MS in Computational Finance (MSCF)

Carnegie Mellon University

Program Description

MS in Computational Finance (MSCF)

Carnegie Mellon University

The MSCF Program

Introduced in 1994, Carnegie Mellon's pioneering Master of Science in Computational Finance (MSCF) is considered by many today to be the top quantitative financial engineering program in the country.


The MSCF program is the joint venture of four colleges on our campus - the Tepper School of Business, the Mathematical Sciences Department, the Department of Statistics, and the Heinz College. Administered by the Tepper School of Business, the MSCF student enjoys the advantages of the business school environment, including the full resources of the School's placement services. As a result of the collaborative efforts of these four colleges, MSCF's twenty-five courses are both balanced and deep. Designed expressly for the MSCF student and the needs of the industry, the curriculum seamlessly integrates instruction in probability, statistical analysis, numerical methods, computation and simulation methods, stochastic processes, economics, and their application in today’s quantitative financial markets.


The MSCF program is intense and extremely demanding - recruiters know the students graduating from MSCF are bright, highly motivated and keenly interested in the financial engineering industry. Our employment rates remain high - even in these challenging times.


If your passion is to be in derivative sales and trading, solving client needs through structured products, financial analytics, or risk management, there is no program better able to provide you with the educational tools and recruiting services you need to succeed!

Full-Time MSCF

The Master in Computational Finance program (MSCF) at Carnegie Mellon offers a full-time computational finance graduate degree available in both Pittsburgh, PA and New York, NY. We have approximately forty, full-time students in the Pittsburgh program, and approximately thirty-five, full-time students in the New York program. The degree is a sixteen month, three-semester course of study.


The primary mode of instruction for the New York campus is live, interactive video. The faculty teaches a minimum of twice every seven weeks in New York after which students are invited to join the professor for a social event. Whether situated in Pittsburgh or New York, all lectures are "captured" and made immediately available to MSCF students via the internet.

Part-Time MSCF

The Master in Computational Finance program (MSCF) at Carnegie Mellon offers a part-time computational finance graduate degree available in both Pittsburgh, PA and New York, NY. The degree is a thirty-three month, twelve mini-semester courses of study.


The part-time program is designed for students seeking to maintain their full-time jobs while pursuing their MSCF degree in the evenings. The program is available in Pittsburgh (Carnegie Mellon University campus) and New York City (55 Broad Street).


The primary mode of instruction for the New York campus is live, interactive video. The faculty teaches a minimum of twice every seven weeks in New York, after which students are invited to join the professor for a social event. Whether situated in Pittsburgh or New York, all lectures are "captured" and made immediately available to MSCF students via the internet.

Online MSCF

Beginning Fall 2012, the Master in Computational Finance program offers the MSCF degree online -- students can now take the full, twelve mini-semester course of study offered our part-time students without the residency requirement!


Online MSCF students take the same classes as our resident students but do so remotely. Students may PARTICIPATE LIVE via interactive video by means of a headset/microphone and video from his/her laptop and ask questions of and be called upon by the professor in class, WATCH the class live through his/her laptop, or WATCH the recorded video following the live lecture. (Classes marked with an asterisk in the "Online MSCF Course Sequence" involve group presentations and/or peer evaluations and require the student’s participation in the live interactive class.)


With the exception of the additional requirement that the successful online MSCF degree candidate has a minimum of two years relevant work experience and be located more than 50 miles from our New York and Pittsburgh campus, admissions eligibility standards for our online students are the same as those for our resident full-time and part-time students.


Online MSCF degree students receive the same diploma as our resident full-time and part-time students. Academic resources are available through Carnegie Mellon’s online library and “Blackboard” software; “out-of-classroom” student interaction is encouraged through social media. Exams are conducted using an online proctoring service. With the exception of the first mini-semester, students take two courses per mini. Tuition is $3,228 per course, plus an annual $350 technology fee. 25 courses are required to graduate. Total estimated cost of the program is $81,750.


Online MSCF degree students receive career services similar to those offered our resident, part-time students, including access to our online career education program and counseling services conducted on campus, by videoconference, or by telephone. While many of our online students will wish to remain in their current location upon completion of the degree, students may travel to NY or Pittsburgh for internship campus job interviews.

Admissions

MSCF is a sophisticated, rigorous course of instruction. Outstanding academic credentials are necessary for admission to the program. Applicants should hold an undergraduate degree in a technical discipline such as mathematics, computer science, engineering or economics. Successful applicants will have taken at least two full semesters of study in differential and integral calculus, the caliber of which is required of engineering, math or science majors (ordinary differential equations, linear algebra, and a calculus-based probability course). Applicants should have strong academic performance in mathematics and probability coursework.


Applicants must be fluent in a general-purpose programming language such as C. Familiarity with C++ will be of considerable benefit. Applicants lacking these skills may still be considered, provided they take steps to acquire the necessary skills before entering the program and satisfy the admissions committee requirements.


Relevant professional experience is preferred but not required. If you are accepted for admission to Carnegie Mellon's MSCF program and have not completed all of your undergraduate work at the time the application was made, you must, before registration, submit the completed academic records and certification that your undergraduate degree has been awarded.International applicants must understand rapid, idiomatic English, read English with ease and be able to express themselves orally and in writing as demonstrated by success on the TOEFL or IELTS examination.


All full-time degree candidates admitted to the MSCF program will be automatically considered for an "MSCF Merit Scholarship". No additional application is required to be reviewed for this award. Criteria for a merit scholarship is based on the strength of a student's overall candidacy relative to the application pool for the year. All merit scholarships are partial scholarship awards. Visit the Tuition and Financial Aid section of our website for more information on scholarship and other financing options.


All MSCF degree students are required to have a laptop computer available for use for the duration of the MSCF program. A fully supported, laptop computer, pre-loaded with the software needed for the MSCF program and configured for either wireless or Ethernet access to the internet and CMU networks, is available for purchase through the MSCF program.



Last updated January 30, 2018
Duration & Price
This course is
Online
Campus based
Start Date
Start date
Sept. 2019
Duration
Duration
16 - 33 months
Part time
Full time
Price
Price
- Estimated USD109915 if study in New York
Information
Deadline
Locations
USA - New York, New York
Start date : Sept. 2019
Application deadline Request Info
End date Request Info
USA - Pittsburgh, Pennsylvania
Start date : Sept. 2019
Application deadline Request Info
End date Request Info
Dates
Sept. 2019
USA - Pittsburgh, Pennsylvania
Application deadline Request Info
End date Request Info
USA - New York, New York
Application deadline Request Info
End date Request Info