Program Overview

Program Overview

The Graduate Certificate in Financial Engineering is an online program designed to help students apply knowledge of finance, economics, statistics, and data analysis to make sound financial decisions and design innovative financial instruments and risk management strategies.

Program Details

This 9-credit certificate program helps students develop foundational knowledge as a financial quantitative analyst (or "quant") with courses that focus on econometric analysis, derivative securities, and financial modeling with the goal to improve financial decision-making.

Required Courses (9 credits)

• MFE 527: Derivative Securities (3 credits) Introduces the student to the major derivative securities that are the tools in the management of financial risk: futures, forwards, swaps, and options.
• MFE 801: Econometric Analysis (3 credits) Aims to develop the basic econometric estimation and hypothesis testing tools necessary to analyze and interpret the empirical relevance of financial and other economic data.
• MFE 816: Financial Modeling (3 credits) Focuses primarily on developing spreadsheet applications and using the case method to apply decision-making procedures to real-world problems in finance areas.

Career Opportunities

You can pursue a specialized career in the investment, insurance, or banking sector as a:

• Financial engineer
• Financial investment manager
• Investment banker
• Portfolio manager
• Trading strategist
• Risk manager

Costs and Financial Aid

Graduate tuition is calculated based on the number of credits for which you register. Tuition is due shortly after each semester begins and rates are assessed every semester of enrollment.

Graduate Tuition

• 2025–26 Academic Year Rates:
  • 11 or fewer credits: $1,037 per credit
  • 12 or more credits: $12,448 per semester
• 2026–27 Academic Year Rates:
  • 11 or fewer credits: $1,048 per credit
  • 12 or more credits: $12,572 per semester

Application Instructions

To apply, follow these steps:

1. Review the admission requirements.
2. Gather your required materials, including official transcripts and test scores (if applicable).
3. Create a Penn State login account.
4. Read the application instructions and complete the application.
5. Check your application status.

Admissions Help

If you have questions about the admissions process, contact an admissions counselor.

Faculty

The program is offered in partnership with the Penn State Erie Black School of Business, which is AACSB–accredited and consistently recognized by employers for having outstanding graduates. Meet the faculty:

• Tim Krause, Ph.D.
• Xin (Jessica) Zhao, Ph.D.

Program Benefits

This program can help create opportunities in your career and give you a solid head start toward a full master’s degree. Some or all credits earned for this certificate can be applied toward the financial engineering concentration offered in the following Penn State World Campus degree program: Business Administration - MBA (Master's Degree).