M.B.A. in Business Administration
The Stevens MBA program offers various formats to cater to diverse student needs, inclu...
M.S. in Applied Mathematics
Hoboken, New Jersey
INTAKE: Jan & Sept
Program Overview
The M.S. in Applied Mathematics is a 30-credit program, typically completed within 1.5 to 2 years. It is structured to provide a deep understanding of core mathematical principles while allowing for specialization through various concentrations. Students gain expertise in analyzing complex problems, developing mathematical models, and applying computational techniques to find solutions. The program is flexible, offered in both on-campus and online formats, accommodating full-time students and working professionals.
STEM-designated: Yes, the Stevens Institute of Technology M.S. in Applied Mathematics program is STEM-designated. This is a significant advantage, particularly for international students. The STEM designation makes them eligible for a 24-month extension of their Optional Practical Training (OPT) in the United States, allowing for a total of up to three years of valuable post-graduation work experience. This highlights the program's strong quantitative and technical rigor, which is highly valued in the job market.
Curriculum: The 30-credit curriculum encompasses six core courses and four elective courses. Core subjects typically include Introduction to Probability Theory (or Probability), Statistical Methods (or Mathematical Statistics), Actuarial Finance I, Actuarial Finance II, Short-Term Actuarial Mathematics, and Long-Term Actuarial Mathematics. Students can then choose from three concentrations: Differential Equations, Optimization of Stochastic Systems, or Data Science. Electives cover advanced topics such as Numerical Linear Algebra for Big Data, Time Series Analysis, Stochastic Processes, Nonlinear Optimization, Dynamic Programming and Reinforcement Learning, and Mathematical Models of Risk. The program also emphasizes hands-on experience with software like R, SAS, and MATLAB.
Research Focus: The M.S. in Applied Mathematics program at Stevens has a strong applied research focus, emphasizing the application of mathematical principles to real-world problems in science, engineering, and business. Students are encouraged to develop mathematical models from governing laws in physics, chemistry, biology, or create stochastic models from observed data, as well as models for optimal decision-making and control. The curriculum aims to equip students with methodologies to analyze these models, develop numerical methods, and use or develop software to solve formulated mathematical problems. Faculty members are actively engaged in research in areas such as stochastic optimization, applied probability theory, and differential equations, often in collaboration with industry and government partners, enriching the program's practical research orientation.
Industry Engagement: Stevens Institute of Technology places a high priority on industry engagement for its Applied Mathematics program, leveraging its strategic location near New York City's financial and technology hubs. The program prepares students for careers at the "interface between mathematics and applications in science, engineering and business." The Department of Mathematical Sciences actively connects students with successful professionals through events like the "Industry Connection Series," where alumni and experts from diverse fields (including AI, machine learning, and software engineering) share insights on applying mathematical sciences in real-world industries. This strong industry connection, combined with networking opportunities and a high employment rate (98% within six months of graduation for the School of Engineering and Science), ensures graduates are well-prepared for the workforce.
Global Perspective: Stevens Institute of Technology fosters a global perspective within its M.S. in Applied Mathematics program through its diverse student population and the universal applicability of advanced mathematical and analytical skills. The program attracts students from various countries, creating a multicultural learning environment that enriches classroom discussions and provides diverse viewpoints on global challenges. The curriculum itself prepares graduates to solve problems on a global scale, relevant to international businesses, scientific endeavors, and engineering projects. This global outlook, coupled with the program's robust technical foundation, prepares graduates to contribute to innovation and problem-solving in an increasingly interconnected world.
Location
Hoboken, New Jersey
Score
IELTS 6.5
Tuition Fee
USD 46048
Postgraduate Entry Requirements
Academic Qualifications: Applicants for postgraduate programs typically require a minimum academic achievement of 70% or above in their bachelor's degree.
English Language Proficiency:
- IELTS: Overall band score of 6.5 or 7.0 with a minimum of 6.0 in each component.
- TOEFL: Overall score of 74 or higher.
- DET (Duolingo English Test): Minimum score of 110.
Stevens Institute of Technology offers a variety of scholarships specifically designed to support international students, helping to make a world-class education more affordable and accessible. These scholarships recognize academic excellence, leadership potential, and contributions to the campus community.
Merit-Based Scholarships: Stevens provides competitive merit scholarships for international undergraduate and graduate students based on academic performance, standardized test scores, and other achievements. These awards can significantly reduce tuition costs and are automatically considered during the admissions process for many programs.
Need-Based Financial Aid: While limited, some need-based aid options are available to international students. Applicants are encouraged to provide detailed financial information to be considered for such assistance.
Graduate Fellowships and Assistantships: International graduate students may be eligible for fellowships, research assistantships, or teaching assistantships, which offer tuition waivers and stipends. These opportunities not only provide financial support but also valuable hands-on experience in research and academic work.
Special Scholarships: Stevens occasionally offers specialized scholarships targeting students from certain countries, underrepresented fields, or those pursuing specific disciplines like engineering, business, or cybersecurity. Prospective students should check the official Stevens website or contact the admissions office for current scholarship opportunities.
A Master of Science (M.S.) in Applied Mathematics from Stevens Institute of Technology, situated in Hoboken, New Jersey, offers a highly versatile and STEM-designated degree that prepares graduates for analytical roles across a multitude of sectors.
Data Scientist: Leveraging their strong foundation in statistics, probability, and computational mathematics, graduates can analyze large, complex datasets to identify patterns, build predictive models, and extract actionable insights. This role is in high demand across tech, finance, healthcare, and retail industries.
Quantitative Analyst (Quant): Especially with a concentration in Optimization of Stochastic Systems or Data Science, graduates are well-suited for roles in financial institutions. They develop and implement complex mathematical models for pricing financial instruments, managing risk, and devising trading strategies.
Operations Research Analyst: These professionals use advanced mathematical modeling, optimization techniques, and statistical analysis to improve efficiency and decision-making in organizations. They tackle problems in logistics, supply chain management, resource allocation, and scheduling across various sectors.
Applied Mathematician/Research Scientist: Graduates can work in R&D departments in various industries (e.g., aerospace, defense, pharmaceuticals, energy) or in government labs, developing new mathematical models and algorithms to solve complex scientific and engineering problems. Some may also pursue Ph.D. programs and careers in academia.
Actuarial Analyst/Actuary: For those who pursue relevant electives or the Actuarial Mathematics and Quantitative Risk program (a closely related MS at Stevens), applied mathematics provides the rigorous quantitative background needed to assess and manage financial risks in the insurance and pension industries, working towards professional actuarial designations.
Financial Analyst/Financial Modeler: In this role, graduates apply mathematical and statistical techniques to analyze financial data, build financial models (e.g., for valuation, forecasting, budgeting), and provide insights that support investment decisions and corporate financial planning.
Modeling Engineer: Working in engineering firms or manufacturing, these professionals create mathematical and computational models to simulate physical systems, predict performance, and optimize designs for products, processes, or structures.
Statistician: With a strong emphasis on statistical methods, graduates can work as statisticians in fields such as healthcare, pharmaceuticals, market research, or government. They design experiments, collect and analyze data, and interpret results to inform policy or product development.
Software Engineer (with Analytical Focus): Graduates with strong programming skills and an understanding of algorithms can develop software solutions, particularly those involving numerical methods, data processing, or complex algorithms in areas like scientific computing, data visualization, or financial software.
Machine Learning Engineer: Given the overlap with data science and AI, graduates can develop and implement machine learning algorithms and systems. They contribute to areas like predictive analytics, pattern recognition, and automation in various technology-driven applications.
