2012-2013 Catalog 
    Oct 22, 2021  
2012-2013 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. 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, accounting, and related electives 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 financial economics. The graduate year begins with a two-week intensive review of course work in applied finance and related areas to prepare all students for the fall semester coursework.

Prerequisites for the Master’s program include intermediate microeconomics, intermediate macroeconomics, statistics, and corporate finance. In addition, econometrics is a prerequisite for students who intend to take financial econometrics. When appropriate, the admissions committee reviews 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 Robert Day School 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. Produce leaders with strong analytical and financial decision-making skills.
  2. Ensure that students understand the theory and application of financial economics, including an appreciation of the uses and limitations of available data..
  3. Develop superior oral and written communication skills appropriate for audiences of various types.
  4. Provide a solid foundation in ethical standards for financial decision makers and leaders in finance.

Student Learning Outcomes

The student learning outcomes in the required and elective courses include:

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

Application Information for the Master of Arts in Finance Degree

We expect all admitted students to be exceptional. The application includes a written application, an essay, 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.

Primary Contact: Professor Darren Filson

Master of Arts in Finance Website