forma analysis for strategy and planning, and the determination of price/earnings (P/E) and market-to-book (P/B) ratios. 4 credits. Prerequisites: FIN 311 and FIN 324. Traditionally offeredfall semester. Levels: Undergraduate Prerequisites: Pre-Reqs for FIN 430 General Requirements: (  Course or Test: FIN 311 Minimum Grade of D May not be taken concurrently.  )or(  Course or Test: FIN 311 Minimum Grade of *TD May not be taken concurrently. )

• FIN 440 - Fixed Income Securities

  The aim of this course is twofold. First, we examine institutional features of the markets for Treasury debt, agency debt, corporate debt, tax-exempt debt, and lottery bonds. Second, we introduce students to bond mathematics and outline the principles behind the most widely used bond valuation models. Traditionally offered spring semester. 4 credits Levels: Undergraduate

After You Graduate

Students who pursue a quantitative finance concentration will be on track for placement at investment banks. Investment banks help companies and governments issue securities, help investors purchase securities, manage financial assets, trade securities and provide financial advice. The leading investment banks — including Merrill Lynch, Salomon Smith Barney, Morgan Stanley Dean Witter, Chase H&Q and Goldman Sachs — have hired our students.