Quantitative Risk Analysis & Management, M.S.

Application Requirements
M.S. in Quantitative Risk Management & Insurance students, including those pursuing a dual degree, can enter the program in the fall or spring.

• Online application and $50 application fee.
• A GMAT or GRE score is not required.
• College transcripts
• Personal statement
• Resume – No work experience required.
• Additional requirements apply for international applicants

Learn more about the application process and what you will need to apply.

Note: Please visit the “Curriculum” tab for information on the program pre-requisites. When applying, please select fall or spring only as it is not possible to start the program requirements in the summer.

The Master of Science in Quantitative Risk Analysis and Management (QRAM) program comprises 30 credit hours with 8 required and 6 credit hour electives. A maximum of 9 semester hours of transfer credit is possible in this 30-hour program or in the 48-hour dual degree program.

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.
• Statistics: Students must have completed two semesters of undergraduate mathematical statistics.

Introductory Courses (2 courses, 6 credit hours)

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

MSA 8010 Data Programming for Analytics
ECON 8740 Applied Statistics and Econometrics

Core Required Courses in the Specialization (8 courses, 24 credit hours)

RMI 8300 Predictive Risk Modeling
RMI 8370 Financial Risk Management
RMI 8450 Machine Learning for AS and RM
QRAM 8610 Financial Engineering
QRAM 8630 Interest Rate Models
ECON 8780 Financial Econometrics

Elective Courses (Choose at least 2 courses, 6 credit hours)

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

FI 8000 Valuation of Financial Assets
FI 8090 Financial Data Analytics
FI 8092 AI and Machine Learning Applications in Finance
FI 8200 Derivative Markets
FI 8460 The FinTech Ecosystem
FI 8462 Blockchain Business Disruption
MSA 8030 Communicating with Data
MSA 8200 Predictive Analytics
MSA 8600 Deep Learning and Generative AI
QRAM 8600 Theory of Risk Sharing
QRAM 8640 Advanced Credit Risk Models
RMI 8350 Enterprise Risk Management
RMI 8400 InsurTech: New Technologies in Insurance Markets

Sample Curriculum - In-person, fall admittance

Fall 1

ECON 8740 Applied Statistics & Econometrics
MSA 8010 Data Programming
RMI 8370 Financial Risk Management Elective

Spring 1

QRAM 8610 Financial Engineering
RMI 8300 Predictive Risk Modeling
RMI 8450 Machine Learning for AS and RM Elective

Fall 2

ECON 8780 Financial Econometrics
QRAM 8630 Interest Rate Models

Tuition per credit hour
Georgia residents: $511
Non-Georgia residents: $1,373
Out-of-Country residents: $1,400

Tuition is subject to change.

Financial Aid

Contact Graduate Student Financial Services
We are here to help you understand the cost of your program (including the financial aid cost of attendance (https://sfs.gsu.edu/resources/coa/), the payment schedule and financing opportunities.

[email protected]
404-413-7086

Scholarships

Robinson Scholarships

Robinson offers several scholarships through the Office of the Dean as well as the individual academic departments.

Learn More and Apply

Search Georgia State’s Database

Georgia State offers a robust searchable database containing scholarships offered through the university as well as external websites.

Search the Database

Graduate Assistantships

Graduate assistantship positions cover 100% of tuition and include a stipend. All admitted students are automatically considered, but assistantships are not guaranteed.

Learn More and Apply

Loans

• Federal Direct Loans and online FAFSA application for Federal Student Aid
• Private Education Loans

You will be paired with a Graduate Student Engagement professional who stays on top of the extracurricular programming that will enhance your academic journey and propel your career. Activities include boot camps on topics that are relevant to your field, professional workshops, networking events, recruiting fairs, and meet-and-greets intended to create camaraderie with your peers.

Learn More about the Graduate Student Engagement Team

Team-Based Real-World Projects: Engage in intensive Sprints to solve actual industry problems, guided by faculty and in collaboration with our industry partners.

Graduate Assistantships: Benefit from hands-on experience, mentorship, and tuition waivers through our valuable assistantship opportunities.

The mission of the Master of Science in Quantitative Risk Analysis and Management program is to provide students with a solid understanding of the application of mathematics in economics and finance to address contemporary risk management issues.

To accomplish the educational goals of this program, we employ a variety of learning tools and resources, including hands-on case studies and projects resembling real-world problems. Students are encouraged to use Generative AI for homework, projects, and developing critical thinking skills: 1) Leverage AI to enhance course exploration, not as a substitute for active engagement; 2) Critically evaluate AI outputs, understand reasoning, and respect intellectual property; 3) Adopt dual roles: a) Research Assistant, using AI for data analysis, examples, and literature reviews, and b) Learning Assistant, using AI for concept understanding and problem-solving.

Graduates will master mathematical applications in finance, leverage AI for advanced analysis, and develop critical thinking skills to solve modern risk management issues.