Financial engineering courses are offered at the master’s level for those interested in finance careers. Prerequisites include a bachelor’s degree in a math-related field. Courses cover derivatives, financial management, and financial mathematics. Specialized courses cover advanced derivatives, fixed income markets, time series analysis, and legal issues. Students must complete an internship or project and a master’s project to demonstrate mastery of financial tools and models.
Financial engineering courses are typically offered as part of a master’s program for students interested in a career in finance. The prerequisite for joining a program is usually a bachelor’s degree in a discipline involving high-level mathematics, such as physics, computer science, economics or engineering. Financial engineering programs at the master’s level are usually one year long, and successful candidates can usually pursue a doctoral degree upon completion. A financial engineer might pursue a career in stock trading, derivatives analysis or financial risk management. They can also work as quantitative analysts in financial firms.
The topics of derivatives, financial management and high-level financial mathematical theories are typically covered in financial engineering courses. The derivatives course usually involves the study of pricing and hedging derivatives, foreign currencies, commodities and interest rate derivatives. Financial management courses generally teach the student about decision-making processes in companies, liquidity and volatility issues, and dividends. Financial mathematics courses often include statistics and probability, financial theorems, stochastic differential equations, and the replication of trading strategies. Calculus, probability, and computer programming in a high-level language are often prerequisites for classes in financial engineering, in addition to economics and accounting.
Financial engineering courses often become more specialized in the second half of a master’s program. Classes may include advanced derivatives, fixed income markets, time series analysis, and legal issues in the field of financial engineering. The study of fixed income markets may include bond pricing, credit risk and different valuation methods. Time series analysis is the study of various economic models to make market predictions. The study of legal aspects in financial engineering is often important, due to changes in regulations and compliance issues in derivatives, risk supervision and disclosure laws.
In order to complete financial engineering courses towards a master’s degree, students are usually required to complete a work study, internship or on-site project. These are typically several weeks long and can be completed as part of a group or individually by the student. The focus of the internship or project is usually the application of mathematical concepts in the financial field, and students are usually placed in leading financial companies for these projects. The final coursework for students is usually a master’s project related to financial engineering. Often, the student will be required to demonstrate their mastery of the financial tools and models they have studied during the course of the master’s program.
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