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 Graduate Area and Program Information
Financial Engineering
Of interest to students with strong quantitative backgrounds in economics, mathematics, statistics, engineering science or computing, financial engineering is a Schulich specialization established in cooperation with the Faculty of Arts’ Department of Mathematics and supported by the Department of Computer Science. Financial Engineering is a collaborative program as defined by the Faculty of Graduate Studies.
Financial engineering graduates will have the theoretical knowledge and specialized skills necessary to develop new financial instruments and to understand the role of financial instruments within the broader economic and business contexts.
Graduates will find career opportunities in the financial industry with banks, investment firms, brokerage houses and other financial institutions as well as risk management departments of large corporations and consulting firms. Visit our Web site at www.yorku.ca/fineng for detailed course descriptions, eligibility requirements, course schedules and a wealth of information about Financial Engineering.
Financial Engineering
Tel: (416) 736-5690
Fax: (416) 736-5762
E-mail: fineng@schulich.yorku.ca
FACULTY
The faculty have been in the forefront of research into the design, development and implementation of innovative instruments. These include new measures of interest rate risk, correct after-tax valuation of derivative and fixed income instruments, the innovation of financial instruments and new valuation techniques. The applications of the no-arbitrage condition are the basis for financial engineering. Implementation of this condition to security markets has been the topic of research projects at York. New computer software and a specialized textbook for this field have been created specifically for the financial engineering program. Senior faculty members associated with the program are listed below.
Program Director
Eliezer Z. Prisman
Nigel Martin Chair in Finance
Professor of Finance
Andrew Aziz
Sessional Lecturer in Financial Engineering
Melanie Cao
Associate Professor of Finance
Wade D. Cook
Associate Dean, Research
Professor of Operations Management and Information Systems
Gordon Shaw Professor of Management Science | | Mark Kamstra
Associate Professor of Finance
Moshe Milevsky
Associate Professor of Finance
Gordon S. Roberts
CIBC Professor of Financial Services
Professor of Finance
| | Yisong Tian
Associate Professor of Finance
Augustine Wong
Professor of Mathematics and Statistics
Man-wah Wong
Professor of Mathematics |
FINANCIAL ENGINEERING DIPLOMA (STAND ALONE)
The Financial Engineering Diploma (Stand Alone) consists of five master-level courses offered by the Schulich School of Business and the Graduate Program of Mathematics and Statistics. This diploma program will be of particular interest to students with strong quantitative backgrounds in economics, mathematics, statistics, engineering science, or computing looking to accelerate their career in financial management.
For more information, please click here.
GRADUATE DIPLOMA IN FINANCIAL ENGINEERING
REQUIREMENTS
- must be taken concurrently with a Schulich MBA (Students must satisfy both Graduate Diploma requirements and the degree requirements of their home faculty)
- the Graduate Diploma must be completed within one term of completing all MBA program requirements
- 21.0 credit-hours of required courses below,
- an internship in a financial institution, or
- an additional research paper
- enrolment in Financial Engineering courses requires the permission of the Director
REQUIRED COURSES
Note: students working towards the Diploma in Financial Engineering may take a maximum of 9.0 credit-hours outside Schulich.
* With approval from the program director, students with a computer science degree or acceptable experience may replace this course with FNEN 6820 3.00.
GENERAL CONCENTRATION
REQUIREMENTS
- please refer to 'Eligibility' on page 41 of the Graduate Student Handbook
- 12.0 credit-hours of courses consisting of:
~ a minimum of 6.0 credit-hours of required courses
~ up to 6.0 credit-hours of recommended courses
REQUIRED COURSES
RECOMMENDED COURSES
| COSC 5910 3.00 | Software Foundations |
| FNEN 6820 3.00 | Advanced Derivative Securities |
| FNEN 6840 3.00 | Enterprise-wide Financial Risk Management |
| MATH 6910 3.00 | Stochastic Calculus in Finance |
| MATH 6911 3.00 | Numerical Methods in Finance |
| OMIS 6000 3.00 | Models and Applications in Operational Research |
Admission to the Graduate Diploma and/or Financial Engineering courses is with the permission of the Director of Financial Engineering. For information, contact the office in Room 331, Schulich, (416) 736-2100 ext. 55690, fnen@schulich.yorku.ca.
STUDY OPTIONS
- Graduate Diploma in Financial Engineering (taken concurrently with an MBA)
- Financial Engineering Diploma (Stand Alone)
- Concentration
- Post-MBA Diploma in Advanced Management
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