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) 978-8623

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


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​

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.

  • Applicants must have completed or must be in the final year of an appropriate bachelor's degree program from a recognized university, with a B+ standing in the final year of that program.

  • Strong preparation in economics, including full-year courses in intermediate-level micro and macro theory, and full-year university-level courses in each of calculus and statistics.

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

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

Achievement of the minimum requirements does not guarantee acceptance into the program. Preference is given to students who have completed, with high standing, advanced-level courses in any or all of economics, mathematics, and econometrics/statistics.

Program Requirements

Students must complete:

  • an intensive mathematics, statistics, and accounting review.

  • 6.0 full-course equivalents (FCEs) or 12 half courses as follows:

    • 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 drawn from the second-year MBA-level courses to provide students with training in key areas of finance. These core courses are: RSM 2306H Options and Futures Markets, RSM 2300H Corporate Financing, 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 may choose from a long list of elective courses offered at the graduate level in Economics or the second-year MBA level (or higher) from the Rotman School, subject to availability.

  • a four-month summer internship.

Program Length

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

Time Limit

3 years full-time