MSc in Financial Engineering

2 years full time, 120 ECTS, degree

Language of instruction, English

Overview

Financial engineering is a multidisciplinary field involving finance, engineering type problem solving skills, mathematical tools, programming skills and communications skills.  Financial engineering is a relatively young field that is growing by leaps and bounds each year. 

The aim of the Financial Engineering program at Reykjavik University is to produce high-calibre practitioners and researchers who will be able to apply engineering problem solving skills and quantitative methods with common sense so as to develop profitable new financial solutions that can potentially change the way consumers and corporations think about taking and managing financial market risks. As a part of the program the students have the option of acquiring hands-on experience working on practical problems in finance as part of the curriculum.

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After successful completion of the programme the student is awarded the degree Master of Science in Financial engineering. The programme is designed to meet the curriculum requirements for the professional title of chartered engineer (Icelandic: verkfræðingur), as defined by the Ministry of industry and the Association of chartered engineers in Iceland.  

Structure

The MSc program in Financial Engineering is a full-time two year program divided into 4 semesters.

During the first three semesters all students take 9 core courses that include applied probability, statistics and data mining techniques, quantitative methods for investment decisions, stochastic processes, financial derivatives, optimization methods, risk management and a seminar series where actual problems are presented, analysed and solved in collaboration with professionals. A normal workload during the first three semesters is three MSc level courses and either research work or an extra elective course for enhancing the understanding of the research topic. 

During the fourth semester, the students complete the research project and write a thesis.  Students are encouraged to take a semester abroad during the second year.

Course catalogue (pdf)
Learning outcomes

                  Year 1

 

Fall           Applied Probability

                 Data Mining and Statistics     

                 Optimization Methods

                 Elective course

 

Spring      Fixed income Analysis

                  Investments

                  Derivatives

                  Mathematical Methods in Finance       

Year 2

 

Stochastic Processes

Risk Management

Thesis preparation

 

 

Thesis



The Financial Engineering program at Reykjavik University was designed in close collaboration with the Sloan School of Management and the Operations Research Center at MIT.  Reykjavik University and MIT will continue to collaborate in research and teaching.

Admission

  • Undergraduate degree in engineering, mathematics or physics
  • Basic knowledge on stocks, fixed income instruments, and derivatives
  • Able to program in Matlab, C++ or other programming languages
  • Undergraduate courses on Calculus, Linear Algebra, Probability and Statistics

An otherwise promising student who does not satisfy the requirements above may be accepted to the program. In such a case the student is expected to fill the aforementioned requirements during the first year of study.

Apply

Contact us

If you would like any further information please do not hesitate to contact us.

Office of the School of Science and Engineering tvd(at)ru.is

Páll Jensson Head of Financial and Engineering Managmenet

Páll Jensson
Head of Financial Engineering and Engineering Management
(+354)  599 6563

For international enquiries please contact:

Verity Louise Sharp International admissions officerVerity Louise Sharp
International Admissions Officer
(+354) 599 6200
admissions@ru.is

 




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