What is Masters of financial engineering Represents the emerging discipline where in mathematical tools are used to model financial markets and solve problems in finance.
Financial engineering in different universities have different names: Financial Engineering, Financial Mathematics, Mathematical Finance, Computational Finance, however, whether it is called financial engineering, financial mathematics, financial mathematics or computational finance, their substance is the same – it represents the emerging discipline where in mathematical tools are used to model financial markets and solve problems in finance, namely the establishment of mathematical tools to model financial markets and resolve the financial problems of the emerging discipline.
In recent years, financial innovation after another, from traditional stock and bond leading to the development of increasingly complex financial markets into the futures, options, and a series of new investment vehicles, which is commonly referred to as financial derivatives. And how these financial derivatives pricing are set , investment banks are facing a problem. At the same time, due to the complexity of financial instruments, some fund management companies feel more and more difficult to maintain the traditional investment fund’s high growth rate, as they need to design a more diversified portfolio to be profitable. Therefore, those who know they need a large number of financial markets have the ability to apply complex mathematical talent, and this talent is extremely scarce in the market. Financial engineering is to develop such a talent and produce. Financial engineering is a combination of finance, mathematics and computer science, interdisciplinary, and its courses are usually by the University’s Business School and Department of Mathematics and Engineering, The course focuses on the financial sector so far more than the depth of the financial aspects of the MBA program, usually including stock market analysis, portfolio analysis, futures and options, asset pricing, capital budgeting, fixed income analysis, interest rate models, financial risk management courses.
Master of Financial Engineering full-time study time is generally one year, All of its courses are around the finance application and start with very practical features, the most suitable for those who aspire to the young people engaged in financial work.
MFE and MBA different?
MBA is a business education, while the MFE is specializing in training senior financial personnel of special education. Master of Financial Engineering courses all focus on the financial sector. If student is interested in accounting, marketing or human resources management, then one should be learning MBA program, because the MBA program is more widely and cover all the areas.
MFE and MBA are very different. In addition to the curriculum, for the MBA application one does not require specific courses to be taught in the undergraduate degree , however, the Master of Financial Engineering applications require the applicant must have done the the two undergraduate course – calculus and statistics. Therefore MFE is not suitable for those people in liberal arts university. Finally, MFE study is one year, and MBA courses are usually required coverage for two years.
Now, there are already many U.S. universities are offering courses in financial engineering, such as the University of California at Berkeley, Princeton University, Stanford University, University of Chicago, Columbia University, Cornell University, the University of Michigan, Ann Arbor, Carnegie Mellon University, New York University, University of Southern California, and so on. Besides the U.S., with Britain’s- Oxford University and the University of Edinburgh, University of Toronto in Canada and York University, and so on.
To know more about financial engineers visit the website “International Association of Financial Engineers”
