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Financial Risk Management Track

Are you ready for the next step in your finance career?

  • Immerse yourself in a rigorous introduction to risk diversification and measurement, portfolio theory, statistics, programming finance models in statistical software and Excel skills.
  • Apply your knowledge to such topics as foreign currency trading and risk, interest and inflation rate models and hedging strategies. You’ll also perform statistical analysis using big data, learn about investments, financial derivatives, fixed income securities and financial institutions.
  • Take courses in corporate finance, financial modeling, programming and independent research. You can even take graduate courses outside the Finance Department to complete a customized program that fits your interests.
  • Prepare for the CFA exam with a curriculum that matches the topics on the exams, to help you prepare for that career-differentiating certification.

The MS Finance is a STEM (science, technology, engineering and mathematics) curriculum with 36 credits typically completed in three semesters. Some students extend to a fourth semester, and UB undergraduates may be able to complete the program in two semesters. All majors are welcome to apply; however, business, math, economics and engineering majors are ideally suited to the program.

Curriculum

First Semester

Fall Start Spring Start
MGF 633 Investment Management                                MGF 633 Investment Management
MGF 661 Management of Financial Institutions MGF 638 Fixed Income Securities
MGF 685 International Financial Management

MGF 641 Financial Policies and Strategy

STEM or Non-STEM Elective
(select one)
STEM or Non-STEM Elective
(select one)

Second Semester

Fall Start Spring Start
MGF 635 Financial Derivatives                               MGF 661 Management of Financial Institutions
MGF 641 Financial Policies and Strategy

MGF 685 International Financial Management

MGF 638 Fixed Income Securities

MGF 696 Portfolio Theory and Strategy

STEM or Non-STEM Elective
(select one)
STEM or Non-STEM Elective
(select one)

Third Semester

Fall Start Spring Start
MGF 696 Portfolio Theory and Strategy                          
MGF 635 Derivatives
STEM or Non-STEM Elective
(select two)

STEM or Non-STEM Elective
(select two)

Capstone Course (select one):
MGF 644 Conducting Research: Fixed Income Securities, or

MGF 645 Conducting Research: Equities
Capstone Course:
MGF 644 Conducting Research: Fixed Income Securities

Electives

You must take at least two STEM electives out of the four electives in the financial risk management (FRM) track.

STEM Electives

  • MGF 637 Financial Modeling
  • MGF 639 Security Trading and Exchange Design
  • MGF 690 Special Topics – Financial Analysis with R

Non-STEM Electives

  • MGA 604 Financial Analysis and Reporting
  • MGA 632 Financial Statement Analysis
  • MGE 602 Global Economics and the Business Firm
  • MGE 692 Special Topics in Economics
  • MGF 632 Corporate Governance, Finance and Management
  • MGF 646 Institutional Investing
  • MGF 657 Financial Innovation
  • MGF 675 Multinational Banking and Finance
  • MGF 691 Special Topics in Finance
  • One other graduate course may be approved by the program director as an elective.

Note: Not all electives are offered every semester.

Prerequisites

If your undergraduate degree is in a non-business discipline, you must have completed business courses equivalent to those below:

View course descriptions.

  • Economics (Equivalent to MGE 302)
  • Finance (Equivalent to MGF 301) 
  • Statistics (Equivalent to MGQ 301)

If you do not have a business background, but are strong in math or a quantitative discipline like engineering, we encourage you to apply for the MS Finance program. If you are conditionally admitted, you may be required to complete a preparatory curriculum in accounting, economics, finance or statistics.