## MAQRM Prerequisites:

Applicants to the MAQRM program should present the following preparation and materials in their applications:

- Strong coursework in calculus, on par with
**MATH 2153**(4 cr. hrs.) Calculus III - Solid preparation in calculus-based probability, on par with
**MATH 4530**(3 cr. hrs.) Probability**or****STAT 4201**(4 cr. hrs.) Intro to Mathematical Statistics I - Elementary economics, at the level of
**ECON 2001.01**or**.03H**(3 cr. hrs.) Principles of Microeconomics and**ECON 2002.01**or**.03H**(3 cr. hrs.) Principles of Macroeconomics

Background in interest theory and actuarial science is not required, though strongly recommended. Incoming MAQRM students are expected to have already passed the FM Exam (Financial Mathematics Exam), an actuarial exam administered by the Society of Actuaries and the Casualty Actuarial Society. If a student does not meet this prerequisite, **MATH 3618 **can be taken during the first semester of a student’s MAQRM study.

**MATH 3618**(3 cr. hrs.) Theory of Interest (Required during the first semester in MAQRM if FM Exam not passed)

We strongly recommend proficiency in a computer programming language at the level of one of the following

**CSE 1222**(3 cr. hrs.) Intro to Computer Programming in C++**CSE 1223**(3 cr. hrs.) Intro to Computer Programming in Java**CSE 1224**(3 cr. hrs.) Intro to Computer Programming in Python

## Required Core Courses (12 credit hours):

A student will need to pass all required core, required sequences, and elective courses with at least a grade of **C-** by the end of the Spring Semester of the second year.**students who start during a Spring Semester are expected to complete these requirements by Autumn of the second year*

### Mathematics & Statistics

**MATH 5632**(3 cr. hrs.) Financial Economics for Actuaries**STAT 6301**(3 cr. hrs.) Probability for Statistical Inference**STAT 6302**(3 cr. hrs.) Theory of Statistical Analysis**MATH 5588**(3 cr. hrs.) Practicum in AQRM

## Required AQRM Sequences (12-18 credit hours):

Choose *at least two* MAQRM sequences from the list below.

Students must choose 2 or 3 of the following year-long course sequences. A student may request to use other courses to satisfy the sequence requirement. The request should be submitted by the student and advisor to the Graduate Studies Committee (GSC) for approval.

### Life Contingencies

**MATH 5630**(3 cr. hrs.) Life Contingencies I**MATH 5631**(3 cr. hrs.) Life Contingencies II

### Loss Models

**MATH 5633**(3 cr. hrs.) Loss Models I**MATH 5634**(3 cr. hrs.) Loss Models II

### Stochastic Calculus for Finance

**MATH 5635**(3 cr. hrs.) Stochastic Calculus for Finance I**MATH 5636**(3 cr. hrs.) Stochastic Calculus for Finance II

### Topics in Risk Management

**MATH 5637**(3 cr. hrs.) Topics in Risk Management (repeatable up to 6 credit hours)**MATH 5637**(3 cr. hrs.) Topics in Risk Management (repeatable up to 6 credit hours)

### Numerical Analysis

**MATH 5601**(3 cr. hrs.) Essentials of Numerical Methods**MATH 5602**(3 cr. hrs.) Computational Partial Differential Equations

## Elective Courses (3+ credit hours):

Elective courses must be chosen from the list below, along with the **Practicum** (3 cr. hrs.) and, if applicable, the **Thesis Writing Course** (3 cr. hrs.) must add up to the total **33** cr. hrs. required for the MAQRM degree. A student may request to use other courses to satisfy the elective requirement. The request, in the form of a petition, should be submitted by the advisor and student to the Graduate Studies Committee (GSC) for approval.

Students opting for the **MAQRM Non-Thesis Option** must typically complete another 3 cr. hrs. to reach the **33 overall hours** required for the degree.

### Real Analysis

**MATH 5201**(5 cr. hrs.) Introduction to Real Analysis I**MATH 5202**(5 cr. hrs.) Introduction to Real Analysis II

### Differential Equations

**MATH 5401**(3 cr. hrs.) Applied Differential Equations I**MATH 5402**(3 cr. hrs.) Applied Differential Equations II

### Numerical Linear Algebra

**MATH 5603**(3 cr. hrs.) Numerical Linear Algebra

### Statistics

**STAT 5740**(2 cr. hrs.) Introduction to SAS**STAT 6450**(4 cr. hrs.) Regression Analysis**STAT 6540**(3 cr. hrs.) Applied Stochastic Processes I**STAT 6550**(2 cr. hrs.) Time Series**STAT 6560**(3 cr. hrs.) Applied Multivariate Analysis

## Thesis Option (3 credit hours):

Each student must select a thesis advisor by the end of the Autumn Semester of the second year (or the Spring Semester of the second year if the student started during a Spring Semester) and submit a Change of Advisor form to the Graduate Office. The thesis advisor needs to be a Mathematics Department faculty member of category M level or higher. Typically this will be the MAQRM program director, Dr. John Holmes. Thesis research and writing will occur during the second year, and should be completed by the end of the Spring Break of the second year (or the equivalent timeframe within the alternate semester of graduation). During this time students should generally be signed up for **3 hrs. of MATH 6999** with the supervising Master's Faculty (Thesis) Advisor.

**MATH 6999**(3 cr. hrs.) Graduate Thesis Research

## Thesis Defense & Graduation:

The thesis will be written during the second year under the supervision of the thesis advisor, and prepared in compliance with university rules. The thesis should be completed early during the semester of graduation. All students are expected to apply to graduate with the Master's of Actuarial and Quantitative Risk Management (AQRM-MAQRM) degree via the Thesis-Option before the second Friday of the semester of graduation. In order to apply, a student also has to choose a second member of the examination committee by the beginning of the same semester. This has to be a Graduate Faculty member but may be from another OSU unit related to the specialization. Typically (but not necessarily) this can be the second mentor of the Practicum. The oral examination has to be scheduled and passed after submission of a draft of the thesis. An additional written examination is not required. The thesis needs to follow university formatting guidelines, be approved by the committee, and be submitted to the Graduate School and OhioLink.

For further details see Section VI of the Graduate School Handbook.

The credits earned from required core, required sequences, and elective courses must be at least **27** credit hours. Additionally, **MATH 5194 Group Study: Practicum in AQRM** counts for **3** additional hours toward the degree and **MATH 6999 Thesis Writing** counts for **3** more hours toward the degree. Independent studies, group studies, and research credit hours, or hours from unapproved courses not on the lists below, **do not count **toward the required **33** total hours of coursework.

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