Master of Finance

In many programs, these fundamental topics are a prerequisite for admission or assumed as known, and if part of the curriculum, students with appropriate background may be exempt from these.

[8][9] The program usually concludes with coursework in advanced topics — where several areas are integrated or applied — such as portfolio management, financial modeling, mergers and acquisitions, real options, and lately Fintech;[10] in some programs [11] quantitative finance, analytics, and managerial economics may also be offered as advanced courses.

[32] ERM and Applied Risk Management degrees may be offered here, [33] while more technical / mathematical programs are usually through an MQF or similar; see below.

Similar to the MSc, programs are sometimes specifically focused on Financial Planning or Banking,[35] for example, as opposed to more general coverage of finance.

[6][4] The usual requirement is a sufficient level of numeracy, often including exposure to probability / statistics and calculus.

[17] Some programs may require work experience (sometimes at the managerial level), particularly if the candidate lacks a relevant undergraduate degree.

Note that the latter Master of Commerce is often theory-centric, placing less emphasis on practice; at the same time, notwithstanding its foundational courses in business, it often shares the same electives as the MFin.

Note, however, that the treatment of any common topics — usually financial modeling, derivatives and risk management — will differ as to level of detail and approach.

A Master of Financial Economics focuses on theoretical finance, and on developing models and theory.

As regards the MSF, on the other hand, although the two programs do differ in the weight assigned to theory, there is some overlap: firstly, some MSF curricula do include a formal study of finance theory;[45][46] secondly, even where the theory is not studied formally, MSF programs do cover the assumptions underpinning the models studied (at least in overview); thirdly, many financial economics programs include coverage of individual financial instruments, corporate finance and portfolio management, although this treatment is usually less practical.

[6] Likewise, several programs have curricula aligned with the FRM / PRM,[52][46] or the CAIA[53] (note that the so-called "Indian C.F.A."