Regarding the urge to use new sciences and technologies to address the needs of scientific and industrial sectors and the complex developments of the financial markets such as stock exchange fluctuations, financial investments, interest rate, risk management and the national banking system, the master’s program in applied mathematics was launched.

It has two subdisciplines, namely financial math and optimization. It is based on an education and research-based system and follows the rules and regulation approved by the MSRT Supreme Council of Educational Planning.

It aims to reach the following objectives:

• To train experts who are familiar with economy and management and are able to tap their knowledge in financial jobs in brokerage firms, investment institutes, banks, insurance firms, stocks market and financial departments of governmental and non-governmental organizations.
• To train experts who are able to use computer sciences, computational methods, probabilistic methods, random processes, numerical methods and statistical methods, particularly data analysis to solve financial problems.
• To develop optimization as the most extensive and up-to-date branch of mathematics.
• To develop related interdisciplinary sciences such as operations research, control, etc.

The graduates of financial math would have the opportunity to work in financial institutes such as banks, insurance firms, stock and mercantile exchange markets and financial and credit institutes and continue their studies in mathematics or related fields at doctorate level.

The graduates of optimization would have the opportunity to work as professional experts in scientific institutes and financial, industrial and economic companies or as researchers in economic companies, banks and stock exchange. Moreover, they can continue their studies in optimization or related fields at doctorate level.

The students are expected to complete a total of 32 credits; i.e. 12 major credits, 12 elective credits, two seminar credits and six thesis credits. They are not allowed to take the thesis and seminar credits in the first semester. They should pass at least nine credits to take the seminar credits. Moreover, they should take at least 12 credits (including the major credits) and obtain the approval of the department to take the thesis credits.

The USC Department of Basic Sciences and New Biological Sciences obtained the required permits to launch a master’s program in applied mathematics in 2012 and now offers programs to almost 80 students.