Financial Economics

Program Overview

The Master of Financial Economics (MFE) program is a full-time, limited-enrolment professional program offered jointly by Canada’s top Economics Department and top business school, Rotman School of Management.

MFE is a five-semester (S/F/W/S/F) program: four semesters of coursework across Rotman and the Department of Economics, plus a one semester, full-time mandatory internship at a financial services firm.

In the program’s academic-experiential curriculum students take Rotman MBA-level courses (such as Corporate Financing, Options and Futures, Security and Portfolio Analysis) and graduate economics courses (such as Financial Economics, Macroeconomics, Microeconomics, Financial Econometrics), and get real-world work experience in a paid internship at a top financial institution.

The MFE program provides a broad understanding of financial theory and the economics framework upon which that theory is based. It has an excellent track record of placing its graduates in investment banking, corporate banking, sales and trading, private equity, asset/portfolio management, economic/strategy consulting, hedge funds, risk management and the public sector.

Best suited to the MFE program are those with a strong quantitative background and undergraduate degree in finance, economics, commerce, math or statistics. Entry is highly competitive. Applicants are admitted on a rolling basis and candidates should apply as early as possible.

Quick Facts

Domestic International
Application deadline MFE:

Summer 2024 entry



Summer 2024 entry


Minimum admission average MFE:

mid-B (75%) average in final year of Bachelor’s program


mid-B (75%) average in final year of Bachelor’s program

Are any standardized tests required/recommended? 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.

  • 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

Students must successfully complete a total of 7.5 full-course equivalents (FCEs) as follows:

  • 6.5 FCEs in coursework:

    • 0.5 FCE in ECO1010H 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 ECO1500H Financial Economics: Asset Pricing.

    • 1.5 FCEs from the Rotman School of Management: RSM2306H Options and Futures Markets, RSM2300H Corporate Financing, and RSM2302H 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.

  • 1.0 FCE: a one-session internship (FEC1000Y0; Credit/No Credit).

Program Length

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

Time Limit

3 years full-time

0 Course that may continue over a program. Credit is given when the course is completed.