Talk:Master of Quantitative Finance
I intend to redirect the following pages -
- to Master of Quantitative Finance (since its title is most generic) and to rewrite as below:
Please post any comments.
A masters degree in quantitative finance concerns the application of mathematical methods to the solution of problems in finance ; There are several "like-titled degrees" which may further focus on financial engineering, computational finance and /or mathematical finance.
In general, these degrees aim to produce quantitative analysts ("quants"), specialized in the analysis and pricing of financial instruments – with a particular emphasis on derivatives and fixed income – and the hedging and management of the resultant financial and credit risk.
The quantitative component of the degree draws on applied mathematics, computer science and statistics - and emphasizes stochastic calculus, numerical methods and simulation techniques . The required underlying theory entails the study of financial economics in particular, and may include general exposure to economics, accounting and corporate finance . Other topics covered include econometrics, financial modeling, portfolio management, risk analysis, asset pricing, and financial markets.
The title of the degree will depend on emphasis , the major differences between programs being the curriculum’s distribution between mathematical, statistical and computational techniques, and financial theory and its applications . The more theoretically oriented degrees are usually termed “Masters in Mathematical Finance” or “Masters in Financial Mathematics” while those oriented toward practice are termed “Masters in Financial Engineering” or “Masters in Computational Finance”; “Masters in Quantitative Finance” is the more general degree title.
The program is usually one year in duration, and may additionally include a thesis component. Entrance requirements are generally multivariable calculus, linear algebra, differential equations and some exposure to computer programming (usually C++) ; programs emphasizing financial mathematics may require some background in Measure theory.
The program differs from that of a Master of Science in Finance (MSF) in that the MSF aims to produce finance generalists as opposed to "quants", and therefore focuses on corporate finance, accounting, equity valuation and portfolio management; the treatment of any common topics - usually financial modeling and risk management - will be less (or even non) technical.
- Guide To Studying The Field, International Association of Financial Engineers
- Annual Special Report: Graduate Education Programs in Financial Engineering, Mathematical Finance, Computational/Quantitative Finance and Risk Modeling/Management, Financial Engineering News
- What Quants Don't Learn at College, Emanuel Derman