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Master of Applied Mathematics

The Master of Applied Mathematics program at Illinois Tech prepares you to enter the workforce or continued study in graduate school. You will be trained in mathematical modeling, advanced computation, and statistics to embark on exciting quantitative careers in business, finance, and banking or in any business, industry or government agency that relies on large quantities of data.

In addition to the mathematical training, you will also gain a strong background in actuary science and be encouraged to take the Society of Actuaries’ Exam P, the cost of which is generously covered by Illinois Tech’s College of Science. Our project management, communication, and capstone courses round out the curriculum as they provide you with the professional skills requisite for successful quantitative careers.

According to the Bureau of Labor Statistics, “Employment of math occupations is projected to grow 28 percent from 2016 to 2026, which will result in about 50,200 new jobs.” With a master’s degree in applied mathematics, you will leave the program as problem solvers and quantitative professionals ready to meet the demands of the workplace head-on.

This professional master’s degree program can typically be completed in 15 months, with three regular term semesters and one summer semester.

  • Master of Applied Mathematics students Junyu He, Yun Zhou, and Zheyuan Sun with Program Director Charles Tier
    Master of Applied Mathematics students Junyu He, Yun Zhou, and Zheyuan Sun with Program Director Charles Tier
  • Master of Applied Mathematics students Yanlong Wang and Xiao Xu
    Master of Applied Mathematics students Yanlong Wang and Xiao Xu
  • Master of Applied Mathematics student Zhe Wang
    Master of Applied Mathematics student Zhe Wang
  • Master of Applied Mathematics student Le Zhu
    Master of Applied Mathematics student Le Zhu



Students are required to have a bachelor's degree in mathematics, science, engineering, business, or an equivalent degree, with a minimum GPA of 3.0. They are evaluated on an individual basis, but are expected to have taken the following courses (or equivalent courses):

  • Differential Equations
  • Matrix or Linear Algebra
  • Probability or Statistics
  • Computer Programming: Matlab, C, or R

Applicants must submit Graduate Record Examination (GRE) scores. The following minimum GRE scores are required:

304 (quantitative + verbal), 2.5 (analytical writing)

Any applicant whose undergraduate degree was earned at an institution where the primary language of instruction is not English must submit Test of English as a Foreign Language (TOEFL)Pearson Test of English (PTE), or International English Language Testing System (IELTS) scores. Click here for Illinois Tech's English Language Proficiency Test Requirements.  

A professional statement of objectives must be submitted.

At least one letter of recommendation is required.

For more information on how to apply, please visit the Office of Graduate Admission. Note that International applicants must meet English Language requirements and submit financial support documents.

Apply Online »

Program Requirements 


Students are responsible for following all departmental procedures as well as the general requirements of IIT Graduate College. Specific degree requirements include a minimum of 30 credit hours of approved courses and a minimum grade point average (GPA) of 3.0. These credit hours include:

  • 21 credit hours of required courses from the core sequence which includes:
    • a capstone professional experience consisting of a six credit hour course in case studies and project design, or an internship in applied mathematics.
    • a three credit hour professional master's project (MATH 594) under the supervision of a faculty member or an industrial partner.
  • 9 credit hours of electives selected in consultation with, and approval of, the director of the program. These nine credit hours are to be selected from the four different subject areas in the list of approved electives below. The three elective courses can be in one or more of the subject areas.
  • Up to nine hours of 400 level Applied Mathematics courses may be included subject to approval of Program Director.

* All students are encouraged to take the Society of Actuaries' Exam P-Probability which will enhance their career opportunities. The score on the exam will not affect their graduation. The exam fee will be covered by the College of Science.

The director of the program serves as temporary academic adviser for all newly admitted graduate students until an appropriate project supervisor is selected.

Course Requirements

Core Sequences (21 hours)

Applied Math and Computational Science Core (9 hours)
Course Title
MATH 475 Probability -or- MATH 563 Statistics
MATH 577 Computational Mathematics
MATH 522 Mathematical Modeling -or- MATH 564 Applied Statistics
Business and Professional Core (3 hours)
SCI 511 Project Management -or- SCI 522 Public Engagement for Scientists
Capstone Professional Experience (9 hours)
Course Title
MATH 523 Case Studies and Project Design (6 hours) -or- MATH 592 Internship in Applied Mathematics (6 hours)
MATH 594 Professional Master's Project (3 hours)

Elective Subject Areas (9 hours)

1. Advanced Computation
MATH 489 - PDE -or- MATH 461 Fourier Series
MATH 578 - Computational Math II
MATH 565 - Monte Carlo Methods
MATH 581 - Theory of Finite Elements
MATH 589 - Numerical Methods for PDEs
CSC 595 - Advanced Scientific Computing
MSF 526 - Computational Finance
2. Stochastic Modeling and Analysis
MATH 481 - Introduction to Stochastic Processes
MATH 485 - Introduction to Mathematical Finance
MATH 542 - Stochastic Processes
MATH 548 - Mathematical Finance I
MATH 582 - Mathematical Finance II
3. Statistical and Data Analytics
MATH 563 - Statistics
MATH 564 - Applied Statistics (satisfies Society of Actuaries VEE credit)
MATH 565 - Monte Carlo Methods
MATH 567 - Design of Experiments
MATH 574 – Bayesian Computational Statistics
4. Discrete Mathematics and Optimization
MATH 535 - Optimization
MATH 553 - Discrete Applied Math I
MATH 554 - Discrete Applied Math II

Course of Study 


A typical plan of study is based on a student starting in the fall semester.

Fall Semester (first year)
MATH 475 -or- SCI 522
MATH 522 -or- MATH 564
MATH 577
Spring Semester
SCI 511 -or- SCI 522
MATH Elective
MATH 563 -or- Math elective
Summer Semester
MATH 523 - Capstone course: Case Studies and Project Design
MATH 592 - Internship in Applied Mathematics (requires approval)
Fall Semester (second year)
MATH 594 - Professional Master's Project
MATH 577 -or- MATH elective
MATH elective, if needed.

Program Contact 


For more information, please contact:

Program Director
Charles Tier, Ph.D.
Senior Lecturer
Department of Applied Mathematics
Illinois Institute of Technology
tel: 312.567.3523
email: ctier_AT_iit_DOT_edu

Director, Professional Master's Programs and New Initiatives
Elizabeth Friedman, Ph.D.
College of Science
Illinois Institute of Technology
tel: 312.567.7973