• Course Code: 01:640:488
• Semester(s) Offered: Spring
• Credits: 3
• Counts toward math major/minor?: Yes
• Prerequisites: Probability (Math 477)

COURSE DESCRIPTION

This course provides a thorough grounding in property - casualty actuarial mathematics with a strong leaning towards practical applications in the insurance world.

COURSE OBJECTIVES

The student should be able to explain concepts, recognize notation and solve problems in actuarial mathematics. This course together with Mathematics of Life Contingent Risk Models I covers the majority of the material required by the Society of Actuaries for exam FAM (Fundamentals of Actuarial Mathematics).

The following topics will be covered:

• Insurance and Reinsurance Coverages
• Severity, Frequency, and Aggregate Models of Losses
• Parametric and Non-Parametric Estimation
• Introduction to Credibility Theory
• Pricing and Reserving for Short-Term Insurance Coverages

Please note that the "Semester(s) Offered" entry does not guarantee that the course will always be offered in that semester. Please consult the online Schedule of Courses to verify whether a course will be offered in an upcoming semester.

• Course Code: 01:640:490
• Semester(s) Offered: Spring
• Credits: 3
• Counts toward math major/minor?: Yes
• Prerequisites: Math 485 or B+ or better in Math 477

General Information

The goal of this course is to develop, implement, and present small-group research projects on topics in mathematical finance. The first half of the course will be devoted to learning relevant background material including Brownian motion, Ito calculus, the Feynman-Kacs PDE (connecting probability to PDEs for pricing derivatives), and the Hamilton-Jacobi-Bellman PDE (connecting probability to PDEs to describe optimal investment problems).

The course themes will vary from semester to semester. Some possible themes include universal basic income welfare models in a financial equilibrium, financial modeling with jumps, the rise and use of trading platform apps, using backward stochastic differential equations for financial optimization problems, market microstructure, modeling of mortgages, and sports betting.

Throughout the first half of the course, the mathematical setting for the theme will be covered in enough detail to be a launching pad for the research projects. Each group's specific research project topic will be based on the broader theme and will be generated in collaboration with the instructor and the group. The second half of the course will be devoted to implementing and executing the research projects. The students will present their work to the class in the final two weeks of the semester.

Prerequisites

• 01:640:485.
• Alternatively, 01:640:477 with grade of B+ or A.

To register using the alternative prerequisites, fill out this form.

Textbook

We will not follow a specific textbook, so you are encouraged to take notes in class.  Supplementary material will be posted to our course's Canvas site.

• Course Code: 01:640:489
• Semester(s) Offered: Spring
• Credits: 3
• Counts toward math major/minor?: Yes
• Prerequisites: Math 485 (or B+ or better in Math 477) and Intro Programming (CS 107 or CS 111 or 14:332:252)

General Information

The course starts with Monte Carlo (MC) simulation (in particular, simulation of stochastic differential equations, SDEs) followed by finite difference (FD) methods for PDEs. Applications include fixed income models (Vasicek and CIR), stochastic volatility models (Heston, Stein and Stein, and Bates) and credit derivatives (credit default swaps (CDS) and basket derivatives). A large part of lectures will be devoted to create Matlab code.

Prerequisites

• 01:640:485 and either 01:198:107 or 01:198:111.
• Alternatively, 01:640:485 and 14:332:252.
• Alternatively, 01:640:477 with grade of B+ or A and any one of 01:198:107, 01:198:111, or 14:332:252

To register using alternative prerequisites, fill out this form.

Textbook

We will not follow a specific text so you are asked to take notes in class (if you miss class, ask fellow students for a copy). 

• Course Code: 01:640:130
• Semester(s) Offered: Fall, Spring, Summer
• Credits: 3
• SAS Core Certified: QQ, QR
• Counts toward math major/minor?: No
• Prerequisites: Math 111 or Math 115 or placement

General Information

Math 130 is a calculus course intended for RBS students and some Economics majors. Each section meets twice a week for 80 minutes. Class meetings will be made up of a lecture followed by either a groupwork assignment or quiz. There is no separate recitation.

This course fulfills both the Quantitative Information (QQ) and Mathematical or Formal Reasoning (QR) learning goals of the SAS Core Curriculum.

This is a terminal course and cannot be used as a prerequisite for Calculus 2.

Catalog listing:

01:640:130 Business Calculus (3)

Math 130 provides an introduction to calculus, covering exponential and logarithmic functions, limits and continuity, the derivative and tangent lines, applications of the derivative, and basic integration. Examples will be drawn from business and economics, including market equilibrium, maximizing profit, elasticity, and marginal analysis.

Prerequisites: Math 111 or Math 112 or Math 115 or appropriate performance on the placement test in mathematics.

Textbook

Textbook:  For current textbook please refer to our Master Textbook List page

• Course Code: 01:640:158
• Semester(s) Offered: Fall, Spring
• Credits: 1
• Counts toward math major/minor?: No
• Prerequisites: This is a support course for students currently taking Math 152

General Information (Catalog listing)

01:640:158 Calculus II for Mathematical and Physical Sciences Practicum (1)
Application of algorithms studied in 01:640:152 to problems.
Corequisite: 01:640:152.

This class gives a review of topics that are covered in Math 151 and not in Math 135 (or less heavily). For example, inverse trigonometry, Riemann sums, and vertical integration (dy vs dx). It is intended to help those students more likely to struggle in Math 152 to pass the class successfully. There are ten 80 minute meetings twice a week for the first five weeks of the semester.

Who should take this course?

Students in Math 152 that are good candidates for Math 158 are students who:

• took Math 135,
• received a low grade in Math 151,
• earned a 4 on the AP Calculus AB exam,
• took Calculus I at another school, or
• feel they may be at risk to do poorly in Math 152.

Course Overview

Course Format: There are ten 80 minute meetings twice a week for the first five weeks of the semester.

Grading: The grade will be based on workshops, quizzes, homework, attendance, and participation. There are no exams in this class.

Questions: Students with questions about the course should email Paul Ellis at prellis at rutgers dot edu.

Schedule of Sections: 

 01:640:158 Schedule of Sections

• Course Code: 01:640:157
• Semester(s) Offered: Fall, Spring
• Credits: 1
• Counts toward math major/minor?: No
• Prerequisites: This is a support course for students currently taking Math 151

General Information (Catalog listing)

01:640:157 Calculus I for Mathematical and Physical Sciences Practicum (1)
Application of algorithms studied in 01:640:151 to problems.
Corequisite: 01:640:151.

This class gives a review of precalculus material and discusses proper math notation and vocabulary. It is intended to help those students more likely to struggle in Math 151 to pass the class successfully.

Who should take this course?

Students in Math 151 that are good candidates for Math 157 are students who:

• have a low CLS placement score,
• received a low grade in precalculus, or
• feel they may be at risk to do poorly in Math 151.

Course Overview

Course Format: There are ten 80 minute meetings twice a week for the first five weeks of the semester.

Grading: The grade will be based on quizzes, homework, attendance, and participation. There are no exams in this class.

Questions: Students with questions about the course should email Paul Ellis at prellis at rutgers dot edu.

Enrollment

Students interested in registering for this course can register for any open section.

Problem: Some students are unable to register themselves due to a prerequisite issue. This can be overridden by a dean or advisor. While their enrollment is being sorted out, these students should attend the first class meeting of their preferred section of Math 157.

Schedule of Sections:

 01:640:157 Schedule of Sections

• Course Code: 01:640:125
• Semester(s) Offered: Fall, Spring
• Credits: 2
• Counts toward math major/minor?: No
• Prerequisites: None. Typically taken in parallel with a Precalculus or Calc I course.

Chair:  Michael Beals

Members:  Janos Komlos, Jian Song

The formal requirements for students in the honors track are divided into three main groups of courses:

• 100-200 level courses. There are five required courses: Calculus I (151), Calculus II (152), Multivariable Calculus (251 or 291), Differential Equations (252 or 292), and Linear Algebra (250, or covered via 291-292). Many honors students will receive AP credit for one or more of the calculus classes.  Honors track students should take honors sections of the calculus courses. Honors track students should, if possible, choose one of the MATLAB sections of 250.
• The seminar requirement
• Courses at the 300 level or higher. Students are required to take 9 upper level courses. As described below, each student's program of study must be approved by the honors track committee.

A major part of the program is the requirement to take two rigorous semesters of Real Analysis (411-412, though 501-502 may be substituted with permission) and Algebra (451-452, though 551-552 may be substituted with permission). Honors track students will normally aim to take one (or, with permission, both) of the sequences 411-412 and 451-452 during their junior year. Also, on rare occasions, a student may take one of these sequences in their sophomore year. Students will receive individual advice from their advisors and the honors track committee about when to take these.

Students should prepare for these sequences during their 2nd year  The standard preparation is to take 300H, the honors section of 300, in the fall.  (Students who begin with 291 in their 1st year may consider taking 300H in the spring of their 1st year, along with 292.)  This course is designed to prepare students for all subsequent honors courses.  It is followed by the freshman/sophomore honors seminar 196 in the spring of the 2nd year, as well as 311H or 350H (or both).  Typically, 311H is prerequisite for 411-412, and 350H (or 351-352) is prerequisite for 451-452.

The appropriate course plan for a student depends on a number of factors, and each student should discuss their plans with the chair of the honors committee, and/or their honors track advisor if that person is other than the committee chair.

Students should also normally take a semester of complex analysis (403 or 503) and a semester of probability (477). Students planning to go to graduate school should also normally take Topology (441) since it is a prerequisite for many graduate classes.

The honors track is designed so that students will be prepared to take some of graduate courses in mathematics in their senior year. Taking some graduate courses (suitably chosen) is generally encouraged, though not required for the program.

The honors track is designed so that students will be prepared to take some of graduate courses in mathematics in their senior year. Taking some graduate courses (suitably chosen) is generally encouraged, though not required for the program.

Preparing and your Plan of Study During the semester following their acceptance into the honors track, the student and their honors track advisor would prepare a tentative plan of study.  It outlines the courses the student will take as part of the honors track. Of course, it is generally impossible to make a full plan since the courses a student will take may depend on what they learn from their current courses. So the initial plan can be somewhat vague about the future, and revised as needed, subject to committee approval.  The plan of study can be fairly informal. After preparing it and reviewing it with your advisor you should email it to the chair of the honors committee. Here is a suggested format.

• Your name
• Your expected graduation year
• Your major(s) (Mathematics or Mathematics +…)
• Your plans/goals beyond Rutgers (e.g. graduate school in Math or some other field, employment in some field)
• A list of all courses in Mathematics at the 300 level or higher that you have taken already (including the semester the course was taken and instructor)
• A list of Mathematics courses you plan to take with the given semester. This list may not be final. Your plan for the coming semester should be close to final. For subsequent semesters the plan will be less final, in which case you may want to include some possibilities you are considering (with a few sentences of explanation, if needed).
• Any courses in other departments with significant mathematical content that you think may be relevant.