Professionals who can frame and solve real-world problems, using evidence and quantitative analysis, are in exceedingly high demand in the United States and around the world. Our MS in Quantitative Economics blends econometrics, probability/statistics, computation, and data methods to develop macro- and microeconomic models that inform monetary and fiscal policy, labor markets, public finance, market design, and more.
Students can specialize in Quantitative Finance and gain hands-on knowledge on financial products, markets, and econometric models. Students who complete the Quantitative Finance track will be uniquely qualified for careers in portfolio management, credit risk, derivatives analysis, and similar types of roles.
Our unique quantitative focus will help you distinguish yourself from others in business, real estate, government, consulting, and NGOs. We teach the following:
- Broader scope than many applied economics programs
- Model-based quantitative analyses via simulation, computation, and estimation
- Structural mechanisms behind economic and social institutions, rather than on institutional, geographic, and historical details
Through our project-based curriculum, you will apply theoretical knowledge to real-world problems and build a portfolio to show future employers or doctoral programs. Your coursework will cover fields such as macro-labor economics, public finance, monetary policy, financial economics, and market design.
- Complex Systems: Time Series
This course provides a rigorous introduction to modeling and prediction of financial time series. The goals are to learn basic characteristics of financial data, understand the application of financial econometric models, and gain experience in analyzing financial time series.
- Data Science for Quantitative Finance
This course introduces students to building data science models for financial applications. These models will be created using reproducible data science workflows, using modern statistical programming tools and techniques. The course will first focus on obtaining data from various sources, preparing and transforming data as needed for downstream analysis, and performing exploratory data analysis. We’ll then look at the most important descriptive, predictive, and prescriptive analytic techniques for analytical financial modeling.
- Financial Economics
This course provides an overview of the theory of financial markets from an economic perspective. The major conceptual tool that is used to study these phenomena is the notion of economic equilibrium. The course will build an understanding of the role of financial markets in hedging and insuring participants against risks. It will also cover the efficiency properties of financial markets and stress the perverse equilibrium effects that less-than-perfect financial markets can have: how vulnerable they may be to self-fulfilling prophecies and (ir)rational exuberance; the possibility of financial crises, in particular of bank runs, as self-fulfilling prophecies; and whether or not financial markets transmit and spread information that some traders have privately acquired on companies, currencies and other events.
Classes are held in midtown Manhattan, giving you easy access to professional networking opportunities in some of the world's most prominent companies.
The masters in Quantitative Economics is ideal for those with backgrounds in economics, mathematics, engineering, science, or related fields looking to immerse themselves in the methodologies of business.
Our graduates have gone on to careers in the field as well as doctoral programs at the University of Rochester, the Toulouse School of Economics, and other prestigious universities. We have the resources to help you through the competitive world of PhD admissions.
- Financial Analyst
- Quantitative Analyst
- Compliance Manager
The MQE has partnered with the Paris 1 University Pantheon-Sorbonne to give selected MQE students the option to spend one semester in Paris, France, taking advanced courses in quantitative economics. In particular, MQE students will have access to the MSc in Models and Methods of Quantitative Economics 'Erasmus Mundus' (QEM). This program is run in partnership with other European universities, including Universitat Autònoma de Barcelona (Spain), IMW - Institute of Mathematical Economics of Universität Bielefeld (Germany) and Università Ca' Foscari Venezia (Italy), and attracts each year about 50 students from all over the world.