The terms quantitative finance and financial engineering are often used interchangeably and refer to the area of finance which deals with the creation and solution of complex financial models. These models vary from the development of sophisticated derivative instruments to financial risk management. The quantitative finance major prepares students for careers in financial risk management, financial engineering, structured finance, financial modeling, investment and money management, financial analysis and portfolio management, security, and actuarial science. Students interested in quantitative finance should contact their major advisor as early as possible to insure the proper sequencing of courses is followed. Keep in mind, however, that some fields will require graduate study or further schooling of some kind.
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The core of this definition is captured by the words innovative and creative . Sometimes this innovation and creativity represents a quantum leap in our thinking. At others times, it involves a novel twist to an old idea. This is the kind of creativity involved in the extension of futures trading to a commodity or a financial instrument not previously traded in a futures pit, the introduction of a swap variant, or the creation of a mutual fund with a new focus. At still other times, it involves the piecing together of existing products and processes to fit a particular set of circumstances.