From 'Today'Wednesday • February 6, 2008Seven years after opening its Graduate School of Business in Penang Road, the University of Chicago is kicking off a new graduate course that aims to develop the world's top financial talents here.At a press conference yesterday, the school and the Stevanovich Research Centre announced that they would be offering the University of Chicago's full curriculum leading to a Master of Science degree in Financial Mathematics, a first for the education industry here.It is the first time the university is offering the curriculum outside the United States, said Professor Niels Nygaard, director of both the Financial Mathematics programme and the Stevanovich Centre.Financial Mathematics is the application of theoretical and applied mathematics to price derivatives and the management of financial assets. Prof Nygaard said the course would be well received here given Singapore's reputation as a financial hub.He added: "It's the formula, but you have to have a healthy respect for the market. That's what we try to instil in our students, to understand and listen to people who have experience."Their ultimate success will depend on "how they develop their instincts in the market".The rigorous one-year programme, starting in September, will be taught by professors from the university as well as experienced financial professionals.Lectures will be telecast on a real-time interactive basis so that students in Singapore will be able to participate with their counterparts in Chicago.Hoping to appeal to graduates with a strong background in mathematics, Prof Nygaard said the initial intake would be "fairly small" – between 10 and 15 students. He hopes to increase this to 25 participants in four years' time.