New York University - Master of Financial Engineering

Masters Degree
Published

February 8, 2024

https://engineering.nyu.edu/academics/departments/finance-and-risk-engineering

Key takeaways

  • 4 semesters program for Master
  • tuition fee $77,000
  • interesting concentrations
  • Campus in NYC

Program

Students enrolled full-time will complete the program in 4 semesters (May) although some may accelerate the course load and graduate within 3 semesters.

Deadline: December

Fees

About $77,000 in total

Prerequisites/Requirements

To be considered for admission into the MS in Financial Engineering program, students must have a Bachelor’s Degree from an accredited institution and proven proficiency in:

  • Linear Algebra
  • Probability Theory
  • Multivariable Calculus (Advanced)
  • Applied Statistics
  • Computer Programming

Admission requirements

  • Official Transcripts
  • Resume
  • Statement of Purpose
  • 1-minute video
  • 2 Letters of Recommendation
  • English Language Proficiency Testing, where applicable
  • Online application
  • $90 application fee

**Beginning in 2023, the GRE is optional and not required to be admitted to the NYU Tandon School of Engineering.*

Curriculum

To earn a Master of Science in Financial Engineering, students must complete 33 credits to qualify for graduation. The structure of the program is as follows:

  • Bootcamp of 0 credits
  • 5 core courses, each 3 credits
  • Focus area and general elective courses within FRE and closely related fields personalized by the student, totaling 13.5 credits
  • 1 required applied lab worth 1.5 credits
  • 1 capstone experience of 3 credits
  • Capstone assessment of 0 credits
  • Bloomberg certification of 0 credits
  • Total # of credits: 33

The program allows students to select courses from the following focus areas:

  • Corporate Finance and Financial Markets
  • Computational Finance
  • Technology and Algorithmic Finance
  • Risk Finance

There are also two options to participate in a Vertically Integrated Project (VIP) (0 credits).

Core courses

Required Courses:

  • Introduction to Derivative Securities FRE-GY 6073
  • Quantitative Methods in Finance FRE-GY 6083
  • Valuation for Financial Engineering FRE-GY 6103

Two of the following three courses:

  • Financial Economics FRE-GY 6023
  • Financial Risk Management FRE-GY 6123
  • Machine Learning in Financial Engineering FRE-GY 7773

**APPLIED LAB (1.5 CREDITS*)**

Choose 1 lab from the following:

Financial Software Laboratory FRE-GY 6811

Financial Econometric Laboratory FRE-GY 6821

Computational Finance Laboratory FRE-GY 6831

Financial Software Engineering Laboratory FRE-GY 6861

R in Finance FRE-GY 6871

Financial Computing FRE-GY 6883

  • For FRE-GY6883, 1.5 credits count as lab and 1.5 credits as elective.

Advanced Topics in Financial Technology FRE-GY 6191

CAPSTONE (3 CREDITS)

Choose 1 capstone option:

I. INTERNSHIP

  • Financial Engineering Capstone: Internship FRE-GY 7021
  • Minimum 240 hours per semester; FRE-GY7021 must be taken twice in order to fulfill the capstone requirement; 1 report to the faculty is required

II. PROJECT

  • Financial Engineering Capstone: Project FRE-GY 7043
  • Project under faculty supervision

III. THESIS

  • MS Thesis in Finance & Risk Engineering FRE-GY 9973

IV. SPECIAL TOPICS

  • 3.00 credits (two courses of 1.5 credit each or a single 3.00 credit course) of courses marked “topics” or “special topics” in the FRE section of the school course catalog, with a capstone paper submitted to the capstone advisor.

Corporate finance and financial markets

Highly Recommended Course:

  • Corporate Valuation: From Startups to Giants FRE-GY6273, 3 Credits

Consider the following courses to build an area of personal strength in Financial Markets and Corporate Finance.

  • Money, Banking and Financial Markets FRE-GY6031, 1.5 Credits
  • Extreme Risk Analytics FRE-GY6041, 1.5 Credits
  • Financial Econometrics FRE-GY6091, 1.5 Credits
  • Investment Banking and Brokerage FRE-GY6111, 1.5 Credits
  • Financial Market Regulation FRE-GY621, 1.5 Credits
  • Applied Derivative Contracts FRE-GY6291, 1.5 Credits
  • Econometrics and Time Series Analysis FRE-GY6351, 1.5 Credits
  • Corporate and Financial Strategy FRE-GY6361, 1.5 Credits
  • Contract Economics FRE-GY6371, 1.5 Credits
  • Mergers & Acquisitions FRE-GY6391, 1.5 Credits
  • Fixed Income Securities and Interest Rate Derivatives FRE-GY6411, 1.5 Credits
  • Behavioral Finance FRE-GY6451, 1.5 Credits
  • Credit Risk & Financial Risk Management FRE-GY6491, 1.5 Credits
  • Asset-backed Securities and Securitization FRE-GY6571, 1.5 Credits
  • Global Finance FRE-GY6671, 1.5 Credits
  • Quantitative Portfolio Management FRE-GY6711, 1.5 Credits
  • Selected Topics in Financial Engineering FRE-GY6951, 1.5 Credits
  • Algorithmic Portfolio Management FRE-GY7241, 1.5 Credits
  • Topics in Finance and Financial Markets I FRE-GY7801, 1.5 Credits
  • Topics in Risk Finance I FRE-GY7821, 1.5 Credits
  • Topics in Financial and Risk Engineering I FRE-GY7831, 1.5 Credits
  • Topics in Financial and Risk Engineering 2 FRE-GY7851, 1.5 Credits

Recommended Lab:

  • Financial Econometric Laboratory FRE-GY6821, 1.5 Credits

Computational finance

Highly Recommended Course:

  • Options Pricing & Stochastic Calculus FRE-GY6233, 3 Credits

Consider the following courses to build an area of personal strength in Computational Finance.

  • Extreme Risk Analytics FRE-GY6041, 1.5 Credits
  • Numerical & Simulation Techniques in Finance FRE-GY6251, 1.5 Credits
  • Dynamic Assets and Options Pricing FRE-GY6311, 1.5 Credits
  • Financial Risk Management and Optimization FRE-GY6331, 1.5 Credits
  • Econometrics and Time Series Analysis FRE-GY6351, 1.5 Credits
  • Credit Risk & Financial Risk Management FRE-GY6491, 1.5 Credits
  • Quantitative Portfolio Management FRE-GY6711, 1.5 Credits
  • Selected Topics in Financial Engineering FRE-GY6961, 1.5 Credits
  • Special Topics in Financial Engineering FRE-GY6971, 1.5 Credits
  • Statistical Arbitrage FRE-GY7121, 1.5 Credits
  • Topics in Risk Finance I FRE-GY7821, 1.5 Credits
  • Topics in Financial and Risk Engineering I FRE-GY7831, 1.5 Credits
  • Topics in Financial and Risk Engineering 2 FRE-GY7851, 1.5 Credits

**Recommended Labs (1.5 credits*):**

  • Computational Finance Laboratory FRE-GY6831, 1.5 Credits
  • Financial Computing FRE-GY6883, 3 Credits

Technology and algorithmic finance

Highly Recommended Course:

  • Foundations of Financial Technology FRE-GY6153, 3 Credits

Consider the following courses to build an area of personal strength in Technology and Algorithmic Finance.

  • Extreme Risk Analytics FRE-GY6041, 1.5 Credits
  • Clearing and Settlement and Operational Risk FRE-GY6131, 1.5 Credits
  • Numerical & Simulation Techniques in Finance FRE-GY6251, 1.5 Credits
  • Behavioral Finance FRE-GY6451, 1.5 Credits
  • Derivatives Algorithms FRE-GY6511, 1.5 Credits
  • Financial Computing FRE-GY6883, 1.5 Credits
  • Statistical Arbitrage FRE-GY7121, 1.5 Credits
  • Forensic Financial Technology and Regulatory Systems FRE-GY7211, 1.5 Credits
  • Big Data in Finance FRE-GY7221, 1.5 Credits
  • Algorithmic Portfolio Management FRE-GY7241, 1.5 Credits
  • Algorithmic Trading & High-frequency Finance FRE-GY7251, 1.5 Credits
  • News Analytics & Strategies FRE-GY7261, 1.5 Credits
  • Topics in Finance and Financial Markets I FRE-GY7801, 1.5 Credits
  • Topics in Risk Finance I FRE-GY7821, 1.5 Credits
  • Topics in Financial and Risk Engineering I FRE-GY7831, 1.5 Credits
  • Topics in Financial and Risk Engineering 2 FRE-GY7851, 1.5 Credits

**Recommended Labs (1.5 credits*):**

  • R in Finance FRE-GY6871, 1.5 Credits
  • Financial Computing FRE-GY6883, 3 Credits

Risk

Consider the following courses to build an area of personal strength in Technology and Algorithmic Finance.

  • Extreme Risk Analytics FRE-GY6041, 1.5 Credits
  • Insurance Finance and Actuarial Science FRE-GY6051, 1.5 Credits
  • Financial Econometrics FRE-GY6091, 1.5 Credits
  • Clearing and Settlement and Operational Risk FRE-GY6131, 1.5 Credits
  • Static and Dynamic Hedging FRE-GY6141, 1.5 Credits
  • Financial Market Regulation FRE-GY6211, 1.5 Credits
  • Actuarial Models FRE-GY6223, 3 Credits
  • Applied Derivative Contracts FRE-GY6291, 1.5 Credits
  • Financial Risk Management and Optimization FRE-GY6331, 1.5 Credits
  • Econometrics and Time Series Analysis FRE-GY6351, 1.5 Credits
  • Fixed Income Securities and Interest Rate Derivatives FRE-GY6411, 1.5 Credits
  • Credit Risk & Financial Risk Management FRE-GY6491, 1.5 Credits
  • Market Risk Management and Regulation FRE-GY6731, 1.5 Credits
  • Sp Tpc in Applied Credit Derivatives & Securitization FRE-GY6941, 1.5 Credits
  • Special Topics in Financial Engineering FRE-GY6971, 1.5 Credits
  • Topics in Risk Finance I FRE-GY7821, 1.5 Credits

Various special topics courses, as offered, including:

  • Extreme Risk & Fractional Finance
  • Financial Cyber Risks Management
  • Topics in Real Time Trading & Risk Management
  • Topics in Financial Risk Management
  • Topics in Advanced Credit Risk and Derivatives
  • Topics in Actuarial and Insurance Finance
  • Topics in Financial Analytics and Big Data
  • Topics in Financial Regulation and Compliance
  • Financial Risk Management and Incomplete Markets
  • Financial Risk Measurement

**Recommended Labs (1.5 credits*):**

  • Students must choose one lab from the following:
  • Financial Software Laboratory FRE-GY6811, 1.5 Credits
  • Financial Econometric Laboratory FRE-GY6821, 1.5 Credits
  • Computational Finance Laboratory FRE-GY6831, 1.5 Credits
  • Financial Software Engineering LaboratoryFRE-GY6861, 1.5 Credits
  • R in Finance FRE-GY6871, 1.5 Credits
  • Financial Computing FRE-GY6883, 3 Credits
    • Please note: for FRE-GY 6883, 1.5 credits count as lab and 1.5 credits as elective.

https://engineering.nyu.edu/academics/departments/finance-and-risk-engineering/fre-course-listings

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