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PhD in Financial Mathematics

In addition to at least 21 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 8 semesters; the maximum duration is 12 semesters. However, students should complete course work including non-credit courses in 4 semesters. Advisor should be selected at the end of the 2nd semester and registered at the 3rd semester. Recommended curriculum is as follows:

Semester I Semester II
  • BA5814 Investment Management
  • IAM615 Advanced Stochastic Calculus for Finance
  • Elective Course
  • IAM698 Research Methods and Ethics*
  • Elective Course
  • Elective Course
Semester III Semester IV - XII
  • IAM600 PhD Thesis (Advisor Appointment)
  • IAM690 Graduate Seminar
  • Elective Course
  • Elective Course
  • IAM600 PhD Thesis and Qualifying Exam**
  • * Exempt if the student takes the course during Master studies.
  • ** PhD Qualification Exam: It must be taken by latest the 5th 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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