Master of Science in Finance (MSF) Curriculum
A Flexible, Career-Focused Finance Curriculum
The Master of Science in Finance (MSF) is a broad and flexible graduate program in finance. The MSF program is designed to be a 3-semester residential program. The curriculum consists of required courses and elective courses. Students need to complete a minimum of 40 graduate level credits, at least 28 of which, including preparatory and required classes, are in Finance.
Quick Facts
- 40 total graduate credit hours required
- 10 credit hours of required finance courses
- 28 credit hours of finance electives
- 2 credit hours of professional development
- 0–10 preparatory course credit hours
- ESL courses as required
- Flexible curriculum tailored to student background and career goals
Preparatory Courses
Preparatory courses: MSF students come from a variety of academic backgrounds and do not necessarily have prior training in business or finance. Students who need to strengthen their foundational knowledge in key areas can take preparatory courses during their first semester. We offer four preparatory courses in both the fall and spring semesters: accounting (FIN 504), finance (FIN 500), Python programming (FIN 558), and statistics (FIN 502).
Required Courses
The program is focused on providing a flexible set of classes for students to tailor to their own specific career aims. There are only three required courses in the program:
FIN 501 Financial Economics
- FIN 501 Financial Economics - 4 Credit Hours Firms’ long-run value ultimately depend on their business fundamentals. This course covers micro- and macro-economic drivers of such fundamentals, such as consumer demand, market competitiveness, government regulation, interest rates, business cycles, and monetary policy. Also includes topics in risk and intertemporal decision-making. 4 Credit Hours
FIN 511 Investments
- FIN 511 Investments - 4 Credit Hours Introduction to investment analysis, including the theory and implementation of portfolio theory, empirical evidence on the performance of financial assets, evaluation of portfolio investment strategies, and the extension of diversification to international markets. 4 Credit Hours
FIN 581 Professional Development OR FIN 585/586 MSF Academy
FIN 581 Professional Development
Effective communication skills are one of the most sought-after traits of business leaders across industries and throughout the world. Understanding the world around you, as well as communicating clearly and persuasively is critical to your success as a student, as an employee, and as a leader in the business world. These skills will help establish your own credibility and lead you to become an effective leader among your peers and colleagues. This course will introduce successful strategies for structuring both written and verbal communication in the business world, with an eye toward the specific outcomes listed below. 2 Credit Hours
FIN 585/586 MSF Academy
The primary course objective is to foster students’ understanding and articulation of common industry practices, pertinent issues, and the students’ own experience and coursework that prepares them to perform professional activities in their fields of interest. Students will use their own research to assess initial and future areas for development towards their readiness to attain entry level roles and support career progression. Additional objectives include ongoing awareness of current industry issues, events, and practices, enhancing career placement related skills, and setting a foundation to build and maintain a network of industry participants. 2 Credit Hours
Specializations
The MSF program offers courses in the following areas of finance: asset management, corporate finance, data analytics and fintech, quantitative finance, and finance research. Students can specialize in one of these areas by following a specialization track. By specializing in a specific area of finance, students become more marketable to employers in that area. A minimum of 16 credits of courses in any chosen area is needed to be awarded a specialization.
Asset Management Specialization
Asset Management Specialization
Prerequisite Elective: FIN 511 Investments
Capstone Elective: FIN 589 Applied Portfolio Management
Other Electives: (At least 8 credit hours required)
- FIN 512 Financial Derivatives
- FIN 515 Fixed Income Portfolios
- FIN 518 Financial Modeling
- FIN 535 Wealth Management
- FIN 546 Real Estate Investment Financial Markets
- FIN 551 International Finance
- FIN 552 Applied Financial Econometrics
- FIN 580 ESG Certification
- FIN 580 Private Equity/Venture Capital
- MCF Middle Market Capital Finance
Corporate Finance Specialization
Prerequisite Elective: FIN 521 Advanced Corporate Finance
Capstone Elective: FIN 522 Cases in Financial Strategy
Other Electives: (At least 8 credit hours required)
- FIN 518 Financial Modeling
- FIN 526 Investment banking
- FIN 527 Mergers & Acquisitions Topics
- FIN 529 Applied Financial Analysis
- FIN 530 Foundations in Risk Management (2 credit hours)
- FIN 536 Banking and Financial Regulation
- FIN 551 International Finance
- FIN 552 Applied Financial Econometrics
- FIN 580 Entrepreneurship thru’ Acquisition (2 credit hours)
- ACCY 517 Financial Statement Analysis & Valuation
Finance Research Specialization
Prerequisite Elective:
Capstone Elective:
Other Electives: (At least 8 credit hours required)
Quantitative Finance Specialization
Prerequisite Elective: FIN 512 Financial Derivatives
Capstone Elective: FIN 513 Applications of Fin. Engineering
Other Electives: (At least 8 credit hours required)
Data Analytics and Fintech Specialization
Prerequisite Elective:
- FIN 503 Quantitative Finance II (2 credit hours)
- FIN 559 Advanced Python for Finance (2 credit hours)
Capstone Elective:
Other Electives: (At least 8 credit hours required)
Concentrations
A concentration is an extension of a graduate major comprised of a coherent set of courses some or all of which count toward the major. Students must take a minimum of 12 credits of the required courses in order to earn a concentration.
The MSF offers three concentrations. Unlike the specialization, the concentration will appear on your final transcript
Need more experience on your resume?
The MSF Practicum is your opportunity to work as a member of a 4-5 person team on a short-term finance consulting project at a sponsoring corporation for a semester long project during the Fall semester (for students in their third and final semester). The projects are structured so that a finished product is delivered to the sponsor at the end of the Practicum. Each student team is assigned a faculty mentor on campus as a resource and backup support.
The practicum is a win-win program. You gain valuable experience and have an opportunity to significantly impact a company. Corporate partners see the practicum project as an opportunity to use talented, external manpower to tackle a project that requires specialized insight or tools. They also use the practicum as a chance to see your work on the job as a potential future employee.
Past Participants
We’ve worked with a number of companies to provide valuable insight to corporate projects:
- Alvarez & Marsal
- Andes Capital
- AON Corporation
- Axis Reinsurance
- Brown, Gibbons, Lang & Co.
- Busey Bank
- CNA Surety
- Cozad Asset Management
- DHC Capital Management
- Duff & Phelps, LLC
- Eco Craps
- Edward Jones
- Equity International
- Gerald Auto Group
- GLE L.L.C.
- Guy Carpenter
- Illinois Holocaust Museum
- John Deere & Company
- Lake Capital
- Latin School of Chicago
- Lockton Companies
- Marsh
- Mobile Mini
- Motorola
- PLITEK
- Renewable Energy
- Sam’s Club
- Servant Financial
- Sterling Wealth Management
- Stifel Nicolaus
- Strategic Wealth Partners
- The Surety and Fidelity Association of America (SFAA)
- Traeger Grills
- University of Illinois Capital Financing
- University of Illinois Foundation
- Walgreen
- Wayne Hummer
Ready to take the next step?
Build your future in data-driven decision-making with the Master of Science in Finance at Gies College of Business.