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Integrated PhD in Financial Mathematics

In addition to at least 42 credit units of course work, seminar, and research methods and ethic units, the PhD degree candidate must prepare and successfully defend a PhD thesis. Expected duration to complete the PhD Program is 10 semesters; the maximum duration is 14 semesters. However, students should complete course work including non-credit courses in 6 semesters. Advisor appointment has to be made at the beginning of 2nd semester. Recommended curriculum is as follows:

Semester I Semester II
  • IAM521 Financial Management
  • IAM541 Probability Theory
  • IAM530 Elements of Probability and Statistics
  • IAM520 Financial Derivatives
  • IAM522 Stochastic Calculus for Finance
  • IAM524 Financial Economics
Semester III Semester IV
  • BA5814 Investment Management
  • IAM615 Advanced Stochastic Calculus for Finance
  • IAM600 PhD Thesis (Advisor Appointment)
  • Elective Course
  • IAM600 PhD Thesis
  • IAM698 Research Methods and Ethics
  • Elective Course
  • Elective Course
  • Elective Course
Semester V Semester VI - XIV
  • IAM600 PhD Thesis
  • IAM690 Graduate Seminar
  • Elective Course
  • Elective Course
  • IAM600 PhD Thesis and Qualifying Exam*
  • * PhD Qualification Exam: It must be taken by latest the 7th semester.
  • Please, visit the webpage for recommended elective courses.

For students who are required to take Scientific Preparation Program, the required courses are as follows:

Scientific Preparation 
  • IAM520 Financial Derivatives
  • IAM521 Financial Management
  • IAM522 Stochastic Calculus for Finance
  • IAM524 Financial Economics
  • IAM530 Elements of Probability and Statistics
  • IAM541 Probability Theory
  • These courses may partially be kept compulsory based on the background of the student.
  • During SP, student may take the program courses in NI status.
  • To pass scientific preparation programme successfully students should get at least CB grade in all SP courses. To see more details of the rules and regulations follow this link.   
  • Depending on the background of the student and the availability of these courses SP can be one or two semester. 
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