MSFE at Illinois ranked among top U.S. programs

9/26/2013 1:04:00 PM

In only its third year, the Master of Science in Financial Engineering Program (MSFE) program at Illinois has been ranked 20th by QuantNet, an online blog that provides rankings of financial engineering programs in the U.S.

“Our program produced its first graduates in 2011—25—and its second class of 44 in 2012,” stated MSFE director Morton N. Lane. “This is a remarkably small number for evaluating our program, so we are gratified to find ourselves ranked among much more mature programs.”

MSFE is joint program of the Department of Industrial and Enterprise Systems Engineering in the College of Engineering and the Department of Finance in the College of Business at Illinois. As a three-semester graduate degree program, the University of Illinois MSFE began accepting applications in December 2009, enrolling its first class for the fall semester 2010.

Lane noted that the financial engineering field has emerged because of the growing complexity required in describing and solving advanced business problems.

“The growth of financial engineering has been fueled by an active corporate community asset management companies—including mutual funds and hedge funds—insurance companies, and some advanced corporate treasury departments. Financial Engineers use fundamental economic principles and finance theory coupled with state-of-the-art mathematical methods, computational tools, and computer programming expertise,” Lane stated.

According to its website, the 2013-2014 QuantNet ranking is the most comprehensive ranking to date of masters programs in Financial Engineering, Mathematical Finance, and Quantitative Finance in North America. For its third bi-annual rankings, QuantNet surveyed programs administrators, hiring managers, corporate recruiters, and finance professionals.

Contact: Morton Lane, Department of Industrial and Enterprise Systems Engineering.

If you have any questions about the College of Engineering, or other story ideas, contact Rick Kubetz, writer/editor, Engineering Communications Office, 217/244-7716.