Although there is some overlap with an
MBA, the finance Masters provides a broader and deeper exposure to finance, but more limited exposure to
general management topics. Thus, the program focuses on
finance and
financial markets, while an MBA, by contrast, is more diverse, covering general aspects of
business, such as
human resource management and
operations management. At the same time, an MBA without a
specialization in finance will not have covered many of the topics dealt with in the MSF (breadth), and, often even where there is specialization, those areas that are covered may be in less depth (certainly as regards the M.Fin). Other specialized
business Masters, such as the
MSM (Finance) and the
MCom (Finance) closely correspond to the MSF, similarly. Note that the latter
Master of Commerce is often theory-centric, placing less emphasis on practice; at the same time, notwithstanding its foundational courses in business, it often shares the same electives as the MFin. As above, some MSF and all M.Fin programs overlap with degrees in
financial engineering,
computational finance and
mathematical finance; see
Master of Quantitative Finance (MQF). Note, however, that the treatment of any common topics — usually
financial modeling,
derivatives and
risk management — will differ as to level of detail and approach. The MSF deals with these topics conceptually, as opposed to technically, and the overlap is therefore slight: although practical, these topics are too technical for a generalist finance degree, and the exposure will be limited to the generalist level. The M.Fin / MSc, on the other hand, cover these topics in a substantively mathematical fashion, and the treatment is often identical. The distinction here though, is that these place relatively more emphasis on financial theory than the MQF, and also allow for electives outside of quantitative finance; at the same time, their range of quantitative electives is often smaller. Entrance requirements to the MQF are significantly more mathematical than for the MSF, while for the M.Fin / MSc the requirements may be identical. A
Master of Financial Economics focuses on
theoretical finance, and on developing models and theory. The overlap with the M.Fin / MSc, then, as with the MQF, is often substantial. As regards the MSF, on the other hand, although the two programs do differ in the weight assigned to theory, there is some overlap: firstly, some MSF curricula do include a formal study of
finance theory; The
Chartered Financial Analyst (CFA) designation is sometimes compared to a Masters in Finance. In fact, several universities have embedded a significant percentage of the CFA Program "Candidate Body of Knowledge" into their degree programs; and the degree title may reflect this: "Master in Financial Analysis" or similar. In general though, the CFA program is focused on
portfolio management and
investment analysis, and provides more depth in these areas than the standard Finance Masters, whereas for
other areas of finance the CFA coverage is in less depth. Likewise, several programs have curricula aligned with the
FRM /
PRM, (note that the so-called "
Indian C.F.A." is, in fact, a master's degree). A further distinction — as regards all such designations — is that (most) Masters programs include practice on, for example, the
Bloomberg Terminal, and in building advanced
financial models, while "hands on" training of this sort will not (typically) be included in a
professional certification program. ==See also==