2011-2012 Catalog 
    Jul 24, 2024  
2011-2012 Catalog [ARCHIVED CATALOG]

Master of Arts in Finance

The Graduate Program of the Robert Day School of Economics and Finance

The Robert Day School of Economics and Finance at Claremont McKenna College offers a one-year Master of Arts in Finance degree program. This unique program of study is designed to provide a premier postgraduate education in financial economics that builds on the fundamental elements of a liberal arts education as well as prerequisites similar to the undergraduate component of the Robert Day Scholars Program (Special Academic Programs  for details). Students studying in the Master’s program are designated as Robert Day Scholars and are eligible for significant levels of fellowship support toward tuition.

The graduate course of study is a rigorous and intensive ten-month program that includes coursework in corporate finance, investments, financial econometrics, asset management, financial economics, asset pricing and derivatives, and in organizations and markets, all designed to foster analytical and quantitative expertise and leading to a Master of Arts in Finance degree. Students who complete the graduate program will enter the workplace with a deep knowledge of advanced financial economics. The graduate year begins with a two-week intensive review of course work in mathematics, accounting, and financial databases to prepare all students for the fall semester coursework.

Prerequisites for the Master’s program include one year of accounting, courses in financial economics and organizational psychology, calculus (up to multivariable calculus), intermediate micro- and macroeconomics, and a course in econometrics. The program faculty will review the syllabi of courses completed outside of Claremont McKenna College to ensure academic equivalency.

The graduate program is paired with a rich co-curricular program where Robert Day Scholars attend special events on and off campus, take customized communication-focused workshops, and otherwise build on the skills and knowledge they get from the classroom.

Further information on the academic and non-academic programs for graduate students may be found in the Graduate Student Resource Guide and the Graduate Student Academic Handbook, available from the program website at: http://cmc.edu/mastersinfinance/gradstudentresources.php. and from the Admission Office at rdsadmission@claremontmckenna.edu.

Learning Goals and Student Learning Outcomes of the Master of Arts in Finance Program

Learning Goals

The learning goals of the Master of Arts in Finance program include:

  1. Building on a liberal arts education to produce leaders with strong analytical and financial decision-making skills.
  2. Ensuring that students understand the theory and application of financial economics, including how to use modern quantitative methods.
  3. Developing an understanding of the economic and institutional settings in which financial decisions are made.
  4. Developing superior oral and written communication skills appropriate for audiences of various types.
  5. Providing a solid foundation in ethical standards for financial decision makers and leaders in finance.

Student Learning Outcomes

The student learning outcomes of the program consist of:

  1. Demonstrating an understanding of the theory and practice of corporate finance from a managerial perspective.
  2. Performing financial statement analysis and corporate valuation for informing business decisions.
  3. Understanding the roles of risk and uncertainty and imperfect information in rational decision-making.
  4. Developing a thorough grounding of asset pricing and portfolio management.
  5. Demonstrating an understanding of the pricing and uses of standard derivative instruments.
  6. Demonstrating an understanding of the elements of competition, strategic positioning, and the broader context in which the firm operates.
  7. Using state-of-the-art econometric modeling tools to improve decision making.
  8. Having a working knowledge of modern financial databases and data analysis software.
  9. Presenting research and analysis in a logical and coherent manner in both oral and written communication.
  10. Being able to identify and analyze ethical issues in business and finance and having a sense of responsibility to society.

Application Information for the Master of Arts in Finance Degree

The application process for the Master of Arts in Finance program allows students to showcase themselves and we expect all admitted students to be exceptional. The application includes a written application, short essays, an official transcript from the student’s undergraduate college, a resume, two letters of recommendation, and submission of GMAT or GRE test results. Quantitative scores on these graduate exams are expected to be high (90th percentile). Assessment of leadership potential and interpersonal skills is important and interviews are an integral part of the admission process. Applications are decided on in stages, so that students may submit applications and be assured of a decision by a specific date. More details are available at the program website.

Post-baccalaureate Program for Students Admitted to the Master’s Program

To facilitate the admission process for the Master of Arts in Finance Program, Claremont McKenna College offers a post-baccalaureate program for students who have earned an undergraduate degree and have been provisionally admitted to the Master’s program, pending successful completion of (some of) the required prerequisites for the master’s program.

Post-baccalaureate students may attend Claremont McKenna College for up to one year prior to enrollment in the master’s program. Students may not co-enroll in the post-baccalaureate program and the master’s program.