Each Student is Required to Participate in an Internship or Project

Register for three (3) hours or more of ECG/MA/ST* 689 or 693. (How to choose the correct course). Registration while participating in the project or internship is required.

If you do not complete your project or make adequate progress while registered for 6**, you will be given the grade of "U" for Unsatisfactory.

Requirements for the Financial Mathematics Internship

There are no waivers of these requirements

1. The internship must be pre-approved.
2. The student must be enrolled in 689 or 693 while participating in the internship.
3. Students must submit (brief) reports
   1. Initial Report -- before the internship
   2. Intermediate Report -- approximately halfway through the internship
   3. Final Report -- at the end of the internship, one from the student and one from the employer

Not all summer internships qualify as a Financial Mathematics Internship.

To qualify as an internship, the position must utilize a significant portion of the topics in the six core classes.

Examples of positions that likely will qualify include

1. Pricing commodities futures, such as Energy
2. Hedge fund (back-office work)
3. Software company developing risk management tools

Examples of positions that likely will not qualify include

1. Trader
2. Consumer investments (e.g. selling products and services directly to consumers)

Your performance will be jointly evaluated by your Financial Math advisor and your internship advisor/supervisor.

Requirements for the Project

There are no waivers of these requirements

1. The student must be enrolled in 689 or 693 while participating in the project.
2. A report will be submitted at the end of the project

In general, the project will be centered around some combination of;

1. applcation of methods and models learned in your FM courses,
2. use of real data,
3. analysis of methods (e.g. a study of the 'greeks'),
4. assistance with the research program of the faculty, and
5. replicating results found in the literature.

Students should expect to spend half-to-full time for a semester on the project.

Your performance will be evaluated at the discretion of your project advisor.

*The designation of the course, such as ECG, or MA, or ST, will correspond to the home department of your faculty mentor.