Master’s Degree in Financial Mathematics and Technology

Financial Mathematics and Technology

Financial mathematics holds an increasingly significant position within financial institutions, banks, investment firms, insurance companies, governments, and corporations. These entities rely on mathematical theories and computational tools to address highly complex financial challenges. Moreover, the European Basel II standard compels Israeli banks to align with advanced international practices, employing more sophisticated risk management methodologies.

The evaluation of financial assets in general and the formulation of risk management policies in multi-period and international frameworks have driven the development of mathematical tools grounded in advancements in economics and finance. These tools require quantitative techniques such as: stochastic calculus, fractal analysis, statistics for volatility estimation, specialized financial modeling, artificial intelligence, and dedicated financial management software. Leading firms in finance, banking, insurance, and other sectors depend on mathematical knowledge and its application for economic and managerial purposes.

At the same time, mathematics that is customized to specific problems and skills is becoming increasingly prominent within the mathematical sciences, applied mathematics, as well as mathematical physics, and it is being used in analyzing financial market phenomena (for example, using the heat equation to model market behavior).

The are numerous challenges in the academic curriculum in financial mathematics. On the one hand, it allows mathematics students to address problems with social and economic implications. On the other hand, it requires complex mathematical definitions that integrates theoretical knowledge in probability, stochastic processes, optimization, and computer science (e.g., algorithms, data mining, artificial intelligence) as well as statistics.

In addition, the growing demand for mathematical talent in financial services and high-tech industries, which are developing smart infrastructure for financial management, creates numerous career opportunities with particularly attractive conditions. Consequently, the challenge also lies in equipping exceptional students in mathematics, finance, and economics with the necessary knowledge to understand and capitalize on the many employment opportunities and the understanding of financial markets.

The Department of Mathematics offers several tracks and specializations in the field of financial mathematics: a theoretical (courses-oriented) track or a research (thesis) track, and a theoretical specialization (focused on mathematical models in economics) or a technological specialization (focused on big data processing).

The program is open to holders of bachelor's degrees in the exact sciences / engineering, as well as those with degrees in economics / accounting / business administration. It is designed for people in the workforce – all classes are held on Sunday afternoons and Friday mornings.

Head of the Program

Prof. Baruch Barzel: To schedule a meeting, please contact  baruchbarzel@gmail.com