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Financial Mathematics is the branch of applied mathematics concerned with the financial markets. It overlaps heavily with the fields of financial engineering and computational finance. Arguably, all three terms are synonymous. The subject naturally has a close relationship with the discipline of financial economics, but financial mathematics is narrower in scope and more abstract. A central difference is that while a financial economist might study the structural reasons why a company may have a certain share price, a mathematician or financial engineer may take the share price as a given, and attempt to use stochastic calculus to obtain the fair value of derivatives of the stock.
Financial Mathematics is a flourishing area of modern science. Its numerous applications have become vital to the day to day functioning of the world’s financial institutions. As a consequence, a solid command of the principles and techniques of quantitative finance is essential for a responsible approach to the trading, asset management, and risk control of complicated financial positions.
Many countries’ financial sectors have enjoyed unparalleled expansion over the past decade and opportunities have emerged for careers in numerous areas of the financial system. With the integration of financial markets in Europe and elsewhere new job opportunities are appearing all the time.
Within the manufacturing and service sectors of economies, financial analysis is becoming increasingly technical and the range of alternative financial instruments available to firms is expanding rapidly. There is increasing demand for employees with an understanding of the new tools and the ability to apply them.
To see the course details (such as objectives, learning outcomes, content, assessment and ECTS workload), click the relevant Course Code given in the table below.
| 1. Year Fall Semester | ||||||
| Code | Pre. | Course Name | Theory | Application/Laboratory | Local Credits | ECTS |
| ECON 527 | Financial Economics | 3 | 0 | 3 | 7.5 | |
| ELEC 001 | Elective Course I | 3 | 0 | 3 | 7.5 | |
| MATH 555 | Financial Mathematics | 3 | 0 | 3 | 7.5 | |
| STAT 503 | Probability Theory | 3 | 0 | 3 | 7.5 | |
| Total : | 30 |
| 1. Year Spring Semester | ||||||
| Code | Pre. | Course Name | Theory | Application/Laboratory | Local Credits | ECTS |
| ELEC 002 | Elective Course II | 3 | 0 | 3 | 7.5 | |
| FM 506 | Stochastic Processes in Finance | 3 | 0 | 3 | 7.5 | |
| GSNS 595 | Seminar | 0 | 0 | 0 | 7.5 | |
| ITF 507 | Corporate Financial Management | 3 | 0 | 3 | 7.5 | |
| Total : | 30 |
| 2. Year Fall Semester | ||||||
| Code | Pre. | Course Name | Theory | Application/Laboratory | Local Credits | ECTS |
| ELEC 003 | Elective Course III | 3 | 0 | 3 | 7.5 | |
| ELEC 004 | Elective Course IV | 3 | 0 | 3 | 7.5 | |
| ELEC 005 | Elective Course V | 3 | 0 | 3 | 7.5 | |
| FM 597 | Term Project | 0 | 0 | 0 | 7.5 | |
| Total : | 30 |
| Elective Courses | ||||||
| Code | Pre. | Course Name | Theory | Application/Laboratory | Local Credits | ECTS |
| ECON 517 | Financial Econometrics | 3 | 0 | 3 | 7.5 | |
| FM 551 | Scientific Computation and Simulation in Finance | 3 | 0 | 3 | 7.5 | |
| IE 502 | Probabilistic Systems Analysis | 3 | 0 | 3 | 7.5 | |
| IES 508 | System Simulation and Modeling | 3 | 0 | 3 | 7.5 | |
| IES 513 | Mathematical Programming and Applications | 3 | 0 | 3 | 7.5 | |
| IES 534 | Nonlinear Programming | 3 | 0 | 3 | 7.5 | |
| IES 570 | Criptology and Computer Security | 3 | 0 | 3 | 7.5 | |
| INS 501 | Insurance Mathematics I: General Insurance | 3 | 0 | 3 | 7.5 | |
| INS 551 | Advanced Actuarial Mathematics | 3 | 0 | 3 | 7.5 | |
| INS 552 | Applied Actuarial Management | 3 | 0 | 3 | 7.5 | |
| MATH 504 | Statistics | 3 | 0 | 3 | 7.5 | |
| MATH 505 | Advanced Mathematical Analysis | 3 | 0 | 3 | 7.5 | |
| MATH 508 | Partial Differential Equations | 3 | 0 | 3 | 7.5 | |
| MATH 552 | Copula Theory and Its Application in Finance | 3 | 0 | 3 | 7.5 | |
| MATH 553 | Optimization | 3 | 0 | 3 | 7.5 | |
| MATH 554 | Basic Topics in Mathematics | 3 | 0 | 3 | 7.5 | |
| MATH 600 | Mathematics Softwares and Research Methods | 3 | 0 | 3 | 7.5 | |
| MATH 601 | Differential Equations | 3 | 0 | 3 | 7.5 | |
| MATH 602 | Advanced Linear Algebra and Optimization | 3 | 0 | 3 | 7.5 | |
| MATH 669 | Applied Homology, Computational Approach | 3 | 0 | 3 | 7.5 | |
| MATH 670 | Set Theoretic Topology | 3 | 0 | 3 | 7.5 | |
| MATH 671 | Fuzzy Optimization | 3 | 0 | 3 | 7.5 | |
| MATH 672 | Algebra | 3 | 0 | 3 | 7.5 | |
| MATH 673 | Computational Commutative Algebra | 3 | 0 | 3 | 7.5 | |
| MATH 674 | Group Theory and Its Applications | 3 | 0 | 3 | 7.5 | |
| MATH 675 | Applications of Modules and Representation Theory | 3 | 0 | 3 | 7.5 | |
| STAT 501 | Theory of Statistics | 3 | 0 | 3 | 7.5 | |
| STAT 502 | Stochastic Processes | 3 | 0 | 3 | 7.5 | |
| STAT 504 | Nonparametric Statistics | 3 | 0 | 3 | 7.5 | |
| STAT 505 | Applied Statistical Analysis | 3 | 0 | 3 | 7.5 | |
| STAT 506 | Multivariate Statistics and the Theory of Copulas | 3 | 0 | 3 | 7.5 | |
| STAT 551 | Actuaria | 3 | 0 | 3 | 7.5 | |
| STAT 552 | Ordered Random Variables | 3 | 0 | 3 | 7.5 | |
| STAT 553 | Reliability | 3 | 0 | 3 | 7.5 | |
| STAT 554 | Statistical Process Control | 3 | 0 | 3 | 7.5 | |
| STAT 555 | Risk Analysis | 3 | 0 | 3 | 7.5 | |
| STAT 556 | Linear Statistical Models | 3 | 0 | 3 | 7.5 | |
| STAT 557 | Time Series Analysis | 3 | 0 | 3 | 7.5 | |
| STAT 558 | Design of Experiment | 3 | 0 | 3 | 7.5 | |
| STAT 559 | Advanced Probability Theory | 3 | 0 | 3 | 7.5 | |
| STAT 560 | Statistical Methods in Biology and Medical Sciences | 3 | 0 | 3 | 7.5 | |
| STAT 561 | Statistical Softwares and Simulation | 3 | 0 | 3 | 7.5 | |
| STAT 562 | Combinatorial Analysis and Discrete Distributions | 3 | 0 | 3 | 7.5 | |
| STAT 563 | Statistical Decision Theory | 3 | 0 | 3 | 7.5 | |
| STAT 601 | Probability Theory and Mathematical Statistics | 3 | 0 | 3 | 7.5 |
The students studying in this second cycle program without thesis are required:
to take a minimum of 10 courses with a minimum of 30 local credits and a non-credit semester project which is graded on a pass/fail basis.
to succeed in all the courses with a letter grade of at least CC/S
to have a Cumulative Grade Point Average of at least 3.00/4.00 with a minimum of 90 ECTS credits.
B-2 FOREIGN NATIONALS:
To hold an Undergraduate Degree Diploma from a (4 year) higher education institution that is recognized by the Higher Education Board
To graduate from undergraduate program (4 year) of Departments of Industrial Engineering, System Engineering, Computer Sciences, Computer Engineering, Software Engineering, Electrical/ Electronics/Telecommunication Engineering, Information, Computer and Teaching Technologies Teaching, Computer Education, Electrical Electronics Education, Computer Technologies, Mechatronics, Mathematics, Physics, Business Administration, Logistics Management, or related departments to apply for Intelligent Engineering Systems master program,
To graduate from undergraduate program (4 year) of Departments Architecture, Interior Architecture, City and Regional Planning, and other related design fields to apply for Architecture master program,
To be exempt from foreign language proficiency, students need to meet the below requirements:
To be graduated from a higher education program in which the medium of instruction is the same language as in the master program applied for within three years following their graduation,
To obtain the scores in the exams specified below, or obtain an equivalent score in the internationally recognized foreign language exams that are deemed equivalent to the exams specified below by the Higher Education Board.
|
Type of Exam |
Score |
|
KPDS ( Public Personnel Language Exam ) |
65 |
|
UDS ( Interuniversity Foreign Language Exam ) |
65 |
|
YDS (Foreign Language Placement Exam) |
65 |
|
IYS (IUE Proficiency in English Exam) |
65 |
Want to improve your English level for admission?
Prepare for the program requirements with English Online by the British Council.
- ✔️ Flexible study schedule
- ✔️ Experienced teachers
- ✔️ Certificate upon completion
📘 Recommended for students with an IELTS level of 6.0 or below.
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