Dec 26, 2024  
2022-2023 Graduate Catalog 
    
2022-2023 Graduate Catalog [ARCHIVED CATALOG]

Quantitative Risk Analysis and Management, M.S.


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Return to: 7210 Department of Risk Management and Insurance  

The Master of Science program is designed particularly for students who already have an undergraduate degree in business administration and wish to study one of the disciplines in which a major is offered in greater depth. Students who do not have an undergraduate background in business but have already established a career in a field related to one of the M.S. majors may find that the specialized degree can be tailored to fit career needs.

The requirements for each of these major fields of study are given in the following sections.

Chin Lo, Faculty Director, 404-413-7484, clo5@gsu.edu

The mission of the Master of Science in Quantitative Risk Analysis and Management (QRAM) program is to provide students with a solid understanding of the application of mathematics in economics and finance to address contemporary risk management issues. Emphasis is placed on the diagnosis, analysis, pricing and customization of solutions to risk management problems, broadly defined to include both financial and operational risk exposures. The program is designed to prepare students for analytical and technical positions within financial institutions, risk management advisory organizations, and the treasury departments of non-financial corporations. Quantitative in focus, the program is well suited for students with undergraduate and graduate degrees in mathematics, statistics or similar technical disciplines. Students with an MBA or undergraduate degree in economics, finance or actuarial science, who can demonstrate the necessary skills in mathematics, also make excellent candidates.

The MS in Quantitative Risk Analysis and Management can be completed in 16 months over three semesters. Since the core courses are designed in a lockstep format, students should be prepared to begin their core sequence during the fall semester. Students who have not completed the foundational requirements for the degree should apply for admission during either the spring or summer semester so they can complete the prerequisites before the core sequence begins in the fall. Please contact the QRAM program director for advice about the appropriate time when you should apply to enter the program.

Two dual-degree options are available: one in which students will earn both the Master of Actuarial Science degree and the Master of Science in Quantitative Risk Analysis and Management (MAS/QRAM); and one in which students will earn both the Master of Science in Analytics degree and the Master of Science in Quantitative Risk Analysis and Management (MSA/QRAM). The programs provide students with increased career opportunities in the financial services industries specializing in the application of quantitative methods to solve complex business problems in an era of financial services and capital markets convergence.

Degree Requirements


Regulations for the Degree A maximum of 9 hours of transfer credit is permitted in this 30-hour program or in the 48-hour dual degree programs.

Foundation Requirements


These courses are in addition to the 30 hours required for the QRAM degree or in addition to the 48 hours required for the dual degree programs. They are assigned as part of the admissions process based on a review of each student’s transcripts.

Mathematics: Students must have completed three semesters of advanced calculus (MATH 2211, MATH 2212 and MATH 2215).

Statistics: Students must have completed two semesters of undergraduate mathematical statistics (MATH 4751, MATH 4752). Alternatively, these requirements can be satisfied by taking ECON 8710  or MSA 8190 .

Course Requirements: Master of Science in Quantitative Risk Analysis and Management


This section is applicable to students interested in the MS in Quantitative Risk Analysis and Management. Students interested in the dual degree programs should go to Section 3 (MAS/QRAM) or Section 4 (MSA/QRAM) below.

Required Technical Support Courses


The following courses must be completed within the first 18 hours of 8000-level course work.

Elective Courses in the Specialization


Students should consult with the program director prior to beginning their elective coursework and may select from among the following courses.

Students may select, with the prior approval of the Faculty Director, electives other than those shown above if they can demonstrate the course(s) will better meet their educational objectives.

Course Requirements: Dual Degree Master of Actuarial Science and Master of Science in Quantitative Risk Analysis and Management Program.


This section is applicable to students interested in the dual degree program Master of Actuarial Science and Master of Science in Quantitative Risk Analysis and Management. Students interested in the MS in Quantitative Risk Analysis and Management should go to Section 2 above. Students interested in the dual degree program between the Master of Science in Analytics and the Master of Science in Quantitative Risk Analysis and Management Program should go to Section 4 below.

Required Technical Support Courses


The following courses must be completed within the first 18 hours of 8000-level course work.

Required Courses in the Dual Degree Program


Elective Courses in the Dual Degree Program


Students should consult with the program directors for the Master of Actuarial Science and Quantitative Risk Analysis and Management programs prior to beginning their elective coursework and may select from among the following courses:

Students may select, with the prior approval of both program directors for the dual degree program, electives other than those shown above if they can demonstrate the course(s) will better meet their educational objectives.

Course Requirements: Dual Degree Master of Science in Analytics and Master of Science in Quantitative Risk Analysis and Management Program.


This section is applicable to students interested in the dual degree program Master of Science in Analytics and Master of Science in Quantitative Risk Analysis and Management Program. Students interested in the Master of Science in Quantitative Risk Analysis and Management should go to Section 2 above. Students interested in the dual degree program between the Master of Actuarial Science and the Master of Science in Quantitative Risk Analysis and Management Program should go to Section 3 above.

Required Technical Support Course


The following course must be completed within the first 18 hours of 8000-level course work.

Required Courses in the Dual Degree Program


** Students who have completed AS 4340 and/or AS 4350 or their equivalents must substitute appropriate 8000-level actuarial science courses for AS 8340  and/or AS 8350 . The substitutions must be selected from section C below in consultation with the actuarial science program director.

Elective Courses in the Dual Degree Program


Students should consult with the program directors for the Master of Actuarial Science and Quantitative Risk Analysis and Management programs prior to beginning their elective coursework and may select from among the following courses:

Students may select, with the prior approval of both Faculty Directors for the dual degree program, electives other than those shown above if they can demonstrate the course(s) will better meet their educational objectives.

Program of Study


Each student’s program must be planned in consultation with the Faculty Director of the QRAM program and a copy of the program filed with the Office of Graduate Student Services for review and approval. The program of study should be planned before the student takes a non-required course. Progress toward the degree, including clearance for graduation, can be confirmed only with an approved program of study. Any changes in the program must be approved by the Faculty Director and a copy of the changes sent to Office of Graduate Student Services. Students always must consult the Course Descriptions chapter of the current graduate catalog to determine if they have met the prerequisites for any course to be taken.

Time Limit


The time limit for completing the QRAM program is five calendar years from the first semester a course in section 2-4 is taken.

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