Master Financial Engineering

Program Overview

The EDHEC MSc in Financial Engineering is a prestigious 18-month program that combines advanced financial theory with practical experience. Ranked among the top worldwide, it equips graduates with expertise in quantitative finance and prepares them for careers in trading, risk management, and investment analysis. The program features a unique blend of classroom instruction, hands-on projects, and an internship in the financial industry.

Program Outline

Degree Overview:

The EDHEC MSc in Financial Engineering is a highly selective, 18-month full-time program designed for young graduates with prior training in market finance or a strong quantitative background. It aims to provide students with a deep understanding of capital markets and expertise in quantitative finance. The program combines cutting-edge theory with hands-on experience, preparing graduates for careers in quantitative trading & structuring, quantitative portfolio & risk management, and hedge funds. The program's goal, as stated by EDHEC, is to "make an impact" on the industry and future generations by equipping students with the knowledge and competencies to change the finance landscape. The program is ranked 6th in Masters in Finance Worldwide by the Financial Times Ranking 2024 and 7th European Business School by Financial Times 2024. It's also ranked 1st for Career Services & Alumni Network in France (Master in Management ranking - Financial Times 2024). The program is taught entirely in English and includes a one-year academic program and a 4-6 month internship/work placement. The program confers a recognized BAC+5 degree with a Master's Grade, accredited by the French Ministry of Higher Education and Research.

Outline:

The program structure is divided into four phases:

July-August:

Foundation Courses + Bootcamp. Depending on the applicant's background, some fully remote and self-paced courses may be required before the on-campus modules begin in September.

• Portfolio Management: Introduces modern portfolio construction, asset pricing models, and risk-adjusted performance measures.
• Corporate Finance & Asset Markets: Provides a grounding in finance principles and tools for financial decision-making, covering key management issues in corporate finance and asset markets.
(Note: The selection committee may require specific classes or allow students to choose three courses from the list).

September-February:

Core Courses + Track Core Courses + Study Trip. Core modules include:

• Introduction to Portfolio Construction and Analysis with Python:
Blends theoretical understanding and practical application using Python.
• Economics & Policies of Climate Change - MOOC: Explores economic approaches to addressing climate change.
• Advanced Fixed Income & Credit: Deepens understanding of fixed-income markets, focusing on government bonds, LIBOR, and corporate credit.
• Advanced Derivatives: Provides an in-depth look at derivative markets, products, pricing, and hedging.
• Introduction to Machine Learning:
Hands-on introduction to quantitative modeling, machine learning, and Python implementation in finance.
• Quantitative Portfolio Management: Studies cutting-edge methods for constructing optimal equity portfolios.
• Leadership and Managerial Skills: Develops cognitive and behavioral abilities for effective management and leadership.
• Research Methodology: Covers basic concepts of academic research for the master's project.
• Continuous Time Finance: Advanced portfolio management addressing portfolio choice and asset pricing from a long-term investor perspective.
• Decentralized Finance: Blockchains & AI: Explores decentralized finance (DeFi), blockchain technology, and its applications in finance.
• Tactical Asset Allocation: Discusses models, techniques, and applications of tactical asset allocation strategies.
• Real Estate: Covers key concepts and dynamics of real estate markets, including data analysis, investment strategies, and risk management.
• Certificate Future for Finance: Introduces latest advances in finance, including risk premia, private equity performance, climate challenges, machine learning, and blockchain technology.
• Systematic Investing: Reviews quantitative techniques in asset management, focusing on currency portfolio management, systematic equity investing, and liability-driven investments.
• Enhanced Statistical Arbitrage: Reviews key concepts and techniques of statistical arbitrage, including signal generation, trading costs, execution strategies, and risk management.
• Science & Engineering of Climate Change - MOOC:
Introduces the science of climate change and mitigation technologies. Students choose a concentration:
• Quantitative Investment Solutions Track:
Liability Driven and Goal Based Investing, Factor Investing, Currency Management. Three electives are chosen from a list.
• Systematic Trading Track: Deep Learning for Finance, Quant Trading, Statistical Arbitrage.
Three electives are chosen from a list. Electives include: Structured Products, Microstructure of Financial Markets, Risk Measurement, Volatility Strategies, and Commodities & Natural Resources.

March-May:

Track Core Courses and Electives + Master Project.

Teaching:

The program uses a blended learning approach, incorporating lectures, tutorials, workshops, seminars, business games, case studies, and entrepreneurship projects. Personal performance coaching is also included, covering interviewing strategies, teamwork development, and intercultural communication skills. The program includes a study trip to London, providing immersion in a professional and cultural environment and networking opportunities. Industry experts and company visits are integrated into the curriculum.

Careers:

The MSc in Financial Engineering prepares graduates for various roles, including: Trader (Derivatives, Fixed Income, Equities, FX, Commodities, Cross-Assets), Sales (Credit, Structured Products, Fixed Income), Structurer, Quantitative Analyst, Assistant Portfolio Manager, Quant Researcher, Risk Analyst, Asset Manager, and Responsible Investment Analyst. The EDHEC Career Centre plays a significant role in boosting employability, offering personalized career coaching, training, workshops, and access to internships and job offers. The program boasts a strong alumni network and partnerships with major financial institutions. The program also leverages partnerships with GARP (Global Association of Risk Professionals), CAIA Association (Chartered Alternative Investment Analyst Association), and CQF Institute (Certificate in Quantitative Finance), enhancing its market relevance and student preparedness. The EDHEC-Risk Climate Impact Institute and Programme Corporate Partners contribute to the curriculum. The program includes optional French classes for international students.

FEES: €30,400 FEES INCLUDE: Tuition fees. Access to the EDHEC Career Centre with personal career coaching during your studies and throughout your professional career. Access, as a matriculating student, to on-campus facilities (incubator, learning centre, sports facilities, etc.). Lifetime access to the EDHEC Alumni community. Administrative fees. All of EDHEC's full-time MSc programmes are accredited by the CEFDG at master’s grade. Enrolled students are eligible for a Temporary Resident Permit (or APS for Autorisation Provisoire de Séjour) at the end of the programme.