The purpose of this degree is to provide students with the knowledge and essential skills to respond to the changes and new challenges that characterize the fast changing world of Financial Engineering and Risk Analysis. The goal of the program is for students to master cutting-edge financial theory as well as advanced analytical and quantitative techniques that have become key to the success of the new breed of financial experts. Students will be exposed to emerging concepts, practices, and techniques in the finance industry through rigorous training in empirical research and modeling, using a variety of professional databases and computer software packages.
The degree offers three tracks - a general track and tracks in quantitative finance and financial analysis. Within these three tracks students will be able to develop expertise in areas such as quantitative financial analysis and financial risk assessment and management.
The program requires four basic foundation courses and six courses in the area of concentration. The FERA Program is designed to allow for maximum flexibility for students from a variety of backgrounds wishing to pursue rigorous study in financial engineering and risk analytics. Thirty credit hours for students with Finance or Technical undergraduate background.
Prerequisites: Basic foundation of mathematics and statistics. Students may take a suitable prerequisite course within Lally if such a course is offered and is approved by the FERA Program Director. Students with college-level calculus and statistics courses (the equivalent of 6 credit hours) will normally have fulfilled this prerequisite, as will students with undergraduate backgrounds in finance, management, business, economics, and technical fields. Mathematical and Statistical Foundations (or substitute) courses will not count towards the 30-credit-hour FERA degree requirement. Courses fulfilling this Math and Statistics foundation course requirement include MATH 1520, MATH 4100, ISYE 4140.
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