Minors

Financial Engineering (minor)

Code:

SCI3086

Extent:

20–25 ECTS

Curriculum:

2022–2024

Level:

-

Language of learning:

English

Theme:

Global business dynamics

Target group:

All Aalto students

Teacher in charge:

Mikko Jääskeläinen
Ruth Kaila
Ahti Salo

Administrative contact:

Tarja Timonen

Organising department:

Department of Industrial Engineering and Management

School:

School of Science

Prerequisites:

The minor requires basic knowledge in engineering mathematics and probability theory. Bachelor-level minor SCI3034 Systems Sciences is warmly recommended.


Quotas and restrictions:

No quotas for the minor, but some elective courses may have space for a limited number of students. The minor is available for master’s level students.

Application process:

Open for all students of Aalto University. It is recommended that the student discuss the choice of courses with Ruth Kaila.

N.B.! This minor is discontinued starting from the 2024-2026 curriculum. If you have already started completing the minor, you can finish it. Notice that due to the new curriculum, 2024-2026 course offerings may also change.

Financial engineering is the application of quantitative methods to solve problems arising in the practice of finance. As a discipline, it combines financial theory and applied mathematics with the use of computational methods and tools.

Finance is becoming increasingly demanding due to the continual development of new financial products, availability of big data sets, rapid technological advances, and changes in regulation. This has created a growing demand for financial risk management and opportunities for advanced quantitative analysis.

The minor in Financial Engineering provides students with a good understanding of financial mathematics and equips them with methodological and computational skills. Thus, the students are set to pursue successful careers in banking, insurance, risk management and consulting, or to become quantitative analysts for instance in the finance departments of manufacturing and service firms.

The minor consist of 10–15 credits of compulsory core courses and 5-15 credits of elective courses from three subject areas (i) systems and operations research, (ii) computational methods, (iii) advanced topics in finance.

Core courses (10–15 cr)

Code Course name ECTS credits Period                   
Mandatory:      
TU-E2210 Financial Engineering I D 5 I-II
One or two of the following courses:
 
     
TU-E2220 Financial Engineering II D 5  III-IV
MS-E2114 Investment Science D 5 I-II

Optional courses (5-15 cr)

The credit requirement is fullfilled by completing a sufficient number of courses from the following. Any courses except those from the subject area of the student's major can be selected.

Code Course name ECTS credits Period                   

Mathematical methods (Dept of Mathematics and Systems Analysis)

     
MS-C2105 Introduction to Optimization 5 IV
MS-C2111 Stochastic Processes 5 II
MS-E2112 Multivariate Statistical Analysis D 5 III-IV
MS-E2117 Riskianalyysi D 5 III-IV
MS-E2177 Seminar on Case Studies in Operation Research (V) D 5-7 III-V
Computational Methods (Dept of Computer Science)      
Choose one of the following courses in Machine Learning:      
CS-C3240 Machine Learning D 5 I
  OR    
CS-E4710 Machine Learning: Supervised Methods D 5 I-II
CS-E4650 Methods of Data Mining D 5 I-II
CS-E4890 Deep Learning D  5 IV-V
CS-E4830 Kernel Methods in Machine Learning D  5 IV-V
CS-E5710 Bayesian Data Analysis D  5 I-II
  Any course in programming    
Selected topics in Finance (Dept of Finance) and Financial Engineering (Dept of Industrial Engineering and Management)      
TU-E2230 Machine Learning in Financial Engineering D 3-6 III-IV
FIN-A0104 Fundamantals of Investments 6 II
FIN-A0103 Fundamentals in Corporate Finance 6 I
FIN-A0105 Fundamentals in Financial Markets and Institutions 6 III
TU-EV Course with varying content related to Financial Engineering**    

* If you have completed the course MS-E2114 Investment Science, you can't choose FIN-A0104 Fundamentals in Investments as these courses are largely overlapping.

** to be agreed in advance with coordinating teacher of the minor.

Previous curricula

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