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MSCF: better by design“Carnegie Mellon is a small researchuniversity that cannot afford barriers betweendepartments. We do not do everything, but thethings we choose to do, we do very well.”STEVEN SHREVEProfessor of Mathematical Sciences and MSCF Co-FounderMSCF Steering CommitteeA DEGREE OF DIFFERENCEWhile the terms quantitative finance, computationalfinance, mathematical finance and financialengineering are often used interchangeably, it’simportant to note subtle, but significant differencesin meaning. Some programs emphasize finance andfinancial markets at the expense of more rigorouscomputing and quantitative skills. Others focuson mathematics at the expense of real-worldapplication. Carnegie Mellon’s MSCF degree deliversa well-balanced and carefully coordinated mixof applied finance courses, along with quantitativedepth and computation.Carnegie Mellon’s intensive, 16-month Master of Science in ComputationalFinance (MSCF) is considered by many to be the top quantitative financeprogram in the country. The success and reputation of our hundreds ofgraduates on Wall Street, in London and elsewhere worldwide confirm ourintegrated approach.CAMPUS-WIDE, FULL-TIME COMMITMENTFrom the start, Carnegie Mellon designed its quantitative finance program as a fully integratedand cohesive venture. Four colleges joined together to create and deliver a customized course ofstudy, tailor-made for the computational finance student. For example, Stochastic Calculus forFinance draws from current practice in the financial services industry and is designed specificallyfor the MSCF program. The same is true for courses such as Optimization in Finance, StatisticalArbitrage, Simulation Methods of Options Pricing, and Linear Financial Models.You will learn financial mathematics, statistics, computing and finance from full-time faculty,teaching within their respective disciplines and research interests. Many of our faculty gainbroad industry and market exposure through consulting engagements with leading financialservice firms.4Carnegie Mellon MSCF ITepper School of Business IDepartment of Mathematical Sciences IDepartment of Statistics IH. John Heinz III School of Public Policy and Management
overviewDo your MSCF homeworkTepper School of BusinessDepartment of Mathematical SciencesNot all quantitative finance degrees deliver the same value.> Is the program isolated in one department and top heavy in math or finance?> Will you benefit from a custom-tailored curriculum that is designed specificallyfor the program?> Will you benefit from full-time faculty teaching in their areas of researchinterest?> Will you benefit from a program with many years of experience in shaping itscurriculum and career success of its students?> Will you experience a program nationally recognized as an innovator withinthe industry?mscfDepartment of StatisticsH. John Heinz III School of Public Policy and ManagementA campus without bordersInterdisciplinary programs such as MSCF flourish at Carnegie Mellon for severalkey reasons:> Our small size facilitates faculty interaction. Faculty from a range of disciplinesare encouraged to reach outside their own departments.> Academic deans actively seek out new opportunities to match departmentalstrengths with an academic complement from another school.> Incentives align with this collaboration, rewarding the broader scope ofscholarly work and research, not narrow departmental goals.I www.cmu.edu/mscf 5
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