Engineering Mathematics, Statistics and Finance

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The EngSci Mathematics, Statistics and Finance major teaches students the theory behind the financial instruments and markets that impact our global economy.

Financial markets affect everyone from companies raising capital, to pensions generating income for millions of retirees, insurance companies managing risks, and individuals investing their savings. In recent years, advanced financial technologies, such as "robo-advisors", have significantly changed the landscape merging data science and financial mathematics.

Launched in 2010, the Major was the first undergraduate program of its kind in Canada.

Modern financial theory is highly mathematical and statistical in nature. Students gain a strong background in these disciplines and learn how to apply them in quantitative finance through engineering tools such as optimization. Courses explore central finance issues like pricing of options and construction of financial portfolios, and teach students how to use engineering mathematics to tackle financial problems in any domain.

Courses are taught by professors in U of T's Departments of Mechanical & Industrial Engineering and Chemical Engineering & Applied Chemistry, in cooperation with the Department of Statistics, the Department of Mathematics and the Rotman School of Management. The program's location in downtown Toronto, close to Canada's financial heart, gives students access to professionals and companies in this vibrant sector.

Course themes include mathematics and statistics (includes probability, stochastic processes, statistical computation, econometrics), finance and financial engineering (includes economics, option pricing, portfolio optimization, real options), and computation (includes numerical methods, optimization, Monte Carol methods, and partial differential equations).

Students gain the background in mathematical sciences needed for industries such as consulting engineering, the public sector, energy, mining, insurance, banking, aerospace, and manufacturing. They are also well-equipped for graduate studies at top graduate programs in finance, operations research, business management, data science, machine learning, applied mathematics, or statistics.

FAQs

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Students can further their knowledge in student clubs
like UTEFA and UTDST.

Find more student clubs here.

Sample Courses

Where this major can take you

Our graduates work in a wide range of industry and research.  Meet some of our alumni.

Employers for our recent graduates include BCG, BMO Investment Banking, Goldman Sachs, IBM Consulting, JP Morgan, McKinsey & Co., Total Portfolio Management division of CPP, Yahoo.com, and others.

Recent graduates have attended graduate school at U of T, Columbia, Cornell, MIT, Stanford, University of Michigan, and more.

Roy Kwon

Chair of the Engineering Mathematics, Statistics and Finance major

Associate Professor Roy Kwon (MIE)

Professor Kwon works on mathematical optimization for supply-chain management, financial engineering, and smart material design.

rkwon@mie.utoronto.ca

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