This concentration combines financial theory with a solid grounding in quantitative
methods. Recent innovations in financial markets have led to an increased demand for
analytically skilled professionals. Understanding pricing models in derivatives and
other exotic securities requires knowledge in finance and also statistics, stochastic
processes and differential equations.
Coursework
Quantitative finance has more required courses than the other concentrations. However,
some of the courses can count to fulfill upper-level liberal arts requirements. The
School of Management only considers students with a cumulative GPA of 3.5 or higher
for the quantitative finance concentration, as well as a grade of B or higher in FIN
311.
The current schedule for these courses is available in the Schedule of Classes on
the BU Brain. Descriptions of courses are listed in the Binghamton University Bulletin
and course descriptions for the upcoming semester are available on the BU Brain.
Here's a sample of courses you can take to fulfill this concentration. Contact Academic Advising for the most updated list of core courses and electives.
Required coursework
MATH 224 & MATH 225 are Calculus I, and MATH 226 & MATH 227 are Calculus II
-
MATH 224 - Differential Calculus
This is a 2-credit course in differential calculus covering limits, continuity,
and
differentiation. Prerequisites: MATH 223 with a grade of C- or better, or Placement
Exam. Offered each half semester. 2 credits.
Levels: Undergraduate
-
MATH 225 - Integral Calculus
This is a 2-credit course in integral calculus covering optimization and integration.
Prerequisites: MATH 224 with a grade of C- or better. Offered 2nd half of fall semester
and both half semesters of spring semester. 2 credits.
Levels: Undergraduate
-
MATH 226 - Integration Tech & Application
This is a 2-credit course covering the calculus of transcendental & inverse
functions, L’Hospital’s Rule, integral techniques, improper integrals,
calculus of parametric curves, and polar coordinates.
Prerequisites: Math 225 with a grade of at least a C- or consent of instructor. 2 credits.
Levels: Undergraduate
-
MATH 227 - Infinite Series
This is a 2-credit course covering sequences, series, power series, and Taylor
series.
Prerequisites: Math 226 with a grade of at least a C- or consent of instructor. 2
credits.
Levels: Undergraduate
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MATH 304 - Linear Algebra
Vector spaces, linear transformations, determinants, characteristic values, inner
products. Prerequisites: C- or better in MATH 225. Every semester. 4 credits.
Levels: Graduate, Undergraduate
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ECON 466 - Introduction To Econometrics
Econometric techniques necessary for understanding economic literature; application
of these techniques. Treatment of multiple regression and multicolinearity; introduction
to simultaneous equations systems; additional topics, such as identification, autocorrelation,
errors in variables, use of computers in econometric research. Prerequisites: College-level Statistics,
and College-level Calculus (MATH 220 or 224/225). Recommended prerequisites: ECON
360 or 362. BA majors in Economics may not use both this course and ECON 464 to fulfill
the required three courses numbered 400-489. Offered each semester. 4 Cr.
Levels: Undergraduate
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FIN 322 - Investments
Various institutional, analytical and pragmatic aspects of security analysis and
investment management, securities markets, sources of investment information, bond
and stock valuation models, risk return analysis, behavior of security prices, portfolio
management, and capital market theory. 4 credits. Prerequisites: FIN 311. Traditionally
offered fall and spring semesters
Levels: Undergraduate
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FIN 450 - Derivatives
Introduction to and a comprehensive analysis of the derivatives markets in the
U.S. Topics include discussions of options, futures, swaps and futures markets. 4
credits. Prerequisites: FIN 311, 322. Traditionally offered spring semesters.
Levels: Undergraduate
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FIN 465 - Arbitrage Strategies
This is an advanced, research based, seminar course targeted at students majoring
in Accounting and/or Finance. It teaches students to apply the latest research techniques
used in research. The skills taught in this course are used in research related jobs
in auditing, consulting, corporate finance, forensic accounting, hedge funds, investment
banking, quantitative financial analysis, securities litigation consulting, etc. The
course builds upon accounting and finance concepts covered in the introductory classes.
4 credits. Prerequisits: FIN 311 and FIN 322. Traditionally offered fall semesters.
Levels: Undergraduate
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FIN 475 - Financial Technology
Levels: Graduate, Undergraduate
Electives
Select one of the following. Select special topics courses available - please see
finance faculty or advising for approval.
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FIN 324 - Corporate Finance
An in-depth examination of valuation and financial decision making in the corporate
setting, including some case analysis. Topics generally include capital market efficiency,
required rates of returns, options in the corporate setting, long-term investments,
capital structure, financial planning and dividend policy. 4 credits. Prerequisites:
Fin 311. Traditionally offered fall and spring semesters
Levels: Undergraduate
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FIN 430 - Financial Statement Analysis
This course is about the analysis of financial information - particularly firms'
financial statements - for making decisions to invest in businesses. The primary focus
is on equity valuation, with some attention given to credit analysis and the valuation
of debt. The methods of fundamental analysis will be examined in detail and applied
in cases and projects involving publicly traded companies. Topics include models of
shareholder value, a comparison of accrual accounting and discounted cash flow approaches
to valuation, the analysis of profitability, growth and valuation generation in a
firm, diagnosing accounting quality, forecasting earnings and cash flows, pro-forma
analysis for strategy and planning, and the determination of price/earnings (P/E)
and market-to-book (P/B) ratios. 4 credits. Prerequisites: FIN 311 and FIN 324. Traditionally offeredfall semester.
Levels: Undergraduate
Prerequisites:
Pre-Reqs for FIN 430
General Requirements:
(
Course or Test:
FIN
311
Minimum Grade of
D
May not be taken concurrently.
)or(
Course or Test:
FIN
311
Minimum Grade of
*TD
May not be taken concurrently.
)
-
FIN 440 - Fixed Income Securities
The aim of this course is twofold. First, we examine institutional features of
the markets for Treasury debt, agency debt, corporate debt, tax-exempt debt, and lottery
bonds. Second, we introduce students to bond mathematics and outline the principles
behind the most widely used bond valuation models.
Traditionally offered spring semester. 4 credits
Levels: Undergraduate
After You Graduate
Students who pursue a quantitative finance concentration will be on track for placement
at investment banks. Investment banks help companies and governments issue securities,
help investors purchase securities, manage financial assets, trade securities and
provide financial advice. The leading investment banks — including Merrill Lynch, Salomon Smith Barney, Morgan Stanley Dean Witter, Chase
H&Q and Goldman Sachs — have hired our students.