Financial Engineering, M.S. | NYU Tandon School of Engineering (2022)

Sophisticated modeling and information technology now dominate the financial world. The theories and the practice of Finance are challenged today by complex financial and global systems and by dynamically changing regulatory environments and politics. A global world in transition creates both opportunities and challenges for financial engineers to adapt theoretical and financial constructs into profitable and innovative opportunities by creating innovative, custom-designed instruments in the marketplace.

At the NYU School of Engineering, we train our students to do exactly that: to engineer the future of finance and transform financial theory into practice. The MS in Financial Engineering program furnishes students with foundational knowledge in financial concepts. This knowledge then becomes a springboard to specialized fields where students can apply concepts to everything from derivatives risk finance to financial IT and algorithmic trading on Big Data.

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

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

About the Program

Admissions

The Department receives a large number of applications every year. To be considered foradmission into the MS in Financial Engineering program, students must have a Bachelor’sDegree from an accredited institution and proven proficiency in:

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

Applicants must submit official transcripts from each institution attended as well as GRE testscores. Note that the average Quant GRE score of accepted students in Fall 2021 was 167.70/170, the Verbal GRE score was 155.20, the GPA was 3.89, and we accepted 50% women and 50% men.*

When applicable, applicants must also demonstrate English language proficiency to bedetermined by the TOEFL score.

AdmissionRequirements

  • Official Transcripts
  • Resume
  • Statement of Purpose
  • 1-minute video
  • 2 Letters Of Recommendation
  • English Language Proficiency Testing, where applicable
  • GRE
    • GRE is only required for students who have studied for fewer than 4 years as undergraduates in the US.
  • Online application
  • $90 application fee

Learn moreabout Admission Requirements.

The FRE department does not accept change-of-major requests. In all instances, students must formally apply to the program. Applicants must have demonstrated proficiency in the mathematical areas listed to be considered for admission. The Department offers both an online and an on-campus boot camp during the summer before formal coursework starts.For program highlights and a video regarding further details on FRE admissions requirements, visit ourProspective Studentspage.

*Disclaimer:University data currently uses the language of “sex” to describe the gendered makeup of our community. This data does not include information around gender identity that is inclusive of transgender, non-binary, and other gender identities beyond male and female.

Applicant Questions

Contact the Graduate Center for questions about theapplication process, application status or to talk to an admissions counselor:

(Video) NYU Tandon MS in Financial Engineering: The Program

Office of Graduate Enrollment Management and Admissions
NYU Tandon School of Engineering
458 Pike Road
Huntingdon Valley, PA 19006

engineering.gradinfo@nyu.edu
Phone: (646) 997-3182

Accepted and Enrolled Students

Contact the Department of Finance and Risk Engineering with youracademic questions, e.g., courses and curricula.

Department of Finance and Risk Engineering
NYU Tandon School of Engineering
1 MetroTech Center North, 10th floor
Brooklyn, NY 11201
engineering.fre@nyu.edu
Tel: 646.997.3279
Fax: 646.997.3355

Advising

Professor Barry Blecherman
General Advising
barry.blecherman@nyu.edu

Ms. Zahra Patterson
Academic Planner, Degree Progress Report, and Graduation Audits
zahra.patterson@nyu.edu

Professor Agnes Tourin
Capstone Advisement
at1744@nyu.edu

Curriculum

Overview

Students enrolled full-time will complete the program in 4 semesters (May) although some may accelerate the course load and graduate within 3 semesters. Our program also offers flexibility to attend part-time and extend the number of semesters.

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 13.5credits
  • 1 requiredapplied labworth 1.5 credits
  • 1 capstoneexperience of 3 credits
    Read the Capstone Guidelines (PDF)
  • Capstone assessmentof 0 credits
  • Bloomberg certificationof 0 credits
  • Total # of credits: 33

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

  • Active Portfolio Management with Machine Learning and Time Series Forecasting

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

Students must also complete the Bloomberg Market Concepts e-learning course and earn the Acknowledgement of Completion to qualify for graduation. The Department will support your efforts to complete the training program by providing many Bloomberg terminals and laboratory assistants to answer your questions. This is a zero-credit requirement, listed as FRE 5500.

(Video) NYU Tandon MS in Financial Engineering: Overview

Graduate students enrolled in other NYU graduate programs may request enrollment in FRE courses for up to 6 credits per semester with the approval of their graduate program advisor.Undergraduate students are not allowed to take courses in the MS in Financial Engineering program, except for those in a combined BS/MS program. It is the students’ responsibility to consult with their academic advisor if the courses they plan to take satisfy degree requirements in their program, and to obtain approval to enroll in Financial Engineering courses via the FRE cross-registration form available in theCurrent Students page.Please reviewthe NYU cross-school registration policyprior to submitting cross-registration requests.

Courses

CORE COURSES (15 CREDITS)

Required Courses:
3 Credits Introduction to Derivative Securities FRE-GY6073
This course explains in detail various models and methods for pricing and hedging derivatives including: European, American, exotic options, swaps, and convertible bonds. Presentation is done using equity, interest rate, and volatility derivative products. A short introduction to computational methods necessary for pricing derivatives is provided.
Prerequisites: Matriculation into MS Financial Engineering or permission of the department.
3 Credits Quantitative Methods in Finance FRE-GY6083
This course focuses on quantitative methods and financial modeling. Probability theory, stochastic processes and optimization are studied and applied to a broad variety of financial problems and their derivatives. Topics include probability spaces; conditional probability; densities; distributions; density estimators; multivariate probability; moment-generating functions; random walks; Markov processes; Poisson processes; and the Brownian-motion process.
Prerequisite: Students are expected to know calculus and elementary probability and Graduate Standing
3 Credits Valuation for Financial Engineering FRE-GY6103
This course introduces financial engineers to robust risk-based valuation methods in discrete and continuous time. This includes four major applications: cash flows, traded derivative contracts, nontraded and embedded derivatives, and corporate assets & liabilities.
- ?Cash flows? refers to risk-free and risky payments or expenditures.
- ?Traded derivatives? include a high level treatment of forward contracts and the most commonly traded option contracts.
- ?Nontraded and embedded derivatives? refer to contingent cash flows created in the normal processes of contracting and asset management
- ?Corporate assets? refer to claims to cash flows owned and managed by corporations
- ?Corporate liabilities? refers to corporate-issued securities or other payment obligations incurred by corporations.
Prerequisite: Graduate Standing
Two of the following three courses:
3 Credits Financial Economics FRE-GY6023
This course provides a rigorous introduction to the principles and application of the theory of financial economics. Following a review of foundational theories of markets and competition, this course covers the following areas: certainty and perfect capital markets, the institutional setting of financial economics, risk and contingent claims theory, and capital market imperfections and the limits to arbitrage that these impose on financial systems.
Prerequisite: Graduate Standing
3 Credits Financial Risk Management FRE-GY6123
This course introduces the techniques and problems of Financial Risk Management and Asset Pricing. It emphasizes risk finance and attitudes; Value at Risk; risk measurement principles; valuation and expected utility and their relevance in the valuation and the pricing of financial investments; insurance; management of derivatives; and risk management. Throughout, risk-management application problems are explored., The course introduces and focuses on the fundamental principles of the Arrow-Debreu state preference theory used to price derivatives and other assets in complete markets. Risk neutral-Binomial models in option pricing; essential elements of Ito calculus; and the Black-Scholes model for pricing options are introduced and applied to practical financial decision making and risk management problems. Prerequisite: Graduate Standing
3 Credits Machine Learning in Financial Engineering FRE-GY7773
This course covers the theory of Machine Learning and its fundamental applications in the field of Financial Engineering. Supervised, unsupervised, and reinforcement learning paradigms are discussed.
Prerequisites: Matriculation into MS Financial Engineering or permission of the FRE department

FOCUS AREA AND GENERAL ELECTIVES (13.5 CREDITS)

These include the guidance tracks Financial Markets and Corporate Finance, Computational Finance, Technology, and Algorithmic Finance, and Risk Finance (Credit Risk, Financial Management, and Insurance).

Students may choose from any FRE courses to fulfill these focus areas* and general elective requirements. They may also elect to register for up to three (3) classes (maximum of one per semester) at select schools/programs at NYU. Courses outside FRE must be approved by the MS Financial Engineering academic advisor. Students may only enroll for courses at other schools of NYU that are not offered at the School of Engineering. Please review the NYU cross-school registration policy prior to submitting cross-registration requests.

View the complete list of FRE Courses

*Please see the dropdowns below for more details on focus areas.

APPLIED LAB (1.5 CREDITS*)

Choose 1 lab from the following:

1.5 Credits Financial Software Laboratory FRE-GY6811
This course teaches students to use financial software tools commonly employed in industry. Examples include: @Risk, Yieldbook, Excel, R, and C++.
Prerequisites: Graduate Standing
1.5 Credits Financial Econometric Laboratory FRE-GY6821
This course teaches students to use Eviews and Stata.
Prerequisites: Graduate Standing
1.5 Credits Computational Finance Laboratory FRE-GY6831
The course introduces programming applications in financial modelling. Topics include variables, data types, input/output, plotting, selection statements, loop statements, functions, and classes, and implementation for Black-Scholes option pricing partial differential equation, Monte Carlo simulation, numerical methods for solving partial differential equations, and option pricing by Fourier transform.
1.5 Credits Financial Software Engineering Laboratory FRE-GY6861
This financial lab requires students to publicly participate in a large software project. This participation could take the form of contributing to an open-source financial software project with the contributions being accepted and committed to the main branch, or publishing a stand-alone library or package for a programming language commonly used in financial applications, or the development or updating of a brand-new industrial strength financial software application. As the students work on their project, this course will focus on important software engineering considerations specifically as they apply to the fast-paced world of financial projects, such as formalized procedures for revision control and bug tracking and other proven methods of software management in a fast-paced financial environment.
Prerequisite: Graduate Standing
1.5 Credits R in Finance FRE-GY6871
This course introduces the free programming language R and its many applications to finance including risk management, portfolio construction, strategy development and testing, and trading and execution. Topics covered include financial time series analysis, advanced risk tools, applied econometrics, portfolio management, and derivatives valuation. Students will be required to write some code in R every week.
Prerequisites: Matriculation into a graduate program sponsored by the Department of Finance & Risk Engineering, or permission of the Department & FRE-GY 6123 and FRE-GY 6083
3 Credits Financial Computing FRE-GY6883
This course covers programming applications to financial engineering, including C++ and Java and the various common development environments for them. Topics include structured and object-oriented programming in C++ with applications to binomial options pricing, multi-threaded programming in Java with applets and graphical interfaces with applications to risk measurement tools, data-based manipulation and programming in SQL and standard database access libraries with applications to historical financial data series retrieval and management, and other advanced programming concepts important for financial engineering such as numerical techniques, trading systems, and large-scale software design.
Matriculation into a graduate program sponsored by the Department of Finance & Risk Engineering, or permission of the Department.

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

1.5 Credits Advanced Topics in Financial Technology FRE-GY6191
This course complements the Foundations of Financial Technology by treating in-depth advanced topics in this rapidly changing field. Students prepare and present case studies applying the concepts covered in class.
Prerequisites: FRE-GY 6153.

Note: Waivers are possible.

REQUIRED CERTIFICATION (0 CREDITS)

Bloomberg Certification FRE-GY5500
This course tracks the requirement for the self-paced, self-taught Bloomberg certification to be completed through a Bloomberg terminal.
Prerequisite: Graduate Financial Risk Engineering students only

CAPSTONE (3 CREDITS)

Choose 1 capstone option:

I. INTERNSHIP
1.5 Credits Financial Engineering Capstone: Internship FRE-GY7021
In this course, the Career Development Office helps the student secure an internship. Students work under faculty supervision. However, the course is intended to be largely self-directed within the guidelines established by the supervising faculty member. A paper based on the internship work is required.
Prerequisites: This course should be taken after the student has successfully completed two Semesters and earned at least 18 credits. Prerequisites vary depending on the student's track, the nature of the internship and Graduate Standing.

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
3 Credits Financial Engineering Capstone: Project FRE-GY7043
In this project course, students work with faculty on proprietary or non-proprietary research projects. Generally, students work under faculty supervision. However, the course is intended to be largely self-directed within the guidelines established by the supervising faculty member. A significant written research component is required.
Prerequisites: This course should be taken after the student has successfully completed two Semesters and has earned at least 18 credits. Prerequisites vary depending on the student's track, the nature of the project to be undertaken, and Graduate Standing.

Project under faculty supervision

III. THESIS
3 Credits MS Thesis in Finance & Risk Engineering FRE-GY9973
In this research course, students undertake proprietary or non-proprietary research and write a thesis-type research paper. Generally, students work under faculty supervision. However, the course is intended to be largely self-directed within guidelines established by the supervising faculty member.
Prerequisites: Graduate Standing. This course should be taken during the student's final semester. Prerequisites vary depending on the student's track and the nature of the thesis project.
IV. SPECIAL TOPICS

3.00credits (two coursesof 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.

In addition, please see theCapstone Procedures and Requirements (PDF).

CAPSTONE ASSESSMENT (0 CREDITS)

Capstone Assessment FRE-GY5990
The Master of Science in Financial Engineering program offers four types of Capstone experiences to its graduate students: theses, projects, special topics, and internships. This Capstone Assessment will serve as a centralized measure for the various types of Capstone experiences to identify whether students have successfully completed this experience and garner feedback about graduating students' skills and professional readiness. Note: course should be completed during final semester of studies.
Prerequisites: FRE-GY 9973 or FRE-GY 7021 (taken two times for a total of 3 credits) or FRE-GY 7043 or two special topics courses of 1.5 credits each, with a capstone papers submitted to the faculty.

Vertically Integrated Projects (0 CREDITS)

Vertically Integrated Projects VIP-GY5000
The Vertically Integrated Projects (VIP) courses are designed to allow select students to participate in ongoing research, innovation, design, and entrepreneurial projects within student teams, under the direction of faculty from within Tandon, and other schools of NYU. There is a different section for each project; the graduate VIP course and sections align with the undergraduate VIP course sections. Students must apply to engage in a specific project. Decisions on acceptance will be made each semester by the faculty advisors for the project, in consultation with the VIP Program Management. Students are expected to participate for at least three semesters in a VIP course. Graduate students in 5000-level VIP sections will utilize their strong foundations within their disciplines, will pursue needed knowledge and skills, will make meaningful contributions to the team, and will take on significant responsibilities in technical areas and/or team leadership.
Prerequisites: Department & advisor approval required.

Corporate Finance and Financial Markets

Overview

Corporate Finance and Financial Marketsfocuses on how to structure, value, market andapply complex financial products in expanding global financial markets. You will learn to wieldsophisticated trading and risk management strategies and engineer solutions to the host of financialproblems faced by today’s institutions. As a student, you will learn a diverse array ofskills to prepare you for wide-ranging positions in corporate financial analysis, financial planning,financial consulting, asset management, management consulting, private equity value creation andglobal financial advisory and foreign exchange trading.

Graduates of Corporate Finance and Financial Markets are expected to seek positions infinancial management groups, on trading and arbitrage desks, in product structuring groups, inderivatives groups, in investment banking departments and in the information-technology firms thatsupport the trading operations of financial institutions.

Courses

Curriculum Requirements:

  • 5 core courses, each 3 credits totaling 15 credits
  • Focus areaand 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 (0 credits)
  • Bloomberg Certification (0 credits)

Total # of credits: 33

Highly Recommended Course:

  • Advanced Valuation Theory 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 LaboratoryFRE-GY6821,1.5 Credits
(Video) NYU Tandon MS in Financial Engineering: The Experience

Computational Finance

Overview

Computational Finance emphasizes both financial quantitative theory and practice,bridging the two and using both the fundamental concepts of finance and the stochastic andoptimization methods and software in finance. This focus is meant for those individuals with a strongdesire to become quantitative financial managers or to pursue applied finance research interests incutting-edge investment science, trading and in financial risk management. Techniques such asquantitative finance, financial econometrics, stochastic modeling, simulation and optimization arepart of a set of financial tools applied to the many problems of derivatives and options finance,arbitrage trading algorithms, asset pricing, credit risk and credit derivatives, developing newderivative products and the many areas where quant finance has a contribution to make.

Graduates ofComputational Finance will be qualified to work in pricing financial risk andtheir management, in credit risk and their derivatives, in cutting-edge institutions, in quant hedgefunds and in research and advanced product development departments of financial and consultingfirms. Graduates of Risk Finance will have the qualification and abilities to becomeresponsible specialists for positions in finance, credit granting firms, banks and insurancecompanies, as well as obtain the knowledge needed to face the upcoming complex problems arisingby the increased use and centrality of financial insurance products (contributing to the developmentof complex financial products and a convergence) of finance and insurance. The complementaryactuarial profession is a discipline that uses tools from statistics, probability theory and finance toanalyze and solve practical problems in insurance and financial risk management. Actuariesassemble and analyze data to estimate the probability and likely cost of an event such as death,sickness, injury, disability or loss of property. Courses in risk finance provide the background for thefirst four actuarial examinations supervised by the Society of Actuaries and the Casualty ActuarialSociety and cover additional educational experience requirements.

Courses

Curriculum Requirements:

  • 5 core courses, each 3 credits totaling 15 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 (0 credits)
  • Bloomberg Certification (0 credits)

Total # of credits: 33

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 LaboratoryFRE-GY6831, 1.5 Credits
  • Financial ComputingFRE-GY6883, 3 Credits

*FRE-GY 6883 counts both as a lab (1.5 credits) and as an elective (1.5 credits), totaling 3 credits.

Technology and Algorithmic Finance

Overview

Graduates of Technology and Algorithmic Financeare actively involved in thedevelopment and implementation of the entire spectrum of algorithmic trading strategies, softwareapplications, databases and networks used in modern financial services firms. The techniques itapplies bridge computer science and finance to prepare graduate to participate in large-scale andmission-critical projects. Applications include high frequency finance, behavioral finance, agent-based modeling and algorithmic trading and portfolio management.

(Video) NYU Tandon - FRE Admissions

Upon graduation, students of Technology and Algorithmic Finance will havedevelopedsoftware projects ranging from behavioral models to bespoke derivative valuations tofinancialtrading, information management and tools and financial platforms. Students would befamiliarwith the use and role of technology in front, middle, and back offices; commontradingstrategies and how to implement and back-test them; and how to createnew models and build newuseful tools quickly.

Courses

Curriculum Requirements:

  • 5 core courses, each 3 credits totaling 15 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 (0 credits)
  • Bloomberg certification (0 credits)

Total # of credits: 33

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 FinanceFRE-GY6871, 1.5 Credits
  • Financial ComputingFRE-GY6883, 3 Credits

*FRE-GY 6883 counts both as a lab (1.5 credits) and as an elective (1.5 credits), totaling 3 credits.

Risk

Overview

Risk presents a comprehensive approach to managing risk in the context ofglobalized markets, financial compliance, multi-dimensional regulatory environments and industryconvergence across the financial spectrum. This specialization will prepare you for a challengingcareer in risk finance, insurance, credit risk and derivatives or financial risk management.

Challenges faced by practitioners of risk include:

  1. Managing financial, extreme and cyber risks in an era of uncertainty and global marketsinturmoil and out of equilibrium.
  2. Developing financial products that are robust and anti-fragile to value risks and allow thesafetransfer and the securitization of risks to better access financial liquidity and financialriskexchanges. Both, optional financial products such as credit derivatives andfinancialinsurance products are introduced, priced and managed to prevent financial losses andtohedge trading bets.
  3. Corporate Finance Risk Management, embedded in financial risk management of banksandother industrial and financial institutions.
  4. Financial regulation to better comprehend the complexity and complying to multipleregulationagencies as well as global regulation currently at the forefront of financialauthorities.
  5. Financial Analytics to better measure risks, price and managetrading risks in an environmentwhere stealth trading, high frequency trading, uncertainty andmulti-agents finance prevail. Insuch an environment a greater appreciation of out-of-equilibrium (incomplete) finance, statisticaltools, big-data finance and financial technology to track, assess and control become essentialtools to engineer financial risk management.
  6. Market Risk Analytics in banks, investment management firms and hedge funds.
  7. Operational Risk Management to implement the company’s operational risk framework.
  8. Quantitative Model Risk and model validation including the implementationprocess, reviewingmodel standards, assessing risk mitigation policies and monitoring riskevents.

The job opportunities open to graduates in Risk are expanding and may includejobs in Credit Risk, Derivatives and Management in Loan Firms and Banks, Insurance and their useof financial Instruments, Regulation, within Agencies with responsibilities over Financial Institutions

(such as theTreasury-The OCC, The SEC, etc. As well as Compliance Management, in particular intheBanking sector, in Hedge Funds and in numerous Regulated Institutions, Investment and Hedgefunds and Corporate Financial Risk Management.

Courses

Curriculum Requirements:

  • 5 core courses, each 3 credits totaling 15 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 (0 credits)
  • Bloomberg Certification (0 credits)

Total # of credits: 33

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 LaboratoryFRE-GY6811,1.5 Credits
  • Financial Econometric LaboratoryFRE-GY6821,1.5 Credits
  • Computational Finance LaboratoryFRE-GY6831,1.5 Credits
  • Financial Software Engineering LaboratoryFRE-GY6861,1.5 Credits
  • R in FinanceFRE-GY6871,1.5 Credits
  • Financial ComputingFRE-GY6883,3 Credits

*Please note: for FRE-GY 6883, 1.5 credits count as lab and 1.5 credits as elective.

For more videos, please visit our Prospective Students page.

(Video) Financial Engineering Video Essay: NYU Tandon School of Engineering Fall 2022 Application

FAQs

Is it hard to get into Tandon School of Engineering? ›

Admission to the NYU Tandon School of Engineering is very competitive, with the best and brightest students from around the world applying each year.

Is a masters in Financial Engineering worth it? ›

Yes, a masters in financial engineering is worth it for many students. The financial engineering field is relatively new. Getting a MS in Financial Engineering could be a way to position yourself in a specialized niche within the financial services industry and set yourself apart from the crowd.

Is NYU Tandon engineering hard to get into? ›

NYU Tandon School of Engineering has an acceptance rate of 35% making it competitive for applicants while applying for programs.

Is Financial Engineering difficult? ›

No, financial engineering isn't challenging more than any other engineering position. The most critical impact of the job's degree of difficulty is related to company organization and workers' overload. Companies seek engineers in math, statistics, stochastic calculus, and programming at various skill levels.

What is the easiest engineering program to get into? ›

Easiest Engineering Degrees
  • Computer Engineering.
  • Environmental Engineering.
  • Civil Engineering.
  • Mechanical Engineering.
  • Biomedical Engineering.
  • Electrical Engineering.
  • Petroleum Engineering.
  • Aerospace and Aeronautical Engineering.
4 days ago

Which Ivy League is best for engineering? ›

Cornell University is often considered the best Ivy League school for engineering, and it's also the easiest to get into.

Do financial engineers make a lot of money? ›

Financial engineering graduates typically work in the banking and investment sectors, where their job is to turn money into more money. The work is, unsurprisingly, lucrative. Most MSFE holders make around $95,000—and some earn much more.

Is Financial Engineering in demand? ›

There is a high need for qualified quants in the market. The demand for new quants is particularly high in structured finance establishments. Over time, as the market gains higher traction, the demand for quants will increase.

Which university is best for Financial Engineering? ›

Top US Universities for MS in Financial Engineering
  • Claremont Graduate University.
  • Stanford University.
  • University of Michigan Ann Arbor (UMich)
  • Georgia Institute of Technology (GaTech)
  • Purdue University, West Lafayette Indiana.
  • University of California Berkeley (UCB)
  • Cornell University, Ithaca, New York.

Is it harder to get into NYU or Harvard? ›

If you're looking at acceptance rate alone, then Harvard University is more difficult to get into. However, each college is looking to fill its incoming class with a variety of students with different strengths, backgrounds, etc.

What is the lowest GPA accepted to NYU? ›

Most students admitted to NYU have an unweighted GPA of 3.7 or above, so you'll need to have at least a 3.7 to be seriously evaluated. To meet the NYU GPA requirements, you'll have to score primarily A's and A-'s on your high school courses.

Is a 3.6 GPA good for NYU? ›

The average GPA at NYU is 3.69. This makes NYU Strongly Competitive for GPAs. (Most schools use a weighted GPA out of 4.0, though some report an unweighted GPA. With a GPA of 3.69, NYU requires you to be above average in your high school class.

Are financial engineers real engineers? ›

Despite its name, financial engineering does not belong to any of the fields in traditional professional engineering even though many financial engineers have studied engineering beforehand and many universities offering a postgraduate degree in this field require applicants to have a background in engineering as well.

Which is the toughest engineer? ›

Like chemical engineering, biomedical engineering relies a lot on science rather than physics. With a lot of courses in chemistry and biology, biomedical engineering ranks as one of the hardest engineering majors there is. Many engineering majors focus on physics while this one requires much more than that.

Which is the toughest course in finance? ›

Chartered Financial Analyst

The Chartered Financial Analyst degree is one of the toughest to crack but probably one of the most rewarding certifications to have. In fact, in the financial services world, the CFA charter holder is one of the few courses that give an MBA-Finance a serious run for the money.

Which is toughest course in engineering? ›

As per your query, here is the list of top 5 hardest major courses in Engineering:
  • Electrical Engineering.
  • Computer Engineering.
  • Aerospace Engineering.
  • Chemical Engineering.
  • Biomedical Engineering.
30 Jul 2022

Which branch is toughest in engineering? ›

The 5 Hardest Engineering Major
  1. Electrical Engineering. Most people agree that electrical engineering is easily among the hardest majors. ...
  2. Computer Engineering. ...
  3. Aerospace Engineering. ...
  4. Chemical Engineering. ...
  5. Biomedical Engineering.
21 Mar 2022

Which engineering has highest salary? ›

10 Highest Paying Engineering Jobs
  • Civil Engineer. ...
  • Mechanical Engineer. ...
  • Industrial Engineer. ...
  • Biomedical Engineer. ...
  • Electrical Engineer. ...
  • Chemical Engineer. ...
  • Software Engineer. ...
  • Computer Engineer.
21 Jun 2022

What is the easiest Ivy League academically? ›

Cornell is considered the "easiest" Ivy League to get into because it has the highest Ivy League acceptance rate. While it's easier, statistically speaking, to get into Cornell, it's still challenging. It's also important to remember that students apply directly to one of Cornell's eight undergraduate colleges.

What is the easiest Ivy League school to get into? ›

While all Ivy League schools are incredibly difficult to get into, Cornell University would likely be considered the easiest since it has the highest acceptance rate of all Ivies. As of fall 2021, Cornell's acceptance rate for first-year applicants was 9%. Most other Ivies have acceptance rates of around 4-6%.

Is Ivy League better than MIT? ›

MIT is not an Ivy League School. In terms of reputation, selectivity, national and international rankings, and overall prestige, MIT is undoubtedly on par with (and in some cases exceeds) the Ivies. Still, MIT is not in the Ivy League.

How competitive is financial engineering? ›

This field is fiercely competitive and you need to up your game to even have an opportunity to interview. There are a lot of different areas within math, but there is one thing for certain: if you're going to be a derivatives quant, you had best be good at stochastic calculus.

How many hours do financial engineers work? ›

Financial engineers typically work a standard 40-hour week, but may work longer hours to meet deadlines or to handle last-minute requests from clients.

Is financial engineering a good career? ›

JOB PROSPECTS

There is a high need for qualified financial engineers in the market. The demand for new financial engineers is particularly high in structured finance establishments. Moreover, the world of systematic, quantitative, algorithmic and automated trading offers various openings for financial engineers.

Is financial engineering a stem? ›

The MS in Financial Engineering program contains an interdisciplinary curriculum that includes STEM fields, which qualifies the program as a STEM designated degree.

Which engineering has highest demand in future? ›

Most In-Demand Engineering Branches in Future
  • Biomedical Engineering.
  • Automation & Robotics Engineering.
  • Agricultural Engineering.
  • Alternative Energy Engineering.
  • Civil Engineering.
  • Project Engineering.
  • Mining Engineering.
  • Environmental Engineering.

What can I work with a financial engineering degree? ›

Financial Engineering graduates are ready for the international workplace in the finance and analytics industries. Financial engineers could be involved in derivatives pricing, financial regulation, corporate finance, portfolio management, risk management, trading or structured products .

What skills do financial engineers need? ›

5 Skills of Successful Financial Engineers
  • Strong Math Aptitude. The most important part of a skill set for financial engineers is to have a very strong aptitude in mathematics. ...
  • Analytical. ...
  • Creative Thinker. ...
  • Computer Programming. ...
  • Interpersonal.
29 Aug 2017

Which country is best for finance study? ›

Best countries to study finance
  • Finance in USA.
  • Finance in UK.
  • Finance in Canada.
  • Finance in New Zealand.
  • Finance in France.
  • Finance in Germany.
  • Finance in Switzerland.
  • Finance in Australia.

Is engineering easier than finance? ›

Engineering is easier than finance, because the demand for engineers is higher than ever. Engineering, at least if you're talking about getting a degree. Engineering is far more rigorous and much more science than art. Things have to work or they break.

Is NYU better than Ivy League? ›

Is NYU an Ivy League School? Although NYU is not an Ivy League school, it is often considered on par with the Ivies due to academics, research, and athletic prestige. In fact, the school was declared as a “New Ivy” by Newsweek due to its impressive admissions statistics and quality education.

What is the number 1 hardest college to get into? ›

1. Harvard University — 3.19% With a record-low admission rate of just 3.19% for the class of 2026, Harvard currently ranks as the most difficult school to get into. This rate reflects admission into Harvard College, the Ivy League university's undergraduate school.

What is the #1 college in New York? ›

Columbia University

Is a 3.0 GPA good for NYU? ›

Is your high school GPA good enough for New York University (NYU)? The average high school GPA for admitted students at New York University (NYU) is 3.62 on a 4.0 scale. (You can calculate your high school a GPA here.)

What is a 3.76 GPA equivalent to? ›

A 3.7 GPA, or Grade Point Average, is equivalent to an A- letter grade on a 4.0 GPA scale. This means is equivalent to a 90-92%. The national average GPA is 3.0 which means a 3.7 is well above average.

Can I get into NYU grad school with a 3.0 GPA? ›

Admission Requirements

An undergraduate GPA of 3.0 or better is required for admission. Letters of Recommendation, a Statement of Purpose, and a professional resume are also required from all applicants seeking admission to any graduate program.

Is a 3.64 GPA good? ›

The GPA of the average high school graduate is 3.0, so it's pretty safe to say that a 3.6 GPA is considered “good.” You're eligible for acceptance into the vast majority of colleges, even competitive institutions!

What is a 3.8 GPA equivalent to? ›

A 3.8 GPA, or Grade Point Average, is equivalent to an A- letter grade on a 4.0 GPA scale. This means is equivalent to a 90-92%.

Is a 3.64 GPA good in college? ›

A 3.6 GPA, or Grade Point Average, is equivalent to an B+ letter grade on a 4.0 GPA scale. This means is equivalent to a 87-89%. The national average GPA is 3.0 which means a 3.6 above average. A 3.6 GPA can be hard to raise as it's already quite high, but if you really work hard it is possible!

Do financial engineers do codes? ›

Computer science is important for financial engineers, as it can implement automation, algorithms, coding and other strategies for efficient data analysis. By creating algorithms, financial engineers can detect and observe emerging trends in data.

Who uses financial engineering? ›

Financial engineers work with insurance companies, asset management firms, hedge funds, and banks. Within these companies, financial engineers work in proprietary trading, risk management, portfolio management, derivatives and options pricing, structured products, and corporate finance departments.

Is APJ Abdul Kalam an engineer? ›

He was president of India from 2002 to 2007. Kalam earned a degree in aeronautical engineering from the Madras Institute of Technology and in 1958 joined the Defence Research and Development Organisation (DRDO).

What type of engineer is Elon Musk? ›

Elon Musk has no formal engineering degree, but he clearly is industrial engineer by profession. His approach to business and problem solving is typical industrial engineering approach. His actual degrees (BS in both economics and physics) have good overlap with undergraduate curriculum in IE.

Which engineer is the happiest? ›

Structural engineering

As the chart below shows, of the engineers highlighted in this report, a petroleum engineer not only makes the most money both early and through their mid-career, but they also have the highest satisfaction rate.

What is the coolest type of engineering? ›

Here are five exciting engineering fields of study, which will lead to excellent careers you won't want to miss.
  • Structural engineering. ...
  • Robotics engineering. ...
  • Environmental engineer. ...
  • Petroleum engineer. ...
  • Aerospace engineer.
23 Jun 2019

What is the most stressful job in finance? ›

Accounting

Accounting jobs in product control can be stressful simply because they require interaction with traders on a daily basis, says Stoddart. Similarly, management and regulatory reporting roles can be stressful as deadlines come near.

Which is toughest degree in the world? ›

It is believed that a Bachelor of Science in Nursing or BSN is the toughest course in the world as per the Guinness Book of World Records along with courses like MBBS, BCom, IAS, IPS and Engineering, etc.

What is the most difficult degree? ›

The hardest degree subjects are Chemistry, Medicine, Architecture, Physics, Biomedical Science, Law, Neuroscience, Fine Arts, Electrical Engineering, Chemical Engineering, Economics, Education, Computer Science and Philosophy. Let's dive right in, and look at why these subjects are the hardest degree subjects.

What is the acceptance rate for Tandon school of engineering? ›

Is NYU Tandon a good engineering school? ›

New York University (Tandon) 2023 Rankings

New York University (Tandon) is ranked No. 33 (tie) in Best Engineering Schools. Schools are ranked according to their performance across a set of widely accepted indicators of excellence.

What GPA do you need for NYU Tandon? ›

General Requirements

Please note that the minimum GPA requirement is a 3.0 out of a 4.0 scale. Attention will be given to the programs accredited by ABET and programs accredited/approved by other various regional accrediting associations.

Is it hard to get into Carnegie Mellon engineering? ›

The acceptance rate at Carnegie Mellon is 15.4%.

For every 100 applicants, only 15 are admitted. This means the school is extremely selective. Meeting their GPA requirements and SAT/ACT requirements is very important to getting past their first round of filters and proving your academic preparation.

Is IIT Chicago hard to get into? ›

The acceptance rate at Illinois Institute of Technology is 52.7%. For every 100 applicants, 53 are admitted. This means the school is moderately selective.

Is NYU Tandon Ivy League? ›

Is NYU an Ivy League School? Although NYU is not an Ivy League school, it is often considered on par with the Ivies due to academics, research, and athletic prestige. In fact, the school was declared as a “New Ivy” by Newsweek due to its impressive admissions statistics and quality education.

Should I go to an Ivy League for engineering? ›

Yes, of course. Ivy League universities have lower department rankings in engineering than public universities like Berkeley and Michigan, but that's only relevant to grad school. For undergrad you learn mostly the same thing everywhere. You'll get a top notch engineering education at any Ivy League college.

Is NYU a Tier 1 school? ›

All unranked schools are “Tier 2.” Joni Hersch, a Vanderbilt University economics and law professor, wrote a report about this in 2014 and differentiated the schools as thus: “Tier 1 consists of major private research institutions like Yale, Johns Hopkins and New York University.

What engineering major is the hardest? ›

Chemical engineering

Is a degree from NYU worth it? ›

Going to NYU, despite the steep sticker price, is worth it for students who like to enjoy top-notch education and go to a school located in a big city. NYU is a very competitive and selective school that ranks high in college rankings. Although it's not an Ivy League, NYU is considered as a New Ivy.

What is the lowest GPA NYU will accept? ›

You should also have a 3.69 GPA or higher. If your GPA is lower than this, you need to compensate with a higher SAT/ACT score. For a school as selective as NYU, you'll also need to impress them with the rest of your application.

Is a 3.9 GPA good for NYU? ›

However, you should still aim for a high GPA. Your grades will make a major difference for your NYU application. The unofficial NYU GPA requirements range between 3.62 and 3.8. In addition, most of the first-year students in the NYU enrollment rank in the top 10% of their schools.

How hard is it to get into NYU for Masters? ›

An acceptance rate of just 12% means that NYU is highly selective—and getting even more so.

Is CMU better than Ivy? ›

Is Carnegie Mellon an Ivy League School? Carnegie Mellon is not an Ivy League school. The Ivies consist of Harvard, Yale, Princeton, Cornell, Dartmouth, Brown, Columbia, and the University of Pennsylvania. The Ivy League schools are known for their stellar academics, low acceptance rates, and social prestige.

Is Carnegie Mellon stressful? ›

There are many things that make Carnegie Mellon one of the most stressful learning institutions in the US. Definitely, the need to constantly exhibit hard work, determination and passion for four years is one of the main reasons.

What is the hardest tech school to get into? ›

Massachusetts Institute of Technology

MIT, in Cambridge, Massachusetts, has a 7% acceptance rate. For 2023, it ranks as Niche's No. 1 college in the United States for engineering.

Videos

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2. Video Essay | NYU Tandon | M.S. Financial Engineering | Fall 2020
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3. Video Question for Financial Engineering at Tandon School of Engineering, NYU
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4. NYU Tandon Financial Engineer Application Video
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