Financial economics deals with the ways to distribute funds for all purpose in an organization. Its primary focus is on different models that can be constructed by observing the different financial variables.
This master degree in finance and economics requires a bachelor degree at hand during admission. It doesn’t need you to have a bachelor degree with major as finance or economics. It requires good exposure to mathematics which will ensure that you have the necessary analytical skills. The duration of this course may be in the range of one to two years.
As the name suggests, this program will be a joint scheme between a university’s department of finance and department of economics. Since this is a master degree, you will probably be required to submit a thesis at the end of the program.
This is a pure theoretical subject and over the course of this program, you will be equipped with skills that are necessary for financial research. But the curriculum may differ in some universities that aim to prepare their students for careers in bank and other financial companies.
During the term of this course, you will theoretically learn different ways to handle risks. You will also be trained in the decision making process as you will have to deal with lots of uncertainties in future. The courseware will impart knowledge about the different economic theories and models. It will help you to understand the relationship between the various financial variables and on the ways to develop a model based on these variables.
Though the entire program is theory based, you will be allowed to test these theories through the use of statistical models. You will also learn how to implement the economic models through the use of computers. You will be needed to demonstrate your ability to research by providing a thesis at the end of your course. This thesis should feature a new model that is entirely developed by you through careful research.
This degree has some similarities with other programs including computational finance, scientific finance, etc. But the difference is that financial economics is more inclined to theoretical models while computational finance and mathematical finance are concerned with practical application.
This graduate degree can definitely help you in your career if you are into the financial research field. But, if you are more interested in practical issues, this is definitely not the course for you.