Blending Knowledge, Skills and Experience in a Professional Science Master’s Program Presenter Paul W. Eloe Department of Mathematics Date: October 14, 2011

Overview of Program  Comprehensive (Private) University (7000 undergraduate, 4000 graduate, College of A&S, Schools of Business, Engineering, Education and Law, very strong tradition of liberal arts & science)  MFM program (in Department of Mathematics, Finance delivered through MBA program, good cooperation between Math and Finance)  Intended to serve Financial Services industry regionally (Chicago Board of Trade, Actuarial Science, Banking, …)  Entrance requirements set to attract students from broad range of undergraduate majors  11 course program of study (research is satisfied in a 3 credit hour course called Mathematics Clinic); feasible to enter in August and graduate in December, 15 months later.  Currently 33 active folders with at least 6 joining the program in January; support 3 on assistantships; domestic students, International students (Chinese, Saudi Arabian)

Knowledge  Analysis, Ito Calculus, Stochastic Processes (continuous time, discrete time)  PDE and Optimal Control in Finance  Statistics and Time Series  Numerical Analysis, deterministic and stochastic  Credit Markets, Pricing Models  Financial Derivatives and Risk Management  Interest rates, Fixed Income Models

Skills  Software applications to portfolio management, risk management, financial asset trading, hedging  Programming skills  Data Analysis  Portfolio Management  Communication skills (interface with clients, business partners)  Interviewing Skills

Experience  Work experience (internships)  Research experience  Hands-on experience with, say, case studies or projects

Challenges to Deliver -Assume a baccalaureate degree  Math major  Statistics major  Finance major  Computer Science major  Engineering major

Business Partners (current project)  A Business Partner; opportunities for internships (in Dayton), training provided by the Business Partner, research done in teams and data driven  Student obtains skills (interviewing, communication, data analysis, software package experience, programming, supervised team working skills)  Student obtains experience (internship, research, hands-on)  Goal to move this opportunity into the curriculum possibly with a three credit hour case studies course