Master of science (MSc) – Applied Financial Economics

Are you seeking a challenging career in microeconomics? Would you like to learn all about using econometric methods in finance or macroeconomics? Take a look at this specialization at the crossroads of finance and economics.

Your training

• Understanding and applying theoretical and empirical models used in finance, which often take root in economics.
• Acquisition of skills to facilitate decision-making in different types of organizations: analysis and micro and macroeconomic modeling; portfolio analysis and asset valuation.
• Advanced knowledge in the use of statistical, econometric and machine learning methods for carrying out business analyses and forecasting.
• Learning programming and data analysis languages adapted to current issues.
• Personalized mentoring from professors who are renowned for their expertise and availability.

Research chairs, centres and groups

• Centre for Research on E-finance
• Centre for Productivity and Prosperity
• Institut du Québec
• Group for Research in Economics and Finance Research (GReFi)
• MacroMontréal
• Centre for Interuniversity Research and Analysis on Organizations (CIRANO)

Putting academic theory into practice

The NBI – HEC Montréal Fund provides a group of students with the opportunity to invest 5 million dollars in a multi-asset portfolio (equities, bonds, alternative investments). This is one of the largest investment funds managed by students in Canada. It’s a unique opportunity to gain hands-on experience on top of academic training.

The National Bank Financial trading room at HEC Montréal, supplied with real-time financial data and linked to the Bloomberg and Reuters information and analysis services, is like an actual trading room at a major financial institution. 

A step towards your future career

Organizations trust the expertise acquired by students of this master’s degree. This is evidenced by examples of recently proposed supervised projects.

• Analysis of the impact of economic and financial developments on an organization.
• Study of climate change risks on investment portfolios.
• Assessment of the impacts of monetary and government policies on particular firms or financial markets.
• Creation of forecasts based on econometric advancements and machine learning.
• Assessment of cybersecurity risks in financial institutions.

Your master’s degree could also serve as a springboard to a career in research. Some recent thesis topics attest to this.

• Improving the credit risk simulation methodology for corporate bonds using machine learning with covariate adaptation.
• Factor analysis of liquidity effects on the stock market.
• Incomplete information in the composition of public spending: exploring the effects on economic activities.

QTEM Masters Program: Join a world-class network!

Are you looking to develop skills in analytical and quantitative techniques to support decision-making in an international context? Spend a term at one of the institutions in the prestigious QTEM network and earn your QTEM certification in quantitative technology in economics and management.

Learn about the program and eligibility criteria

Your career outlook

Positions held by program graduates:

• Financial analyst
• Senior analyst
• Quantitative analyst
• Arbitrage advisor – bonds
• Economist

You may also be interested in this other program

• Maîtrise en gestion (M. Sc.) – économie appliquée [offered only in French]
• Master of Science (MSc) – Finance [offered in French and English]