image

The M.S. in Analytical Finance is a one year, 33 credit hour program that begins in sequence in the summer with a course on derivatives, followed by a core of analytical courses, a core of financial courses, and a core of computing courses. Students who have completed these or similar courses may, with the program director's approval, use approved elective courses as a supplement. An interactive, hands-on project rounds out the rigorous and rewarding academic experience. Each fall, invited field professionals in financial services come to campus to present project topics to students. Topic selection is integrated into coursework and is woven through the fall and spring terms. Results of the project are presented in mid-spring, at a recruiting/placement event designed specifically for graduates of this degree.

Program Learning Objectives

Analytical finance involves the application of financial modeling, mathematics and engineering in order to solve actual financial problems and make better financial decisions. The curriculum is intended for career opportunities in areas such as portfolio management, securities trading, investment banking, risk management and financial information systems.

Upon completing this MS program, a graduate will be able to add value to his/her firm's pricing, hedging, trading and portfolio management decisions by being able to:

Conceptualize real world problems with both mathematical tools/models and theories of investment instruments and financial portfolio management; Demonstrate proficiency in locating/creating, managing and analyzing large scale data sets with advanced computing tools; Integrate tools in probability/statistics, optimization, simulation and information technology, to design financial instruments, transactional systems, and technology-enabled solutions; Bridge the knowledge and skill gaps between financial professionals (e.g., asset managers) and computing/execution professionals (e.g., IT specialists); Communicate key empirical results within the context of the financial marketplace and macroeconomic environment to non-quantitative financial specialists.


Entrance Prerequisites-Foundations

The Program

All students enrolled in this Master of Science Program must successfully complete at least 33 graduate credit hours in a common set of analytical, financial, and computational courses. The program includes a capstone practicum project with a financial services firm. The students will have first hand experience solving real-world problems and make final presentations to a group of potential recruiters. The program design allows students to complete the course requirements in one calendar year provided the set of prerequisites are met.

 

Master of Science in Analytical Finance
Course Requirements (33 credits minimum)*

Analytical Core

Math 467 (3 credits)

Financial Calculus I

Stat 410 (3 credits)

Random Process and Applications

Math 468 (3 credits)

Financial Calculus II

Eco 415 (3 credits)

Econometrics

IE 426 (3 credits)

Optimization Models and Applications

Finance Core

GBUS 422 (3 credits)

Derivatives and Risk Management

GBUS 473 (3 credits)

International Finance

GBUS 421 (3 credits)

Advanced Investments

Computing Core

Eco 424 (3 credits)

Advanced Numerical Methods

IE 447 (3 credits)

Stochastic Programming and Financial Analysis

Capstone Practicum

IE 441 (3 credits)

Financial Engineering Projects

* Students with equivalent courses from an undergraduate degree program will be given credit for fulfilling the field requirement and will be permitted to replace the credits from the list of approved electives (see Table).  The program director(s) must approve courses for each student’s choice of electives.

 

Approved Electives

GBUS 424 (3 credits)

Adv. Topics in Financial Mgt

Eco 460 (3 credits)

Time Series Analysis

IE 404 (3 credits)

Simulation

GBUS 425 (3 credits)*

Real Estate Finance & Investing

Eco 461 (3 credits)

Forecasting

IE 409 (3 credits)

Time Series Analysis

GBUS 426 (3 credits)*

Financial Institutions

Eco 463/IE 458 (3 credits)

Topics in Game Theory

IE 410 (3 credits)

Design of Experiments

GBUS 431 (3 credits)*

Quantitative Finance

Math 463 (3 credits)

Advanced Probability

IE 411 (3 credits)

Networks and Graphs

Eco 416 (3 credits)

Econometric Theory

Stat 434 (3 credits)

Mathematical Statistics

 IE 413 (3 credits)

Advanced Engineering Economy and Replacement Analysis

Eco 423 (3 credits)

Real Options

Stat 438 (3 credits)

Regression Analysis

IE 429 (3 credits)

Stochastic Models and Applications

* Not currently offered

 

Sequence of courses

Summer(pre or post)

Fall

Spring

GBUS 422 (3 credits)
Derivatives and Risk Management		 Math 467 (3 credits)
Financial Calculus I

Math 468 (3 credits)
Financial Calculus II

 GBUS 473 (3 credits)
International Finance

GBUS 421 (3 credits)
Advanced Investments

IE 426 (3 credits)
Optimization Models and Applications		 IE 447 (3 credits)
Stochastic Programming and Financial Analysis

 Eco 415 (3 credits)
Econometrics		 Eco 424 (3 credits)
Advanced Numerical Methods

IE 441  (3 credits)
Financial Engineering Projects

 Stat 410 (3 credits)
Random Process and Applications