Financial Economics

Financial Economics: Introduction

​​​​​​Faculty Affiliation

Arts and Science; Management

Degree Programs

Financial Economics



The Master of Financial Economics (MFE) program is a non-thesis degree program offer​ed by the Department of Economics and the Rotman School of Management. Graduates of the program receive a professional degree called the Master of Financial Economics. The 16-month program is designed to equip talented students with the tools and skills required for successful careers in the financial sector. It provides students with a broad understanding of financial theory and the economic framework upon which that theory is based, both in the classroom and through actual experience working for firms in the financial sector.

Contact and Address

Telephone: (416) 978-2678

Master of Financial Economics Program
Department of Economics
University of Toronto
Room 170, 150 St. George Street
Toronto, Ontario M5S 3G7

Financial Economics: Graduate Faculty


Aivazian, Varouj - BSc, MA, PhD
Cziraki, Peter - MA, MPH, MSc, PhD
Goldman, Jim - BSc, MSc, PhD
Halberstam, Yosh - BA, MA, PhD
Hussain, Sayed - BA, PhD (Co-director)
Melino, Angelo - BA, PhD
Mondria, Jordi - BA, MA, PhD (Co-director)
Tian, Xu – BA, MA, PhD
Tsoy, Anton - PhD


Davydenko, Sergei - MSc, MA, PhD
Dyck, Alexander – BA, PhD
McCurdy, Thomas - BA, MA, PhD
Stapleton, Maureen - MBA
Wang, Kevin - BSc, MA, PhD

Financial Economics: Financial Economics MFE

Master of Financial Economics​

See amendment made on November 25, 2020.

Minimum Admission Requirements

  • Applicants are admitted under the General Regulations of the School of Graduate Studies. Applicants must also satisfy the program's additional admission requirements stated below.

  • An appropriate bachelor’s degree with at least a mid-B (75%) standing in the final year of the program.

  • Successful completion of courses in calculus, intermediate microeconomics, intermediate macroeconomics, and statistics.

  • Applicants who do not hold a degree from a Canadian university must submit an official Graduate Record Examination (GRE) General Test score or a Graduate Management Admission Test (GMAT) score. See the program’s website for details.

  • Evidence of strong communication skills, both oral and written.

  • Relevant work experience and/or previous training in finance is useful but not required.

  • Admission is competitive, so accepted applicants will normally have achieved a standing considerably higher than the minimum requirements.

Program Requirements

  • Coursework. Students must successfully a complete a total of 6.5 full-course equivalents (FCEs) as follows:

    • 0.5 FCE in ECO 1010H Mathematics and Statistics for MA and MFE Students (Credit/No Credit).

    • 2.0 FCEs from the Department of Economics. These core courses are the same as those required for the MA degree in Economics plus ECO 2503H Financial Economics I.

    • 1.5 FCEs from the Rotman School of Management: RSM 2306H Options and Futures Markets, RSM 2300H Corporate Financing, and RSM 2302H Security Analysis and Portfolio Management.

    • 2.5 FCEs in electives from either the Department of Economics or the Rotman School, subject to the condition that at least 1.5 out of the 2.5 elective FCEs must be taken from the Department of Economics.

  • Students must complete a one-session internship.

Program Length

5 sessions full-time (typical registration sequence: S/F/W/S/F)

Time Limit

3 years full-time