Benefit from a balanced curriculum that combines our Financial Analysis program with our Quantitative Risk Management program to deliver the resources to pursue both CFA and FRM credentials. You’ll learn how to analyze evolving global market opportunities, gain insight into complex derivative products, and discover how to drive today’s financial services industry—and you’ll gain the support to develop your ideal professional path.

Finance Academy

Kick off the Master of Science in Financial Analysis and Quantitative Risk Management with a boot camp-style session where you’ll set the groundwork for the rest of program. Complete the first four courses of your degree, meet and mingle with peers from other finance master’s programs, and place yourself at the same starting line as your classmates.

  • Takes place in August before the semester begins.
  • Complete four credits over the course of two weeks.
  • Includes Corporate Finance, Financial Accounting, Derivative Markets, and Fixed Income courses.
  • Second year of the program includes an abbreviated Finance Academy session in Stochastic Calculus.

Timeline & Schedule

Program Start

Fall semester (August)

Program Duration

Students on the full-time track will complete the program within 22 months; students on the part-time track will complete the program in about three years.

Course Format

Courses are held in-person. Students will take courses at Alter Hall on Temple University’s Main Campus.

Course Times

Full-time students take day and evening courses on weekdays; part-time students take evening courses on weekdays.

CFA and FRM Exam Prep

The program offers a curriculum that accounts for the CFA Exam Levels I – III and the FRM Exam Parts I and II, with study packages and time to pursue both exams built into the course schedule.

Curriculum Full-Time

Year 1

Finance Academy (August)

FIN 5602 Corporate Finance (1 credit)FIN 5603 Financial Accounting (1 credit)
FIN 5604 Derivative Markets (1 credit)FIN 5605 Fixed Income (1 credit)

Fall I (Aug-Sep)

FIN 5675 Professional Development (1 credit)FIN 5612 Asset Pricing (1.5 credits)
FIN 5618 Corporate Value Management (1.5 credits)FIN 5671 Financial Analysis I (1.5 credits)

Fall II (Oct-Nov)

FIN 5601 Financial Technology (0.5 credit)FIN 5615 Data Science in Finance (1.5 credits)
FIN 5627 Financial Econometrics (1.5 credits)FIN 5628 Global Economy (1.5 credits)

Optional: November CFA® Level I

Spring I (Jan-Feb)

FIN 5632 Investment Management (1.5 credits)FIN 5637 Applied Corporate Finance (1.5 credits)
FIN 5648 Quantitative Portfolios (1.5 credits)

Spring II (Mar-May)

FIN 5638 Behavioral Finance (1.5 credits)FIN 5647 Financial Reporting & Analysis (1.5 credits)
FIN 5672 Financial Analysis II (1.5 credits)

Optional: August CFA® Level II

Year Two

Finance Academy (August)

FIN 5607 Stochastic Calculus (1 credit)

Fall I (Aug-Sep)

FIN 5614 Cont. Time Finance (1.5 credits)FIN 5619 Quant Fixed Income (1.5 credits)
FIN 5673 Fin. Risk Management I (1.5 credits)

Fall II (Oct-Nov)

FIN 5601 Financial Technology (0.5 credit)FIN 5624 Numerical Methods (1.5 credits)
FIN 5629 Value at Risk (1.5 credits)

Optional: Nov FRM Part I

Spring I (Jan-Feb)

FIN 5631 Financial Time Series (1.5 credits)FIN 5634 Stochastic Volatility (1.5 credits)
FIN 5639 Quant Risk Modeling (1.5 credits)

Spring II (Mar-May)

FIN 5622 Machine Learning in Finance (1.5 credits)FIN 5646 Frontiers in Quantitative Finance (1.5 credits)
FIN 5649 Enterprise Risk Management (1.5 credits)FIN 5674 Fin. Risk Management II (1.5 credits)

Optional: May FRM Part II & June CFA® Level III

Courses in Our Program

This course teaches specialized financial software, financial market databases and quantitative financial tools. Financial Technology may be repeated up to one credit hour.

This course reviews economic principles governing financial markets and corporate management and develops financial analysis skills. Topics include capital budgeting and cost of capital.

This course reviews the practice of financial accounting and develops skills in analyzing financial statements. Topics include financial reporting quality and International standards.

This course covers global exchange-traded and over-the-counter futures, options and swap instruments and financial applications. Topics include option investment strategies and structured swap applications.

This course examines the features and trading behavior of global fixed income markets. Topics include features of debt securities, bond valuation, interest rate risk immunization and foreign exchange.

This course covers the mathematical foundations of stochastic calculus with financial applications. Topics include Brownian motion, stochastic integrals and stochastic differential equations.

This course examines the relationship between financial risk and rates of return. Topics include equilibrium and empirical approaches to asset pricing and international asset pricing.

This course covers continuous-time financial theory and option pricing methods. Topics include risk-neutral pricing and equilibrium asset pricing.

This course explores the tools and techniques of data mining to extract useful information from large financial data sets. Topics include data cleaning, data visualization and back-test strategies for financial market insights and trade ideas.

This course examines the drivers of firm value and develops financial statement analysis skills. Topics include free cash flow valuation, industry analysis and valuation in emerging markets.

The course covers the mathematics driving fixed income markets. Topics include term structure modeling, interest rate immunization and fixed income derivatives.

This course examines machine learning techniques for exploring relationships between financial economic variables and making trend-based predictions. Topics include unsupervised learning and supervised learning algorithms for financial market trading insights and signals.

This course examines numerical lattice, Monte Carlo and finite difference methods for pricing vanilla and exotic options. Topics include implied trinomial trees and variance reduction techniques.

This course examines linear regression and time series models with applications to corporate finance and investments theory. Topics include Interpreting regression coefficients and estimating correlation and volatility using GARCH models.

This course examines global macro-economic conditions. Topics include monetary and fiscal economics, economic indicators, the European Monetary Union and the causes of financial crises.

This course examines advanced quantitative methods for estimating the risk of financial loss and risk management applications. Topics include scenario analysis, incremental risk and VaR back testing techniques.

This course teaches methods for analyzing time series data and for forecasting future events. The course offers a mix of financial data analysis together with statistical theory.

This course explores portfolio management for individual and institutional investors. Coursework includes formulating a strategic equity and fixed income asset allocation strategy.

This course examines alternative models of implied volatility and model calibration to observed market data. Topics include the term structure of volatility and jump diffusion models of the volatility smile.

This course examines corporate financial restructuring and mergers and acquisitions. Topics include leveraged buyouts, industry capital structure and corporate governance.

This course examines insights of efficient market theory and behavioral finance for the historical pattern of asset prices. Topics include bubbles, momentum and limits to arbitrage.

Seminar in selected classic and evolving industry methods and applications of quantitative finance.

This course examines advanced financial accounting practices, theory, and issues. Topics include employee compensation, multinational operations and financial reporting quality.

This course examines portfolio management based on quantitative techniques versus fundamental valuation methods. Topics include statistical arbitrage and computer-based models for trading.

This course covers the analysis and development of a best in practice enterprise-wide risk management system. Topics include corporate risk tolerance and strategic risk and capital management issues.

This course explores the CFA Program’s CFA Level I Candidate Body of Knowledge: ethical and professional standards, quantitative methods, economics, financial reporting, corporate finance, equity investments, fixed income, derivatives, alternative investments and portfolio management.

This course continues the examination of the CFA Program’s CFA Level I & II Candidate Body of Knowledge emphasizing the application of investment tools and concepts in asset pricing.

This course explores the FRM Program’s Part I Curriculum covering the tools used to assess financial risk: quantitative analysis, fundamental risk management concepts, financial markets and products, and valuation and risk models.

This course continues the examination of the FRM Program’s Part I & Part II Curriculum focusing on the application of financial risk management tools.

This course examines the importance of professional growth. Topics include career development goals, effective professional communication, leadership and management skills and ethical issues in finance.

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