Courses & Plan of Study

The Financial Engineering Program at the Drucker School provides a flexible interdisciplinary curriculum. You have the opportunity to tailor your study to align with your professional goals within general finance, quantitative finance or data analytics.

Forty (40) units are required for the MSFE degree. The program can be completed in three semesters of full-time study.

New students are required to show competency in Financial Accounting and Probability prior to enrollment in coursework via the following options:

  • Have taken a Financial Accounting course in their undergraduate coursework or recently online
  • Pass a probability waiver exam or have taken a Probability course in their undergraduate coursework or recently in a community college, college or university

New students are required to have successfully passed both courses prior to the start of the program or within the past 5 years and received a grade of a B or better. Students who do not fulfill the competency requirements for probability will have to take a probability course at CGU for 4 units and would have to pay the required tuition. The same requirements apply for Financial Accounting.

An internship in Financial Engineering can apply toward the management electives requirement.

Students with appropriate backgrounds can substitute up to 8 units of elective coursework for required courses. Course waivers are determined during academic advising sessions and approved by faculty.


MSFE Unit Breakdown

Finance Core Courses 14 Units
Mathematics Core Courses 14 Units
Elective Courses 12 Units
Total Degree 40 Units


Curriculum Breakdown

The FE program takes from 18 months to two years to complete. Scheduling is flexible, and the degree can be pursued either part-time or full-time.

Semester 1:
Corporate Finance
Introduction to Risk Management

Semester 2:
Stochastic Processes
Financial Time Series*
Financial Derivatives
Elective (Math or Finance)

Semester 3:
Mathematical Finance
Asset Management Practicum
Quantitative Risk Management OR Optimal Portfolio Theory
Elective (Math or Finance)

*Either Statistics or Financial Time Series is a mandatory core requirement.


Core Courses

Math Clinics

Financial Engineering students have the opportunity to participate in client-based projects called Math Clinics. Clinic teams address problems of sufficient magnitude and complexity that their analysis, solution and exposition require substantial effort over the course of an academic year or full-time involvement over a summer. If problems require expertise from disciplines other than mathematics–such as engineering, physics or economics–advanced undergraduate or graduate students from these disciplines may join the Clinic team. The CGU Mathematics Clinic works closely with its counterparts at the Claremont Colleges, with clinic teams often combining graduate students and advanced undergraduates. Click here for more information on Math Clinics.

Dual Degree in Financial Engineering and Mathematics

Financial Engineering students have the option of applying to the dual MSFE/MS Math dual degree program. The combination of the two degrees allows students to enhance their quantitative knowledge and broaden their professional opportunities. Students who add the MS Math degree may complete both programs in two years.

Area of Concentration

Market demand for data analysts is expected to grow tremendously in the next 10 years. The trend is acute in every area of business, including financial engineering. With the huge quantity of data (“big data”) now available, financial engineers will be able to automatically detect patterns from accounting, financial, or web-based data. With access to enormous quantities of data, financial engineers need knowledge and powerful methods for extracting quantitative information, particularly on volatility and risk.

Sampling of Electives

The Financial Engineering Program at the Drucker School provides a flexible interdisciplinary curriculum. Forty (40) units are required to complete the degree. Twelve (12) of those units are elective courses, which you can choose from the options below.

Full descriptions for the mathematics courses are available on the Institute for Mathematical Sciences page.

Behavioral Finance & Risk Management
Econometrics III
Game Theory
Financial Statement Analysis
Energy Derivatives
Global Finance
MGT 373 Financial Strategy & Policy
MGT 376 Competing in a Global Environment
MGT 383 Economics of Strategy
Entrepreneurial Finance
Selected Topics in Finance: Fixed Income and Other Investments
Intro to C++
Numerical Analysis
Partial Differential Equations
Mathematical Modeling
Math Clinic (2 semester sequence)
Linear Statistical Models
Numerical Methods for Finance
Credit Risk
Data Mining
Advanced Numerical Analysis
Discrete Mathematical Modeling
Bayesian Data Analysis
Statistical Learning

Exchange Program

The Study Abroad Program is open to all Drucker students, but the Financial Engineering program offers its students the exclusive opportunity to participate in an exchange program at the University of Lausanne, located in the beautiful country of Switzerland.

Known for its banking system and situated at the heart of Europe, Switzerland offers our students the opportunity to participate in financial forums and engage in stimulating financial discussions, both with world-renowned faculty and seasoned professionals.

Classes offered in the exchange program are comparable to those offered at CGU. These courses include: Asset Pricing, Econometrics, International Finance, Probability, Stochastic Processes, Applied Corporate Finance, and Derivatives.