Accelerated Master’s Degree Program

A Faster Path for U-M Undergraduates

The Accelerated Master’s Degree Program (AMDP) is a unique opportunity for currently enrolled University of Michigan undergraduates majoring in Mathematics who wish to pursue a 5-year combined BS/MS in Quantitative Finance and Risk Management. The program allows students to take some of the required courses for the graduate program while they are still completing their undergraduate program and use up to 18 of those credits to work toward their graduate degree.

Prospective AMDP students will submit a formal Graduate School application during their senior year. Admitted AMDP students will typically complete the undergraduate degree at the end of their senior year and complete the graduate degree at the end of their 5th year. However, there are other paths to the AMDP, as described in the following section.

Sample Course Plan for AMDP

Fall (Senior Year)

Math 526, Elective

Winter (Senior Year)

Math 472, Elective

Fall (Master’s Year)

Stats 500, Math 573, Elective, Elective

Winter (Master’s Year)

Math 506, Math 574, Math 623, Stats 509

How it Works

AMDP students must meet the course requirements for both the bachelor’s degree and the master’s degree in Quantitative Finance and Risk Management, with up to 12 credits double-counting toward both and an additional 6 credits that can be transferred out of the B.S. into the M.S. Typically, AMDP students double-count Math 472 and Math 526, as well as any eligible electives approved by their Quant Program advisor. Courses in statistics, mathematics, computer science, finance, and economics that are 400-level or above are eligible for consideration if they are relevant to a career in quantitative analyst or financial engineering, but approval is not guaranteed.

Because of the overlapping coursework between the quantitative finance master’s program and the undergraduate concentrations in actuarial mathematics and mathematics of finance and risk management, students in those concentrations are well-positioned to double-count 12 credits or more and complete the master’s program in just two terms. However, any eligible student with any number of double-countable courses may apply to the AMDP and would be able to double-count if admitted. For example, a U-M undergraduate math major who has taken Math 526 and no other eligible courses can apply to the AMDP, double-count the 3 credits from Math 526, and complete the remaining 33 credits as a graduate student.

Admissions Process

AMDP applicants should apply in the winter of their senior year and follow the same procedures and deadlines as applicants to the freestanding program, which are described on our admissions page. There are two exceptions:

  1.  AMDP applicants (and other U-M mathematics undergraduates) need only submit two letters of recommendation instead of three.
  2. GRE scores are not required for these students, though we do welcome and encourage students to send scores if they have them.

All applicants to both programs are considered in the same pool, so there is no advantage or disadvantage to applying one over the other. In most cases, a student who is earning a U-M degree in mathematics should apply to the AMDP rather than the freestanding program.

Additional AMDP Policies

The following are additional requirements for completing the AMDP that prospective students should keep in mind:

 

  • Students applying for the AMDP option must be enrolled as a U-M undergraduate Math majors and must have at least a 3.2 cumulative GPA. Students pursuing either a dual-degree (such as a B.S. and a B.B.A. at U-M or two degrees between U-M and another institution) are not eligible for double-counting but may pursue the freestanding master’s degree. Double majors (such as a B.S. in Mathematics and Statistics) are eligible for the AMDP.
  • All double-counting is subject to advisor approval. A minimum grade of B+ is required in Math 506 and Math 573  and may be enforced for additional courses at the advisor’s discretion.
  • Students in the AMDP option must complete the undergraduate concentration and all requirements for the bachelor’s degree. Students normally apply for the undergraduate degree at the end of the term in which they meet the degree requirements, typically the second semester of their senior year.
  • Students in the AMDP option begin graduate-level coursework in their fourth year of study. Students enroll in Rackham in the fifth year of study and will have completed or be within six credit hours of completing the undergraduate degree.
  • Students may transfer to the master’s degree up to six credits for courses at the graduate level from U-M or other degree-granting universities with graduate degree programs; transfer credits may not be used toward any requirements for the undergraduate or other degrees. Students admitted to the AMDP will be carefully advised about which courses can be transferred toward the master’s degree. Faculty will evaluate courses taken elsewhere to determine whether credit from such courses may be transferred.
  • AMDP students may also double-count up to 12 credits used to meet the requirements of the undergraduate degree to also meet the Master’s degree requirements, for a total of 18 double-counted and transferred credits toward the 36 credits required for the degree. These students will dual enroll for courses that are being double-counted.
  • For AMDP students, a maximum of 18 credits taken outside the year of Rackham registration may be allowed for the master’s degree, including credits that are double-counted (up to 12) or transferred (6).
  • AMDP students must be registered for a minimum of two full terms and a minimum of nine credits in Rackham with no other U-M registration.
  • In order to be eligible for double-counting, students must enroll in the AMDP as a Rackham students within 12 months of undergraduate graduation.