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The Professional Science Master's (PSM) Degree, sponsored by the A.P. Sloan Foundation, is a two-year, non-thesis program designed to bridge the gap between the mathematical sciences and the management of scientific initiatives in business and in industry.
Currently the Pitt PSM degree is offered in the area of Financial Mathematics (Mathematical Finance).
NOTE:
Financial support in the form of a teaching assistantship is not available for students in the
PSM program.
Rationale for a PSM in Financial Mathematics
We anticipate an increase in the demand for management professionals with
a broad and extensive mathematical background. A thorough understanding
of the computational and analytical methods of finance and risk is essential
for financial officers and managers of many commerical and institutional
enterprises. For corporations with a substantial scientific component, a
knowledge of new developments in modeling and computation and how best to
apply them will be highly valuable for future managers.
The goal of this program is to train a new class of professionals with strong
scientific and mathematical qualifications, as well as managerial and business
skills. These professionals will occupy leadership positions in corporations
that run extensive scientific operations or whose activities are affected
by advances in technology. These future leaders and skilled professionals
will require analytical skills beyond what is offered by traditional curricula
at the bachelor's or Master's level.
Their needs are cross-disciplinary and involve profiency in complex systems
with large data sets and many interacting components, and novel materials
and techniques from many different fields. In order to be successful in
the future, they must be confident in identifying critical variables, building
analytical and computational models, forming simplifying assumptions, and
locating paths to test and to further improve these models.
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