Frequently Asked Questions
This is a good place to start your exploration of the QF Program at Applied Mathematics and Statistics (AMS). A brief summary of the QF Program for potential students is available at the QF Chair, Prof Stan Uryasev's webpage.
General Information
- What is Quantitative Finance?
- What is the Stony Brook training in Quantitative Finance?
- How is this program different from similar programs in Financial Engineering, Computational Finance, etc?
Application and Admission Requirements
- How do I apply for admission to the program?
- What background do I need to be admitted the program?
Degree and Graduation Issues
- What degrees are offered by the program?
- Where can I find out information about degree requirements?
- Is it possible to get a degree studying part-time?
Points of Contact
- Whom do I contact to find out more about graduate admission?
General Information
What is Quantitative Finance?
Quantitative Finance is an applied science dealing with the application of Mathematics and Computer Science in the finance sector. The discipline is also known as Financial Mathematics, Financial Engineering and Computational Finance, depending upon the problems or techniques emphasized.
What is in the Stony Brook curriculum in Quantitative Finance?
The training in Quantitative Finance focuses on the following aspects:
- The required courses cover standard topics in QF including investment science, portfolio optimizations, financial time series, pricing theory, interest rate models, high-frequency trading, risk management and so on.
- Students can follow different course sequences to master their knowledge in different
areas of QF. Elective courses are split into five areas:
- A) Stochastic calculus, optimization and operations research
- B) Statistics and data analytics
- C) Computational methods and algorithms
- D) Advanced topics in risk management, high frequency trading
- E) Machine learning and big data
- QF Courses are taught by top academic professors and experienced financial practitioners. Students are exposed to various research and practical problems and can interact with both academic faculty and practitioners.
How is this program different from similar programs in Financial Engineering, Computational Finance, etc?
A strong background in Applied Mathematics and Statistics and the interdisciplinary nature of the AMS department gives students unusual advantages and flexibility; e.g. a student interested in portfolio management may work with a professor in Operations Research who specializes in Optimization. Another, who wishes to study methods for using market data to calibrate Options models might interact with a faculty member in Statistics. And a third, who wants to explore Parallel Computing in Monte Carlo techniques might work with a professor in Computational Applied Mathematics or Computer Science.
Application and Admission Requirements
How do I apply for admission to the program?
You can apply for admission using either of the following links: SBU Graduate School or the AMS Department.
What background do I need to be admitted to the program?
The main requirement to be accepted to the QF Program is a good knowledge of mathematics (calculus, probability, statistics and/or optimization). Truly exceptional students are accepted to the PhD program with financial support. For admissions to graduate studies in AMS, the student must have a bachelor's degree in Mathematics, Statistics, Engineering, Physical Sciences or Life/Social Sciences with a strong mathematics background. Additionally, foreign students must take a TOEFL exam (score ≥ 80 for Masters and ≥ 90 for PhD), as well as the GRE exam. See relevant webpages:
Degree and Graduation Requirements
What degrees are offered by the program?
AMS offers a BS, an MS and PhD degrees as well as Advanced Graduate Certificates in various fields. Various programs exist as tracks within the AMS Department and not as separate degree programs. Upon successful completion, you will be awarded a degree in Applied Mathematics and Statistics.
Where can I find out information about degree requirements?
The QF graduate webpage contains a list of courses and requirements for the QF track. The AMS MS Degree Requirements webpage has the course requirements for all of the tracks in the AMS Department.
There are no course requirements for the PhD, just a Qualifying Exam, a Preliminary
Exam, and a dissertation; for details about the PhD program, see PhD Degree Requirements.
Is it possible to get a degree studying part-time?
It is possible to be admitted as a Part-Time Student, however, there is no organized part-time program per se which will guarantee that all of the required classes are available in the evening. Thus, successful completion of the MS program will typically require some daytime classes.
Points of Contact
Who do I contact to find out more about graduate admission?
General inquiries about the AMS Department can be sent to (AMS at stonybrook.edu) or contact the Graduate Program Advisor, Prof. Hongshik Ahn at (Hongshik.Ahn at stonybrook.edu).
If you have general questions regarding your application to the AMS Dept, contract the Graduate Program Secretary, Christine Rota at (Christine.Rota at stonybrook.edu).
If you are currently an SBU student, please include your SBU ID number in your inquiry.
Who is the best person to talk to if I have specific questions about the program itself?
If you have a specific question about the QF Program, please contact the QF Chair Prof. Stan Uryasev at (Stanislav.Uryasev at stonybrook.edu).