From Wikipedia, the free encyclopedia
Financial engineering is a multidisciplinary field involving financial theory, the methods of financing, using tools of mathematics, computation and the practice of programming to achieve the desired end results.
The financial engineering methodologies usually apply social theories, engineering methodologies and quantitative methods to finance. It is normally used in the securities, banking, and financial management and consulting industries, or as quantitative analysts in corporate treasury and finance departments of general manufacturing and service firms.
The first quantitative finance masters program was started by Illinois Institute of Technology in 1990. Dr. Michael Ong had structured the quantitative part of this program and it was called The Masters of Science in Quantitative Finance and Masters of Science in Financial Markets and Trading. The programs were combined in 2008 and is now called Masters of Science in Finance with Financial Engineering Concentration. RISK magazine acknowledged it as the first of its kind.[1] Carnegie Mellon was second with the Masters of Computational Finance program in 1994.
Financial engineering can also refer to:
