A masters degree in quantitative finance concerns the application of mathematical methods to the solution of problems in financial economics.[1] There are several like-titled degrees which may further focus on financial engineering, financial risk management, computational finance and/or mathematical finance.
In general, these degrees aim to prepare students for roles as "quants" (quantitative analysts), including analysis, structuring, trading, and investing; in particular, these degrees emphasize derivatives and fixed income, and the hedging and management of the resultant market and credit risk.
Formal masters-level training in quantitative finance has existed only since 1990. [2]
The program is usually one to one and a half years in duration, and may additionally include a thesis component. Entrance requirements are generally multivariable calculus, linear algebra, differential equations and some exposure to computer programming (usually C++) [3]; programs emphasizing financial mathematics may require some background in measure theory.