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Master of Science in Financial Risk Management will provide students with comprehensive, foundational knowledge of modern risk management. Students who complete this degree will be well positioned to accept financial risk management responsibilities and implement effective financial risk management programs in their firms. They will also be able to identify and develop appropriate risk management strategies as new challenges, opportunities, and needs arise in the future.

This degree program is designed so that students have the academic background needed for the professional certification tests of the leading professional financial risk management associations. These are the Financial Risk Manager (FRM) certification of the Global Association of Risk Professionals (GARP) and the Professional Risk Manager (PRM) certification of the Professional Risk Managers International Association (PRMIA). Our program is an academic program that, while it covers the material needed for the FRM and PRM certifications, is not primarily an exam preparatory course.

 

Preliminary Courses (0-12 Credits)

Based on their academic background, the admitted applicants may be required to take preliminary courses from the following list. These courses are not part of the 30-credit MSFRM curriculum and the students who take them will incur additional cost.

Financial Reporting3 credits
Firms in the Global Economy1.5 credits
Fundamentals of Macroeconomics, or equivalent1.5 credits
Introduction to Quantitative Tools for Finance, or equivalent3 credits
Corporate Finance3 credits
The program is changing from 100% required curriculum to a more flexible curriculum as described below, effective fall 2016. Students admitted prior to fall 2016 may also pursue this curriculum.
Required Courses (22.5 credits)
Business Communication I1.5 credits
Econometrics - Theory and Applications I3 credits
Investment Analysis3 credits
Debt Instruments and Markets3 credits
 Options Markets3 credits
Measurement and Management of Market Risk I1.5 credits
Measurement and Management of Market Risk II1.5 credits
Measurement and Management of Credit Risk I1.5 credits
Measurement and Management of Credit Risk II1.5 credits
Measurement and Management of Risks in Operations and Information Technology1.5 credits
Measurement and Management of Risks in Investments1.5 credits
Elective Courses (7.5 credits from the following list)
Money, Banking, and Monetary Policy3 credits
Econometrics: Theory and Applications II3 credits
Technical Analysis3 credits
Mergers and Acquisitions3 credits
Venture Capital and Entrepreneurial Finance3 credits
Managerial Finance3 credits
Futures and Forwards Markets3 credits
Management of Financial Institutions3 credits
Financial Markets and Intermediaries3 credits
International Financial Markets3 credits
International Corporate Finance3 credits
Equity Markets: Trading and Structure 
Seminar in Finance3 credits
Advanced Managerial Finance3 credits
Advanced Investment Analysis3 credits
Classical Foundations of Financial Risk Management1.5 credits
Implications of Corporate Governance, Regulation, and Ethics of Risk Management1.5 credits
International Finance Markets1.5 credits
Debt Securities1.5 credits
Futures and Forwards1.5 credits
Options1.5 credits
Venture Capital1.5 credits
Special Topics in Investments1 credit
Special Topics in Investments1.5 credits
Special Topics in Investments2 credits
Special Topics in Investments3 credits
Special Topics in Corporate Finance1 credit
Special Topics in Corporate Finance1.5 credits
Special Topics in Corporate Finance2 credits
Special Topics in Corporate Finance3 credits
Risk Management in Financial Institutions3 credits

+Effective for all MS-Financial Risk Management students admitted in spring 2016 or later. Students admitted prior to spring 2016 should consult their preliminary course evaluation and/or waiver exam results, since other requirements and conditions may apply.

*Formerly ACC 9110 Financial Accounting; new course title effective Spring 2017.

**Formerly ECO 9730 Fundamentals of Microeconomics; new course title effective Spring 2017.

***Formerly FIN 9770 Financial Decision Making; new course title effective Spring 2017.

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