Program Options

The Masters of Science in Computational Finance degree at Carnegie Mellon is a full-time program extending over three semesters. Also offered is the MSCF Math Certificate.

The Masters of Science in Computational Finance is offered at our main campus in Pittsburgh and our Financial District location in New York. Whether situated in Pittsburgh or New York, all lectures are recorded and made immediately available online to MSCF students.

  • MSCF Full-Time

    The MSCF Full-Time program is designed for students seeking to study full-time and participate in a summer internship.

    Pittsburgh and New York

    Class Size
    Our average class size is 45 full-time students in the Pittsburgh program and 45 full-time students in our New York program.

    Course of Study
    Sixteen months in duration, the degree entails three, fifteen-week semesters (divided into mini-semesters) and a summer internship. Students matriculating in August 2015 graduate in December 2016.

    Many firms hire extensively out of their summer internship programs; 98% of our full-time students participate in a summer internship.

    Most faculty reside in Pittsburgh, delivering instruction live to the New York campus via live, interactive video. Faculty teach one-third of the time in New York; one-on-one faculty-student sessions and faculty-student social events take place during these New York visits.

  • Math Certificate Program

    The Math Certificate Program offers non-degree students the ability to receive the same intensive instruction as degree students in a specific track consisting of six certificate-designated math courses. Certificate students attend the same classes as degree students and are required to perform the same coursework.

    Course of Study

    With certain exceptions, courses are offered one course per mini-semester.

    The program begins in August and takes six mini-semesters to complete; thus, students matriculating in August will graduate in December of the following year. Math Certificate students are not eligible for Career Placement Services.

    Application Process

    Application for the Math Certificate can be done online. Application requirements include:

    • Completed MSCF application
    • GRE/GMAT test score (GRE preferred)
    • Official transcripts of all academic work
    • Visa documentation
    • Cover letter including an Essay C (Statement of Purpose) in the online application


    The cost of the Math Certificate for the 2015-2016 academic year is $3,870/course ($645/unit).


    To obtain the Math Certificate, students must take at least six of the following ten courses. Required courses are identified by asterisks. Courses must be taken in the mini-semester and in the order in which they are shown below. Students who take two courses in one of the mini-semesters in which two courses are offered may, but are not required, to take courses in the other mini-semester in which two courses are offered.

    Fall 2015

    • Probability (Mini 1)*
    • Multi-Period Asset Pricing (Mini 2)*

    Spring 2016

    • Stochastic Calculus for Finance I (Mini 3)*
    • Stochastic Calculus for Finance II (Mini 4)
    • Simulation Methods for Option Pricing (Mini 4)

    Fall 2016

    • Advanced Derivative Models (Prerequisite: Stochastic Calculus II) (Mini 1)
    • Fixed Income (Mini 1)
    • Numerical Methods (Mini 2)
    • Financial Computing IV (Mini 2, requires a proficiency in C++)
    • Risk Management I (Mini 2)