Mount Union College Announces New Major in Financial Mathematics
May 25, 2010
Mount Union College has added a new major in financial mathematics to its curriculum. Classes will begin with the fall semester of 2009.
In recent years, the need for additional analytical and technical skills in financial and risk analysis has grown significantly. The technical nature of modern financial and economic analysis requires a student with a strong mathematical and computational background in addition to strong skills in business and economics.
The new financial mathematics major at Mount Union College is designed to provide the student with these skills. The major explores the mathematics of investment as well as attitudes toward risk and the behavior of investors, firms, and the whole market.
The marketplace is also demanding this new combination of skills. The need for technically savvy analysts is large and growing. Professional opportunities for actuaries, a prototype occupation for financial mathematics, are always near the top of employment projections.
In addition, the continued spread of free-market economies increases the potential for these graduates to have international impact in an environment that seeks those who have a worldview shaped by the classical liberal arts and complemented by cutting-edge financial analysis. In addition to core career opportunities in finance this major will help prepare students for related careers, for example, in the actuary field.
The Bureau of Labor Statistics projects that over a 10 year period employment growth will be 10% for mathematicians, 11% for operations research analyst, and 24% for actuaries, the latter being closest among long-standing careers to the newer careers in financial mathematics. And the BLS forecasts a 34% growth over 10 years for the broader field of financial analysis.