| 02/24/2023 |
Nina Wineburgh (NW) submitted MS in Quantitative Finance program revision proposal to NYU OAPRA |
| 03/13/2023 |
Titilayo Weech (TW) provided Nina and Paula with a status update. Will review by the end of the month. |
| 04/06/2023 |
TW followed up with Nina Wineburgh (NW) to request documents be submitted as Word document. |
| 04/06/2023 |
Nina Wineburgh (NW) sent OAPRA required files as Word documents. |
| 05/18/2023 |
AF reaches out to Nina Wineburgh with initial review, indicates that focus should be to ensure proposal rationale addresses all changes since the last registration |
| 05/23/2023 |
AF and JS meet with Stern team to discuss feedback and advise on next steps. Stern is advised to update rationale so that all changes since the last proposal are identified - each section in AF's feedback email should receive their own section in narrative. Stern to make revisions per feedback and send to OAPRA. |
| 06/21/2023 |
Nina Wineburgh sends round 3 of draft documents, along with the following responses to feedback: I have copied and pasted the rationale into the NYSED form in the appropriate section (attached) Rationale must address all curricular changes since the last registration, which I have listed below: Adding 12 credits of Required Courses: Done, No further action needed Removing a Required Core Course (FINC-GB.3332 Portfolio Management): Provide a rationale This is no longer relevant; course is in the curriculum for AY 23-24 Modifying two required core courses (FINC-GB.3333 Debt Instruments and Markets; FINC-GB.3340 Advanced Futures and Options): If these changes to these courses is only clerical and not a substantive content revision, please clarify. If it is substantive, explain the change to content. only clerical - see updated Modifying the capstone requirement: The revision of a capstone needs its own section of the rationale to explain why you changed it and how the new capstone achieves the goal as a summative culminating experience for the entire program. A description of the capstone project should be included in this rationale. see attached Removal of a restricted elective category #1: please explain the original purpose of this content category and why you have chosen to remove the restricted electives in favor of the two required courses see attached Removal of restricted elective category #2: please explain the original purpose of this content category and why you have chosen to remove the restricted electives in favor of the two required courses see attached Shift to a program with only proscribed required courses: please explain the choice to move to a curriculum with all required courses, removing flexibility. see attached Curricular Attachments: Graduate Program Requirements Form: this form was corrupted. Would you mind providing a PDF? Thank you! See attached for both PDF and Word versions |
| 06/22/2023 |
JS completes syllabi review |
| 06/26/2023 |
JS reviews Stern's revisions, reaches out to Nina to set up meeting to discuss final points of feedback: meeting confirmed for 06/28 |
| 06/28/2023 |
JS meets with Nina Wineburgh, small revisions to be completed by OAPRA. Nina clarifies that none of the courses in the proposal are new to the university, and therefore syllabi do not need to be sent to the state. |
| 07/11/2023 |
JS compiles proposal documents and sends PDF to AF for NYSED submission |
| 07/14/2023 |
JS and AF meet to discuss final documents: the capstone syllabus is missing author, and credit integrity is not met. Per AF's instructions, JS reaches out to Nina with the following two options: submit without the syllabus, including only course description/objectives, or modify syllabus ensuring instructional time is met. |
| 07/14/2023 |
Chenya Song replies on Nina's behalf, sends revised syllabus and inquires is students' monthly meetings with sponsors can count towards instructional time. AF confirms this is permissible, and requests the following additional edits to syllabus before submission to NYSED: Would you flesh out the bolded and red part to clarify in the syllabus with what the described 90 min of instructional time is? The 3-credit Spring Capstone course meets for 180 minutes per week for 12 weeks (180 minutes X 12 = 2160 minutes) with an additional minimum of 90 minutes of instructional time completed outside of the classroom (2160 minutes + 90 minutes = 2250 minutes) in order tomeet the federal credit hour requirement (750 minutes X 3 credits = 2250 minutes). This additional instructional time includes the monthly meeting with the sponsors in February, March and April. Additionally, would you provide instructor information for the top of the syllabus (this can just be whomever developed the syllabus, we understand the instructor can change by semester and section). |
| 07/14/2023 |
Chenya responds with the following question: can we count the eligible instructional time in the Fall (0 credit) into Spring (3 credits) to add up to the standard credit hour requirement? Actually if we only consider Spring, the meeting times will only be 10 times according to the syllabus if we exclude the three monthly meetings with the sponsors. I am not sure how long the meetings with sponsors last each time they meet. I was thinking at least 30 mins each time to give the project update or presentation so I added a total of minimum 90 minutes. Chenya asks: Shall we go with Option 2 if we cannot provide clear information on the syllabus to meet the credit integrity? |
| 07/14/2023 |
AF responds, indicating that the two course sections are clearly deeply linked, so it is therefore logical that instructional time could be considered holistically with both counting towards the three credit total. AF suggests meeting to discuss the details before submission. |
| 07/14/2023 |
AF submits proposal to NYSED for review |
| 07/25/2023 |
Nina reaches out to AF and JS to inquire if OAPRA would still like to schedule a follow up discussion sometime in the next few weeks to discuss syllabi and pro-active revisions to the proposal documents, should NYSED request them. |
| 08/08/2023 |
AF responds, confirming meeting should occur and directs JS to schedule. |
| 08/09/2023 |
Nina responds, confirming receipt and requests meeting take place either 08/16 or 08/17. |
| 08/10/2023 |
JS creates meeting invite for 08/17/2023. |
| 08/17/2023 |
NYSED provides feedback: "Please confirm whether or not the revised MS in Quantitative Finance program can be completed full-time as defined by New York State Regulation, even if most students would not complete it that way. Full-time study is defined, for the purposes of financial aid, as enrollment of at least 12 credits per semester. If full-time study is not an option for students, the “Not Full-Time” (N-FT) format will be included in the program’s listing in the Inventory of Registered Programs (IRP). If full-time study will now be offered, please submit a program schedule (template attached) demonstrating how students could move through the revised program meeting the State’s definition of full-time study." |
| 08/17/2023 |
AF informs Stern of NYSED feedback, requests the school fills out sample schedule. Nina confirms, noting that Stern had previously filled out the form - however, credits per semester were less than the 12 required for FT status per NYSED |
| 09/25/2023 |
AF responds to Ellen Stevens' (NYSED) feedback: Dear Ellen, Thank you so much for your thoughtful review. Please see below for our response to your question, as well as the attached sample program schedule: Please confirm whether or not the revised MS in Quantitative Finance program can be completed full-time as defined by New York State Regulation, even if most students would not complete it that way. Full-time study is defined, for the purposes of financial aid, as enrollment of at least 12 credits per semester. If full-time study is not an option for students, the “Not Full-Time” (N-FT) format will be included in the program’s listing in the Inventory of Registered Programs (IRP). If full-time study will now be offered, please submit a program schedule (template attached) demonstrating how students could move through the revised program meeting the State’s definition of full-time study. [References: Sections 52.2(c)(8) and 145-2.1 of Commissioner’s Regulations] NYU Response: The MS Quantitative Finance program qualifies as a full-time program based on the NYS regulations stipulating that full-time status for "programs not organized on a semester or quarter basis," may qualify by completing, "24 semester hours for an academic year of not more than 12 months or the equivalent, as determined by the commissioner." The MS Quantitative Finance program is organized around four terms of varying length (summer, fall, january-term, spring) during which time students complete the 36 credit program over 12 months (although they may take 18 months, if they choose). As this structure does not follow two traditional fall/spring semesters or four standard quarters, and exceeds the full-time 24 credit standard per 12-month academic year, the MS Quantitative Finance should qualify as a full-time program. I have attached the sample student schedule for the 12 month track of the program to this email. Again, thank you so much for your time on this review. Please let us know if we are able to provide any additional information to support the review and approval process. |
| 09/29/2023 |
Ellen Stevens responds: NYSED has approved the program changes, official approval notifications to be sent early next week |
| 10/03/2023 |
NYSED approves proposal, JS sends unofficial notification to Stern |