Why choose Illinois MSFE? Risk is everywhere and the financial industry deals with it. Natural disasters happen. Prices collapse. Customers default. Complex financial institutions and markets are designed to handle those risks. But people need to know how to make those institutions and markets work. Regulators need to understand how to guide them successfully. Businesses have to be able to use them to solve their own risk management tasks. All of this takes sophisticated mathematical and computational techniques, combining expertise in finance, economics, and engineering.
We teach the skills needed for quantitative analysis of financial instruments and markets. Our graduates are able to take these tools to corporations, financial institutions, and regulatory bodies, to use these markets to manage risk effectively today – and to develop the techniques and institutions to manage the new risk challenges of tomorrow.
What is Financial Engineering? Financial Engineering is a multi-disciplinary field that pertains to the application of engineering approaches and methods to the analysis and management of financial opportunities and problems, particularly where risk is a concern.
The field has emerged as the result of the ever growing complexity required in describing and solving these business problems whose resolution requires fundamental economic principles and finance theory coupled with state-of-the-art mathematical methods, computational tools, and computer programming expertise.
Bachelor’s degree, or bachelor equivalent, typically in an engineering field, mathematics, physics, computer science, or economic: 1 year of Calculus; 1 semester of Linear Algebra and Differential Equations; 1 semester of Probability and Statistics; 1 semester of Programming (preferably in C/C++); GRE or GMAT; TOEFL or IELTS for all applicants whose native language is not English.Knowledge of basic finance is helpful but not required
Recipient: University of Illinois at Urbana-Champaign
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