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Master of Science in Finance

Curriculum

This 16-month, full-time program is delivered over four terms. It offers two areas of specialization: Investment Management and Risk Management.

The Investment Management stream focuses on financial instruments, financial markets and finance theory. The Risk Management stream allows students to delve deeper into credit, market and operational risk. All students are exposed to fundamental finance theory and practice, as well as learning practical programming skills in C++, VBA and Matlab.

If you wish, you can also join the Student Investment Advisory Service (SIAS) Fund team to put your new skills and knowledge into practice.

These online introductory courses begin in mid-July and run for four weeks.They require three to four hours work per week. You will complete the second part of these courses content in class during the Fall 2019 semester.

Mathematics for Computational Finance

Part 1: Review the mathematical tools essential for the study of finance, including linear algebra, differential equations and optimization.

Statistics for Financial Economics

Part 1: Review elements of probability and statistics employed in finance, including probability models, inference and basic time series analysis.

Mathematics for Computational Finance

Part 2: Complete the 2nd half of the class in-person and enhance your understanding of the content learned online in the study of finance, including linear algebra, differential equations and optimization.

Statistics for Financial Economics

Part 2: Complete the 2nd half of the class in-person and enhance your understanding of the content learned online about the elements of probability and statistics employed in finance, including probability models, inference and basic time series analysis.

Financial Modeling Tools

To gain an understanding of the merits of an investment, thorough mathematical analysis is often required. This course provides an introduction to two commonly used software programming languages used for such analysis. The course concentrates on programming using VBA (Visual Basic for Applications) and MATLAB. A short discussion of an object oriented language (either Java or C++) will be given if time permits near the end of the semester. A heavy emphasis is placed on hands-on laboratory sessions and practice problems drawn from a variety of topics covered in other MSc courses such as linear regression, asset allocation and option pricing.

Financial Economics I

This course covers the idea of no arbitrage, which is one of the most important concepts defining Financial Economics. The first part of the course describes different situations in which no-arbitrage is used for pricing of securities. The second part of the course builds on no arbitrage in developing the models and results generated by portfolio theory. The third part of the course includes theories on capital markets and corporate finance, as well as their implications.

Derivative Securities I

This is a course on derivative securities, such as options, forward contracts, futures contracts and swaps. The focus will be mainly on hedging, replication and pricing. Student will have a better understanding of derivative securities. In particular, create positions involving derivatives which achieve given objectives, understand the logic as well as the limitations of several pricing models. Students are taught to calculate (or use software to calculate) the values of selected derivatives, implement dynamic (eg daily) “delta hedging” and understand how the “Greeks” can be used to control risk.

Equity Security Analysis and Portfolio Management I

Learn about the valuation of equity securities, including company and industry analysis, financial statement analysis and valuation models.

Financial Econometrics

Financial econometrics is the intersection of statistical techniques and Finance. It provides a set of tools that are useful for modeling financial data and testing theoretical models in Finance. All the topics introduced in this course will require a deep understanding of regression and hypothesis testing with the emphasis on Finance related questions.

Fixed Income Security Analysis and Portfolio Management

This course will introduce students to various common structures of fixed income securities and interest rate derivatives. It will demonstrate how to value these securities and derivatives and measure their sensitivity to systematic factors.

Derivative Securities II

(Risk Management stream only)

This is the second graduate course on derivative securities. Compared to Derivative Securities I, the course offers more breadth and depth with coverage of additional contracts and continuous-time methods. The emphasis is on the use of analytical methods for valuation, replication and hedging.

Market Risk Management

(Risk Management stream only)

Students will investigate Value at risk (VaR) and coherent measures of risk, including their advantages and shortfalls. While the course provides a broad overview of risk measurement and management concepts, students will take the time to fully examine actual risk measurement tools and methods using market data.

Portfolio Theory and Asset Pricing

(Investment Management stream only)

This course covers the theory and empirical evidence relevant for investing, particularly in the context of portfolio management. (ie, Markowitz optimal allocation, CAPM, Index and multifactor models). It stresses the international dimensions of portfolio theory (ie, international diversification, optimal global portfolio selection and emerging markets) as well as issues of portfolio strategy, asset allocation and performance evaluation.

Equity Security Analysis and Portfolio Management II

(Investment Management stream only)

Study advanced valuation of equity securities, including company and industry analysis, financial statement analysis, and valuation models.

Financial Economics II

This course provides an introduction to the theory of corporate finance. The first part of the course reviews equilibrium concepts and solution techniques in game theory. The second part of the course covers topics in corporate finance. Students will be able to understand the equilibrium concepts and solution techniques of different classes of games, analyze corporate finance models and evaluate the practical implications of corporate finance models.

Numerical Methods

This course focuses on the underlying mathematics and software implementation of the fundamental analytic methods used to price equity and fixed-income derivatives. The methods will be derived theoretically and then implemented in MATLAB.

Financial Statement Analysis

This course will provide an understanding of the linkages between financial reporting, such as annual reports and prospectuses including the three principal financial statements (balance sheet, income statement and cash flow statement) and how useful information about a company can be extracted from them. Coverage includes basic and advanced principles of financial accounting and financial statement analysis along with a comprehensive conceptual framework indispensable to assist managers and financial analysts to interpret reported financial information.

Credit Risk Management

(Risk Management stream only)

Credit derivatives are the biggest financial innovations in the last 20 years. Credit risk analysis and management are of great interest to investment banks, commercial banks, traders, regulators and rating agencies. This course provides an introduction as well as an in-depth understanding of credit risk measurement and credit derivatives. The objective is to provide a practice-oriented balance between developing a sound conceptual framework and market understanding and insight.

Strategic Asset Allocation

(Investment Management stream only)

This course explores asset allocation models, including the Black-Litterman model, as well as extensions. Students will develop a good understanding of the theoretical and practical issues relating to the establishment of investment policy. The course analyzes investors’ return objectives, risk tolerance, investment horizon, tax considerations, liquidity needs and other unique circumstances.

Enterprise Risk Management

This course is designed to give students a thorough overview of the enterprise risk management (ERM) practices of financial institutions. It will survey the best practices with respect to the ERM function, including risk architecture, as well as disclosure both within the organization and regarding external communications with stakeholders.

Special Topics: Ethics and Finance

This course focuses on the centrality of reputational capital in both lowering transaction-costs and building trust. The focus on reputation capital introduces business ethics as a set of practices intended to establish the professional integrity, trustworthiness and responsibility at three levels of analysis. This course prepares students interested in key decision-making positions within the financial and banking sector with an understanding of how to identify, anticipate and work though costly ethical quandaries.

Final Project

Complete a supervised research project in the areas of risk management, investment management or a closely related field of inquiry.


Connect with our team

Our admissions team is more than happy to answer your questions so you know what you can expect before, during, and beyond your program.

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The MSc Finance program gave me the technical foundation that I couldn’t function without. I work with clients in very senior roles, and it’s important to demonstrate your technical knowledge to gain their trust.

Christine Jakshoej, MScFin

Head of Professional Services America

FINCAD

The learners I work with are 95% Indigenous, and I find that they become more interested and retain information more, when we speak and learn from an Indigenous lens. The Indigenous content integrated into the program has been very beneficial to me in terms of how I can incorporate Indigenous information into the curriculum I currently teach.

Wanda Rockthunder, EMBA IBL

Business Instructor, Saskatchewan Indian Institute of Technologies

Cree, a citizen of the Muskowekwan First Nation, Saskatchewan

My key lessons from the program were learning how to effectively frame and structure a problem or situation, manage a tight schedule, know what to prioritize and how to prioritize it, and identify core problems quickly and addressing them.

Bobby Dhillon, EMBA

Senior Vice President, Marketing & Planning

G&F Financial Group

The immediate impact of the GDBA has been a change in the way I approach my day professionally. I am equipped to make better decisions. My confidence level has been elevated significantly, and I am enjoying a new sense of optimism in my career.

Percival Chang, GDBA

Manager & Investment Funds Advisor

PH&N Investment Services

The i2I program is perfect for people like me who are deeply involved in science, and who want to look for opportunities in the business world. A program like this opens your mind and teaches you that there is another world of possibilities outside of the lab.

Elena Groppa, i2I

Postdoctoral Research Fellow in the Faculty of Medicine

University of British Columbia Biomedical Research Centre

The comprehensive simulations provided the greatest learning for me. They helped change my mindset and connect the different areas of learning into a comprehensive view of how an organization runs.

Matthew Grunert, MOT MBA

Director, IT

Avigilon

I always saw myself working beyond clinical pharmacy. I felt that I could also shine on the business side of healthcare. I knew that with my strong clinical training an MBA would help open more doors and give me the mobility I was looking for in my career.

Morenike Akinyemi, FT MBA

Senior Project Manager, Transformation Delivery

Provincial Health Services Authority

The Part-Time MBA was excellent. It gave me exactly what I expected to receive, and I think that is the highest compliment you can pay a program. It met all my expectations and provided a solid grounding in business skills and strategies.

Oliver Zihlmann, PT MBA

Director of Development and Alumni Engagement

UBC Faculty of Pharmaceutical Sciences

MSc Fin: Christine

EMBA IBL: Wanda

EMBA: Bobbie

GDBA: Percival

i2I: Elena

MOT MBA: Matt

FT MBA: Morenike

PT MBA: Oliver

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