Can you tell us a bit about your background?
BS Physics & Mathematics, Loyola University Chicago
BA Economics, Loyola University Chicago
I studied full-time in the program from 9/2008-5/2010
Did you get admitted to other programs?
Yes
Why did you choose this program (over others, if applicable)?
Flexibility. I am graduating in two years with both an MBA and MSFE because CGU has been very flexible in scheduling and allowed me to "overload" a couple semesters in addition to completing intensive courses.
Additionally I liked CGU's access to studying abroad. FE or MBA students can spend a semester in Switzerland. Additionally there are travel courses at Oxford and the Chinese University of Hong Kong. I attended the Hong Kong course and it was a blast.
Finally, CGU offered me a fellowship including 50% off of tuition for the first 16 units each semester.
Tell us about the application process at this program
Very timely. Pretty typical stuff, essay, recs, transcript, phone interview.
Does this program offer refresher courses for incoming students? How useful was it?
This course does not. The pre-reqs for CGU's MSFE program are not as high as other programs. For example you need not have taken probability before. CGU starts with very basic courses so there is no need for an additional refresher.
Tell us about the courses selection in this program. Any special courses you like?
I will only discuss the FE courses, not the courses I took additionally for my MBA.
MATH CORE (16 units)
Probability (4)
Statistics (4)
Stochastics (4)
Math Finance (4)
FINANCE CORE (16 units)
Corporate Finance (4)
Financial Accounting (4)
Financial Derivatives (4)
Asset Management Practicum (4)
Additionally students take 16 units of electives
I took Credit Risk (2), Quantitative Risk Management (2), Doing Business in Asia (this is the Hong Kong course) (4), Real Options Analysis (4), Energy Derivatives (2), Business Law (2)
Tell us about the quality of teaching
A couple of the professors have a few years experience in the "real world," but for the most part courses are not taught by practitioners. The exceptions to this are Real Options Analysis and the Asset Management Practicum which have practitioners as guest lecturers. Asset Management especially makes use of this as about 1/3 to 1/2 of the lectures are by practitioners. I saw professors and TAs multiple times for help with homework and studying. They are extremely accessible. I am now a TA myself and feel a great deal of responsibility to my fellow students. The comradery of the program is pretty strong.
Materials used in the program
Obviously Hull and Shreve.
Lando's Credit Risk Modeling
Mun's Real Options Analysis
Copeland & Antikarov's Real Options
McDonald's Derivatives Markets
Programming component of the program
There are quite a few options for programming courses but the core classes for the most part do not have any programming. Every year a student-led group does an into to C++. In the math courses there is generally one or two programming assignments in either VBA, R, or Matlab. This semester there is VBA lab to accompany the financial derivatives course. Aside from these courses, Harvey Mudd (a top math and science school) offers a number of programming/programming-based math courses that CGU students, as members of the Claremont Consortium, are more than welcome to take. I've had many friends take these courses and love them. The Mudd campus is next door to CGU so it's rather easy.
Projects
The asset management practicum involves students running a portion of the university's endowment. It requires everything from researching and backtesting strategies to a small group making a presentation to the board of trustees. Real Options required a small individual project applying real options analysis.
Career service
Very little currently. I would not go by past reviews for career services as this is a big priority among the current administration and should be changing. Call the program and ask them. They're very honest about current offerings.
Can you comment on the social interaction between students of different ethnics, nationalities in the program?
To some degree student's self-segregate, but when Thursday and Friday come around it doesn't matter what your background is, everyone's drinking and having fun together.
What do you like about the program?
The flexibility. If you don't want to be a standard cookie cutter quant then come to CGU.
What DON’T you like about the program?
The other side of the flexibility is that you are really responsible for your own future at this program. You can't sit back and do interviews on campus. You have to hustle and get things working.
Suggestions for the program to make it better
More programing in the courses and more career resources.
What are your current job status? What are you looking for?
I have a job offer for structuring and analytics in electricity markets with a large investment bank.
Other comments
It is difficult to recommend the CGU MFE program without knowing someone. If you are a real "mover" and get things done, then I really suggest CGU. You'll have a lot of personal opportunities. But if you don't feel like being creative and hustling the I don't recommend this program for you.
