Online PhD in Mathematics with Focus on Computational Finance

The online doctoral program in mathematics with focus on computational finance is designed to prepare students with the skills and knowledge they will need to pursue top level and management careers in the business and finance industries. The study plan for earning a online PhD in mathematics with focus on computational finance is research intensive and generally can take students up to six years to complete. Students taking courses in the best online doctoral programs in mathematics with focus on computational finance will study financial planning, investments, risk management, and economic and market systems and how they function with other organizations. Some of the courses involved for studying the online doctorate degree in mathematics with focus on computational finance include financial decision making, financial markets, international finance, and corporate financial management. Throughout the course of earning the mathematics with focus on computational finance PhD online, students will be responsible for conducting research on mathematical and finance theories and models, observing practices in financial and business settings, doing extensive reading and writing with relation to finance, and completing a dissertation. A dissertation is a book type analysis and findings of finance practices in the field and their relation to the industry with information generated on behalf of the student.

About Online PhD Programs in Mathematics with Focus on Computational Finance

An online PhD in mathematics with focus on computational finance is an excellent route for committed students seeking to guide and direct financial processes and policies for the future. Individuals that wish to pursue a online doctorate in mathematics with focus on computational finance should be heavily math oriented and have a passion for all things money related. Candidates for an online mathematics with focus on computational finance doctorate should also have analytical minds that are drawn to problem-solving and giving government and business leaders new tools in the financial field, while delivering guidance to those who seek to implement their solutions to meet business needs. Those completing online PhD degrees in mathematics with focus on computational finance will explore the central statistical, mathematical, and econometric requirements for quantitative management of financial investments. In order to learn the skills students will need to excel in the field, students will be required to take part in course assignments, research papers, projects, and exams. For example, a student in the online PhD program in mathematics with focus on computational finance may be required to write a major collaborative paper on the practices of the financial market or critique a specific financial theory or research article.

Year One:

  • Management in Human and Societal Development. This course is intended to help students learn about the wide variety of resources that are available to them and how to utilize them. Students will explore the processes by which knowledge is generated and will be able to create their own personal contributions to the organizational world.
  • Research Theory, Design, and Methods. The purpose of this course is to introduce students and provide them with the knowledge and skills they will need to understand, analyze, and design research at the doctorate level.
  • Managing Organizational Systems and Complexity. In this course, students will learn about the concepts of systems theories to be able to understand, analyze, and change complex organizations.

Year Two:

  • Management of Decision Making. Students in this course will study and learn about the different research and processes related to decision making and how these approaches have an impact on ethics, group dynamics, risk assessment, and leadership.
  • Financial Markets. Limitations of financial markets, information asymmetries, aspects of market behavior, international financial markets, and the legal, ethical, and global dimensions of economic decision making are all studied in this course.
  • Financial Decision Making for Individuals and Firms. Students in this course study the fundamental concepts in decision making with topics including the value of money, decision making under certain conditions, valuation, and capital budgeting.

Year Three:

  • Quantitative Reasoning and Analysis. Students in this class will study quantitative research designs, common statistical tests, the importance of quality assurance, and ethical and social changes to be able to produce knowledge and quantitative research at the doctoral level.
  • Financial Analysis, Planning, and Forecasting. In this course, students will study financial management planning, forecasting, and decision making with topics in econometric and time series analysis, cash flow, inventory, supply chains, sales forecasting, and financial planning modeling.
  • Applications of Current Topics in Management. Students in this course will study knowledge and practice developed in management and leadership through current topics chosen by the professor each semester.

Year Four:

  • Valuation of Assets, Entities, and Opportunities. The valuation of assets, entities, and general opportunities as well as elements of mergers and acquisitions, options, capital budgeting, international asset pricing, and the valuation of intangible assets are all studied in this course.
  • Corporate Financial Management. Students taking this course will be studying corporate finance, sourcing and deployment of capital, corporate risk management, short and long term financing, and interactions between products and markets.
  • Security Management and Risk Assessment. Topics that will be studied in this course include return on security investments, business continuity planning, security policy development, and information security auditing.

Students in mathematics with focus on computational finance doctorate degrees online will also be responsible for excelling in exams administered by their professors. Exams may be administrated in standard test format such as question and answer form or may be administered through a major collaborative paper or assignment, depending on the professor of a specific course. For example, a online PhD mathematics with focus on computational finance professor may require students to produce a research paper on a specific financial model, credit risks, risk assessment, or financial analysis. The final hurdle in the online mathematics with focus on computational finance PhD program is to complete a dissertation on a topic approved by PhD professors. The dissertation is a generally lengthy compilation of experiences gained in the field, practices observed in financial and business settings, and opinions in reference to models, theories, practices, and procedures.

Value and Criticisms of a PhD in Mathematics with Focus on Computational Finance

Studying a mathematics with focus on computational finance PhD program online is ideal because it allows working business professionals the opportunity to earn their degree online without having to interrupt their professional lives. Earning this particular degree online is beneficial because it will allow students to develop advanced research skills while using the Web and Internet, will require students to become familiar with Web tools, and will allow them to become familiar with computer programs and software, as they will need to produce work on these programs. In today’s ever changing world of technology and with businesses and organizations desire to keep updated with computer systems and databases, it is extremely important for leaders in the finance industry to be familiar with technology. However, the degree also requires that students have extremely strong skills in math, so students that feel that they may need extra help or tutoring should be comfortable with getting assistance online through email, web and/or video chats, or through online discussions.

Application & Admission Requirements

The admission requirements of online PhD degrees in mathematics with focus on computational finance programs will vary between schools, but there are some admission requirements that interested individuals should consider. Many schools require that students already have a bachelor’s and master’s degree and at least three years of work experience in a field relating to finance, business, statistics, or a closely related industry. Degrees already earned must have been awarded by a learning institution that is accredited and should be in the finance, statistics or mathematics field, or in a closely related discipline. Many schools also require that students have three letters of recommendation with other requirements being school-specific. For example, Capella University also requires that PhD candidates have at least a 3.0 cumulative GPA on their graduate school transcripts. Interested individuals must fill out an application form and submit the required paperwork to the appropriate department to be considered for entry into the online doctorate in mathematics with focus on computational finance degree program.

Career Options & Job Market

Graduates of online doctoral programs in mathematics with focus on computational finance will be prepared to pursue a number of careers in various fields and industries. Some of these include (but are not limited to): government, finance, business, education, risk management, or financial consulting and investing. Some of the specific careers that online mathematics with focus on computational finance PhD graduates can pursue include (but are not limited to): credit quantitative analyst, quantitative analyst, quantitative developer, asset manager, investment banker, corporate planner, market researcher, or professor. Graduates should have favorable job opportunities as many careers in the field are in relatively high demand. In fact, the Bureau of Labor Statistics reports that the employment of market researchers is expected to grow much faster than the average occupation with more than 70,000 new jobs projected by 2018. The Bureau also reported that the employment of financial managers is expected to be favorable, as projections estimate that over 41,000 new jobs will be available in this occupation by 2018.

Where to Find Information

  • Financial Management Association International is a global leader in developing and disseminating knowledge about financial decision making by promoting research and practices, encouraging the support of financial education, and promoting interaction and relationships among those interested in the finance industry.
  • Financial Planning Association is a organization that is dedicated to sharing information and knowledge that is important to financial planning. The site also has a blog written by experts in the field to help readers understand the latest in financial planning.
  • Journal of Computational Finance is an international journal with a focus in numerical and computational techniques in pricing, hedging, and risk management of financial institutions.
  • UIC’s Mathematics, Statistics, and Computer Science program can serve as a resource to give individuals more information about the degree and what it entails.

How to Get Funding

Just as undergraduate and graduate students rely on financial aid to help ease the burden of tuition costs, so do many PhD students. Tuition costs will vary between schools so there are plenty of options available for students looking for aid. Students can apply for federal student loans but also have the option of applying for grants and scholarships that can help pay for tuition but do not need to be repaid.

  • Scholarship-positions.com. This website allows individuals to find PhD scholarships and funding opportunities for students interested in a number of subjects.
  • GradSchools.com. This site offers graduate fellowships and scholarships to PhD students looking for aid in a number of fields including mathematics, engineering, and technology.
  • Ford Foundation Fellowship Program. This fellowship program is dedicated to awarding students of all levels and in several different concentrations the ability to search for and apply to award opportunities of their choice.

Essential Advice

  • If you are still unsure whether this degree program is right for you, seek the advice of current and past PhD students in this field to get more specifics on the curriculum associated with this program.
  • Be sure to conduct plenty of research on careers in the field as well as their job descriptions and responsibilities, salary, and industry demand to ensure that those are careers you will be interested in once you graduate and earn your degree.
  • Keep in mind that the online PhD in mathematics with focus on computational finance degree program is rigorous and will require hard work, dedication, and at least 3-4 years to complete. If you have just finished a master’s degree program and are in need of a break or if you have other time heavy commitments, be sure to consider the dedication it takes to this program before deciding it is the right fit for you.
  • Once you have decided that this is the program you wish to pursue, be sure to seek the advice of knowledgeable and reliable mentors and/or advisors to help with course plans, research studies, and any other help or advice you may need along the way.