Applications are closed for all programs with coursework beginning in fall 2022.
Depending upon program space availability, some programs may re-open for transfer student applicants.
However, acceptance would be on a provisional basis pending admittance to Smith.
You can control your individual learning experience by becoming a Smith fellow. Each one-year program is unique and will allow the intense study of a specific area of business, ranging from finance and supply chain to strategic design and global consulting. Most programs require one course in the fall semester and one in the spring semester.
When are Fellows applications open?
Most Fellows applications open in December and close in mid-February for admission to the program for coursework beginning the following academic year beginning with the fall semester. Depending upon program space availability, some programs may re-open for transfer student applicants. However, acceptance would be on a provisional basis pending admittance to Smith.
I am interested in more than one Fellows program. To how many may I apply?
You may apply to as many Fellows programs as you want (applications for each program are evaluated separately and have no bearing on one another), but you may only participate in two programs during any one academic year. Accounting Teaching Scholars, Business Honors QUEST and Business Scholars do not count toward this limit.
How many Fellows programs may I participate in?
We welcome you to complete as many Fellows programs as fit into your academic goals, but you may only participate in two programs during any one academic year. Accounting Teaching Scholars, Business Honors QUEST and Business Scholars do not count toward this limit.
I want to study abroad. How would this affect my participation in my Fellows program?
Unless a program specifically notes that study abroad is incompatible with the 2-semester program, we encourage you to expand your horizon by studying abroad or accepting a semester co-op or internship. It may be possible, though not guaranteed, that you could complete the Fellowship upon your return the following academic year. Short term study abroad courses during winter, spring or summer breaks are always encouraged. See individual program websites for more details and consult with your Academic Advisor.
If I am in the process of applying to the Smith School, may I apply for Fellows at the same time?
You may apply to a Fellows program before you are accepted to Smith, but your admission would be on a provisional basis pending acceptance to Smith.
May I apply to a Fellows program if I am a Smith student on the Shady Grove campus?
Due to scheduling/major restrictions, we are typically unable to offer Fellows admissions to Smith students at Shady Grove. Individual exceptions must be approved.
What should I include in my cover letter for Fellows, and should I follow the standard cover letter format?
You should follow the standard cover letter format and address it to the faculty champion of the program to which you are applying. Introduce yourself and, 1) explain what interests you about the Fellows program, 2) explain how you see it meeting your academic and career goals and 3) explain what can believe you contribute to the program. Some programs may require additional application materials.
I need a resume to apply to fellows; however, I am only a freshman, and I don’t have much on my resume yet. What should I include on my resume?
If you haven’t yet had work experience, you are welcome to list your activities, volunteer and other work in high school, and extra-curricular and other programs you are involved in at Maryland, so the selection committee can see the range of your interests and accomplishments. You should get in the habit of updating your professional resume. It should be a constant work in progress.
Participating in a Smith Fellows program is an honor as it provides a special opportunity to participate in dedicated courses, site visits, and case competitions as well as networking events with special guests from the world of business and alumni.
How do I include Fellows on my resume?
General Restriction for All Fellows Programs
There is no deferred admission to Smith Fellows programs. Students must begin in the first semester of the program sequence or their acceptance to the program will be canceled. Students accepted to programs with pre-requisite course requirements must complete the requirement(s) when the program starts, or acceptance will be canceled. Some programs do, however, allow for concurrent completion of pre-requisite coursework.
Participation
We welcome you to complete as many Fellows programs as fit into your academic goals, but you may only participate in two programs during any one academic year. Accounting Teaching Scholars, Business Honors QUEST and Business Scholars do not count toward this limit. Required Fellows courses and engagement with co-curricular events is expected. Students who fail to complete their Fellows program may not be admitted to another Fellows program in a subsequent academic year.
Enrolling in Fellows Classes
Fellows students will be cleared to register for the appropriate coursework at the appropriate time. Dedicated sections of Fellows Courses are reserved for Fellows students only and no other student will be able to register for them. It is expected the Fellows students complete the required coursework in the proper academic sequence, unless prior approval is received.
Attending Fellows Events and Activities
The majority of Fellows events and activities are restricted to students enrolled in the specific Fellows program. Should space allow, these events may be open to the general student body.
Penalty for No Show
Fellows are expected to act in a professional and courteous manner. Students who RSVP to attend an event but do not attend (i.e., field trip/site visit, guest speaker event), may receive consequences including grade reduction and/or a financial penalty.
The notation in Computational Finance will comprise three courses (with an optional fourth course) that can be completed over a period of four semesters. Learning outcomes include the following:
BUFN400 Introduction to Financial Markets and Financial Datasets is the first course in the notation.
It will be taught in Fall 2022 by Professor Pete Kyle, Distinguished University Professor and Charles E. Smith Chair in Finance.
Fall meeting time is Monday and Wednesday 2 to 3:15 p.m.
The program will be open to CS undergraduates with 60 credits and 3.0 minimum GPA. Students must provide the following by April 29, 2022:
BUFN400 and BUFN403 are required courses. Students can take one or both of BUFN401 and BUFN402 to complete the requirements for the notation.
BUFN400 - Introduction to Financial Markets and Financial Datasets
This course will provide an overview of financial concepts and markets and datasets.
Company financial statements will be used to review concepts including earnings, cash flow, accruals, investment, dividends, etc. The course will introduce concepts related to portfolio theory and asset pricing. It will introduce the fundamentals of the stock market and market microstructure, including bid ask spreads and market liquidity. Advanced topics include event studies, high frequency trading, Over The Counter (OTC) bond markets, and more specialized institutional arrangements including repo markets and foreign currency exchange markets.
Instructors: Pete Kyle, Tom Ernst.
It will be taught in Fall 2022 by Professor Pete Kyle, Distinguished University Professor and Charles E. Smith Chair in Finance.
Fall meeting time is Monday and Wednesday 2:00 to 3:15 p.m.
BUFN401 - Option Theory and Derivatives
This course will introduce Option Theory and the concept of a derivative financial contract whose value is based on some underlying asset, e.g., a stock or bond or commodity. Option theory is a cornerstone of modern finance. Unlike the Capital Asset Pricing Model (CAPM) that determines an appropriate rate of return, option theory relies on arbitrage and the probability that an option will be exercised during some time interval. Common derivative types include stock and bond and index options, futures contracts, forward contracts, and swaps.
Instructors: Steve Heston, Mark Loewenstein, Pete Kyle, Brandon Han.
BUFN402 - Portfolio Management
This course will cover the fundamentals of portfolio management, including asset allocation, investing strategies, and the management of risk. Assets include stocks, bonds, foreign assets, real estate, etc. Topics: Risk management of defined benefit pension plans, including performance measurement and gaming. Also includes mutual fund styles and strategies. Quantitative modeling approaches include predictive regressions, factor models, overfitting models, backtesting, alpha models, signals, portfolio optimization (quadratic programming), leverage constraints, ESG constraints.
Instructors: Russ Wermers, Serhiy Kosak, Mark Loewenstein.
BUFN403 - Capstone Computational Finance Projects
The capstone project will be a semester project in groups of 3 students. The projects may be either academic research projects (co-mentored by a finance faculty member) or an industry focused project (co-mentored by an industry coach).
The projects will apply techniques from the following areas:
Instructors: Louiqa Raschid
Please note that these are potential equivalences and have not been approved.
The Snider Undergraduate Research Experience (SURE) presents undergraduate students in any field at the University of Maryland College Park with individualized research experience.
SURE fellows work with the program’s director to choose a research topic. Then they are uniquely matched with a faculty champion who has expertise in that subject area and acts as the fellow’s advisor. The SURE experience culminates in a public presentation to faculty and peers and a publication. During the program, fellows attend workshops in scoping, research writing and presentation. Fellows receive $250 for participating as well as course credit.
The program promises not only to expose students to hands-on research methodologies but also to offer underclassmen an opportunity to contribute to the collective knowledge pool. Little experience is needed; however, determination, time management, open-mindedness are qualities that distinguish an outstanding SURE fellow.
We at the Ed Snider Center for Enterprise and Markets promote free enterprise and markets by researching what makes individuals, organizations and economies flourish. As an interdisciplinary center, we embrace a diversity of educational backgrounds and want you to know that a business major is not required to participate in SURE. Previous cohorts have welcomed fellows from computer science, business, public policy, behavioral and social sciences. As you consider potential research topics we invite you to explore the Ed Snider Center and Snider Focus websites for themes that resonate with you and also align with our vision and objectives. Please note that SURE cannot offer any lab space for research. If your topic involves lab research, you are responsible for securing a working area or the necessary resources before your interview.
