The modern financial industry is one of the largest and most sophisticated institutions in the world. It demands graduates with diverse quantitatively oriented skills who possess deep knowledge of mathematics, statistics, statistical and computational techniques, complemented by background in economics, finance, and public policy.
UCSB's curriculum leading to the Bachelor of Science (BS) in Financial Mathematics and Statistics is one of few such programs in the nation and unique to the West Coast. It is offered jointly by the Department of Statistics and Applied Probability and the Department of Mathematics, in cooperation with the Department of Economics. This demanding major is intended for students interested in the role that mathematics, probability and statistics play in pricing and hedging securities in the financial markets.
Graduates in Financial Mathematics and Statistics have a wide range of career opportunities available to them, including commercial banking, corporate finance, financial planning, investment banking, money management, and real estate. This program is also an excellent choice for students who wish to continue their education with graduate study.
For students interested in applications of mathematics and statistics to risk management and insurance, the Department offers a separate specialized degree of BS in Actuarial Science.
Degree Requirements
To be admitted into the full major students must complete all pre-major courses with a 2.5 or higher UC grade point average. All pre-major and preparation for the major courses must be completed with a grade of “C” or better. Preparation courses are excluded from the pre-major GPA, but will apply to the overall major GPA. Entry into the pre-major does not guarantee admission to full major status. While completing required preparation, students are classified as
pre-majors.
Prospective Transfers
- If a student transferring to UCSB has two or more mathematical finance pre-major courses to complete at UCSB, the student must complete these courses with a GPA of 2.5.
- If a student transferring to UCSB has only one pre-major course to complete at UCSB, the student must complete this course with a minimum grade of C+ and complete one upper-division major course required for the major with a minimum grade of C.
- If a student transferring to UCSB has completed all the pre-major courses, the student must complete two upper-division courses required for the major with a minimum grade of C in each course.
Students can meet with a faculty advisor to discuss career opportunities and upper-division course electives.
Preparation for High Schoolers
- Two years of algebra
- Courses in geometry and trigonometry at high school
- AP Statistics