American postgraduate study: MFE
Financial engineering has different names in different universities: financial engineering, financial mathematics, mathematical finance and computational finance. However, whether it is called financial engineering, financial mathematics, mathematical finance or computational finance, their essence is the same-it represents a new discipline in which mathematical tools are used to model financial markets and solve financial problems, that is, to use mathematical tools to build financial market models and solve financial problems.
Financial engineering is an interdisciplinary subject which combines finance, mathematics and computer science. Its courses are usually taught jointly by the business school, mathematics department and engineering college of the university. Because its courses are concentrated in the financial field, the depth far exceeds that of MBA financial courses, and usually include stock market analysis, portfolio analysis, futures and options, asset pricing, capital budgeting, fixed income analysis, interest rate model, financial risk management and other courses. The study time of the Master of Financial Engineering is generally 1 year. Like MBA, it is a professional education rather than an academic research education, so there is no need to write a master's thesis. All its courses are centered on the application of finance, which is very practical and most suitable for young people who are determined to engage in financial work. In the United States, talents with master's degrees in financial engineering are hot in the market, and they are basically employed by major investment banks, fund management companies, insurance companies and venture capital companies.
Many American universities offer courses in financial engineering, such as Berkeley, Princeton, Stanford, Chicago, Columbia, Cornell, ann arbor, Carnegie Mellon, new york and Southern California. In addition to the United States, there are Oxford University and Edinburgh University in Britain, Toronto University and York University in Canada, and so on.
MFE is different from MBA, which is an all-round business education, and MFE is a special education to train senior financial talents. The courses of the Master of Financial Engineering are all concentrated in the financial field. If you are interested in accounting, marketing or human resource management, you should take MBA courses, because the scope of MBA courses is wider. In addition, applying for a master's degree in financial engineering does not require work experience, which is very different from MBA. However, applying for a master's degree in financial engineering requires that the applicant must have taken two courses-calculus and statistics, so it is not suitable for people who study liberal arts in universities. Finally, the study of MFE is one year, while the MBA usually takes two years because of the wide coverage of the course.
American graduate students studying in MSF.
This kind of project is mainly to train financial professionals. MSF's professional direction includes financial analysis, investment management and corporate finance. MSF courses also include branches and interdisciplinary subjects of economics and management, such as financial economics and financial risk management. Therefore, undergraduates in finance, economics or general business can apply, but the basic requirement is excellent mathematics background.
Compared with finance under MBA, MSF mainly studies the professional field of finance, and rarely involves the general management discipline. MSF attaches importance to the depth and comprehensiveness of finance, while MBA is more diversified, such as human resource management and business management. Therefore, MBA is weak in depth and breadth.
MSF in the United States is mostly one year, combined with CFA exam. CFA means chartered financial analyst. CFA program mainly studies securities management and financial analysis, which is more in-depth than MSF. Some university MSF is arranged according to the content and time of CFA exam, and some university MSF projects are directly defined as financial analysis majors.
Master of Finance (MSF) is the most common master's degree in finance in the United States. Representative universities include Johns Hopkins University, Washington University in St. Louis, University of Rochester, Boston College, Champagne, Illinois, Pennsylvania State, Case Western Reserve, Purdue University and University of Delaware. A few schools, such as the University of Maryland, have a professional name of MFIN (Master of Finance), but the essence is no different from MSF.
Most of MSF's academic system is between one and a half years. Most schools accept GMAT or GRE scores at the same time, and some schools only accept GMAT scores, such as the University of Florida and Syracuse University. At the same time, most schools encourage, but do not require, work experience (students can add points for themselves with high-level holiday internship experience), while a few schools, such as Brandeis University and the University of Connecticut, cannot apply for more than two years of work experience.