Offered jointly by the Institute of Mathematical Sciences and the Drucker School of Management, the Master of Science in Financial Engineering (MSFE) provides a flexible interdisciplinary curriculum that allows you to tailor your study to align it with your professional goals. Its hallmark: a close integration of management and mathematics.

This unique program combines a substantial mathematics and finance curriculum that gives you the skills to evaluate complex financial products and help you become a strategic leader in the field. The MFSE program draws on tools from applied math, statistics, and financial and economic theory while integrating managerial concepts and applications. Our program ranks among the top 25 financial engineering programs nationally and gives our graduates excellent preparation for careers in risk management, investment, banking, corporate finance, hedge funds, derivatives, and more.

Program Highlights
  • You may concentrate in data analytics or pursue a dual degree in mathematics to keep yourself competitive in quantitative fields. You’ll learn from experienced practitioners with expertise ranging from emerging markets to risk management and beyond.
  • Financial engineering students may apply to the two-year dual MSFE/MS in Mathematics program to enhance their quantitative knowledge and broaden their professional opportunities.
  • Flexible interdisciplinary curriculum, with a full- and part-time options, lets you tailor your study to align with your professional goals within general finance, quantitative finance, or data analytics.
  • Financial engineering students have the opportunity to participate in client-based projects through the Engineering and Industrial Applied Mathematics Clinic program.
  • MSFE alumni go on to leadership roles in some of the most prominent financial firms and companies in the world, such as Goldman Sachs, Barclays, and AIG.

Program At a Glance

UNITS
40-48 units

COMPLETION TIME
1.5–2 years

TUITION
Cost Per Unit 2017–2018: $1,902

COURSES BEGIN
Fall | Spring

DEGREE AWARDED
MS in Financial Engineering

Featured Courses

MGT 335
Corporate Finance

Develops understanding of financial decision making—including investment decisions, financing decisions, and their interaction—and examines the underlying framework of corporate finance, including valuation, market efficiency, portfolio theory, agency costs, and information costs.

MGT 402
Asset Management Practicum

Studies theories of asset management via textbook and other readings, lectures, case studies and student and guest speaker presentations.

MGT 339
Financial Derivatives

Provides a platform for students to gain expertise on financial derivative instruments and develop the mathematical tools necessary for derivatives analysis, design, and pricing in a managerial context.

MATH 358
Mathematical Finance

Explores the theory of option pricing, with emphasis on Black-Scholes and interest rate models. Requires mature understanding of multivariable calculus and probability.

MATH 454
Statistical Learning

Teaches statisticians and financial engineering practitioners cutting-edge statistical learning techniques to deal with vast and complex data in fields ranging from biology and finance to marketing and astrophysics.

MATH 351
Time Series Analysis

Undertakes an analysis of time series data by means of such particular models as ARIMA, spectral analysis, and associated methods of inference and applications.

Areas of Concentration

 

Curriculum

The Financial Engineering Program at the Drucker School provides a flexible interdisciplinary curriculum. Forty units are required to complete the degree. Twelve of those units are elective courses, which you can choose from the options below.

Core Courses

Corporate Finance
Financial Derivatives
Introduction to Risk Management
Asset Management Practicum
Statistical Theory

Stochastic Processes
Mathematical Finance
Time Series Analysis
Quantitative Risk Management
Optimal Portfolio Theory (2 units)

Electives

Behavioral Finance & Risk Management
Econometrics III
Game Theory
Financial Statement Analysis
Energy Derivatives
Global Finance
Strategy
Financial Strategy & Policy
Competing in a Global Environment
Economics of Strategy
Entrepreneurial Finance
Selected Topics in Finance: Fixed Income & Other Investments
Intro to C++

Numerical Analysis
Partial Differential Equations
Mathematical Modeling
Math Clinic (two-semester sequence)
Linear Statistical Models
Simulation
Numerical Methods for Finance
Credit Risk
Data Mining
Advanced Numerical Analysis
Discrete Mathematical Modeling
Bayesian Data Analysis
Statistical Learning

Curriculum Breakdown

Year 1
Semester Courses Total Units
Fall Corporate Finance, Introduction to Risk Management, Statistics 12 Units
Spring Stochastic Processes, Financial Time Series, Financial Derivatives, Elective (Math or Finance) 16 Units
Year 2
Semester Courses Total Units
Fall Mathematical Finance, Asset Management Practicum, Quantitative Risk Management OR Optimal Portfolio Theory, Elective (Math or Finance) 12 Units

Faculty & Research

  • Henry Schellhorn profile image

    Henry Schellhorn

    Associate Professor of Mathematics
    Academic Director, Financial Engineering Program

    Research Interests

    Financial engineering, Credit risk, Interest rate models

  • Ayca Altintig profile image

    Ayca Altintig

    Assistant Professor of Finance

    Research Interests

    Agency Theory, Corporate Governance and Compensation, International Finance

  • John Angus profile image

    John Angus

    Professor of Mathematics

    Research Interests

    Probability, Statistics, Computing, Algorithms, Navigation, Systems Engineering, Mathematical Finance

  • Marina Chugunova profile image

    Marina Chugunova

    Associate Professor of Mathematics
    Director, Institute of Mathematical Sciences
    Program Director, PhD in Engineering & Industrial Applied Mathematics

    Research Interests

    Surfactant-driven thin film flows in biomedical applications; Nonlinear parabolic equations; Stability problems in fluid dynamics; Scientific computations; Applied operator theory; Sturm-Liouville problems

  • Ellis Cumberbatch profile image

    Ellis Cumberbatch

    Professor of Mathematics Emeritus

    Research Interests

    Applied mathematics, Industrial modeling, Differential equations, Fluid mechanics, Wave propagation, Semi-conductors

  • James Mills profile image

    James Mills

    Clinical Professor of Finance
    Co-director, MSFE Program

    Research Interests

    Corporate finance, Risk management, Commercial banking, Financial engineering

  • Ali Nadim profile image

    Ali Nadim

    Professor of Mathematics
    Joseph H. Pengilly Chair in Mathematics

    Research Interests

    Fluid Dynamics, Mathematical Modeling, Scientific Computing

  • Qidi Peng profile image

    Qidi Peng

    Research Assistant Professor of Mathematics

    Research Interests

    Statistical inferences, Stochastic differential equations, Stochastic modeling, Simulation, Machine learning, Approximation theory, Graph theory

  • Allon Percus profile image

    Allon Percus

    Professor of Mathematics

    Research Interests

    Discrete optimization; Network models; Statistical physics; Random combinatorial structures

  • Andrew Nguyen profile image

    Andrew Nguyen

    Adjunct Professor of Mathematics

    Research Interests

    Stochastic processes, Statistics, Risk management, Financial derivatives, Actuarial sciences, Statistical software

  • Jay Prag profile image

    Jay Prag

    Clinical Associate Professor

    Research Interests

    Corporate finance, Investments, Economics of strategy, Macroeconomics, Nonprofits, Corporate culture

  • James Wallace profile image

    James Wallace

    Associate Professor of Accounting

    Research Interests

    Accounting, Finance, Financial statement analysis, Sustainability

Where You Can Find Our Alumni

Financial Engineering exchange program - view of Lausanne bridge and cathedral in background

Exchange Program

The Financial Engineering program offers its students the exclusive opportunity to participate in an exchange program at the University of Lausanne, located in the beautiful country of Switzerland.

Known for its banking system and situated at the heart of Europe, Switzerland offers our students the opportunity to participate in financial forums and engage in stimulating financial discussions, both with world-renowned faculty and seasoned professionals.

Classes offered in the exchange program are comparable to those offered at CGU. These courses include Asset Pricing, Econometrics, International Finance, Probability, Stochastic Processes, Applied Corporate Finance, and Derivatives.

Request information about the Financial Engineering program

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Julianna Gomez-Anton

Assistant Director of Admissions
T: 909-607-4999 (Direct)
T: 909-607-7811 (Central Admissions)
E: julianna.gomez-anton@cgu.edu