Minor in Financial Computation and Modeling
Program Learning Outcomes for the Minor in Financial Computation and Modeling
Upon completing the minor in Financial Computation and Modeling, students will be able to:
- Demonstrate knowledge of statistical, mathematical, and computational techniques and methods and how to choose and apply appropriate methods to questions or problems in the field of finance.
- Understand the basic concepts of Economic Theory and how they apply to financial markets as well as how financial markets impact global economies.
- Demonstrate an understanding of basic financial databases and the ability to use technologies, like R and Excel, to model and solve financial problems.
- Understand core quantitative modeling concepts and demonstrate key skills necessary for working in the field of finance and investing.
- Demonstrate the ability to understand, interpret, and critically evaluate empirical financial studies and investment strategies.
Requirements for the Minor in Financial Computation and Modeling
Students pursuing the minor in Financial Computation and Modeling must complete:
- A minimum of 7 courses (20-23 credit hours, depending on course selection) to satisfy minor requirements.
- A minimum of 5 courses (16 credit hours) taken at the 300-level or above.
The courses listed below satisfy the requirements for this minor. In certain instances, courses not on this official list may be substituted upon approval of the minor’s academic advisor or, where applicable, the Program Director. (Course substitutions must be formally applied and entered into Degree Works by the minor's Official Certifier). Students and their academic advisors should identify and clearly document the courses to be taken.
Summary
| Code | Title | Credit Hours |
|---|---|---|
| Total Credit Hours Required for the Minor in Financial Computation and Modeling | 20-23 | |
Minor Requirements
| Code | Title | Credit Hours |
|---|---|---|
| Core Requirements 1 | ||
| ECON 100 | PRINCIPLES OF ECONOMICS | 3 |
| STAT 310 / ECON 307 | PROBABILITY AND STATISTICS | 3-4 |
| or STAT 311 | HONORS PROBABILITY AND MATHEMATICAL STATISTICS | |
| or STAT 315 / DSCI 301 | PROBABILITY AND STATISTICS FOR DATA SCIENCE | |
| STAT 376 / ECON 310 | ECONOMETRICS | 4 |
| or STAT 410 | LINEAR REGRESSION | |
| STAT 499 | TOPICS IN STATISTICAL SCIENCES 2 | 1-3 |
| Elective Requirements | ||
| Select 3 courses from the following 2 groups: 1, 3 | 9 | |
| Group I | ||
| SIMULATION MODELING AND ANALYSIS | ||
| STOCHASTIC CONTROL AND APPLICATIONS | ||
| OPTIMIZATION METHODS IN FINANCE | ||
| PRINCIPLES OF FINANCIAL ENGINEERING | ||
| MONEY AND BANKING | ||
| TOPICS IN BUSINESS ECONOMICS: FINANCIAL MARKET AND INVESTMENTS | ||
| MATHEMATICAL FOUNDATIONS FOR COMPUTATIONAL ECONOMICS | ||
| APPLIED TIME SERIES AND FORECASTING | ||
| QUANTITATIVE FINANCIAL RISK MANAGEMENT | ||
| COFES BLOCKCHAIN AND CRYPTOCURRENCIES | ||
| Group II | ||
| FINANCIAL MANAGEMENT | ||
| CORPORATE FINANCE | ||
| FINANCIAL MARKETS | ||
| INTERNATIONAL ECONOMICS AND FINANCE | ||
| QUANTITATIVE FINANCIAL ANALYTICS | ||
| MARKET MODELS | ||
| Total Credit Hours | 20-23 | |
Footnotes and Additional Information
| 1 | A minimum of 5 courses (16 credit hours) must be taken at the 300-level or above. |
| 2 | Students pursuing the FCAM minor should enroll in the CoFES Quantitative Finance section of STAT 499 Topics in Statistical Sciences. The course schedule can be found at https://courses.rice.edu/. |
| 3 | A minimum of 1 course (3 credit hours) must be taken from each group to satisfy Elective Requirements. |
Policies for the Minor in Financial Computation and Modeling
Program Restrictions and Exclusions
Students pursuing the minor in Financial Computation and Modeling should be aware of the following program restriction:
- As noted in Majors, Minors, and Certificates, i.) students may declare their intent to pursue a minor only after they have first declared a major, and ii.) students may not major and minor in the same subject.
Transfer Credit
For Rice University’s policy regarding transfer credit, see Transfer Credit. Some departments and programs have additional restrictions on transfer credit. Requests for transfer credit must be approved for Rice equivalency by the designated transfer credit advisor for the appropriate academic department offering the Rice equivalent course (corresponding to the subject code of the course content). The Office of Academic Advising maintains the university’s official list of transfer credit advisors on their website: https://oaa.rice.edu. Students are encouraged to meet with the applicable transfer credit advisor as well as their academic program director when considering transfer credit possibilities.
Additional Information
For additional information, please see the Students > Undergraduate page on the Center for Computational Finance and Economic Systems website: https://cofes.rice.edu/.
Opportunities for the Minor in Financial Computation and Modeling
Academic Honors
The university recognizes academic excellence achieved over an undergraduate’s academic history at Rice. For information on university honors, please see Latin Honors (summa cum laude, magna cum laude, and cum laude) and Distinction in Research and Creative Work. Some departments have department-specific Honors awards or designations.
Finance Seminar
Students pursuing the FCAM minor have the opportunity to participate in STAT 499 Topics in Statistical Sciences for 1 credit hour (the CoFES Quantitative Finance section). Students are also encouraged to take part in the annual Eubank Conference on Real World Markets and join the student computational finance club.
Internship and Research Opportunities
The Center for Computational Finance and Economic Systems (CoFES) and the Department of Statistics encourages the practice of quantitative finance through summer internships, employment and research. Information on current opportunities are distributed to students through an FCAM email list.
Additional Information
For additional information, please see the Students > Undergraduate page on the Center for Computational Finance and Economic Systems website: https://cofes.rice.edu/.