Financial Economics

Program Overview

The Department of Economics, in collaboration with the Rotman School of Management, offers a full-time professional Master of Financial Economics (MFE).

The four-semester (F/W/S/F) MFE program consists of three sessions (F/W/F) of cross-disciplinary graduate-level coursework at Rotman and the Department of Economics as well as a mandatory internship at a financial institution in the summer (third) session. The MFE program’s unique academic-experiential curriculum means that MFE students:

  1. Take MBA-level courses at Canada’s top Business School (such as Corporate Financing, Options and Futures, Advanced Derivatives, Security and Portfolio Analysis)
  2. Take graduate courses at Canada’s top Economics Department (such as Financial Econometrics, Risk Management, Financial Economics)
  3. Gain real-life work experience at top financial institutions — all students must do a paid internship at a financial institution

For over two decades, the MFE program has consistently produced financiers renowned for their acumen, grit, and “fit” and has a solid track record of placing students in a wide range of careers ranging from investment banking, corporate banking, sales and trading, private equity, and asset/portfolio management to economic/strategy consulting, hedge funds, public sectors, and risk management.

​The MFE program is best suited for students with a strong quantitative background and undergraduate degree in finance, economics, commerce, math, or statistics. Due to the highly competitive applicant pool, the MFE program admits applicants on a rolling basis and strongly recommends that candidates apply as soon as possible.

Quick Facts

Domestic International
Application payment deadline MFE:




Supporting documents deadline MFE:




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

Program length (full-time only) MFE:

4 sessions


4 sessions

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

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

    • 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.

  • 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

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