New Masters of Financial Engineering Degree

The Department of Finance in the College of Business, and the Department of Industrial and Enterprise Systems Engineering in the College of Engineering announced the launch of the Master of Science in Financial Engineering (MSFE) degree program.

The first entering class will be admitted for Fall 2010.

There is a strong demand for graduates with skill sets that span finance, mathematics, and computer programming. There are challenging career opportunities in energy and other commodities trading, startups, joint ventures, risk management, financial services, banking, wealth and asset management, insurance, government agencies, trading companies, hedge funds, information technology, and consulting. Graduates of the MSFE program will be well-suited for such positions.

This program will provide a unique, cross-disciplinary experience for students in the classroom. The MSFE degree is designed to be a three-semester program with a summer internship opportunity; students complete the program in December of their second year.

“This is the first professional master’s program in the College of Engineering that is joint with a unit in the College of Business. The heart of the financial engineering curriculum is the marriage of the two departments. The MSFE program at Illinois will prepare students to effectively solve the many complex challenges of today’s financial markets,” said Jong-Shi Pang, Caterpillar Professor and Head of the Department of Industrial and Enterprise Systems Engineering.

“Financial engineers play a key role in bridging financial theory and practice, by applying cutting-edge quantitative models and methods to financial decision making. The complex techniques for risk management that are at the core of financial engineering are becoming more and more important to a larger set of businesses, making people with this set of skills highly sought-after—not just for derivatives valuation and portfolio management, but also in corporate treasuries and regulatory institutions,” said Charles Kahn, the Fred S. Bailey Memorial Professor and Chair of the Department of Finance

Applications will be accepted beginning December 15, 2009. For more information and regular updates, please visit: