Questions about Mathematical Finance

[TCAZN]

Hi, long-time lurker here. I wasn't sure if I should post this thread on this board or on the finance board.

 

Do people study mathematical finance for their PhDs? If so, do they do it in math PhD programs or finance PhD programs?

[WhiteLion]

I think there are multiple options if you want to go into math finance and it really depends on the school. For example, CMU has a math finance specialization in their math phd program, while Purdue has a computational finance group in the statistics department. And then, for example, I happen to know that at Maryland, they have Dilip Madan in the business school finance department who does math finance. Finally, a few schools offer PhDs specifically on math finance, like I know Boston U has one, although I don't know much about it.

I think mainly you have to make sure that wherever you look with offer you opportunities to get the background you need in math/stats, and to a less extent, econ/finance, and that there are faculty with whom you could work doing relevant research. Look at faculty publications/research and student placements and see what best matches your goals.