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MSc Financial Engineering

Course Description

Financial engineering is a multidisciplinary field involving finance, engineering type problem solving skills, mathematical tools, programming skills and communications skills. Financial engineering is a relatively young field that is growing by leaps and bounds each year.

The aim of the Financial Engineering program at Reykjavik University is to produce high-calibre practitioners and researchers who will be able to apply engineering problem solving skills and quantitative methods with common sense so as to develop profitable new financial solutions that can potentially change the way consumers and corporations think about taking and managing financial market risks. As a part of the program the students have the option of acquiring hands-on experience working on practical problems in finance as part of the curriculum.

The MSc program in Financial Engineering is a full-time two year program divided into 4 semesters.

During the first three semesters all students take 9 core courses that include applied probability, statistics and data mining techniques, quantitative methods for investment decisions, stochastic processes, financial derivatives, optimization methods, risk management and a seminar series where actual problems are presented, analyzed and solved in collaboration with professionals. A normal workload during the first three semesters is three MSc level courses and either research work or an extra elective course for enhancing the understanding of the research topic.

During the fourth semester, the students complete the research project and write a thesis. Students are encouraged to take a semester abroad during the second year.

Entry Requirements

Undergraduate degree in engineering, mathematics or physicsBasic knowledge on stocks, fixed income instruments, and derivativesAble to program in Matlab, C++ or other programming languagesUndergraduate courses on Calculus, Linear Algebra, Probability and Statistics

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