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Fall 2006
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School of Accountancy

Programs

Master of Accounting (MAcc) - Finance
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The collaborative Master's program in Finance - in quantitative/mathematical finance involves the School of Accountancy and the Department of Statistics and Actuarial Science. It is the first graduate program that has been designed for students who wish to obtain a rigorous training in modern quantitative finance. This is not an Accounting program. The program has received widespread support from the financial community.

General Admission Requirements
  • Successful completion of a four-year Honours degree (or equivalent) with at least an 80% average is required. In general, applicants will be expected to have a strong background in quantitative methods. Such a background may be in mathematics, statistics, economics, engineering, physics, or any other mathematically intensive subject area. Strong communication skills are also highly desirable.
  • Students whose first language is not English may be required to provide proof of competency in English. For those taking the Test of English as a Foreign Language (TOEFL), a score of at least 600 (250 on the computerized version), with a score of 5 in the Test of Written English (TWE). (See Academic Regulations - English Language Proficiency Certification for other acceptable tests of English).
  • Three letters of reference, at least two of which must be academic references.
  • Applicants will initially be assessed by a special interdepartmental committee consisting of faculty from Accounting and Statistics and Actuarial Science. Students whose academic background does not meet the admission requirements, but who otherwise show outstanding promise for graduate work in finance, may be admitted as qualifying students. An overall average grade of B (75%) is required in all qualifying courses with no grade less than 60% in any course. Admission to the qualifying program does not guarantee admission to the Master's program. The number of courses required in the qualifying period will depend on the student's prior educational background. Interested applicants should consult with Professor Don L. McLeish, the Director of the Centre for Advanced Studies in Finance.
    Application Deadline for September admissions is February 1st.
Degree Requirements

The Master's program in Finance requires the completion of ten one-term (0.50 unit weight) courses and a Master's Research Paper over a four-term period. Students will automatically be enrolled in the Master's Research Paper during the first term of their graduate program. Normally, two academic terms (Fall/Winter) will be followed by a non-academic internship (Spring) with an industrial partner, and then one additional academic term. The graduate courses in the Finance Stream, leading to the MAcc (Finance) degree are presented below. ACC 770, 771, 772, STAT 850, 901, 902, 906, ECON 601 and ECON 621, plus one additional approved graduate level course. (Depending on prior educational background, students may substitute other graduate level courses, with the approval of their supervisor.) Candidates must obtain an overall average of at least 75% in the courses presented in fulfilment of the degree requirements.

A special interdepartmental committee consisting of faculty from the School of Accountancy and the Department of Statistics and Actuarial Science will review the record of those whose cumulative average at the end of any term is below 75% and the candidate may be required to withdraw from the program.


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