Financial Engineering

The Bachelor of Science in Financial Engineering (FE) is a multidisciplinary major that emphasizes the creation of new financial economic instruments as well as the combining of existing instruments to manage risk, create strategic business opportunities, lower costs, and access new markets. Risk management is essential in today’s highly leveraged domestic markets as well as the global business environment. Successful market, credit, and production risk management requires complex financial economic modeling and analysis.

The objective of the program is to provide students with the necessary tools to help manage a business’s financial risks.  In keeping with this objective, financial engineering majors undertake rigorous training in financial economics, engineering mathematics, and actuarial methods:

  • Mathematics similar to engineering but expanded to include more statistics and probability theory
  • Financial economics with a solid background in classical economic theory and markets (capital, commodity, and derivative)
  • Software engineering and modeling

Financial engineers are commonly employed in banking, corporate finance, securities, insurance, manufacturing, agricultural businesses, and other industries that require sophisticated financial analysis skills. To remain competitive, regional industries as well as national and international firms will employ financial engineers because of the increased complexity and sophistication of business risk management. Due to their rigorous training, the demand for financial engineering graduates is high with a forecasted growth rate of 18 to 20% annually over the next seven years, according to the Occupational Outlook Handbook. The financial engineering major is a joint program of the Department of Mechanical and Industrial Engineering and the Department of Agricultural Economics and Economics.

Freshman YearCredits
CSCI 127 - Joy and Beauty of Data4  
Choose one of the following:3  
CLS 101US - Knowledge and Community
COMX 111US - Introduction to Public Speaking (formerly COM 110US)
M 171Q - Calculus I4  
University Core Electives6  
ECNS 251IS - Honors Economics*  4
EFIN 101 - Introduction to Financial Engineering  1
M 172Q - Calculus II  4
PHSX 220 - Physics I (w/ calculus)  4
WRIT 101W - College Writing I**  3
Year Total: 17 16
Sophomore YearCredits
CSCI 132 - Basic Data Structures and Algorithms4  
ECNS 313 - Money and Banking3  
Choose one of the following:
ECNS 345 - Econ Org, Finance & Credit
EGEN 325 - Engineering Economic Analysis
M 221 - Introduction to Linear Algebra3  
M 273Q - Multivariable Calculus4  
CHMY 141 - College Chemistry I  4
CSCI 232 - Data Structures and Algorithms  4
ECNS 301 - Intermediate Micro with Calc  3
M 274 - Introduction to Differential Equation  4
Year Total: 14 15
Junior YearCredits
AGBE 467 - Quantitative Method in Ag Econ3  
ECNS 309 - Managerial Economics3  
EIND 300 - Engineering Management & Ethics3  
EIND 354 - Engineering Probability and Statistics I3  
EIND 364 - Principles of Operations Research I3  
EFIN 301 - Engineering & Economic Financial Management I  3
EIND 373 - Production Inventory Cost Analysis  3
EIND 457 - Regres & Multivar Analysis  3
EIND 464 - Prin of Operations Research II  3
Technical Elective  3
Year Total: 15 15
Senior YearCredits
ECNS 461 - Financial Econometrics3  
EFIN 401 - Engineering & Economic Financial Management II3  
EIND 468 - Managerial Forecasting & Decision Analysis3  
Technical Elective3  
Professional Elective3  
EFIN 499R - Financial Engineering Design Capstone  3
Professional Electives  6
University Core Elective  3
Technical Elective  3
Year Total: 15 15
Total Program Credits: 125

May substitute ECNS 202 Principles of Macroeconomics and ECNS 204IS Microeconomics


 Students exempt from MSU writing requirement should substitute another writing course such as WRIT 201, WRIT 221HONR 201US, HONR 202IH  

Professional Electives

BFIN 420RInvestments I3
BFIN 435Corporate Finance3
BFIN 452International Finance3
BFIN 456Financial Management for the Entrepreneur3
BFIN 458Commercial Bank Management3
BFIN 460Derivative Securities and Risk Management3
BFIN 466Investments II3
BMGT 405Supply Chain Analytics3
ECNS 314International Economics3
ECNS 320Public Finance3
ECNS 403RIntro to Econometrics3
ECNS 432RBenefit-Cost Analysis3
ECNS 490RUndergraduate Research1-3
EGEN 310RMultidisciplinary Engineering Design3
EGEN 492Independent Study1-3
EIND 425Technology Entrepreneurship3
EIND 434Project Management for Engineers3
Note: May substitute EIND 373 and ECNS 345 for BFIN 322 prerequisite, and substitute ECNS 313 for BFIN 357 prerequisite.

Technical Electives

CSCI 440Database Systems3
CSCI 446Artificial Intelligence3
CSCI 447Machine Learning: Soft Computing3
ECNS 501Microeconomic Theory3
ECNS 502Macroeconomic Theory3
ECNS 562Econometrics II3
EIND 422Introduction to Simulation3
EIND 455DOE for Engineers3
EIND 458Production & Engineering Mgmt3
EIND 477Quality Management Systems3
ESOF 322Software Engineering3
ESOF 422Advanced Software Engineering3
ESOF 522Empirical Software Engr3
M 441Numerical Linear Algebra & Optimization3
STAT 408Statistical Computing and Graphical Analysis1-3
STAT 421Probability Theory3

A minimum of 125 credits is required for graduation; 42 of these credits must be in courses numbered 300 or above.