Financial Economics (M.S.)
Much of finance has its roots in economics, so mastery of topics at the intersection of those two fields is key to understanding and solving challenges in today鈥檚 financial system and to the proper application of regulation and public policy.
The Master of Science in Financial Economics program at Stuart School of Business provides a foundation in both the theory and practical areas of finance and economics. You鈥檒l develop the comprehensive scientific, mathematical, and applied skill sets for testing and applying financial and economic models, as well as the tools and critical thinking skills to solve problems in practice and regulation involving asset pricing, risk management, financial engineering, corporate finance, or portfolio management.
The program鈥檚 curriculum is particularly well-suited to students with a background in economics or finance who are interested in highly employable careers conducting research, making policy, or managing risk in financial institutions or government entities.
At Stuart, you鈥檒l learn the latest industry-relevant ideas and technologies from faculty who are both practitioners and scholars and who bring their career knowledge and understanding of the marketplace directly into the classroom.
电车无码 is a global financial center, and our strong industry connections open up opportunities for internships, real-world projects in courses, and networking with Stuart alumni and other accomplished professionals.
Through Illinois Tech鈥檚 one-of-a-kind Elevate program, you are guaranteed access to hands-on experiences, such as internships, throughout your graduate education, as well as personalized mentorship to guide your academic studies and career planning.
STEM-Designated Program
This is a STEM-designated program, and international graduates of the program are eligible to apply for an extension for Optional Practical Training, which allows selected students to stay and work in the United States for up to three years after graduation.
Program Overview
This interdisciplinary program focuses on the practical application of economics and data analytics through the lens of finance and the markets. You鈥檒l develop sophisticated quantitative, analytical, and modeling skills that are in demand for research, policy making, and risk management jobs, especially in the financial and public sectors.
Career Opportunities
The M.S. in Financial Economics program provides excellent preparation for the private, public, and nonprofit sector job markets in positions such as economists, policy analysts, financial analysts, and management consultants. Depending on the concentration that you choose, the degree is flexible and also includes career paths ranging from investment adviser, to economic forecaster, to data analyst.
Graduates with a degree in financial economics have a relatively high mean starting salary of $61,000 (base) and report a job satisfaction rating of 4.5/5.0 according to payscale.com. Ziprecruiter.com reports a higher mean starting salary of $82,000.
The United States Bureau of Labor Statistics reports a median annual wage for of $113,940 in 2022, with job growth from 2022-32 projected to be six percent, which is faster than the average growth for all occupations.
The M.S. in Financial Economics program draws from Stuart鈥檚 M.S. programs in finance, management science, and marketing analytics to deliver a combined skill set that offers a unique economic focus on financial topics. A selection of elective concentrations allows you to develop valuable expertise in industry specializations.
The M.S. in Financial Economics degree requires a minimum of 30 credit hours (10 courses) for completion.
This program typically is completed full-time in four semesters (21 months without summer courses). Especially motivated students may be able to complete the program full-time in three semesters (16 months without summer courses or 12 months with summer courses).
Core Courses
Required; 18 credit hours (six courses)
鈥擬athematical Economics I (Microeconomics)
鈥擡conometrics and Statistics I
鈥擬athematical Economics II (Microeconomics and Macroeconomics)
鈥擡conometrics and Statistics II
鈥擵aluation and Portfolio Management
鈥擣inancial Statement Analysis
Elective/Concentration Courses
Students take 12 credit hours (four courses) in addition to the core courses, which may consist of an optional (and strongly recommended) concentration of three courses plus one elective course. Students who opt out of a concentration choose four elective courses.
Concentrations
The following five concentrations are offered; each requires the three courses listed.
Asset Pricing and Investments
鈥擳heory of Finance I
鈥擨苍惫别蝉迟尘别苍迟蝉
鈥擡quity Valuation
Financial Engineering
鈥擠erivative Securities
鈥擬odels for Derivatives
鈥擣ixed Income Portfolio Management
Risk Management
鈥擟redit Risk Management
鈥擬arket Risk Management
鈥擳ime Series Analysis
Corporate Finance and Valuation
鈥擟orporate Finance
鈥擨nvestment Banking and Venture Capital
鈥擡quity Valuation
Data Analytics
鈥擜nalytics for Decision Making
鈥擵isual Analytics - Data Analytics & Visualization
鈥擳ime Series Analysis
Custom Concentration
It is possible to earn a custom concentration by specifying a three-course sequence and obtaining permission from the program director. The courses should form a coherent theme, enumerated by the student. In this case, the concentration should be approved in advance of enrolling in the final nine credit hours for the program. As an example, a student in the M.S. in Financial Economics program might wish to complete the Financial Technology concentration from the M.S. in Finance program.
- Completed online application
- Official transcript submission with a minimum cumulative undergraduate grade-point average of 3.0 on a 4.0 scale
- No GMAT or GRE scores required
- A one-page statement of purpose, with goals and objectives
- English proficiency exam, if required
Given the prescribed sequence of required courses, new students are only admitted in the fall semester of each year.
Have Questions? Connect with Us
For any questions about Stuart School of Business degree programs or the application and enrollment process, contact our Director of Student Recruitment Claire Johnson.
Scholarships
Domestic students pursuing the M.S. in Financial Economics degree are eligible to apply for the 电车无码 Talent Pipeline Scholarship, which supports motivated individuals to advance their career paths in 电车无码鈥檚 dynamic finance industry. In academic year 2024鈥25, this scholarship awards up to $14,000 per degree.
International students pursuing the M.S. in Financial Economics degree are eligible to apply for the Stuart School of Business Dean鈥檚 Scholarship, which in academic year 2024鈥25 awards up to $14,000 for the full two-year program.
Read more about Stuart scholarship opportunities and tuition and fees:
Get Hands-on with Finance
Experience an Internship
Through Stuart School鈥檚 connections, our students get a head start on their careers with internships at CME Group, Eurex, Wintrust, and other top companies.
Dive into Equity Analysis
Learn by doing in Stuart Investments, the student-led organization where you can participate in equity research, valuation modeling, and portfolio management.
Gain a Competitive Edge
From risk management to equity valuation, Stuart students put their financial knowledge and skills to the test in national and international business competitions.
Stuart Stands Out
Stuart is AACSB Accredited. Only 6% of Business Schools Globally Are.
鈥擜ssociation to Advance Collegiate Schools of Business International
Career Placement Rate
鈥擲tuart School of Business 2022 master鈥檚 and Ph.D. graduates reporting
Only Business School in a Tech-Focused University in 电车无码
Featured Faculty
Ricky 鈥淩ick鈥 Cooper
Haizhi Wang
Benjamin E. Van Vliet
Priyanka Sharma
Sang Baum 鈥淪olomon鈥 Kang
Yiwei Fang
Li Cai
Excellence in Competitions
Stuart students have excelled in competitions in areas such as equity research, portfolio and risk management, and trading against teams from top universities around the world.
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Tools for Research
The Financial Markets Research Lab at Stuart School of Business is designed to give students the tools they need to pursue high-level research in finance. The lab features 10 individual dual-monitor Bloomberg workstations, two large wall-mounted monitors for screen sharing, and the latest software and subscriptions to major business databases.
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