Please note:

To view the Fall 2024 Academic Calendar, go to www.sfu.ca/students/calendar/2024/fall.html.

Business | Beedie School of Business Simon Fraser University Calendar | Spring 2025

Finance

Master of Science

The master of science in finance program at the Segal Graduate School equips students with the tools needed to manage investments and risk in a rapidly changing world. Designed to meet the increasing global demand for skilled risk management and investment management professionals, the program provides a unique blend of rigorous training and real-world experience. World-class researchers and visiting finance professionals combine strong theoretical finance foundations with practical applicability. Students also have an unparalleled opportunity to gain hands-on experience by managing Canada's largest student-led investment portfolio. Its assets under management are $20 million.

Applicants should also refer to the program website www.beedie.sfu.ca/MSc-Finance.

Admission Requirements

Applicants must satisfy the university admission requirements as stated in Graduate General Regulations 1.3 in the SFU Calendar. An undergraduate degree in business, commerce, economics, mathematics, physics, or other suitable quantitatively oriented programs is required. Candidates holding a professional designation such as a PRM or FRM and evidence of strong mathematics competency would also be ideal candidates. Students with a strong mathematical aptitude who have completed the graduate diploma in business administration offered by the university would be qualified for admission consideration.

Program Requirements

This program consists of course requirements for a minimum of 48 units. Students complete the core courses and choose either the investment management stream, the risk management stream, or the research stream requirements. Other graduate courses may be substituted for the courses listed at the discretion of the academic director.

Students must complete all of

BUS 579 - Professional Development (0)

Through experiential and applied learning opportunities, students will understand and experience the fundamental components of a job-search and career progression skills for securing employment and achieving career objectives. Co-curricular opportunities will compliment and build upon the learning experience, and contribute to overall development and personal branding. Graded on a satisfactory/unsatisfactory basis.

Section Instructor Day/Time Location
G200 Jan 7, 2025: Tue, 10:00 a.m.–12:00 p.m.
Jan 28, 2025: Tue, 4:00–9:00 p.m.
Jan 21, 2025: Tue, 10:00 a.m.–1:00 p.m.
Jan 28, 2025: Tue, 4:00–9:00 p.m.
Feb 4, 2025: Tue, 10:00 a.m.–12:00 p.m.
Feb 11, 2025: Tue, 6:00–8:00 p.m.
Mar 4, 2025: Tue, 10:00 a.m.–12:00 p.m.
Mar 11, 2025: Tue, 11:30 a.m.–9:00 p.m.
Mar 11, 2025: Tue, 11:30 a.m.–9:00 p.m.
Mar 18, 2025: Tue, 6:00–8:00 p.m.
Apr 1, 2025: Tue, 10:00 a.m.–12:00 p.m.
Apr 15, 2025: Tue, 6:00–8:00 p.m.
Apr 22, 2025: Tue, 4:30–9:00 p.m.
Apr 22, 2025: Tue, 4:30–9:00 p.m.
Apr 22, 2025: Tue, 4:30–9:00 p.m.
Apr 22, 2025: Tue, 4:30–9:00 p.m.
Apr 9, 2025: Wed, 6:00–8:00 p.m.
Jan 15, 2025: Wed, 4:00–9:00 p.m.
Jan 22, 2025: Wed, 3:00–6:00 p.m.
Jan 29, 2025: Wed, 6:00–8:00 p.m.
Feb 19, 2025: Wed, 3:00–6:00 p.m.
Feb 26, 2025: Wed, 6:00–8:00 p.m.
Mar 19, 2025: Wed, 3:00–6:00 p.m.
Mar 26, 2025: Wed, 6:00–8:00 p.m.
Apr 9, 2025: Wed, 2:00–5:30 p.m.
Apr 23, 2025: Wed, 6:00–8:00 p.m.
Jan 23, 2025: Thu, 6:00–8:00 p.m.
Jan 24, 2025: Fri, 2:00–3:30 p.m.
Feb 28, 2025: Fri, 5:00–9:00 p.m.
Mar 7, 2025: Fri, 6:00–8:00 p.m.
Mar 29, 2025: Sat, 8:00 a.m.–8:00 p.m.
Mar 29, 2025: Sat, 8:00 a.m.–8:00 p.m.
Mar 29, 2025: Sat, 8:00 a.m.–8:00 p.m.
Feb 22, 2025: Sat, 7:30 a.m.–6:00 p.m.
Feb 22, 2025: Sat, 7:30 a.m.–6:00 p.m.
Mar 29, 2025: Sat, 8:00 a.m.–8:00 p.m.
Mar 29, 2025: Sat, 8:00 a.m.–8:00 p.m.
Mar 29, 2025: Sat, 8:00 a.m.–8:00 p.m.
Mar 29, 2025: Sat, 8:00 a.m.–8:00 p.m.
Mar 29, 2025: Sat, 8:00 a.m.–8:00 p.m.
Apr 12, 2025: Sat, 8:30 a.m.–1:00 p.m.
Apr 12, 2025: Sat, 8:30 a.m.–1:00 p.m.
Apr 12, 2025: Sat, 8:30 a.m.–1:00 p.m.
Jan 19, 2025: Sun, 9:00 a.m.–5:00 p.m.
Jan 19, 2025: Sun, 9:00 a.m.–5:00 p.m.
Jan 19, 2025: Sun, 9:00 a.m.–5:00 p.m.
Feb 2, 2025: Sun, 9:00 a.m.–5:00 p.m.
Feb 2, 2025: Sun, 9:00 a.m.–5:00 p.m.
Jan 19, 2025: Sun, 9:00 a.m.–5:00 p.m.
Feb 2, 2025: Sun, 9:00 a.m.–5:00 p.m.
Feb 2, 2025: Sun, 9:00 a.m.–5:00 p.m.
SEGAL
SEGAL
SEGAL

SEGAL
SEGAL
SEGAL


SEGAL
SEGAL
SEGAL
SEGAL
SEGAL
SEGAL



SEGAL
SEGAL
SEGAL
SEGAL
SEGAL
SEGAL
SEGAL
SEGAL
SEGAL
SEGAL
SEGAL
SEGAL
SEGAL
SEGAL
SEGAL
SEGAL

SEGAL
SEGAL
SEGAL
SEGAL
SEGAL



SEGAL
SEGAL
SEGAL
SEGAL
SEGAL
SEGAL
SEGAL
SEGAL
BUS 700 - Orientation (0) *

Intensive program for SFU Beedie graduate students to meet each other and develop both individual and group strategies for academic success. Through experiential learning and team-building activities students develop a deeper understanding of the skills and knowledge that contribute to an effective team-based learning environment. Students will also learn about program-specific academic expectations, academic and administrative resources, and supports available at Simon Fraser University. Graded on a satisfactory/unsatisfactory basis.

Section Instructor Day/Time Location
G100 Jeffrey Yip
TBD
BUS 733 - Negotiations (2)

Negotiation is the art of and science of securing agreements between two or more parties that are interdependent and who are seeking to maximize their outcomes. The central issues of this course deal with understanding the behaviour of individuals, groups and organizations in the context of competitive situations. Graded on a satisfactory/unsatisfactory basis. Students with credit for BUS 662 or BUS 711 or BUS 757 may not take this course for further credit.

BUS 800 - Finance Foundations (3) *

Essential mathematical, computational, and accounting topics for the MSc in Finance will be covered. Topics covered include an introduction to probability theory and statistics, basic accounting concepts and financial statements, good programming practices, the use of IDEs, and the Python programming language.

BUS 802 - Corporate Finance (3)

Discusses financial decision making under uncertainty. It examines financial economics in the context of corporate finance. Prerequisite: BUS 803, BUS 806, and BUS 827.

Section Instructor Day/Time Location
G100 Steven Zheng
Jan 6 – Jan 31, 2025: Mon, Wed, Fri, 9:30 a.m.–1:00 p.m.
Vancouver
BUS 803 - Financial Data Analytics (3)

Financial data analytics for testing asset pricing models and portfolio performance measurement.

BUS 806 - Principles of Finance (3)

Topics covered include the time value of money, discounted cash flow techniques, types of financial securities, capital budgeting, risk and return trade-offs and capital market efficiency.

BUS 810 - Fixed Income Analysis (3)

Builds on the fixed income insights and goes deeper in such subjects as the term structure of interest rates, fixed income returns, yield-spread analysis, sources of risk in fixed income securities, and embedded options. Prerequisite: BUS 803, BUS 806, and BUS 827.

Section Instructor Day/Time Location
G100 Yuriy Zabolotnyuk
Mar 12 – Apr 7, 2025: Mon, Wed, Fri, 9:30 a.m.–1:00 p.m.
Vancouver
BUS 814 - Derivative Securities I (3)

An introductory course in derivative securities that includes pricing as well as the use of derivative securities in portfolio management and structured transactions.

Section Instructor Day/Time Location
G100 Andrey Pavlov
Feb 3 – Mar 3, 2025: Mon, Wed, Fri, 10:00 a.m.–1:30 p.m.
Vancouver
BUS 827 - Principles of Investments (3)

Provides students with the principles, theories and practices of Investing. The course surveys relevant investment theories as applied to different asset classes, focusing on the decision-making process it discusses applications in both traditional and alternative investments.

BUS 828 - Business Strategy, Ethics and The Regulatory Environment (2)

Examines how organizations create long term, sustainable, competitively differentiated value for shareholders and stakeholders by developing, enacting, monitoring and adjusting corporate and business unit strategies in a stringent regulatory and highly competitive environment.

BUS 861 - Managerial Communication (2)

Designed to assist students to improve their written and verbal communication skills in business settings.

Section Instructor Day/Time Location
G100 Darrin Hotte
Jan 9 – Feb 13, 2025: Thu, 9:30 a.m.–1:00 p.m.
SEGAL
BUS 881 - Principles of Fund Management (3)

An introduction to managing stock and bond portfolios, and is a prerequisite to working on the Student Investment Advisory Service Endowment Fund. The course will cover investment policy, allocation of assets to different asset classes, selecting specific securities, managing portfolio risk, an introduction to fixed income investing, and reporting to clients.

and the requirements from one of the below streams

Investment Management Stream

BUS 816 - Strategic Asset Allocation (3)

Assumptions underlying the Capital Asset Pricing Model are relaxed to allow for specific views on asset returns, and to allow for the expected future consumption needs of a given investor to be considered at a strategic level.

BUS 826 - Portfolio Theory and Asset Pricing (3)

Four main topics are covered: portfolio theory, asset pricing, market efficiency, and performance measurement. The first two are cornerstones of financial economics, as, for the most part, portfolio selection models form the basis of models of asset pricing. The third cornerstone is the efficient markets hypothesis, which asks whether prices reflect information. Finally, asset pricing models provide the basis for many risk-adjusted measures of the performance of mutual, pension, and hedge funds.

BUS 829 - Investment Banking and Private Equity (3)

Mixes financial theory with concrete applications in investment banking and private equity settings. Main areas of study are around Corporate Finance, Equity Valuation and Investments that are of importance to investment bankers and private equity professionals.

and nine units from the list of electives

Electives

BUS 801 - Financial Modelling (3)

An introduction to elements of mathematics and computational techniques employed in finance and financial risk management. An introduction to programming tools, e.g. VBA, Matlab, and an object oriented programming language (e.g. C++). Prerequisite: Academic Director approval.

BUS 870 - Research Project (3)

A research project in the areas of investment management, risk management or a closely related field of inquiry. Project may be done individually or in pairs. Graded on a satisfactory/unsatisfactory basis.

BUS 876 - Special Topics (3)

Special topics for business administration.

BUS 888 - Special Topics (3)

Special topics related to fundamentals in finance, asset pricing, market risk management and credit risk management. Students may repeat this course for further credit under a different topic.

BUS 889 - Special Topics (3)

Special topics related to fundamentals in finance, asset pricing, market risk management and credit risk management. This course will be graded as satisfactory/unsatisfactory.

Risk Management Stream

BUS 818 - Derivatives (3)

Technical course that provides the participants with the necessary knowledge to address more complex risk management problems. Prerequisite: BUS 803, BUS 806, and BUS 827.

BUS 864 - Credit Risk Management (3)

Credit risk management with emphasis on portfolio models, including probability of default and loss given default models, credit capital allocation, active portfolio management, credit derivatives, and structured transactions.

BUS 865 - Market Risk Management (3)

Value at risk, advanced market risk models, statistical models, stress testing, scenario analysis, and risk-adjusted performance measurement.

and nine units from the list of electives

Electives

BUS 801 - Financial Modelling (3)

An introduction to elements of mathematics and computational techniques employed in finance and financial risk management. An introduction to programming tools, e.g. VBA, Matlab, and an object oriented programming language (e.g. C++). Prerequisite: Academic Director approval.

BUS 870 - Research Project (3)

A research project in the areas of investment management, risk management or a closely related field of inquiry. Project may be done individually or in pairs. Graded on a satisfactory/unsatisfactory basis.

BUS 876 - Special Topics (3)

Special topics for business administration.

BUS 888 - Special Topics (3)

Special topics related to fundamentals in finance, asset pricing, market risk management and credit risk management. Students may repeat this course for further credit under a different topic.

BUS 889 - Special Topics (3)

Special topics related to fundamentals in finance, asset pricing, market risk management and credit risk management. This course will be graded as satisfactory/unsatisfactory.

Research Stream

BUS 890 - Business Econometrics I (3)

Econometrics and statistics provide the tools of choice to carry out quantitative research. With a focus on laying the groundwork for industry as well as academic applications, much stress is placed on fostering a good understanding of the uses, limitations and potential pitfalls of the most commonly employed methods. Prerequisite: Students need permission from academic unit.

BUS 891 - Theory of Financial Markets (3)

Continuous time is used for the celebrated Black-Scholes Model for pricing derivatives and is also often the most intuitive way to tackle asset pricing, term structure theory and portfolio selection. Through first laying the foundations in discrete time to illustrate the basic mechanisms, continuous time is gently introduced by working out its analogs that form a cornerstone of much of modern finance. Prerequisite: Students need permission from the program before entering the research stream.

BUS 965 - Business Econometrics II (4)

Econometrics provides the tools required to conduct advanced quantitative research in business. The course focuses on advanced techniques tailored to address complex research problems in asset pricing, corporate finance, and financial accounting. These techniques build on generalized least squares, maximum likelihood, and generalized methods of moments estimation to provide the state-of-art tools needed to analyze increasingly challenging business data. Prerequisite: BUS 890 or equivalent.

BUS 967 - Asset Pricing (4)

Students are exposed to recent developments in the asset pricing literature. The focus is on continuous time theoretical models and their empirical tests. Students develop the skills required to understand, replicate and extend academic papers in this area. The topics covered may include the capital asset pricing model (CAPM) and the arbitrage pricing model (APT), consumption and production based dynamic general equilibrium, dynamic models of the term structure of interest rates, and other selected topics. Prerequisite: BUS 891 or equivalent.

BUS 968 - Corporate Finance Theories and Methods (4)

Students are exposed to advanced analysis of decision making at the corporate level. We discuss academic research in corporate finance and cover both theoretical models and empirical tests. The course is methodology oriented in that students are required to master necessary methodological tools for each topic. The topics covered may include capital structure, distribution policy, financial intermediation, market for corporate control, product market and corporate finance interactions, and other selected topics. Prerequisite: BUS 891 or equivalent.

* BUS 700 and BUS 800 are prerequisites for all courses in this program

Accelerated Master's

SFU students accepted in the accelerated master’s within the Beedie School of Business may apply a maximum of 10 graduate course units, taken while completing the bachelor’s degree, towards the upper division electives of the bachelor’s program and the requirements of the master’s degree. For more information go to: https://www.sfu.ca/gradstudies/apply/programs/accelerated-masters.html.

Program Length

Students are expected to complete the program requirements within four terms.

Other Information

Student Investment Advisory Service (SIAS)

The MSc in finance program provides an optional opportunity for students to practice the foundation of fund management and to acquire real world investment, compliance and risk experience through the Student Investment Advisory Service (SIAS). Participating students will manage the real-money SIAS fund professionally according to accepted industry standards. They are responsible for identifying which assets should be traded and to comply with all aspects of the Investment Policy Statement to the satisfaction of the client (SFU). Students must be enrolled in BUS 880 no later than the second term and have completed BUS 881 satisfactorily in order to enroll.

BUS 880 - Student Investment Advisory Service Practicum (3)

Students in this course will manage the Student Investment Advisory Service (SIAS) fund which includes $10 million of the university's endowment portfolio, funded by contributions from HSBC Bank Canada and Lohn Foundation. SIAS fund follows a value investing mandate set by the client (SFU) through a conservative investment policy statement. The fund is composed of four actively managed asset classes: Cash, Canadian Equity, Global Equity and Fixed Income. SIAS fund reports monthly compliance and performance to the client and faculty advisors. Additionally, performance review presentations are held on a quarterly basis. Students must be enrolled in BUS 880 no later than the second term of enrollment and throughout the program in order to successfully complete the course. Prerequisite: BUS 881 or Academic Director approval.

Section Instructor Day/Time Location
G100 Frederick Willeboordse
Mar 11 – Mar 20, 2025: Tue, Thu, 1:00–4:30 p.m.
Mar 6, 2025: Thu, 5:00–9:30 p.m.
Vancouver
SEGAL

Academic Requirements within the Graduate General Regulations

All graduate students must satisfy the academic requirements that are specified in the Graduate General Regulations, as well as the specific requirements for the program in which they are enrolled.