Master of Science in Financial Engineering is a 36-credit degree STEM-designated program (equivalent of 12 three-credit courses). The first half of our program is devoted to tools of the trade and their use in modeling financial markets and instruments. The MSFE curriculum includes courses in stochastic processes, optimization, numerical techniques, Monte Carlo simulation, and data analysis. Students make use of these methods in portfolio theory, derivatives valuation, and financial risk analysis.
The second half gives students an opportunity to take more advanced courses or study specialized topics, ranging from models of the term structure of interest rates to a study of the implied volatility smile, as well as a course on applications programming for financial engineering. Students can also choose from a variety of courses on particular markets and their models (eg, mortgage-backed securities or credit-risk modeling).
In addition to courses within the engineering school, students can also take electives from various schools within the university, such as the Graduate School of Business, the Graduate School of Arts and Sciences, the School of Law, and the School of International and Public Affairs.
Note: This program does not lead to NYS professional engineering licensure. For more information, see: http://nysspe.org/