Anyone know a graduate certificate program in mathematics or economics with an emphasis on financial engineering? Feedback please.
Suggest you ask at the Wilmott forums for this kind of question: www.wilmott.com For example there is the CFQ (Certificate in Quantitative Finance) as far as I know it has an emphasis on the engineering aspects (C++ or C#) - can't remember off the top of my head though...
From a recent (2/17) speech by Paul Volker..... One of the saddest days of my life was when my grandson â and heâs a particularly brilliant grandson â went to college. He was good at mathematics. And after he had been at college for a year or two I asked him what he wanted to do when he grew up. He said, âI want to be a financial engineer.â My heart sank. Why was he going to waste his life on this profession? A year or so ago, my daughter had seen something in the paper, some disparaging remarks I had made about financial engineering. She sent it to my grandson, who normally didnât communicate with me very much. He sent me an email, âGrandpa, donât blame it on us! We were just following the orders we were getting from our bosses.â The only thing I could do was send him back an email, âI will not accept the Nuremberg excuse.â There was so much opaqueness, so many complications and misunderstandings involved in very complex financial engineering by people who, in my opinion, did not know financial markets. They knew mathematics. They thought financial markets obeyed mathematical laws. They have found out differently now. You know, they all said these events only happen once every hundred years. But we have âonce every hundred yearsâ events happening every year or two, which tells me something is the matter with the analysis. So I think we have a problem which is not an ordinary business cycle problem. It is much more difficult to get out of and it has shaken the foundations of our financial institutions. The system is broken. Iâm not going to linger over what to do about it. It is very difficult. It is going to take a lot of money and a lot of losses in the banking system. It is not unique to the United States. It is probably worse in the UK and it is just about as bad in Europe and it has infected other economies as well. Canada is relatively less infected, for reasons that are consistent with the direction in which I think the financial markets and financial institutions should go. http://network.nationalpost.com/np/...ker-the-banking-world-needs-more-canadas.aspx