Financial Computation and Modeling (FCAM) Minor for undergraduate study:
The departments of Statistics and Economics collaborate to offer Rice undergraduate students a minor in financial computation and modeling (FCAM). The FCAM minor consists of six courses focusing on the strategies and computational technologies used in the financial industry. The minor is designed for those students with strong computational skills and an interest in finance. Many students pursuing the FCAM minor enter careers in the financial industry, either immediately after completion of their undergraduate degree or after graduate studies. Students completing the FCAM minor will understand the complexities of financial markets and their role in and impact on world economies. For the last two decades, this sector of our economy has significantly increased its reliance on quantitative probability based methods in assessing risk and implementing financial strategies; strategies on which our economy depends.
The basic tools component of the FCAM curriculum will equip students with the economic, probability and statistical tools necessary to pursue the advanced analytical courses. In the advanced courses, students will be exposed to state-of-the-art models and methodologies. Students will learn to understand, utilize and question basic assumptions of the core methodologies. A goal of the FCAM program is to train leaders in this industry who not only understand the financial technologies but also will understand the role, impact and potential pitfalls of these technologies.
Requirements (contact ensor@rice.edu or thomp@rice.edu for program advice)
Fall 2015+ Matriculation
Basic Tools (Choose Three)
- ECON 100 Microenomics I, OR ECON 301 Micreconomics II
- STAT 310/ECON 307 Probability and Statistics
- STAT 410 Linear Regression, OR ECON 309/STAT 376 Econometrics
Financial Computation and Modeling (Choose three)
- STAT 421 Applied Time Series and Forecasting
- STAT 449 Quantitative Financial Risk Management OR ECON 449 Principles of Financial Engineering. Note students may receive credit for only one of these two courses.
- STAT 486 Market Models
- One course may be chosen from the following:
- ECON 343 Corporate Finance
- BUSI 343 Financial Management
- ECON 443 Financial Economics
- ECON 355 Financial Markets
- ECON 455 Money and Financial Markets
- STAT 482 Quantitative Financial Analytics
Students majoring in economics must take at least one advanced course from statistics. Students majoring in statistics must take at least one advanced course from economics.
FCAM Students are invited to participate in the STAT 499 Mathematical Sciences Seminar on Computational Finance for one-hour credit. This seminar/discussion course is offered ever semester by CoFES faculty (dependent on faculty availability) and is repeatable for credit.
Pre-Fall 2015 Matriculation
Basic Tools (Choose Three)
- Econ 201 Microeconomics I OR Econ 301 Microeconmics II
- STAT 310/ECON 307 Probability and Statistics
- STAT 410 Introduction to Regression and Statistical Computing OR ECON 409/STAT 400 Econometrics
Advanced Courses (Choose Three)
- STAT 421 Applied Time Series and Forecasting
- STAT 449 Quantitative Financial Risk Management OR ECON 449 Principles of Financial Engineering. Note students may receive credit for only one of these two courses.
- STAT 486 Market Models
- One course may be chosen from the following list:
- ECON 243 Corporate Finance
- BUSI 343 Financial Management
- ECON 355 (formerly ECON 255) Financial Markets
- ECON 443 Financial Economics
- ECON 455 Money and Financial Markets