Master of Science in Computational Finance

Master of Science in Computational Finance

The globalization of markets and competition brings new complexity to business finance. Continual, rapid innovation in financial markets, instruments and institutions, demands a high level of analytical expertise for success. The Master of Science in Computational Finance is designed for students seeking to acquire the ability to understand existing financial models in a quantitative and mathematical way. The Computational Finance graduate will be able to apply these quantitative tools to solve complex problems in the areas of portfolio management, risk management, and financial engineering.Individuals with an M.B.A. degree or students currently enrolled in the M.B.A. program may have up to six of their M.B.A. courses count toward the requirements of the Master of Science in Computational Finance degree. The exact number of courses that can be double-counted in this manner depends upon the specific content and age of coursework. CURRICULUM The Master of Science in Computational Finance is a joint degree with the College of Computing and Digital Media, CDM. The degree is structured to develop financial management knowledge and proficiency. The GMAT test is required for admission for students admitted via the College of Commerce. Students admitted via the College of Computing and Digital Media may submit either GMAT or GRE test results. The TOEFL test is required for international students. Prerequisite Phase In the prerequisite phase students must complete a three course calculus sequence covering infinitesimal calculus, derivatives, integrals, Taylor series and simple differential equations. Appropriate course sequences offered by DePaul include: MAT150, 151 or MAT160, 161 or MAT170, 171Students must also complete the following two C++ courses or their equivalents: CSC 309: Object Oriented Programming in C++ (or equivalent)CSC 393: Data structures in C++ (prerequisite: CSC309)Students complete the degree by taking 13 required courses; 7 from KGSB and 5 from CDM and 1 elective. KGSB Courses

• FINANCIAL ACCOUNTING (ACC 500)

• ECONOMICS FOR DECISION-MAKING (ECO 555)

• FINANCIAL MANAGEMENT (FIN 555)

• INVESTMENT ANALYSIS (FIN 523)

• PORTFOLIO MANAGEMENT (FIN 525)

• RISK MANAGEMENT (FIN 562)

• DERIVATIVES VALUATION (FIN 662)

CDM Courses

• DATA ANALYSIS & REGRESSION (CSC 423)

• TIME SERIES ANALYSIS & FORECASTING (CSC 425)

• SCIENTIFIC COMPUTING (CSC 431) or NUMERICAL ANALYSIS (CSC 485)

• MONTE CARLO ALGORITHMS (CSC 521)

• CDM ELECTIVE And either:

• MASTER’S RESEARCH (CSC 696) or

• GRADUATE INTERNSHIP (CSC 697)

M.S.C.F. DEGREE REQUIREMENTS

Satisfactory completion of the college residency requirement.

Satisfactory completion of the 13 required courses.

Satisfactory completion of 2 CDM elective courses.

All courses for credit toward the degree must be completed within six calendar years after the candidate’s first term of enrollment in the Kellstadt Graduate School of Business. After a lapse of six years a course is expired. An expired course is not acceptable for the purpose of satisfaction of degree requirements and is not applicable to the degree without the written approval of the director of the program or the Kellstadt Graduate School of Business.

Admission

General Admission Requirements

• Completed application form and application fee

Apply online. There is a $60 application fee which may be paid with a check or money order payable to DePaul University. Online applicants may pay by credit card.

• Resume/curriculum vitae

Your professional resume should summarize your work experience and educational background. Please limit it to two pages.

• Official transcripts

Students must send official transcripts from any universities, colleges or community colleges attended. A student's application for admission is considered incomplete until all transcripts are received.

• Educational Credentials For International Students or Programs

Applicants must submit transcripts from all colleges and universities attended, including those attended but from which no credit was earned. Exceptions may be permitted for study-abroad credit when that credit is clearly defined and displayed on the home institution transcript.

• Applicants with non-U.S. educational credentials are required to submit their official educational credentials (e.g., transcripts, mark sheets, degree certificates, graduation diplomas) and evaluation fee directly to one of the three evaluation companies below:

• Educational Credential Evaluators, Inc.

• Educational Perspectives​

• One Earth International Credential Evaluation

These evaluators will then provide DePaul with a general evaluation of their studies and certified copies of their international educational credentials which will be used during admission review. Please direct any questions about required credentials to the evaluation company you have selected and not to the Kellstadt Graduate School of Business. DePaul will not accept evaluations from any other evaluation companies and will not accept any educational credentials without an evaluation from ECE, EP or One Earth.

• English proficiency

Non-native English speakers who have not completed a bachelor's or master's degree in the United States should submit scores from a recognized English proficiency test. The Kellstadt Graduate School of Business accepts results from TOEFL, IELTS and the Pearson Test of English (PTE).

• Essay Questions

Two essay questions, contained within the admission application, are required for all applicants.

• GMAT

Applicants must submit GMAT scores. GMAT information including dates, a list of test centers, and applications for the exam may be obtained at mba.com, or by contacting Pearson VUE at (951) 681-3000. The GMAT score report must come directly from Pearson VUE. A test taken more than five years prior to the date of application is not considered valid for admission purposes and would have to be retaken.

The GMAT can be waived online the following circumstances: applicants to the MBA program who have completed a J.D., M.D. or Ph.D.

• Letters of Recommendation

Applicants are required to submit two letters of recommendation. These are best received from current or previous employers. Be sure the name of the recommender and applicant name, applicant date of birth and program being applied to of interest are noted on each form.

• Interview

The Admission Committee may require applicants to schedule an interview if necessary.

Deadlines

Applications must be submitted by:

• July 1st for the Autumn Quarter

• October 1st for the Winter Quarter

• February 1st for the Spring Quarter

• April 1st for the Summer Quarter

Applicants educated outside the United States must submit their applications one month prior to the above deadlines.

The Kellstadt Graduate School of Business is made up of 162 full-time faculty, over 135 executive adjunct faculty, numerous staff people and over 2100 students. Through these pages, we will tell you about each of these groups and the vital role they play.

Since 1912, DePaul has been providing an excellent education in business. Our mission and commitment to be a leader means we change and update our programs frequently to keep pace with the dynamics of global business. We have established a tradition of excellent service to the business community of the Chicago area. There are more than 19,000 Kellstadt alumni who are making contributions around the world.

In September 1992, the Kellstadt Trust, which established the Kellstadt Center, announced a multimillion-dollar gift to the Graduate School of Business. The School, renamed " The Charles H. Kellstadt Graduate School of Business " in 1993, is one of the first 10 business schools established in the United States. Charles Kellstadt, once CEO and chairman of Sears, Roebuck and Co., was instrumental in our ability to grow and excel. The Kellstadt Graduate School of Business is accredited by AACSB International - The Association to Advance Collegiate Schools of Business. That makes us one of only a limited percentage of U.S. business schools to be recognized by this prestigious -- and standard-setting -- organization. In addition, the part-time MBA program has been highly ranked in U.S. News & World Report's "Best Graduate Schools" for more than a decade. Academic Programs The Kellstadt Graduate School of Business offers the Master of Business Administration (MBA) and Master of Science (MS) degrees. The full-time and part-time MBA degree programs offer students a well-rounded curriculum of business administration with over 35 concentrations in the area of their choice. The full-time MBA has an accelerated component that gives you the option of completing the degree in 18 months to 2 years. The MS degree programs offer a much more intensive and focused approach.

We encourage you to review all options fully to see which program is right for you.