Finance (MSF)
You need a firm foundation to stay atop an ever-shifting global financial landscape. Our Master of Science in Finance (MSF) program will provide you with the understanding of financial principles and analytical skills to prepare you for a successful career.
Our curricula is closely linked to professional practice and vital industry connections. And industry leaders on our Financial Advisory Board ensure that our curriculum—and your MSF degree—remains relevant and cutting edge.
The Master of Science in Finance (MSF) also offers an Accelerated Master's Pathway for Undergraduate students to complete their Graduate studies in a fifth year. Further details of the AMP, including the suggested sequence of courses, can be found under the Curriculum tab.
Related Programs
Curriculum
Completion of the Master of Science in Finance degree requires 12 courses, with additional prerequisite courses depending on academic background.
The curriculum is divided into three sets of courses: prerequisites, required courses, and electives. The required courses are designed to develop strong analytical and modeling skills. The electives enable students to explore topics in corporate finance, risk management, and asset management. Ethical decision-making is woven throughout the program, which will help position you as a responsible leader in your organization.
Besides the traditional Master's program, the Master of Science in Finance (MSF) is also offered as an Accelerated Master's Pathway where exceptional students can complete the program in a fifth year. A suggested sequence for the AMP can be found below.
Required Courses and Electives
| Code | Title | Hours |
|---|---|---|
| Required Courses | ||
| ETHC 441N | Business Ethics | 3 |
| or ETHC 446 | International Business Ethics | |
| FINC 452 | Investment Management | 3 |
| FINC 453 | Topics in Advanced Financial Management | 3 |
| FINC 620 | Financial Mathematics and Modeling I | 3 |
| FINC 622 | Derivative Securities | 3 |
| FINC 630 | Capstone Master of Science Finance | 3 |
| Electives | ||
| Select six of the following: | 18 | |
| Financial State Analysis | ||
| International Financial Management | ||
| Management of Financial Institutions | ||
| Applied Portfolio Management | ||
| Fixed Income | ||
| Investment Banking | ||
| Interest Rate Risk Management | ||
| Credit Risk Management and Structured Finance | ||
| Valuation | ||
| Risk Analysis for Business and Supply Chain Strategy | ||
| Total Hours | 36 | |
Prerequisites
The prerequisite requirement is met if you have completed a minimum of one undergraduate course (3 credit hours) of comparable content in the prerequisite subject area within the last five years with a grade of B (or equivalent) or higher.
| Code | Title | Hours |
|---|---|---|
| Calculus | ||
| Select one of the following or an equivalent course: | 3-4 | |
| Business Calculus | ||
| Applied Calculus I | ||
| Calculus I | ||
| Principles of Micro/Macroeconomics | ||
| Select one of the following or an equivalent course: | 3 | |
| Principles of Microeconomics | ||
| Principles of Macroeconomics | ||
| Managerial Economics | ||
| Statistics | ||
| Select one of the following or an equivalent course: | 3 | |
| Business Statistics | ||
| Managerial Statistics with Artificial Intelligence (AI) | ||
| Fundamentals of Statistics | ||
| Introduction to Probability & Statistics | ||
| Introductory Accounting | ||
| Select one of the following or an equivalent course: | 3 | |
| Introductory Accounting I | ||
| Financial Accounting for Business Decisions | ||
| Business Finance | ||
| Select one of the following or an equivalent course: | 3 | |
| Principles of Corporate Finance | ||
| Financial Management | ||
Suggested Sequence of Courses
Traditional Master's Program
(Part-Time, Prerequisite(s) Met)
The below sequence of courses is meant to be used as a suggested path for completing coursework. An individual student’s completion of requirements depends on course offerings in a given term as well as the start term for a major or graduate study. Students should consult their advisor for assistance with course selection.
| Year 1 | ||
|---|---|---|
| Fall | Hours | |
| FINC 452 | Investment Management | 3 |
| FINC 620 | Financial Mathematics and Modeling I | 3 |
| Hours | 6 | |
| Winter | ||
| FINC 453 | Topics in Advanced Financial Management | 3 |
| FINC 622 | Derivative Securities | 3 |
| Hours | 6 | |
| Spring | ||
| Two (2) Elective Courses | 6 | |
| Hours | 6 | |
| Summer | ||
| One (1) Elective Course | 3 | |
| Hours | 3 | |
| Year 2 | ||
| Fall | ||
| Ethics course (ETHC 441N or ETHC 446) | 3 | |
| One (1) Elective Course | 3 | |
| Hours | 6 | |
| Winter | ||
| One (1) Elective Course | 3 | |
| Hours | 3 | |
| Spring | ||
| FINC 626 | Credit Risk Management and Structured Finance | 3 |
| FINC 630 | Capstone Master of Science Finance | 3 |
| Hours | 6 | |
| Total Hours | 36 | |
Accelerated Master's Pathway
Students can take up to 9 credit hours in the senior year with admission to the AMP. These credits are shared between the Bachelor's and Master's programs.
Sequence of Courses for Students with a BBA
BBA AMP students that take two graduate courses in the Fall may take only one graduate course in the Spring. BBA AMP students that take one graduate course in the Fall may take up to two graduate courses in the Spring. FINC 455 is the recommended course for BBA AMP students taking two Fall graduate courses and one Spring course. FINC 553 is the recommended course for BBA AMP students taking one Fall graduate course and two Spring courses. The suggested sequence below is for students who take two courses in the Fall.
| Senior | ||
|---|---|---|
| Fall | Hours | |
| FINC 452 | Investment Management | 3 |
| One (1) Elective Course 1 | 3 | |
| Hours | 6 | |
| Spring | ||
| FINC 453 | Topics in Advanced Financial Management | 3 |
| Hours | 3 | |
| Master's | ||
| Summer | ||
| One (1) Elective Course | 3 | |
| Hours | 3 | |
| Fall | ||
| FINC 620 | Financial Mathematics and Modeling I | 3 |
| Ethics Course (ETHC 441N or ETHC 446) | 3 | |
| One (1) Elective Course | 3 | |
| Hours | 9 | |
| Winter | ||
| FINC 622 | Derivative Securities | 3 |
| One (1) Elective Course | 3 | |
| Hours | 6 | |
| Spring | ||
| FINC 626 | Credit Risk Management and Structured Finance | 3 |
| FINC 630 | Capstone Master of Science Finance | 3 |
| One (1) Elective Course | 3 | |
| Hours | 9 | |
| Total Hours | 36 | |
- 1
FINC 455 International Financial Management is the recommended elective course for BBA AMP students taking two Fall graduate courses and one Spring course.
Sequence of Courses for Students with a Non-BBA
| Senior | ||
|---|---|---|
| Fall | Hours | |
| Financial Management 1 | ||
| Financial Accounting for Business Decisions 2 | ||
| Hours | 0 | |
| Spring | ||
| FINC 453 | Topics in Advanced Financial Management | 3 |
| Hours | 3 | |
| Master's | ||
| Summer | ||
| One (1) Elective Course | 3 | |
| Hours | 3 | |
| Fall | ||
| FINC 452 | Investment Management | 3 |
| FINC 620 | Financial Mathematics and Modeling I | 3 |
| Ethics course (ETHC 441N or ETHC 446) | 3 | |
| One (1) Elective Course | 3 | |
| Hours | 12 | |
| Winter | ||
| FINC 622 | Derivative Securities | 3 |
| Two (2) Elective Course | 6 | |
| Hours | 9 | |
| Spring | ||
| FINC 626 | Credit Risk Management and Structured Finance | 3 |
| FINC 630 | Capstone Master of Science Finance | 3 |
| One (1) Elective Course | 3 | |
| Hours | 9 | |
| Total Hours | 36 | |
- 1
This is a pre-requisite course for the degree. To take FINC 450, non-BBA students must take MATH 130 Business Calculus or MATH 131 Applied Calculus I. Students should also take STAT 103 or ISSCM 241 to fulfill the Quantitative Knowledge and Inquiry Core requirement.
- 2
This is pre-requisite course. Non-BBA students may also take ACCT 201 to fulfill this requirement.
Guidelines for Accelerated Master's Pathways
In Accelerated Master’s Pathways, students share limited, authorized credits between their Undergraduate and Graduate degrees to facilitate completion of both degrees in a shorter amount of time. Shared credits are Graduate level credit hours (400-level or higher) taken during the Undergraduate career and then applied both to the Undergraduate degree and towards Graduate program requirements.
Admission and Matriculation
Accelerated Master's Pathways are designed to enhance opportunities for advanced training for Loyola’s Undergraduates. Admission to these programs is competitive and will depend upon a positive review of credentials by the Graduate program. Accordingly, the admission requirements for these programs may be higher than those required if the Master’s degree were pursued entirely after the receipt of a Bachelor’s degree.
Students enrolled in an Accelerated Master's Pathway who choose not to continue to the Master’s degree program upon completion of the Bachelor’s degree will face no consequences.
Ideally, a student will apply for admission to an AMP program as they approach 90 credit hours in their Undergraduate career.
Students will not officially matriculate into the Master’s degree program and be labeled as a Graduate student by the university, with accompanying changes to tuition and Financial Aid (see below), until the Undergraduate degree has been awarded. Once admitted to the Graduate program, students must meet the academic standing requirements of their Graduate program as they complete the program curriculum.
Advising and Registration
Students in their final Undergraduate year will work with Advising in the home School of their Bachelor's program(s), as well as the Graduate Program Director of the Master’s program. Any 400-level or higher courses that the student plans to enroll in should be reviewed by both advisors to ensure that these courses will complete requirements for both degrees.
Registration in Graduate level courses during the Undergraduate year may require assistance from the Graduate Program Director and/or the student’s current academic advisor to enroll.
Shared Credits
Only courses taken at the 400-level or higher will count toward the Graduate program. At the Undergraduate level, students are restricted to enrolling in and sharing up to the number of Graduate level credits explicitly indicated in the catalog for their selected AMP program.
In general, Graduate level coursework should not be taken prior to admission into the Accelerated Master's Pathway. Exceptions may be granted for professional programs where curriculum for the Accelerated Master's Pathway is designed to begin earlier. On the recommendation of the program’s Graduate Program Director, students may take one of their Graduate level courses before they are admitted to the Accelerated Master’s Pathway if they have advanced abilities in their discipline and course offerings warrant such an exception.
Degree Requirements and Conferral
Undergraduate degree requirements are in no way impacted by admission to an Accelerated Master’s Pathway. Students should not, for example, attempt to negotiate themselves out of a writing intensive requirement on the basis of admission to a Graduate program.
The program’s Graduate Program Director will designate credit hours to be shared through the advising form and Master’s degree conferral review process. Graduate credit hours taken during the Undergraduate career will not be included in the Graduate GPA calculation.
If students wish to transfer credits from another university to Loyola University Chicago, the program’s Graduate Program Director will review the relevant syllabus or syllabi to determine whether it meets the criteria for a 400-level course or higher.
Programs with specialized accreditation requirements that allow programs to offer Graduate curriculum to Undergraduate students will conform to those specialized accreditation requirements.
Degrees are awarded sequentially. All details of Undergraduate commencement are handled in the ordinary way as for all students in the School/College/Institute. Once matriculated in the Graduate program, students abide by the graduation deadlines set forth by the Graduate program. Students in these programs must be continuously enrolled from Undergraduate to Graduate degree program unless given explicit permission by their program for a gap year or approved leave of absence. In offering the option of an Accelerated Master’s Pathway, the university is making possible the acceleration of a student’s Graduate degree completion. It should be understood that students may not request deferral of their matriculation into the Master’s degree program. If students would like to delay their Graduate studies after earning the Undergraduate degree, they may apply for admission to the traditional Master’s degree program. Any application of Graduate credit earned while in the Undergraduate program is subject to the policies of the Graduate degree granting school.
Graduate & Professional Standards and Regulations
Students in graduate and professional programs can find their Academic Policies in Graduate and Professional Academic Standards and Regulations under their school. Any additional University Policies supersede school policies.
Learning Outcomes
Our Master of Science in Finance program will provide you with specialized knowledge:
- Learn the concepts of risk and return relationship, diversification, micro and macro structure of global capital markets, and tools for stock and bond portfolio optimizations.
- Learn models and techniques for asset valuation, debt-equity decisions, real options, and cost of capital calculation.
- Learn the application of financial mathematic modeling techniques involving writing and implementing computer codes.
- Learn the concept and valuation of derivatives and their application to manage risk.
- Learn the concepts and application of responsible decision making.