Financial Engineering

Financial Engineering

Suggested Study Plans for Financial Engineering Quantitative and Technology Tracks

The vast complexity of financial markets compels industry to look for experts who not only understand how they work, but also posses the mathematical knowledge to uncover their patterns and the computer skills to exploit them. To achieve success, banking and securities industries must come to grips with securities valuation, risk management, portfolio structuring, and regulation-knowledge embracing applied mathematics, computational techniques, statistical analysis, and economic theory. The goal of the degree is to produce graduates who can make pricing, hedging, trading, and portfolio-management decisions in the financial services enterprise. With sharply honed practical skills complimented by strong technical elements, graduates are in demand in the industries of investment banking, risk management, securities trading and portfolio management.
   
The Master’s program consists of 10 courses for a total of 30 credits. Students wishing to enroll in any of the FE programs must have an undergraduate degree in an engineering or science discipline, and must have completed coursework in:

• Calculus and Differential Equations,
• Probability and Statistics,
• Linear Algebra, and
• Programming Languages C++ or Java and Spreadsheets.

Students must also some basic knowledge in FE.  Students without this background should enroll in FE 510. Note that FE 510 cannot be used as a course for a FE degree.
   
There are two tracks in the MS in FE program: Quantitative Financial Engineering and Financial Engineering Technology. Both tracks require the same core courses and include:

FE 610 Probability and Stochastic Calculus
FE 620 Pricing and Hedging
FE 621 Computational Finance
FE 630 Portfolio Theory and Applications
FE 699 Project in Financial Engineering or
FE 700 Masters Thesis in Financial Engineering

For the Quantitative FE Track the following courses are required:

MA 547 Advanced Calculus
MGT 625 Investments and Capital Markets
MA 650 Partial Differential Equations
Plus two courses from the following list:
FE 680 Advanced Derivatives
MA 653 Numerical Solutions of Partial Differential Equations
MA 615 Numerical Analysis I
MA 641 Time Series Analysis I
MGT 700 Econometrics
MGT 730 Design and Analysis of Experiments
MGT 710 Risk Management Methods and Applications

For the FE Technology Track with a concentration in Databases and Networks the following courses are required:

CS 540 Fundamentals of Quantitative Software Engineering
CS 561 Database Management Systems I
CS 573 Fundamentals of Cybersecurity
Plus two courses from the following list:
FE 680 Advanced Derivatives
CS 666 Information Networks I
CS 668 Fundamentals of Cryptography
CS 694 E-Business Security and Information Assurance
MIS 620 Analysis and Development of Information Systems
MIS 630 Data and Knowledge Management
MGT 710 Risk Management Methods and Applications
MGT 770 Economics of Networks 

For the FE Technology Track with a concentration in Information and Modeling the following courses are required:

SYS 611 Modeling and Simulation
SYS 660 Decision and Risk Analysis
SYS 670 Forecasting and Demand Modeling Systems
Plus two courses from the following list:
FE 680 Advanced Derivatives
SYS 681 Dynamic Modeling of Systems and Enterprises
MIS 620 Analysis and Development of Information Systems
MGT 630 Data and Knowledge Management
MGT 710 Risk Management Methods and Applications