THE University of Chicago, ranked seventh in the Times Higher Learning World University Rankings 2007, will be establishing its Financial Mathematics Graduate Program in Singapore, beginning with the 2007-08 academic year in September. This will be the first time the programme has been offered outside the United States.

In addition, the university's Stevanovich Centre for Financial Mathematics, a recently launched research-oriented affiliate located in Chicago, will also look to establish an active presence in Singapore through a collaborative research initiative.

The University of Chicago's Financial Mathematics Department will be offering its full one-year curriculum leading to a Master of Sciences degree in financial mathematics, which Niels Nygaard, director of the Financial Mathematics Program and of the Stevanovich Centre itself, said would be identical to the curriculum offered in the US. 'We view this programme in Singapore, our first venture abroad, as an integral extension of our offerings at the university,' Prof Nygaard said.

The University of Chicago's faculty members will travel regularly to Singapore to conduct lectures and meet students. Lectures will also be televised on a real-time interactive basis so students in Singapore will be able to participate along with their counterparts in Chicago.

The university foresees an initial enrolment of 15 students and hopes to increase this figure to 25 participants over four years. Applicants will require a strong mathematics background. Tuition fees will be the same as in the US.

Steve Stevanovich, University of Chicago graduate and CEO of SGS Asset Management, said: 'It is easy to find people in Asia with a maths background. It's also easy to find people who have a finance background, but to find people who are trained to put both together has been very difficult. That's why we feel that this programme will create an opportunity to train people who can put the two together.'

Toh Wee Khiang, director, education and professional services, of the Economic Development Board said: 'EDB believes that the Financial Mathematics Graduate Program in Singapore would enhance our Global Schoolhouse Initiative, which envisions Singapore to be a world-class education hub offering a diverse and distinctive mix of quality education services.'

This article was first published by The Business Times on Feb 6, 2008.