MEng Certificate in Financial Engineering

Financial activity pervades all aspects of life, and proper management of risks related to finance is of paramount importance, especially since the onset of the great financial crisis that began in 2008. Modern techniques used to mitigate risk in financial investments that have been developed over the last several decades are of a very quantitative nature. Good risk management ensures that institutions (both non-profit and profit) have financial stability. The stability manifests in reliable pensions for workers, attainment of higher education for family members, better endowments for universities, and last but not least, stability for the Canadian and worldwide economies. Many researchers believe that the underlying tools and techniques are powerful enough to handle risks. As evidenced by the financial crisis of 2008, these tools and techniques are not nearly adequate. For this reason, the Department of MIE created this Certificate in Financial Engineering, to provide graduate engineers tools and techniques to better handle risk in finance and other areas.

Overview

To earn an MEng Certificate in Financial Engineering, students must take four core courses plus three elective courses or one elective course and an MEng project on a topic related to financial engineering. To receive credit for an elective course not on this list, or to inquire into possible MEng projects, please contact Professor Roy Kwon or Professor Chi-Guhn Lee.

Students are expected to have completed MAT186 Calculus I; MAT187 Calculus II; and MAT188 Linear Algebra or the equivalent of these courses in their undergraduate studies. Course descriptions are outlined on the Undergraduate Academic Calendar. Experience with programming using high level languages such as C, C++, Java, and Matlab will be useful in some courses.

*Updated Sept 21-15* we will honor the previous requirements of the Financial Engineering Certificate as well, which can be found here.

Core Courses (this list has been updated)*

Students must take four core courses:

APS502 Financial Engineering I (Formerly APS1002)
APS1022 Financial Engineering II

And two of:

MIE1605 Stochastic Processes
MIE1620 Linear Programming and Network Flows
MIE1621 Non-linear Optimization
MIE1622 Computational Finance and Risk Management

Elective Courses

Students must take three elective courses or one elective course and an MEng project on a topic related to financial engineering.

*Non-MIE courses: Subject to approval by the course home graduate department

ECO2411 Financial Econometrics*
STA2503 Applied Probability for Mathematical Finance*
MIE562 Scheduling
MIE566 Decision Analysis
MIE1603** Integer Programming (research based)
MIE1653** Integer Programming Applications (MEng based)
MIE1606 Queuing Theory
MIE1607 Stochastic Modeling and Optimization
MIE1613 Stochastic Simulation (formerly Discrete Event Simulation)
MIE1615 Markov Decision Processes
MIE1624 Introduction to Data Science and Analytics
MIE1501 Knowledge Modelling and Management
MIE1505 Enterprise Modeling
MIE1510 Formal Techniques in Ontology Engineering
APS1005 Operations Research for Engineering Management

**MIE1603/MIE1653: You may only choose to enrol in ONE of these courses, not both.