Master of Applied Mathematics Program By Illinois Institute of Technology |Top Universities

Master of Applied Mathematics

Master of Applied Mathematics

Students in IIT’s Master of Applied Mathematics program develop state-of-the-art skills in mathematical modeling, analysis, statistics, and computation - all necessary for a successful mathematical career in business or industry. To enhance this education, students are required to take the Society of Actuaries’ Exam P, the cost of which is generously covered by the College of Science. This non-thesis professional master's degree program provides graduates with mathematics training, project management, and communication skills. Thus, our graduates leave the program as problem solvers ready for the work environment. Often undetected, the expertise of applied mathematicians is everywhere, from small, local businesses to worldwide conglomerates. Applied mathematicians have a significant impact in the fields of finance, banking, and insurance. Their expertise is required to design complex financial transactions, to quantify risk assessments, and to develop products for the insurance industry as actuaries. Crain’s Chicago Business suggests that jobs in which employees use “statistical modeling to determine insurance-related risks and probabilities” are among the highest paying of 2015, and according to the Bureau of Labor Statistics, “Employment of actuaries is projected to grow 26 percent from 2012 to 2022, much faster than the average for all occupations.” This professional master’s degree program can typically be completed in 15 months, with three regular term semesters and one summer semester.