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| Term I | | Course # | Course Name | Lecture | Lab | Study | Credit |
|---|
| CS 115 | Introduction to Computer Science (1)This is an introduction to computer science with an emphasis on programming. The topics include: design; algorithmic thinking; recursion; object-oriented programming; ethics in computer science; and some basics about computer systems: machine language, interpreters, compilers, and data representation. Close | 3 | 2 | 8 | 4 | | BT 244 | MicroeconomicsThe focus of this course is on the behavior of and interactions between individual participants in the economic system. In addition to providing a theoretical basis for the analysis of these economic questions, the course also develops applications of these theories to a number of current problems. Topics include: the nature of economic decisions, the theory of market processes, models of imperfect competition, public policy towards competition, the allocation of factors of production, discrimination, poverty and earnings, and energy. Close | 3 | 0 | 6 | 3 | | QF 101 | Quantitative FinanceThis is the 1st Spine Course in the Quantitative Finance program. The course objective is to introduce students to the basics of business, finance, and the capital markets as a foundation for subsequent Spine Courses. There is no pre-requisite, and no prior knowledge of business or finance topics is assumed. Corequisites:QF 103Introduction to Financial Tools and Technology
(0-1-0)(Lecture-Lab-Study Hours)
The course will introduce students to the Bloomberg terminal, from technical analysis to fundamental analysis. Students will also learn how to retrieve historical data from Bloomberg and analyze that data in the SAS statistical program. The course arms the students with skill-sets typically learned on the job.
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| 3 | 0 | 6 | 3 | | MA 121 | Differential CalculusLimits, the derivatives of functions of one variable, differentiation rules, applications of the derivative. This is a seven week course. Prerequisites:MA 120Introduction to Calculus
(4-0-0)
(Lecture-Lab-Study Hours)
The first part of the course reviews algebra and precalculus skills. The second part of the course introduces students to topics from differential calculus, including limits, rates of change and differentiation rules. This is a seven week course.
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| 4 | 0 | 8 | 2 | | MA 122 | Integral CalculusDefinite integrals of functions of one variable, antiderivatives, the Fundamental Theorem, integration techniques, improper integrals, applications. This is a seven week course. Prerequisites:MA 121Differential Calculus
(4-0-8)
(Lecture-Lab-Study Hours)
Limits, the derivatives of functions of one variable, differentiation rules, applications of the derivative. This is a seven week course.
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| 4 | 0 | 8 | 2 | | PE 200 | Physical Education I | 0 | 0 | 0 | 0 | | CAL 103 | Writing And Communications ColloquiumThis course empowers students with the written and oral communications skills essential for both university-level academic discourse as well as success outside Stevens in the professional world. Tailored to the Stevens student, styles of writing and communications include technical writing, business proposals and reports, scientific reports, expository writing, promotional documents and advertising, PowerPoint presentations, and team presentations. The course covers the strategies for formulating effective arguments and conveying them to a wider audience. Special attention is given to the skills necessary for professional document structure, successful presentation techniques and grammatical/style considerations. Close | 3 | 0 | 6 | 3 | | QF 103 | Introduction to Financial Tools and TechnologyThe course will introduce students to the Bloomberg terminal, from technical analysis to fundamental analysis. Students will also learn how to retrieve historical data from Bloomberg and analyze that data in the SAS statistical program. The course arms the students with skill-sets typically learned on the job. Close | 0 | 1 | 0 | 1 | | Total | 20 | 3 | 42 | 18 |
| | Term II | | Course # | Course Name | Lecture | Lab | Study | Credit |
|---|
| CAL 105 | CAL Colloquium: Knowledge, Nature, CultureThis course introduces students to all the humanistic disciplines offered by the College of Arts and Letters: history, literature, philosophy, the social sciences, art, and music. By studying seminal works and engaging in discussions and debates regarding the themes and ideas presented in them, students learn how to examine evidence in formulating ideas, how to subject opinions, both their own, as well those of others, to rational evaluation, and in the end, how to appreciate and respect a wide diversity of opinions and points of view. Close | 3 | 0 | 6 | 3 | | CS 135 | Discrete StructuresThe aim of this course is to integrate knowledge of basic mathematics with the problems involving specification, design, and computation. By the end of the course, the student should be able to: use sets, functions, lists, and relations in the specification and design of problems; use properties of arithmetic, modular arithmetic (sum, product, exponentiation), prime numbers, greatest common divisor, factoring, Fermat?s little theorem; use binary, decimal, and base-b notation systems and translation methods; use induction to design and verify recursive programs; and implement in Scheme all algorithms considered during the course. Close | 3 | 2 | 8 | 4 | | BT 200 | Financial AccountingThis course deals with the methods and principles of financial accounting. It is concerned with the measurement of the results of business activities and with the preparation and use of financial reports such as the balance sheet and income statement. Topics include: the accounting cycle, principles of accrual accounting, the measurement and reporting of detailed balance sheet items and the analysis of financial reports. Ethical issues in accounting will be addressed. Close | 3 | 0 | 6 | 3 | | QF 102 | Basic Financial ToolsThis is the 2nd Spine Course in the Quantitative Finance program. The course objective is to familiarize students with the methods of creating and managing investment portfolios. This involves understanding basic concepts of portfolio construction, integrating investment decisions across multiple positions and asset categories. A Secondary objective is to expand the student's familiarity with the sources and formats of the standard financial reports prepared by public companies in the United States, and to allow students to gain experience in accessing and using publicly available financial information. In addition, students will continue to gain experience with the use of real-time market information on traded securities and the application of simple valuation metrics. Third, students will examine the more prominent types of business models in the financial industry, including commercial banks, investment banks, asset managers and other financial service companies.
Prerequisites:QF 101Quantitative Finance
(3-0-6)
(Lecture-Lab-Study Hours)
This is the 1st Spine Course in the Quantitative Finance program. The course objective is to introduce students to the basics of business, finance, and the capital markets as a foundation for subsequent Spine Courses. There is no pre-requisite, and no prior knowledge of business or finance topics is assumed.
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| 3 | 1 | 6 | 3 | | MA 123 | Series, Vectors, Functions, and SurfacesTaylor polynomials and series, functions of two and three variables, linear functions, implicit functions, vectors in two and three dimensions. This is a seven week course. Prerequisites:MA 122 or Integral Calculus
(4-0-8)
(Lecture-Lab-Study Hours)
Definite integrals of functions of one variable, antiderivatives, the Fundamental Theorem, integration techniques, improper integrals, applications. This is a seven week course.
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Calculus I
(0-0-0)
(Lecture-Lab-Study Hours)
An introduction to differential and integral calculus for functions of one variable. Begins with limits and continuity, and ends with integration techniques and applications of the definite integral. As of Fall 2012, MA 115 is replaced by the sequence MA 121 and MA 122.
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| 4 | 0 | 8 | 2 | | MA 124 | Calculus of Two VariablesPartial derivatives, the tangent plane and linear approximation, the gradient and directional derivatives, the chain rule, implicit differentiation, extreme values, application to optimization, double integrals in rectangular coordinates. This is a seven week course. Prerequisites:MA 123Series, Vectors, Functions, and Surfaces
(4-0-8)
(Lecture-Lab-Study Hours)
Taylor polynomials and series, functions of two and three variables, linear functions, implicit functions, vectors in two and three dimensions. This is a seven week course.
Close |
| 4 | 0 | 8 | 2 | | QF 103 | Introduction to Financial Tools and TechnologyThe course will introduce students to the Bloomberg terminal, from technical analysis to fundamental analysis. Students will also learn how to retrieve historical data from Bloomberg and analyze that data in the SAS statistical program. The course arms the students with skill-sets typically learned on the job. Close | 0 | 1 | 0 | 1 | | PE 200 | Physical Education II | 0 | 0 | 0 | 0 | | Total | 20 | 4 | 42 | 18 |
| | Term III | | Course # | Course Name | Lecture | Lab | Study | Credit |
|---|
| MA 221 | Differential EquationsOrdinary differential equations of first and second order, homogeneous and non-homogeneous equations; improper integrals, Laplace transforms; review of infinite series, series solutions of ordinary differential equations near an ordinary point; boundary-value problems; orthogonal functions; Fourier series; separation of variables for partial differential equations. Prerequisites:MA 116 or Calculus II
(4-0-8)
(Lecture-Lab-Study Hours)
Continues from MA 115 with improper integrals, infinite series, Taylor series, and Taylor polynomials. Vectors operations in 3-space, mathematical descriptions of lines and planes, and single-variable calculus for parametric curves. Introduction to calculus for functions of two or more variables including graphical representations, partial derivatives, the gradient vector, directional derivatives, applications to optimization, and double integrals in rectangular and polar coordinates.
Close |
Calculus of Two Variables
(4-0-8)
(Lecture-Lab-Study Hours)
Partial derivatives, the tangent plane and linear approximation, the gradient and directional derivatives, the chain rule, implicit differentiation, extreme values, application to optimization, double integrals in rectangular coordinates. This is a seven week course.
Close |
| 4 | 0 | 8 | 4 | | BT 221 | StatisticsThis course provides students with an understanding of the use of statistical methods as applied to business problems, in general, and to marketing research applications in particular. Topics include: descriptive statistics; probability theory, discrete and continuous probability distributions; sampling theory and sampling distributions; interval estimation; hypothesis testing; statistical inference about means, proportions, and variances; tests of goodness-of-fit and independence; analysis of variance and experimental design; simple and multiple regression; correlation analysis. This course has been developed with particular attention to the specific statistical foundation required by students enrolling in BT214 Marketing Research the next term. A statistical package (SPSS) will be used throughout the term. Close | 3 | 0 | 6 | 3 | | BT 321 | Corporate FinanceThis course will focus on the appropriate capital structure for a corporation. Topics covered include financial statement analysis, time value of money, valuation of financial instruments, risk and reward, capital structures, the capital asset pricing model and cash management. Close | 3 | 0 | 6 | 3 | | QF 201 | Financial EconometricsStudents will learn the principles of Quantitative Finance, the application of quantitative methods to financial markets. First, students will learn some basic building blocks necessary for the design and implementation of quantitative financial modeling techniques. They will then learn about some simple quantitative finance models based on one of several parameters including historical price data, accounting earnings, cash flows and asset values. Students will also learn by doing. They will be assigned to three member Project Teams that will design and test their own financial models and create a virtual hedge fund using the Stocktrak system, which will allow them to trade virtually any publicly traded security in the world without the actual risk of gain or loss. Each team will make three short presentations to the class and will be evaluated on the 1) preliminary design, 2) implementation and 3) performance of their financial models and virtual hedge fund. In addition, each team will present a book report on one of a list of books provided by the instructor related to the field of Quantitative Finance. Prerequisites:MA 115, and Calculus I
(4-0-8)
(Lecture-Lab-Study Hours)
An introduction to differential and integral calculus for functions of one variable. The differential calculus includes limits, continuity, the definition of the derivative, rules for differentiation, and applications to curve sketching, optimization, and elementary initial value problems. The integral calculus includes the definition of the definite integral, the Fundamental Theorem of Calculus, techniques for finding antiderivatives, and applications of the definite integral. Transcendental and inverse functions are included throughout.
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, and Calculus II
(4-0-8)
(Lecture-Lab-Study Hours)
Continues from MA 115 with improper integrals, infinite series, Taylor series, and Taylor polynomials. Vectors operations in 3-space, mathematical descriptions of lines and planes, and single-variable calculus for parametric curves. Introduction to calculus for functions of two or more variables including graphical representations, partial derivatives, the gradient vector, directional derivatives, applications to optimization, and double integrals in rectangular and polar coordinates.
Close |
, and Financial Accounting
(4-0-3)
(Lecture-Lab-Study Hours)
This course deals with the methods and principles of financial accounting. It is concerned with the measurement of the results of business activities and with the preparation and use of financial reports such as the balance sheet and income statement. Topics include: the accounting cycle, principles of accrual accounting, the measurement and reporting of detailed balance sheet items and the analysis of financial reports. Ethical issues in accounting will be addressed.
Close |
, and Microeconomics
(3-0-0)
(Lecture-Lab-Study Hours)
The focus of this course is on the behavior of and interactions between individual participants in the economic system. In addition to providing a theoretical basis for the analysis of these economic questions, the course also develops applications of these theories to a number of current problems. Topics include: the nature of economic decisions, the theory of market processes, models of imperfect competition, public policy towards competition, the allocation of factors of production, discrimination, poverty and earnings, and energy.
Close |
or Basic Financial Tools
(3-1-6)
(Lecture-Lab-Study Hours)
This is the 2nd Spine Course in the Quantitative Finance program. The course objective is to familiarize students with the methods of creating and managing investment portfolios. This involves understanding basic concepts of portfolio construction, integrating investment decisions across multiple positions and asset categories. A Secondary objective is to expand the student's familiarity with the sources and formats of the standard financial reports prepared by public companies in the United States, and to allow students to gain experience in accessing and using publicly available financial information. In addition, students will continue to gain experience with the use of real-time market information on traded securities and the application of simple valuation metrics. Third, students will examine the more prominent types of business models in the financial industry, including commercial banks, investment banks, asset managers and other financial service companies.
Close |
or Integral Calculus
(4-0-8)
(Lecture-Lab-Study Hours)
Definite integrals of functions of one variable, antiderivatives, the Fundamental Theorem, integration techniques, improper integrals, applications. This is a seven week course.
Close |
Calculus of Two Variables
(4-0-8)
(Lecture-Lab-Study Hours)
Partial derivatives, the tangent plane and linear approximation, the gradient and directional derivatives, the chain rule, implicit differentiation, extreme values, application to optimization, double integrals in rectangular coordinates. This is a seven week course.
Close |
| 3 | 0 | 3 | 3 | | PE 200 | Physical Education III | 0 | 2 | 0 | 0 | | QF 365 | Data Structure and Algorithms with Financial ApplicationsThe course will introduce students to the C++ programming language, and the specification, design, implementation, use of the basic data types and review data structures and algorithms. The course takes a unique approach by following each lecture by a session of hands-on lab exercises; enabling students to learn by doing. Close | 2 | 2 | 0 | 4 | | Total | 15 | 4 | 23 | 17 |
| | Term IV | | Course # | Course Name | Lecture | Lab | Study | Credit |
|---|
| MA 230 | Multivariable Calculus and OptimizationThis course starts with some fundamental notions in multivariate analysis and geometry as well as basic notions and results of convex analysis: (gradient, Jacobian and Hessian, closed and open sets, convex sets, convex hulls, convex cones, polyhedral sets, convex functions, and convexity criteria). These notions are used to present the theory and methods of nonlinear optimization: necessary and sufficient conditions of optimality for nonlinear optimization problems with and without constraints, and duality theory. Numerical methods for unconstrained and constrained problems with differentiable functions include, gradient methods, Newton method, conjugate gradients, gradient projection, reduced gradient, simplex method, penalty methods, dual methods. Optimization problems from statistics, engineering, and business will serve as examples. Prerequisites:MA 116 or Calculus II
(4-0-8)
(Lecture-Lab-Study Hours)
Continues from MA 115 with improper integrals, infinite series, Taylor series, and Taylor polynomials. Vectors operations in 3-space, mathematical descriptions of lines and planes, and single-variable calculus for parametric curves. Introduction to calculus for functions of two or more variables including graphical representations, partial derivatives, the gradient vector, directional derivatives, applications to optimization, and double integrals in rectangular and polar coordinates.
Close |
Calculus of Two Variables
(4-0-8)
(Lecture-Lab-Study Hours)
Partial derivatives, the tangent plane and linear approximation, the gradient and directional derivatives, the chain rule, implicit differentiation, extreme values, application to optimization, double integrals in rectangular coordinates. This is a seven week course.
Close |
| 3 | 0 | 6 | 3 | | BT 430 | Introduction to DerivativesThis is a course on the fundamentals of financial derivatives, covering the basic properties and the pricing fundamentals of futures, options and swaps. It also explores trading and hedging strategies involving financial derivatives. Finally, time permitting special topics such as exotic options and credit derivatives are explored. The course provides the foundation of financial derivatives and lays the ground for a rigorous risk management course and other advanced quantitative courses, such as stochastic finance. Prerequisites:BT 321Corporate Finance
(3-0-6)
(Lecture-Lab-Study Hours)
This course will focus on the appropriate capital structure for a corporation. Topics covered include financial statement analysis, time value of money, valuation of financial instruments, risk and reward, capital structures, the capital asset pricing model and cash management.
Close |
| 3 | 0 | 6 | 3 | | QF 202 | Financial Time SeriesStudents will study the application of quantitative methods to the field of finance, including investment theory and risk management. Among topics covered will be regression analysis, building asset/business cash flow models of a business, sensitivity analysis, value at risk (VAR) models, probability transition matrices and stochastic difference equations(SDE’s) Prerequisites:QF 201 or Financial Econometrics
(3-0-3)
(Lecture-Lab-Study Hours)
Students will learn the principles of Quantitative Finance, the application of quantitative methods to financial markets. First, students will learn some basic building blocks necessary for the design and implementation of quantitative financial modeling techniques. They will then learn about some simple quantitative finance models based on one of several parameters including historical price data, accounting earnings, cash flows and asset values. Students will also learn by doing. They will be assigned to three member Project Teams that will design and test their own financial models and create a virtual hedge fund using the Stocktrak system, which will allow them to trade virtually any publicly traded security in the world without the actual risk of gain or loss. Each team will make three short presentations to the class and will be evaluated on the 1) preliminary design, 2) implementation and 3) performance of their financial models and virtual hedge fund. In addition, each team will present a book report on one of a list of books provided by the instructor related to the field of Quantitative Finance.
Close |
Financial Ecomometrics
(3-0-0)
(Lecture-Lab-Study Hours)
Econometrics, literally “economic measurement,” is a branch of economics that attempts to quantify theoretical relationships. This course will have both a theoretical and applied econometrics components. There will be a focus on using econometrics software in estimating econometrics models learned during the semester and interpreting the results. There will be a review of probability and statistics as needed and then moves on to regression with a single regressor, multiple regression, the basics of functional form analysis, and the evaluation of regression studies. There will be a focus on using econometrics software in estimating econometrics models learned during the semester and interpreting the results
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| 3 | 0 | 6 | 3 | | Science Elective | 3 | 0 | 6 | 3 | | PE 200 | Physical Education IV | 0 | 2 | 0 | 0 | | Total | 12 | 2 | 24 | 12 |
| | Term V | | Course # | Course Name | Lecture | Lab | Study | Credit |
|---|
| FE 543 | Introduction to Stochastic Calculus for FinanceThis course introduces the stochastic calculus to students of finance and financial engineering. The course deals with Markov chains, Poisson processes, random walks, Brownian motion, asset prices as processes, limits of stochastic sequences, Ito sums and integral, fundamental models in modern finance, price dynamics and elementary examples of stochastic differential equations. Close | 3 | 0 | 0 | 3 | | QF 301 | Advanced Time Series Analytics and Maching LearningThis course will cover the main topics of the analysis of time series to evaluate risk and return of the main products of capital markets (equity, fixed income, and derivatives). Students will work with historical databases, conduct their own analysis, and test trading strategies based on the techniques reviewed during the class. Prerequisites:QF 202, Financial Time Series
(3-0-6)
(Lecture-Lab-Study Hours)
Students will study the application of quantitative methods to the field of finance, including investment theory and risk management. Among topics covered will be regression analysis, building asset/business cash flow models of a business, sensitivity analysis, value at risk (VAR) models, probability transition matrices and stochastic difference equations(SDE’s)
Close |
, and Statistics
(3-0-6)
(Lecture-Lab-Study Hours)
This course provides students with an understanding of the use of statistical methods as applied to business problems, in general, and to marketing research applications in particular. Topics include: descriptive statistics; probability theory, discrete and continuous probability distributions; sampling theory and sampling distributions; interval estimation; hypothesis testing; statistical inference about means, proportions, and variances; tests of goodness-of-fit and independence; analysis of variance and experimental design; simple and multiple regression; correlation analysis. This course has been developed with particular attention to the specific statistical foundation required by students enrolling in BT214 Marketing Research the next term. A statistical package (SPSS) will be used throughout the term.
Close |
or Intermediate Statistics
(3-0-6)
(Lecture-Lab-Study Hours)
An introduction to statistical inference and to the use of basic statistical tools. Topics include descriptive and inferential statistics; review of point estimation, method of moments, and maximum likelihood; interval estimation and hypothesis testing; simple and multiple linear regression; analysis of variance and design of experiments; and nonparametric methods. Selected topics, such as quality control and time series analysis, may also be included. Statistical software is used throughout the course for exploratory data analysis and statistical inference based in examples and in real data relevant for applications.
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Statistical Models
(3-0-0)
(Lecture-Lab-Study Hours)
The major portion of the course covers an introduction to the probabilistic and statistical concepts and models used in day-to-day business decision-making. Topics include data analysis, correlational techniques, regression, statistical inference, and forecasting.
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| 3 | 0 | 6 | 3 | | QF Elective | 3 | 0 | 6 | 3 | | QF Concentration | 3 | 0 | 6 | 3 | | Free Elective | 3 | 0 | 6 | 3 | | FE 535 | Introduction to Financial Risk ManagementThis course deals with risk management concepts in financial systems. Topics include identifying sources of risk in financial systems, classification of events, probability of undesirable events, risk and uncertainty, risk in games and gambling, risk and insurance, hedging and the use of derivatives, the use of Bayesian analysis to process incomplete information, portfolio beta and diversification, active management of risk/return profile of financial enterprises, propagation of risk, and risk metrics. Close | 3 | 0 | 6 | 3 | | Total | 18 | 0 | 30 | 18 |
| | Term VI | | Course # | Course Name | Lecture | Lab | Study | Credit |
|---|
| QF Elective | 3 | 0 | 6 | 3 | | QF Elective | 3 | 0 | 6 | 3 | | QF 302 | Financial Market Microstructure and TradingThis course will offer students an understanding of the main micro-structural features of financial markets, and the opportunity to test and practice different trading strategies. The course concentrates on the operations of exchanges, trading systems and broker/dealer intermediaries. Students will have a high level view of the trading decision process, market structure design, and market structure regulation. The course is based on computer simulations that recreate a trading environment and the typical challenges faced by professional traders. Close | 3 | 0 | 6 | 3 | | QF Concentration | 3 | 0 | 6 | 3 | | Free Elective | 3 | 0 | 6 | 3 | | Total | 15 | 0 | 30 | 15 |
| | Term VII | | Course # | Course Name | Lecture | Lab | Study | Credit |
|---|
| Humanities | 3 | 0 | 6 | 3 | | QF Elective | 3 | 0 | 6 | 3 | | QF Concentration | 3 | 0 | 6 | 3 | | QF Elective | 3 | 0 | 6 | 3 | | QF 401 | Senior Design Research Projects in Quantitative Finance ISenior Design Research Projects in QF I is a two-semester experience beginning with QF401. The goal of the first part of the course is to provide you with basic skills for successfully performing high-quality research in finance and to help you choose a research topic to work on. The course will include both formal training sessions, on various aspects of research in finance, and an actual research project completed by students. Close | 3 | 0 | 6 | 3 | | Total | 15 | 0 | 30 | 15 |
| | Term VIII | | Course # | Course Name | Lecture | Lab | Study | Credit |
|---|
| QF 402 | Senior Design Research Projects in Quantitative Finance IIThis course is a continuation of QF401, with an emphasis on building skills for successfully performing high-quality research in finance. The course will include both formal training sessions, on various aspects of research in finance, and an actual research project completed by students. It is expected, that by the time this class begins, all students will have made significant progress in their research and will use this class as an opportunity to finalize such research to convert their results into a standard research paper. QF402 will have a greater emphasize on positioning your research within the real-world finance industry. Close | 3 | 0 | 6 | 3 | | Humanities | 3 | 0 | 6 | 3 | | QF Elective | 3 | 0 | 6 | 3 | | QF Elective | 3 | 0 | 6 | 3 | | QF Concentration | 3 | 0 | 6 | 3 | | Total | 15 | 0 | 30 | 15 |
| |
