M.Sc. Financial Engineering (FE)

Karlsruhe Institute of Technology (KIT)

Application deadline: open
Tuition fee:
  • € 20,000 / Year (EEA)
  • € 20,000 / Year (Non-EEA)
Start date:
Credits: 90 ECTS
Languages:
  • English
Location:
Delivery mode: On Campus
Educational variant: Part-time

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Description

Financial engineering provides innovative solutions of pricing, hedging, trading, and portfolio management problems by employing advanced mathematical methods and computer technology.

Graduates of the Financial Engineering (FE) master program are capable of taking over executive functions in financial management. They are qualified to consider challenges in the finance sector from an engineer’s point of view and to develop and optimize innovative solutions on the basis of fundamental economic laws. Their profound understanding of complex financial products enables them to deal with the challenges of an increasingly globally acting finance sector.

Objective

Participants apply and optimize acknowledged financing theories, engineering methods, and management tools as well as mathematical and computer-aided techniques. Simultaneously, they identify the limits of economic and financial-mathematical models. Consequently, they are prepared well for careers at e.g. credit institutes, investment companies, insurance companies, consulting firms, and finance departments of big national and international industrial companies.

Focus of the Program

This Master of Science program prepares executives for leading positions in the engineering sector. Participants will be familiarized with the efficient use and implementation of pricing and risk management methods on financial derivative and fixed income security markets. Computational skills and analytical thinking are encouraged in this course.

The Financial Engineering program is specifically designed for professionals who aim for a position in:

  • Investment banking
  • risk management
  • corporate financial strategy
  • financial information systems
  • regulation
  • portfolio management
  • trading

Official Program Startings

  • Intake 2014: Sept 2014
  • Intake 2016: March 2016

Contents

5 Management Modules (MM) form the basis of all programs and provide basic knowledge in Finance, Accounting, Marketing, Project and HR Management as well as Law, so they can consider commercial consequences of business decisions.

The engineering emphasis of the program is taught in 5 additional Engineering Modules (EM) with specialization in Financial Engineering.

Finance for Executives

1. Introduction to Finance & Financial Accounting

2. Financial Accounting

3. Fundamentals of Finance

4. Case Studies

International Project Management

1. Project Management and Scheduling

2. Multi-Project Management in a Global Environment

3. Development Management

4. Intercultural Mangement

Information & Service Management

1. Information & Market Engineering

2. Service Management

3. Service Innovation

Business Strategy, Marketing and Controlling

1. Introduction to Management Accounting

2. Management Accounting

3. Marketing

4. Business Strategy

Quantitative Methods in Finance

1. Financial Econometrics

2. Stochstic Calculus & Introduction to Mathematical Finance

Stochastic & Games

1. Applied Game Theory

2. Stochastic Models & Optimization

3. Simulation & Case Studies

Fixed Income & Derivative Securities

1. Derivatives

2. Fixed Income Securities

Financial Management

1. Modern Theory of Investment

2. Corporate Financial Engineering

Risk Management

1. Insurance, Risk Analysis & Asset Liability Management

2. Credit Risk & Operational Risk

Law & Contracts

1. Decisions, Contracts, Markets & Trade

2. International Law -
The Law of Business Organizations

3. International Intellectual Property Law

Audience

Future engineering executives working in financial product-oriented service sectors. Lines of business may be e.g. investment and private banks, business investment departments, insurance companies, etc.

Requirements

In order to be admitted to our Financial Engineering master program, the following requirements have to be fulfilled:

  • Appropriate qualification for university entrance: First degree: Bachelor, master, diploma... (University, University of Applied Sciences, Cooperative State University)

The first degree should be in:

  • - Economics
  • - business informatics
  • - business mathematics
  • - industrial engineering
  • - physics

or a related subject.

  • Basic knowledge of one of the following fields is required:
  • - Micro- and macroeconomics
  • - finance or internal and external accounting

In exceptional cases other degrees may be accepted (e.g., professional experience).

  • Professional Experience: Depending on the first degree´s level (210 or 180 ECTS points), work or 1 or 2 years of practical experience in the program subject area is required. Three years of work experience are recommended. References are needed as evidence.
  • TOEFL Test: Evidence of an adequate knowledge of the English language is required, normally in the form of a TOEFL (Test Of English as a Foreign Language).
  • Interview: The last step of admission is the successful completion of the interview with the program director.

English Language Requirements

TOEFL iBT® test: 100

Work Experience

At least 3 year(s) of work experience are required.

Funding

Financial Support & Scholarships

Different options exist for financing the tuition fees for the HECTOR School.

Study Loan Partners

In case you need external founding support, the HECTOR School recommends the following fund organizations:

  • FESTO Bildungsfonds (education fund) offers financial support for special further qualification programs in close cooperation with industry. With "G-TOP" interested students are offered a package deal, which includes participation in the master program "Production and Operations Management", "Management of Product Development" or "Electronic Systems Engineering and Management", internships with network partners of FESTO Bildungsfonds and additional qualification courses by FESTO. The complete package is offered at a special rate which can by pre-financed through the FESTO Bildungsfonds. Interested participants need to apply with the HECTOR School and indicate theire interest in receiving funding by FESTO. The HECTOR School will then establish the necessary contacts. For further information, see the website of FESTO Bildungsfonds .

  • For more than five years, the "Bildungsfonds" initiative has been offering bank-independent and socially acceptable ways to finance advanced education.

HECTOR School Cooperation Partnerships

On an irregular basis, the HECTOR School offers special partnership scholarships based on cooperation agreements. Unfortunately, on such scholarships are offered at the moment.

Official Scholarship Funds

  • African Development Bank . Please apply directly to them for the scholarship only.
  • Alexander von Humboldt-Stiftung , Jean-Paul-Straße 12, D-53173 Bonn, Phone +49 (0)228/833-0, Fax +49 (0)228 / 833 - 199, E-mail info@avh.de:

    Baden-Württemberg Scholarship: The federal state supports international exchange with this scholarship. For further information please see the website of the Baden-Württemberg-STIPENDIUM or of the International Office of the Karlsruhe Institute of Technology (KIT) .

  • Banco Interamericano de Desarollo (BID) (Inter-American Development Bank IDB): 1300 New York Avenue - Washington, D.C. 20577 - USA. Not applicable for Asians and Africans.
  • British Council: 10 Spring Gardens - GB-London SW1 A2BN, UK. Please contact your British Council representative.
  • Carl Duisberg Gesellschaft e.V. , c/o Bundesverband der Deutschen Industrie (BDI), Breite Str. 29, D-10178 Berlin,´Phone +49 (0)30/2028-0, Fax +49 (0)30/2028-2602, E-mail cdgcdg de
  • Centre International des Etudiants et Stagiaires (CIES): BP 73-10, F-75462 Paris Cedex 10, France
  • Cusanus-Werk , Baumschulallee 5, D-53115 Bonn, Germany, for European Catholics.
  • DAAD , Deutscher Akademischer Austausch Dienst - German Academic Exchange Service
  • Deutsches Nationalkomitee des Lutherischen Weltbundes ,- Stipendienreferat -, Diemershaldenstr. 45, D-70184 Stuttgart, Phone +49 (0)711/2159-572, Fax +49 (0)711/2159-123, E-mail lwbdiakonie de
  • The e8 Sustainable Energy Development Scholarship Programme. The e7 Network is an international non-profit organisation of leading electricity companies from the G8 nations dedicated to efficient and environmentally sound electricity generation methods as well as human capactiy building.
  • EED - Evangelischer Entwicklungs Dienst - Church Development Service. It is an organisation of the Protestant Churches in Germany.
  • European Development Fund (EDF): Directorate-General for Development, 2000 Rue de la Loi, B-1049 Brussels, Belgium. Only applicable for candidates from countries under the Lomé Convention (now called: Cononou Agreement).
  • Evangelisches Studienwerk e.V. Haus Villigst, D-58239 Schwerte, Germany. For Protestants.
  • Foundations Online
  • Friedrich Naumann Foundation , Karl-Marx-Str. 2, D-14482 Potsdam, Phone +49 (0)331/7019-0, Fax +49 (0)331/7019-188, E-mail fnstfnst org
  • Friedrich-Ebert-Stiftung , Abteilung Studienförderung, Godesberger Allee 149, D-53170 Bonn, Phone +49 (0)228/ 883-0, Fax +49 (0)228 / 883 - 697, E-mail pressefes de
  • Fritz Thyssen Stiftung , Am Römerturm 3, D-50667 Köln, Phone +49 (0)221/ 277496-0, Fax +49 (0)221 / 277496 - 29, E-mail ftsfritz-thyssen-stiftung de
  • Fulbright-Kommission , Oranienburger Str. 13-14, D-10178 Berlin, Phone +49 (0)30/28444-3, Fax +49 (0)30/28444-42, E-mail fulkomfulbright de
  • Gottlieb Daimler- und Karl Benz-Stiftung , Dr.-Carl-Benz-Platz 2, D-68526 Ladenburg, Phone +49 (0)6203/1092-0, Fax +49 (0)6203/1092-5, E-mail infodaimler-benz-stiftung de
  • Hanns Seidel Foundation , Lazarettstraße 33, D-80636 München, Phone +49 (0)89/1258-0, Fax +49 (0)89/1258-356, E-mail infohss de
  • Heinrich-Böll-Stiftung , Rosenthalerstraße 40/41, D-10178 Berlin, Phone +49 (0)30/28534-0, Fax +49 (0)30/28534-109, E-mail infoboell de
  • International Education Financial Aid (IEFA)
  • IPSWaT - Programme of the BMBF - Bundesministerium für Bildung und Forschung/Federal Ministry of Education and Research
  • KAAD Katholischer Akademischer Ausländer-Dienst - Catholic Academic Exchange Service. Hausdorffstraße 151, D-53129 Bonn, Germany. For Catholics mainly from Ethiopia, Ghana, Kenya, Zimbabwe and also from Benin, Tanzania, Uganda, Zambia. Please send curriculum vitae, degree or professional diploma and academic transcripts, description of church-based social activities to: Dr. Thomas Scheidtweiler, address as above. On passing the first selection procedure you will receive the organisation's application documents. Submit these to your local or regional representation of KAAD who will inform about you further steps.
  • Konrad-Adenauer-Stiftung e.V. (KAS): Abt. Begabtenförderung, Rathausallee 12, D-53757 St. Augustin, Germany. For nationals from all countries. Applicants from Latin America, Asia and Africa are requested to apply at their respective local or regional KAS offices.
  • Minerva Foundation , Gesellschaft für die Forschung mbH, Hofgartenstr. 8, D-80539 München, Phone +49 (0)89/2108-0, Fax +49 (0)89/2108-1451
  • Ökumenisches Studentenwerk (ÖSW): Girondelle 80, D-44799 Bochum, Germany. Phone +49 (0)234/93882-0. For Protestant applicants from developing countries. Please contact your local or regional representation of ÖSW. Stipulations: connection to a church-based organisation or NGO; firm intention of returning to home country after studies abroad.
  • Organization of American States (OAS), Washington, D.C. 20006, USA. Only applicable for candidates from OAS member states.
  • Otto Benecke Stiftung e.V. Kennedyallee 105-107, D-53175 Bonn, Phone +49 (0)228/8163-0, Fax +49 (0)228/8163-300, E-mail postobs-ev de
  • Studienstiftung des Abgeordnetenhauses von Berlin , Niederkirchnerstr. 5, D-10111 Berlin, Phone +49 (0)30/2325-2005 Fax +49 (0)30 / 2325 - 2008, E-mail studienstiftungparlament-berlin de
  • Südosteuropa-Gesellschaft - Southeast Europe Association , Widenmayerstraße 49, D-80538 München, Phone +49 (0)89/212154-0, Fax +49 (0)89/2289469, E-mail infosouthease-europe-association com
  • UNDP (United Nations Development Programme): 1, United Nations Plaza, New York, N.Y. 10017, USA.
  • UNESCO (United Nations Educational, Scientific and Cultural Organisations): 7, Place de Fontenoy, F-75700 Paris, France. Publishes a handbook "Study Abroad".
  • Union der deutschen Akademien der Wissenschaften Geschwister-Scholl-Straße 2, D-55131 Mainz, Phone +49 (0)6131-2185-0, E-mail infoakademieunion de
  • VolkswagenStiftung , Kastanienallee 35, D-30519 Hannover, Phone +49 (0)511/8381-0, Fax +49 (0)511/8381-344, E-mail infovolkswagen-stiftung de
  • WHO (World Health Organisation): Avenue Appia, CH-1211 Geneva 27, Switzerland.
  • World Bank . Please apply directly to them and to us.
  • World University Service , Deutsches Komitee e.V., Goebenstraße 35, D-65195 Wiesbaden, Phone +49 (0)611-446648, Fax +49 (0)611-446489, E-mail infowusgermany de
  • States, ministries, universities, churches and educational organisations in your home countries or here in Germany.

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Accreditation

This program is accredited by the ASIIN (www.asiin.de)

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