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Master of Science in Financial Engineering

Financial Engineering is a multidisciplinary education program that involves the Viterbi School of Engineering, the Marshal School of Business and the College of Letters, Arts and Sciences (Department of Economics). Financial engineering uses tools from finance and economics, engineering, applied mathematics and statistics to address problems such as derivative securities valuation, strategic planning and dynamic investment strategies, risk management etc which are of interest to investment and commercial banks, trading companies, hedge funds, insurance companies, corporate risk managers and regulatory agencies etc.

The objective of the MS in Financial Engineering program is the training of graduate students with Engineering, Applied Mathematics or Physics backgrounds in the application of mathematical and engineering tools to finance.

More Information: Download slides and view a previously recorded information session on the MS in Financial engineering.

Available On-Campus and Online
In addition to our traditional on-campus classroom environment, this program is also available via online delivery through the Viterbi School’s Distance Education Network (DEN). This flexible option is ideal for engineering professionals who choose to pursue an advanced degree while employed. Visit our 'Getting Started' section to find out if DEN is right for you.


Application Criteria & Materials
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Application Criteria

An undergraduate degree in engineering, math or hard science from a regionally-accredited university. Applicants with undergraduate degrees in finance, accounting and similar are also eligible to apply for this program.

Satisfactory cumulative undergraduate GPA (grade point average)

Satisfactory GRE or GMAT test scores. All scores must be officially reported to the university directly by ETS.

Apply Online: www.usc.edu/admission/graduate/apply


Application Materials
All Applicants
 
International Applicants

USC Online Application: All applicants must complete and submit the USC Online Application.

Transcripts: Official transcripts from all colleges and universities attended, sealed by the institution.

Mail transcripts to:

USC Graduate Office of Admission
University Park Campus
Los Angeles, CA 90089-0915

If via private carrier (UPS, FedEx, DHL, etc.):

University of Southern California Office of Admission & Financial Aid
3601 South Flower Street
Tyler 1
Los Angeles, CA 90089-0915

GRE General Test: Satisfactory scores less than five years old. Official scores must be reported from ETS directly to USC using ETS school code 4852. A department code is not required.

Applicants may also substitute the GMAT exam for the GRE exam and must be less than five years old. The GMAT program code for the MS in Financial Engineering is 389-RD-73.

Letters of Recommendation (optional): Letters of recommendation should be from faculty or others (supervisors, professional colleagues, etc.) qualified to evaluate your potential for graduate study. They should be written on official letterhead.

Statement of Purpose (optional): The statement of purpose should describe succinctly your reasons for applying to the proposed program at the Viterbi School of Engineering, your preparation for this field of study, study interests, future career plans, and other aspects of your background and interests which may aid the admissions committee in evaluating your aptitude and motivation for graduate study.

 

TOEFL: The TOEFL is not required for admission to USC, however, we strongly encourage all international students to submit a TOEFL score. USC administers an English placement (ISE) exam during orientation for all international students to determine if additional courses in English are needed. Students can place out of the exam with a score of at least:

  • 100 or higher on the internet-based TOEFL (with a minimum score of 20 in each section)
  • 250 or higher on the computer-based TOEFL
  • 600 or higher on the paper-based TOEFL

Students whose native language is English and/or obtained their bachelor's degree from a U.S. college or university are also exempted from this requirement.

The TOEFL must have been taken within the last two years to be valid.



Completion Requirements
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A minimum of 27 units is required for the general MS in Financial Engineering degree.

  • 3 required courses: 9 units
  • 2 advisor-approved electives in the areas of finance, business, and economics: 6 units
  • 3 advisor-approved electives in the areas of optimization, simulations, and stochastic systems: 9 units
  • 1 advisor-approved elective in the areas of systems and controls: 3 units
  • Minimum of 18 units must be taken from within the Viterbi School of Engineering.
  • A minimum cumulative GPA of 3.00 is required for graduation.



Program Details and Course Offerings
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Click on these icons next to a course name for more information:
Available Online through the Distance Education Network. Visit our 'Getting Started' section to find out more information.


Please note that the courses listed below are those typically available. Students should always consult with the USC Schedule of Classes and USC Catalogue for the most updated and official information. If you have any questions about these courses, please contact our office directly.

Please note that several EE courses require placement exams before any graduate student may register. Visit the EE department website for more details.

Please note: Students who want to transfer to the M.S. in Financial Engineering must take the EE-441 & EE-465 placment exams. Students must pass both placmeent exams and have a 3.0 cumulative USC GPA to be considered.

Students are expected to have a background in probability at the level of USC's EE 464 or ISE 220 and linear algebra at the level of USC's EE 441 or MATH 225. Admitted students who do not meet prerequisites will be assigned courses to complete the deficiencies.

 

Required Courses (9 Units)
Notes
GSBA 548 | Corporate Finance   Available Online
ISE 563 | Financial Engineering   Available Online
EE 512 | Evolution Theory of Stochastic Processes   Available Online


Advisor Approved Electives (Select courses from 3 areas)
Notes
Finance, Business, Economics Area: Two courses (6 units)
ISE 566 | Financial Accounting and Analysis for Engineers   Available Online
ECON 500 | Microeconomic Analysis and Policy   Available Online
ECON 501 | Macroeconomic Analysis and Policy   Available Online
ECON 613 | Econometric and Financial Time Series I    
FBE 529 | Financial Analysis and Valuation    
FBE 535 | Applied Finance in Fixed Income Securities    
FBE 543 | Forecasting and Risk Analysis    
FBE 554 | Trading and Exchanges    
FBE 555 | Investment Analysis and Portfolio Management    
FBE 559 | Management of Financial Risk    
FBE 589 | Mortgages and Mortgage-Backed Securities and Markets    
Optimization, Simulations, Stochastic Systems: Three courses (9 units)
CE 645 | Uncertainty Modeling and Stochastic Optimization    
EE 464 | Probability Theory for Engineers   Available Online
EE 465 | Probabilistic Methods in Computer Systems Modeling   Available Online
EE 517 | Statistics for Engineers    
EE 553 | Computational Solution of Optimization Problems   Available Online
EE/ISE 556 | Stochastic Systems and Finance    
EE 562a | Random Processes in Engineering   Available Online
ISE 520 | Optimization: Theory and Algorithms   Available Online
ISE 536 | Linear Programming and Extensions   Available Online
ISE 538 | Elements of Stochastic Processes   Available Online
ISE 539 | Stochastic Elements of Simulation   Available Online
ISE 560/CSCI 570 | Analysis of Algorithms    
***Students cannot receive credit for both ISE 520 and EE 553. Students can only take ONE of the basic probability courses: ISE 538, EE 464, EE 465.
Systems and Control Area: One course (3 units)
AME 541 | Linear Control Systems II   Available Online
EE 500 | Neural and Fuzzy Systems    
EE 585 | Linear System Theory   Available Online
EE 587 | Nonlinear and Adaptive Control   Available Online
EE 588 | Linear Quadratic Control   Available Online
***Students cannot receive credit for both EE 585 and AME 541




Contact Information
All General Questions
Please contact our office for all general questions about this program, including courses through DEN.
Ph: 213-740-4488
Toll Free (in the U.S.): 877-740-1336
Fax: 213-821-0851
Request Information


Ming Hsieh Department of Electrical Engineering
One of the lead programs in the nation: 70 Ph.D's, 14 National Academy of Engineering members and over 30 fellows of the IEEE comprise faculty; seminal research in emerging communications technologies, including wireless/UWB; signal processing; integrated circuits and VLSI; photonics; optical communications and materials development.

http://ee.usc.edu



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