Computational Finance Certificate

Learn the key mathematical, statistical and econometric foundations needed for quantitative management of financial investments. Study classical methods of portfolio construction based on volatility as a risk measure. Learn modern theory of portfolio optimization, examine how to minimize risk, discover how to balance alpha generation versus downside risk and study the latest risk budgeting techniques. Complement your foundational knowledge with training in open source R programming language for quantitative finance modeling and analysis.

What the Program covers: • Mathematics of fixed income, interest rates and terms structure • Introduction to forwards, futures and options pricing and hedging use • Linear regression factor models and their uses in finance • Introduction to statistical analysis of financial data with R • Advanced R modeling tools for financial time series and portfolios • Classic mean-variance risk portfolio optimization and risk management  • Post-modern tail-risk based portfolio optimization and risk management.

Curriculum

A Computational Finance Certificate will be awarded to individuals who successfully complete the following three online four-credit courses from the MS-CF&RM curriculum for a total of 12 credits:

  • Autumn: AMATH 541 Investment Science
  • Winter: AMATH 542 Financial Data Modeling and Analysis in R
  • Spring: AMATH 543 Portfolio Optimization and Asset Management

Other Certificate Information

Introduction

CF&RM offers an ideal certificate for working professionals seeking advanced knowledge and modern skills to advance their career in computational finance. Courses in the certificate are a subset of the MS-CF&RM degree and are offered online using the latest distance learning technologies.

The Computational Finance Certificate program is 3 quarters in duration and starts in autumn and ends in the spring with a student load of one 4 credit course each quarter. Certificates are administered and awarded by Professional & Continuing Education (PCE) at the University of Washington.

Computational Finance Certificate

Learn the key mathematical, statistical and econometric foundations needed for quantitative management of financial investments. Study classical methods of portfolio construction based on volatility as a risk measure. Learn modern theory of portfolio optimization, examine how to minimize risk, discover how to balance alpha generation versus downside risk and study the latest risk budgeting techniques. Complement your foundational knowledge with training in open source R programming language for quantitative finance modeling and analysis.

What the Program covers: • Mathematics of fixed income, interest rates and terms structure • Introduction to forwards, futures and options pricing and hedging use • Linear regression factor models and their uses in finance • Introduction to statistical analysis of financial data with R • Advanced R modeling tools for financial time series and portfolios • Classic mean-variance risk portfolio optimization and risk management  • Post-modern tail-risk based portfolio optimization and risk management.

Curriculum

A Computational Finance Certificate will be awarded to individuals who successfully complete the following three online four-credit courses from the MS-CF&RM curriculum for a total of 12 credits:

  • Autumn: AMATH 541 Investment Science
  • Winter: AMATH 542 Financial Data Modeling and Analysis in R
  • Spring: AMATH 543 Portfolio Optimization and Asset Management

Actuarial Science Certificate

Learn the advanced statistical, econometric and mathematical fundamentals needed for success as an actuary, rated 2nd in "The 10 Best Jobs of 2012" according to CareerCast.com. Understand specialized quantitative models and concepts in order to analyze data, accurately predict future trends and effectively manage risk. Study modern, advanced statistical and actuarial theory, and gain skills critical to strategic decision making.

Key outcomes: You will gain the necessary mathematical and quantitative modeling skills to prepare for the actuarial certification exam series and enter or advance in the actuarial profession.

Curriculum

An Actuarial Science Certificate will be awarded to individuals who successfully complete the following five online courses over five quarters (ranging from three to five credits each) from the MS-CF&RM curriculum for a total of either 19 or 21 credits:

  • Summer*: AMATH 461 Probability and Statistics for Computational Finance OR AMATH 462 Introduction to Computational Finance & Financial Econometrics
  • Autumn: AMATH 541 Investment Science
  • Winter: AMATH 544 Options and Derivatives
  • Spring: Actuarial Models and Estimation
  • Summer: Models for Life Contingencies

*The standard course is AMATH 461 (3 credits), but the department may request that a student take AMATH 462 instead (5 credits) depending on experience or educational background.

Quantitative Fundamentals of Computational Finance

This summer certificate program will provide a comprehensive set of tools to support advanced studies in the area of quantitative finance, or to prepare for employment in the financial or investment industries. Students will master the mathematical, statistical and economics fundamentals necessary for advancement in financial professions today, and will develop a fundamental understanding of R programming via course utilization. 

You can augment skills and knowledge gained from your degree study or professional experience with an additional area of focus. For undergraduate students, you can take care of some of your general education credits to earn a companion credential that complements your degree. Set yourself apart in the job market with this marker of professional readiness.

This 11 credit program runs full term in Summer Quarter with late afternoon/early evening classes held Mondays through Thursdays. The first course in the sequence below, AMATH 460, can also be taken during spring quarter 2013. 

Certificates are administered and awarded by Professional & Continuing Education (PCE) at the University of Washington.

Watch 2 minute program overview video featuring Professor Konis

Curriculum

A Quantitative Fundamentals of Computational Finance Certificate will be awarded to individuals who successfully complete the following three online courses during an intensive Summer Quarter from the MS-CF&RM curriculum for a total of 11 credits:

  • AMATH 460 Mathematical Fundamentals for Quantitative Finance (3 credits)
  • AMATH 461 Probability and Statistics for Computational Finance (3 credits)
  • AMATH 462 Introduction to Computational Finance and Financial Econometrics (5 credits)

Application

To apply and register for this Certificate program go to http://www.pce.uw.edu/certificates/quantitative-computational-finance.html.

 

Additional Curriculum Information

 

Instructors:

Kjell Konis and Eric Zivot

 

Prerequisites:

Students should have completed entry-level college calculus courses that include an introduction to multivariable differential calculus (the UW Mathematics Department courses AMATH 124, 125 and 126  are good examples, see course descriptions); additional introductory mathematics and statistics coursework is desirable.

 

Credits:  11

Fee: $9,900 for the certificate ($900 per credit)

NOTE:  The above courses also serve as Pre-Program courses to prepare students needing them as background study for the UW Applied Mathematics MS degree program in Computational Finance and Risk Management

 

Single Course Enrollment Applicants:

Each of the above courses can be taken on a single course enrollment (SCE) basis. To apply for single course enrollment in any one of the above courses please fill out the application here. 

 

 

 

 

Credit for MS-CF&RM Degree

Pursue a MS-CF&RM degree with credit from a CF&RM certificate. Upon successful completion of one of the certificate programs and acceptance into the MS-CF&RM program, students will be able to apply the 12 certificate credits toward the MS degree.

If you are considering this option, you must apply for UW Graduate Non-Matriculated (GNM) status at the same time you apply for one of the certificate programs. Details are provided in the Graduate Non-matriculated Application.

S/NS Option

Finance industry professionals and other students taking a course in one of the Certificate programs, possibly on a single course enrollment (SCE) basis, may wish to take the course on a pass or fail basis. Such students may elect to have a course graded S/NS by paying a $20 fee at the time of registering for the course or until approximately the 8th week of the course. For option details please see Nontraditional Grading Options.

NOTE: This option is not available for students with GNM status who intend to pursue the MS-CF&RM degree. This is because numeric grades are required for courses whose credit is to be applied toward the MS degree.