Master of Science in Finance

The MS in Finance (MSF) provides a unique opportunity for individuals who want to enhance their career opportunities in the areas of investment management, corporate finance, or investment banking. Students may begin the program in September or January. The program consists of 10 three-credit courses (seven required and three electives). The MSF program is especially useful for those who want to pursue advanced certification, such as the CFA. MSF students may elect to pursue a specialization in either business analytics, corporate finance or (assuming a related undergraduate degree) accounting. Applicants should hold an undergraduate degree and have an adequate background in the areas of economics, financial accounting, and statistics. The GMAT/GRE requirement may be waived for MSF applicants. Please see our website for more information about requesting a GMAT/GRE waiver.

Curriculum

FNCE 6530Corporate Finance3
FNCE 6540Investment Analysis3
FNCE 6545Portfolio Management3
FNCE 6560Global Financial Markets and Institutions3
FNCE 6565Derivative Securities3
FNCE 6580Financial Risk Management3
FNCE 6595Research Methods in Finance 13
Select a specialization (detailed below) or three elective courses from the following: 29
Stakeholder Value
International Financial Management
Fixed Income Securities
Capital Budgeting
Contemporary Topics Seminar
Independent Research Seminar
Total Credits30

Accounting Specialization

To be eligible to pursue an accounting specialization within the MSF, students must have an undergraduate degree (BS or BA) with a major in accounting or the equivalent.

To complete a specialization in Accounting, students take any three graduate Accounting or Taxation courses at the 6000 level for their required three electives. All course selections should be made in consultation with the Directors of Graduate Finance and Accounting, or designee(s). 

Business Analytics Specialization

Business Analytics refers to the skills, technologies, applications and practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning by using data and statistical methods. A variety of industries are in need of professionals who can take on positions of responsibility for collecting, analyzing and interpreting data in order to make sound strategic business decisions. To complete a specialization in business analytics, students take three business analytics classes as a replacement for the three finance electives.

Select three 6000-level courses in Business Analytics 19
Total Credits9

Corporate Finance Specialization

For those students would like to broaden and deepen skills in corporate development/strategic planning and/or risk management, the program offers a specialization in Corporate Finance. For the specialization in corporate finance, students complete the following:

FNCE 6500Stakeholder Value3
Select two of the following:6
Business Forecasting and Predictive Analytics
International Financial Management
Capital Budgeting
Total Credits9

MBA and MS in Finance Overlap

The MBA with a concentration in Finance (MBA-FI) is a generalist degree that covers all relevant topical areas for a business professional and gives students the opportunity to concentrate, but not major in, Finance. Immediately after completion of the MBA-FI, students sometimes wish to further their graduate study in Finance. Interested students then may apply for admission to the MS in Finance and, once accepted, can earn the degree by completing an additional 6 courses drawn from the MS in Finance Curriculum. Courses are selected in advisement with the Coordinator of Graduate Finance Programs. Students are encouraged to seek individualized advisement well before completing the MBA-FI.

FNCE 5400 Principles of Finance    3 Credits

Prerequisites: ACCT 5400, DATA 5400.

This course examines the fundamental principles of modern finance that are helpful in understanding corporate finance, investments, and financial markets. More specifically, the course examines the time value of money; the functioning of capital markets; valuation of stocks, bonds, and corporate investments; risk measurement; and risk management. Students learn to use sources of financial data and spreadsheets to solve financial problems. Previously FI 0400.

FNCE 6500 Stakeholder Value    3 Credits

Prerequisite: FNCE 5400.

This course examines business decision-making with the aim of creating and managing value for stakeholders. Accordingly, students learn how to lead and manage a business in a competitive environment. This involves the formulation of corporate objectives and strategies, operational planning, and integration of various business functions leading to greater stakeholder value. Topics include investment and strategic financial decision-making. A business simulation facilitates the learning process. Previously FI 0500.

FNCE 6530 Corporate Finance    3 Credits

Prerequisite: FNCE 5400.

This course provides an exploration of theoretical and empirical literature on corporate financial policies and strategies. More specifically, the course deals with corporate investment decisions, capital budgeting under uncertainty, capital structure and the cost of capital, dividends and stock repurchases, mergers and acquisitions, equity carve-outs, spin-offs, and risk management. Previously FI 0530.

FNCE 6540 Investment Analysis    3 Credits

Prerequisite: FNCE 5400.

This course examines the determinants of valuation for bonds, stocks, options, and futures, stressing the function of efficient capital markets in developing the risk-return trade-offs essential to the valuation process. Previously FI 0540.

FNCE 6545 Portfolio Management    3 Credits

Prerequisite: FNCE 6540.

Students examine how individuals and firms allocate and finance their resources between risky and risk-free assets to maximize utility. Students use an overall model that provides the sense that the portfolio process is dynamic as well as adaptive. Topics include portfolio planning, investment analysis, and portfolio selection, evaluation, and revision. Previously FI 0545.

FNCE 6555 International Financial Management    3 Credits

Prerequisite: FNCE 6530.

The globalization of international financial markets presents international investors and multinational corporations with new challenges regarding opportunities and risks. This course examines the international financial environment of investments and corporate finance, evaluating the alternatives available to market participants in terms of risk and benefits. Topics include exchange rate determination, exchange rate exposure, basic financial equilibrium relationships, risk management including the use of currency options and futures, international capital budgeting and cost of capital, and short-term and international trade financing. Previously FI 0555.

FNCE 6560 Global Financial Markets and Institutions    3 Credits

This course examines financial markets in the context of their function in the economic system. The material deals with the complexity of the financial markets and the variety of financial institutions that have developed, stressing the dynamic nature of the financial world, which is continually evolving. Previously FI 0560.

FNCE 6565 Derivative Securities    3 Credits

Prerequisite: FNCE 6540 (concurrency allowed).

This course offers in-depth coverage of financial derivative securities, such as options futures and swaps. The course focuses on the principles that govern the pricing of these securities as well as their uses in hedging, speculation, and arbitrage activities. Previously FI 0565.

FNCE 6570 Fixed Income Securities    3 Credits

Prerequisite: FNCE 6540.

This course deals extensively with the analysis and management of fixed income securities, which constitute almost two-thirds of the market value of all outstanding securities. The course provides an analysis of treasury and agency securities, corporate bonds, international bonds, mortgage-backed securities, and related derivatives. More specifically, this course provides an in-depth analysis of fixed income investment characteristics, modern valuation, and portfolio strategies. Previously FI 0570.

FNCE 6575 Capital Budgeting    3 Credits

Prerequisite: FNCE 6530.

This course examines the decision methods employed in long-term asset investment and capital budgeting policy. The course includes a study of quantitative methods used in the capital budgeting process: simulation, mixed integer programming, and goal programming. Students use these techniques and supporting computer software to address questions raised in case studies. Previously FI 0575.

FNCE 6580 Financial Risk Management    3 Credits

Prerequisite: FNCE 6540.

This course focuses on the evaluation and management of corporate and portfolio risk. More specifically, this course examines the methods of evaluating and managing risk with the objective of contributing to value maximization. Risk assessment methodologies such as value-at-risk (VaR) and cash-flow-at-risk (CaR) are analyzed and used extensively. Previously FI 0580.

FNCE 6595 Research Methods in Finance    3 Credits

Prerequisite: FNCE 6540.

This course, open to MS in Finance students only, deals extensively with applied research methods in finance, a highly empirical discipline with practical relevance in the models and theories used. The central role of risk distinguishes research methodology in finance from the methodology used in other social sciences, necessitating the creation of new methods of investigation that are adopted by the finance industry at an astonishingly fast rate. For example, methods of assessing stationarity and long-run equilibrium, as well as methods measuring uncertainty, found a home in the finance area. This course covers traditional and new research methods that are directly, and in most instances, solely applicable to finance problems. Previously FI 0595.

FNCE 6900 Contemporary Topics Seminar    3 Credits

Prerequisites: FNCE 6530, FNCE 6540.

This course presents recent practitioner and academic literature in various areas of finance, including guest speakers where appropriate. Topics vary each semester to fit the interests of the seminar participants. Previously FI 0585.

FNCE 6990 Independent Research Seminar    3 Credits

Prerequisite: FNCE 6595.

This course, open to MS in Finance students only, provides participants with the opportunity to explore a financial topic of interest in depth, immersing students in detailed investigations requiring substantial research and analysis. Previously FI 0597.

The Dolan Career Development Center provides professional development services that enrich graduate students’ academic experiences and inspire tomorrow’s business leaders. For more information, reference the Career Development section of this catalog.