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Master of Science in Applied Finance
Master of Science in Applied Finance

Master of Science in Applied Finance

The Master of Science in Applied Finance (MSAF) program at the GW School of Business (GWSB) produces leaders in the field of finance. The program focuses on risk management, financial engineering, banking, corporate finance, and portfolio analysis and management. It has been designed to combine quantitative and computer skills with financial theory and applications. The MSAF program qualifies as a STEM program.

Credits

The MSAF program is a full-time, 36 credit-hour program.

Duration

The MSAF program is a 12-month program that takes place during the fall, spring and summer semesters. Students will complete the degree requirements in one year.

Class Profile

GW Master of Science in Applied Finance 2023 class profile graphic. Graphic shows an average age of 29, an average of 5 years experience, and an average undergraduate GPA of 3.5. The class is comprised of 88 percent international students from 5 countries, and 38 percent are female. When they were undergraduates, their concentrations were 38 percent economics, 12 percent math, 12 percent financial engineering, and 38 percent finance.

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Degree Requirements

The MSAF degree requires students to complete 36 credits of required courses. All courses are four-credit and a full semester long. The summer semester is mandatory for MSAF candidates.

The following requirements must be fulfilled: 36 credits in required courses.

Required
FINA 6271Financial Modeling and Econometrics
FINA 6272Global Financial Markets
FINA 6273Cases in Financial Management and Investment Banking
FINA 6275Investment Analysis and Global Portfolio Management
FINA 6276Financial Engineering and Derivative Securities
FINA 6279Real Estate Finance and Fixed-Income Security Valuation
FINA 6280Financial Institution Management and Modeling
FINA 6281Cases in Financial Modeling and Engineering
FINA 6282Advanced Financial Econometrics and Modeling (taken for 4 credits)
Additional Program Requirements

Students must achieve at least a 3.0 cumulative grade point average at the time of graduation.

Sample Course Sequencing

Sample Course Sequencing

Fall (9 credits)

  • FINA 6271 (4 credits)
  • FINA 6273 (4 credits)
  • FINA 6282 (1 credit)

Spring (12 credits)

  • FINA 6275 (4 credits)
  • FINA 6276 (4 credits)
  • FINA 6279 (4 credits)

Summer (15 credits)

  • FINA 6272 (4 credits)
  • FINA 6280 (4 credits)
  • FINA 6281 (4 credits)
  • FINA 6282 (3 credits)
Combined Degree Options

This degree may be combined with a bachelor's degree through GWSB's new 4+1 Program, which enables students to complete both a bachelor's and a master's degree in five years. 4+1 Program options, eligibility and degree paths are outlined on the 4+1 Program page. Please contact the MSAF program director for eligibility.

 

Admissions

Admission to the MSAF program is highly competitive and enrollment is limited. Students operate in two cohorts throughout the academic year.

Due to the rolling admissions policy, it is highly recommended that candidates submit applications early. The candidate’s major and trend in grades, personal achievements, and letters of recommendation also affect the admission decision. This program seeks social, ethnic, cultural and geographical diversity in its student body.

Prerequisites

A Bachelor’s degree from an accredited university with credit hours in:

  • Advanced Mathematics (6 credits; 3 credits must be in Calculus)
  • Microeconomics (3 credits)
  • Macroeconomics (3 credits)
  • Financial Accounting (3 credits)
  • Managerial Finance (3 credits)
  • Statistics (3 credits)

Additional coursework, degrees, and/or work experience in these five areas are considered favorably in the selection process.

Application Requirements

To be considered complete, the following must be included in the application:

  • Completed online application form
  • Application fee (non-refundable)
  • Current résumé uploaded through the online application system
  • Three letters of recommendation from professional and/or academic references
  • Statement of Purpose: In no more than 500 words, describe how this program fits into your professional life and your career objectives.
Additional Application Requirements
  • Upload copies of your transcripts from all colleges/universities attended, whether or not the program was completed or the credit appears as a transfer credit on another transcript. Note that admitted students will be required to submit official, sealed transcripts with proof of bachelor’s degree. There is no need to submit them at the time when you first apply.
  • The GRE or GMAT test is not required for this program — however, if you feel that submitting your scores will strengthen your application, you are welcome to submit them. Learn more about our test-optional policy on the How to Apply page. GW School of Business applicants interested in taking the exam can benefit from 10% off any Kaplan GMAT or GRE preparation course. Use discount code GWUSB10.
International Applicants

Applicants who require a visa to study in the United States must also fulfill additional requirements in order to be considered for admission to a graduate program at the School of Business. Please visit our How to Apply page for further details.

Admissions Process

Applying to a program at the GW School of Business may seem like a complicated process, but the GWSB admissions team is here to help. The application process for this program can be found on our How to Apply page. All application materials should be sent to the GWSB Graduate Admissions Office. The GRE or GMAT test is not required — however, if you feel that submitting your scores will strengthen your application, you are welcome to submit them.

 

Application Deadlines

Applications are reviewed on a rolling basis. Candidates seeking financial assistance and international students requiring visas are encouraged to apply early. Only completed applications, with all required materials, will be considered for admission.

Tuition and Other Costs

Explore tuition rates and fees, view health insurance and housing costs, and more.

Tuition and Fees

Please visit the Student Accounts Office for a complete list of tuition rates and fees.

Other Expenses
  • Student Health Insurance
    GW offers voluntary comprehensive health insurance through Aetna Student Health. All F-1 and J-1 international students are automatically enrolled. See the Student Health Insurance page for rates and other important information.
  • Housing
    View information about on-campus and off-campus housing for full-time GW graduate students.

 

Financial Resources

From scholarships and fellowships to loans and work-study arrangements, we offer a wealth of resources to help you finance your degree.

GWSB Fellowships and Financial Support

The GW School of Business offers merit-based fellowships to incoming students at the time of admission. While applying to graduate degree programs at GWSB, prospective students may opt in to be automatically considered for all fellowship award opportunities funded by the School of Business as well as various university-funded tuition awards administered by the Office of Graduate Student Assistantships and Fellowships (OGSAF). Unless otherwise stated, no separate application is required.

In limited circumstances, current students may also be eligible for merit-based tuition fellowship awards.

Office of Graduate Student Assistantships and Fellowships

The Office of Graduate Student Assistantships and Fellowships (OGSAF) maintains a comprehensive database of GW and external fellowships to support graduate-level study and/or research. Incoming and current students are encouraged to browse the OGSAF website for information about additional merit-based funding opportunities.

Federal Financial Aid

U.S. Citizens and eligible non-citizens may qualify for:

  • Federally sponsored education loans through the Federal Direct Unsubsidized Loan and Federal Graduate PLUS Loan Programs
  • Need-based financial assistance through the Federal Work Study Program, which allows students to earn income while working part-time at pre-approved organizations during their program

To apply for federal financial aid, submit the Free Application for Federal Student Aid (FAFSA) by the appropriate deadline using GW’s FAFSA school code: 001444. Please note that students must apply for federal financial aid each academic year.

Visit the Office of Student Financial Assistance for details about eligibility criteria, application steps, and deadlines. Information about alternate private and federal loans is also available.

Tuition Discounts

Employer Discounts

The GW School of Business offers a tuition discount to current employees of the following companies:

  • Leidos
  • Lockheed Martin
  • Organization of American States (GS/OAS)
  • SAIC

Please note that eligible programs vary by employer. View details about eligibility, conditions, and the application process.

Veterans and Military

Nationally recognized as a top military- and veteran-friendly university, GW offers a wealth of services and benefits to student veterans, military personnel, and dependents of the United States Armed Forces. As a proud participant in the Yellow Ribbon Program, GW funds tuition expenses exceeding the maximum base pay amount covered through the GI Bill®, and its contributions are matched by the Department of Veteran Affairs.

For more information about the Yellow Ribbon Program and other education benefits, visit GW Veteran & Military Services (VMS).

GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government website.

Student Employment and Internships

The F. David Fowler Career Center supports GWSB student and alumni professional development by providing career management resources, career fairs and expos, and employer information sessions. GWSB students also have access to employment services and resources provided through GW’s Center for Career Services.

Handshake is the official online recruiting platform and event calendar for the F. David Fowler Career Center and the Center for Career Services. To search for jobs and internships, find and register for events, and connect with career coaches, log in to Handshake.

Federal Work Study

The Federal Work Study Program is a federally-funded and need-based work program that allows GW students to earn income through part-time employment during the academic year at GW and other pre-approved organizations. Graduate students interested in the program must submit the FAFSA and apply through the Office of Student Financial Assistance.

The Center for Career Services provides awarded students assistance with finding positions. Visit the Center for Career Services for information about the Federal Work Study Program at GW.

International Students

Students studying at GW on F-1 or J-1 visas may have additional restrictions on their employment due to visa regulations. F-1 Students are required to obtain Curricular Practical Training (CPT) authorization from the International Services Office for all paid, off-campus internships and employment. GW-sponsored J-1 Exchange Visitors are required to obtain employment authorization for all employment, whether on-campus or off-campus.

For more information about the CPT application process, see GWSB Global & Experiential Education’s Curricular Practical Training page.

For information about how your visa status may affect your employment options, please visit the International Services Office.

Billing and Payment Processing

The Student Accounts Office manages all student accounts and processes student bills, refunds, disbursements, payment plan enrollment, employer reimbursements, third party billing, and financial holds. For inquiries regarding your Student eBill, tuition and fees, or payment options and due dates, visit the Student Accounts Office.