Master of Science in Finance

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Available entirely online!

Earn Your Master's in Finance Entirely Online

The Manning School of Business (MSB) Finance Department, in collaboration with the Division of Online and Continuing Education, is now offering the Master's of Science Degree in Finance entirely online. All of UMass Lowell's programs offered by the MSB are accredited by the Association to Advance Collegiate Schools of Business (AACSB). This accreditation is the highest level of accreditation for a business school, and documents the commitment of the Finance Department, the Manning School of Business, and the University of Massachusetts Lowell to excellence in education and continuous improvement of programs to keep them rigorous and relevant.

Undergraduate non-business majors who have not previously taken undergraduate courses in Financial Accounting, Business Financial Analysis, and Microeconomics with grades of B- or better must do so prior to applying to this program. This requirement can be satisfied by taking the following three UMass Lowell courses: 49.201 Microeconomics; ACCT.501 Financial Accounting; FINA.501 Business Financial Analysis. These prerequisite course credits may not be counted towards the master's degree.

Program Outline

10 courses total

Required Core Finance Courses

Total Core Courses Required: 5

  1. FINA.6010 Corporate Finance (3cr) - Available Spring 2017!
  2. FINA.6110 Financial Statement Analysis
  3. FINA.6210 Security Analysis and Portfolio Management (3cr)
  4. FINA.6750 Financial Derivatives (3cr)
  5. FINA.6910 International Financial Management (3cr) - Available Spring 2017!
Finance Concentration Elective Courses

Choose 5 of the following:

  1. ACCT.6010 Accounting Information for Management Decisions (3cr) - Available Spring 2017!
  2. FINA.6020 Advanced Corporate Finance (3cr)
  3. FINA.6100 Global Financial Markets and Monetary Policy (3cr)
  4. FINA.6220 Advanced Portfolio Management (3cr)
  5. FINA.6240 Fixed Income Securities (3cr) - Available Spring 2017!
  6. FINA.6510 Bank Management
  7. FINA.6610 Financial Risk Management (3cr)
  8. FINA.6990 Finance Seminar

Admission Requirements

  1. Undergraduate Degree: Please provide official transcripts. A minimum overall GPA of 3.0 is required.
  2. GMAT with a minimum score of 500. This can be waived for undergraduates with a GPA of 3.5 or higher from an AACSB-accredited undergraduate program. UMass Lowell undergraduates with a GPA of 3.2 or higher can have this requirement waived upon receipt of a recommendation by a UMass Lowell faculty member.
  3. TOEFL for international students: (600+ paper-based, 250+ computer-based, or 100+ Internet-based).
  4. Successful completion of all other University admissions requirements, including a statement of purpose and three letters of recommendation. See UMass Lowell's Graduate Admissions Requirements for details.

Course Descriptions

ACCT.6010 Accounting Information for Management Decisions

Prerequisite: Student must be matriculated and must have completed foundation core courses. Focuses on the manager's view as opposed to the accountant's view of the decision process and related quantitative and qualitative information needs. The course material examines accounting information that will achieve faster, better, and cheaper operations. New strategic cost management models, such as ABC and target costing, are explored and contrasted with traditional cost approaches. 3 credits. Prerequisite: Pre-req: MBA; Foundation Core. Special Notes: If not currently matriculated in a Manning School of Business program, please contact the MBA staff at MBA@uml.edu or call 978-934-2848 for permission to take courses.

FINA.6010 Corporate Finance

Relates working capital strategy, capital investment analysis, long-term financing, and capital structure decisions in a risk-return framework to the dynamics of the firm and the market in which it operates. 3 credits. Prerequisite: MBA, MSA, MS ITE or MSF. Special Notes: If not currently matriculated in a Manning School of Business program, please contact the MBA staff at MBA@uml.edu or call 978-934-2848 for permission to take courses.

FINA.6020 Advanced Corporate Finance

This course covers advanced topics of financial decision-making concepts such as financial restructuring, mergers and acquisitions, different forms of debt and equity financing, leasing, and real options. The course includes techniques to incorporate uncertainty in financial analysis, to hedge corporate risk, and to restructure a firm through leveraged buyouts or under bankruptcy protection. It also includes advanced topics such as real options, theories of behavioral corporate finance, and the process to navigate extraordinary financial situations such as financial restructuring and liquidation. 3 credits. Special Notes: If not currently matriculated in a Manning School of Business program, please contact the MBA staff at MBA@uml.edu or call 978-934-2848 for permission to take courses.

FINA.6100 Global Financial Markets and Monetary Policy

This course examines the interactions between changing perceptions of macroeconomic conditions and movements in the prices and yields on financial market instruments. The orientation of this course is heavily institutional with emphasis on helping students develop a Wall Street perspective on asset choice and the likely impact of macroeconomic conditions and policies on financial market prices. At the same time, the dependence of macroeconomic policy outcomes on global financial markets expectations of future real growth in the US and in the world economy, expectations of inflation, sovereign default risk and of interest rates will be stressed. 3 credits. Prerequisite: CSCE Graduate Restrictions Special Notes: If not currently matriculated in a Manning School of Business program, please contact the MBA staff at MBA@uml.edu or call 978-934-2848 for permission to take courses.

FINA.6110 Financial Statement Analysis

This course introduces to students a comprehensive financial statement analysis and valuation framework that integrates financial reporting, financial analysis and valuation, and the application of this framework to fundamental analysis. This course provides students with hands-on experience in financial statement analysis. Students will be introduced to general tools of financial analysis, theoretical concepts, and practical valuation issues. By the end of the course, students should be comfortable with using firms financial statements to develop an understand of their performance and to establish a basis for making reasonable valuation estimates. Prerequisite: MBA,MSF,or MSA & Core Pre-req

FINA.6210 Security Analysis and Portfolio Management

This course introduces the student to the main theories and practice of investments and portfolio management. The student will learn about various investment opportunities including real and financial assets; the investment environment including the money and capital markets; the investment process including identification of goals, data gathering and analysis etc.; and, decision making under a changing market environment. The material covered will include: selection of assets - with special emphasis on securities selection through technical analysis and fundamental analysis, computation of risk and return of individual assets, asset allocation and portfolio formation, computation of risk and return of portfolios, measurement of portfolio performance and rebalancing of portfolios. Also included in the material will be topics such as the pyramid approach, forecasting and the use of indicators and, market and industry indexes, models such as the CAPM, bond and stock valuation, mutual funds, domestic versus global investment etc. 3 credits. Special Notes: If not currently matriculated in a Manning School of Business program, please contact the MBA staff at MBA@uml.edu or call 978-934-2848 for permission to take courses.

FINA.6220 Advanced Portfolio Management

This course develops investment theory as applicable to portfolio management and securities selection. Topics covered include identification of investor goals, identification of investment opportunities in real and financial assets under volatile capital market conditions as well as analysis and decision making under conditions of certainty and uncertainty. Related concepts include technical analysis and fundamental analysis, pyramid approach to investing, changing risk and return through asset allocation and portfolio formation, valuation of basic securities and rebalancing of portfolios. 3 credits. Prerequisite: MBA Found Core or MSA Special Notes: If not currently matriculated in a Manning School of Business program, please contact the MBA staff at MBA@uml.edu or call 978-934-2848 for permission to take courses.

FINA.6240 Fixed Income Securities

Financial securities whose valuation depends on interest rates, such as Treasury securities, municipal bonds, and corporate bonds are called Fixed Income Securities. In this course, students will learn how to value and manage the risk of these securities. 3 credits. Prerequisite: MBA, MSA, MS ITE or MSF.

FINA.6510 Bank Management

This course introduces students to the financial management of banks and other financial institutions. The course covers topics relevant to various types of banking institutions: the environment within which they operate in the USA (including current Federal Reserve's policies); relevant government regulations; the management of commercial and consumer lending; interest rate volatility and management, other sources of bank risk and management techniques, measurement of performance and its management. Prerequisite: Prerequisites: FINA.601 Corporate Finance

FINA.6610 Financial Risk Management

This course deals with the theoretical and practical approaches to effective financial risk management. It covers risk management techniques for corporations and for management of equity, bond, derivatives and investment portfolios. Topics include measurement of corporate risk exposure, portfolio risk exposure and value at risk (VAR) for financial institutions; risk and diversification, modern portfolio theory, concentrated equity positions, portfolio benchmarking, the importance of asset allocations; market risk management, currency risk exposures, credit risk management, interest rate risks, and operational & integrated risk management; and computer applications. 3 credits. Prerequisite: FINA.6010 Pre-req

FINA.6750 Financial Derivatives

The primary emphases in this course are the valuation and practical application of derivatives for both hedging and speculation. Topics include the characteristics of options, forward contracts, futures, and swaps; arbitrage and the valuation of derivatives; creating value and profit diagrams; and the structure of the derivatives markets. Ethical and economic issues associated with the use of derivatives as reported in the current financial press are also covered. 3 credits. Prerequisite: Matriculated MBA students Special Notes: Matriculated MBA students with completed MBA Foundation Core; or permission of MBA Coordinator.

FINA.6910 International Financial Management

The international dimension of the finance function of the firm. Financial constraints of the international environment and their effect on the standard concepts of financial management. The techniques of adapting risk analysis to the international situation. Study of international currency flows, monetary systems, forward cover and international banking policies. 3 credits. Prerequisite: Matriculated MBA students Special Notes: If not currently matriculated in a Manning School of Business program, please contact the MBA staff at MBA@uml.edu or call 978-934-2848 for permission to take courses.

FINA.6990 Finance Seminar

Please contact the Program Coordinator ChanWung_Kim@uml.edu for the course description. Prerequisite: Matriculated Manning School of Business graduate students who have completed 49.201, ACCT.501, and FINA.501, or permission of Coordinator.

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Approximately 2 months prior to the start of each semester, Online and Continuing Education posts the new course schedule to the website. Once you've decided which course(s) you would like to take, returning students can register using SIS Self-Service, while new students must use the Non-Degree Registration Form.
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Email our Student Support Center for assistance, or call for advising at (800) 480-3190 and press 1 to speak with an advisor. See links at the bottom of this page for technical assistance with your online course.

UMass Lowell's Robert J. Manning School of Business is accredited by the Association to Advance Collegiate Schools of Business (AACSB) International. This is the highest level of business school accreditation an institution can achieve in the United States. AACSB Accredited Seal

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