Carnegie Mellon created the first quantitative finance degree in 1994. Today, our Master of Science in Computational Finance (MSCF) is considered by many to be the top quantitative financial engineering program of its kind. Structured as a joint-venture between four Carnegie Mellon colleges (the Department of Statistics & Data Science, the Heinz College of Information Systems and Public Policy, the Department of Mathematical Sciences and the Tepper School of Business), the MSCF program offers a rigorous and cohesive set of twenty-five courses designed specifically for the needs of the quantitative finance industry.
We break our three-semester program into six, seven-week long “mini” semesters. Courses focus on the quantitative finance career paths of interest to our students: in trading, financial modeling, quantitative portfolio management, risk management and data science.
Students learn traditional finance theories of equity and bond portfolio management, the stochastic calculus models on which derivative security trading is based and computational techniques such as Monte Carlo simulation, optimization, and the numerical solution of partial differential equations, using C++, Python and R programming. Students take a sequence of courses on modern data science, machine learning and time series analysis and apply these methods in courses on asset management, statistical arbitrage, risk management and market microstructure. A required summer internship puts the skills learned in the MSCF program to use in industry. Project work, some of which is team-based, is emphasized including a capstone course in financial engineering. A strong emphasis is placed on communication skills throughout the program.
While students are permitted a degree of specialization in the last two mini-semesters through their choice of electives, the program is largely fixed with each set of courses preparing the groundwork for the next, more advanced, set. With all our students taking the same courses, recruiters value our students’ consistent ability to meet the analytical and technical challenges and opportunities facing the industry.
For information on how to engage with and recruit MSCF students, please visit Recruit at MSCF.
We are pleased that you are considering our students for your hiring needs. We look forward to working with you.