Master of Computational Finance

Master of Computational FinanceThe Master of Computational Finance Degree trains students in using business theories, math and computer expertise to deal with economic problems or situations. Students are immersed in the study of financial models and taught to create software that will work with these models. This is a relatively new area of study, and one that is more specific than the traditional Master of Finance degree. The first Master of Computational Finance degree was created 20 years ago to fill a void felt in the business and educational communities.

Details About the Master of Computational Finance Degree

Entrance requirements for the Master of Computational Finance degree are as varied as the programs. Some schools prefer students with previous work experience. Many universities require undergraduate degrees in economics, engineering, math or computer science.

Degree Programs in Computational Finance

Tepper School of Business
Rutgers University
Georgia Tech
University of Washington

Masters of Computational Finance candidates are interested in working as derivative specialists, portfolio analysts, hedge fund managers, financial analysts, management risk experts, fixed income specialists or experts in financial instruments. Some may choose to focus on software development while others will work only in the public sector.

Coursework usually includes economics, business models and theories, multivariable calculus, linear algebra, statistics and probability or differential equations. Candidates are expected to enter the program with knowledge of computer programming. Students interested in the Master of Computational Finance program should carefully study entrance prerequisites during their undergraduate years.

College Options, Course Details, and Possible Careers for the Master of Computational Finance Degree

Coursework for a Master of Computational Finance degree varies by school. Most programs will build on their students’ current knowledge. Advanced courses in areas such as numerical and computation methods, statistical analysis, financial analysis and probability are usually required. Students will also explore computer science, statistics and simulation techniques, accounting portfolio management and corporate finance. Most accredited programs will use simulations extensively to stress how coursework applies to real world business situations.

Carnegie Mellon’s Masters of Science in Computational Finance program is considered one of the best business degrees in the country. This Pittsburgh university actually created the degree by combining math business classes with computer science courses. Along with full time and part time study on campus, Carnegie Mellon offers an online Masters in Computational Finance degree.

Chicago’s DePaul University also offers a Master in Computational Finance Degree Program. DePaul is consistently ranked by U.S. News and World Report as one of the best business schools in the country. Interested students may also want to check out highly regarded business programs at the University of California Berkley, New York University, Columbia, Cornell and the University of Chicago. Tuition rates and cost of living expenses will vary depending upon where a student chooses to attend school. Most programs are completed in one to two years.

One unique aspect of this degree is that the coursework is spread throughout a university’s colleges. Students may find themselves studying in the schools of business, computer science and mathematics. This offers experiences in diversity and strengthens networking opportunities. The Master of Computational Finance degree offers excellent employment opportunities in a field that is experiencing rapid growth.