The program differs from a
Master of Science in Finance (MSF), and an
MBA in finance, in that these degrees aim to produce finance generalists as opposed to "quants", and therefore focus on
corporate finance,
accounting,
equity valuation and
portfolio management. The treatment of any common topics—usually "
derivatives",
financial modeling, and
risk management—will be less (or even non) technical. Entrance requirements are similarly less mathematical. Note that
Master of Finance (M.Fin.) and MSc. in Finance degrees, as distinct from the MSF, may be substantially similar to the MQF. There is some overlap with degrees in
actuarial science, and both degrees are occasionally offered by the same department. Specifically, whereas actuarial programs cover risk and uncertainty as applied to
pensions,
insurance and
investments, quantitative finance programs are broader (although offer less depth in these areas), and prepare graduates for various of the highly numerate roles in finance and for other areas that require "quants". There is similarly overlap with a
Master of Financial Economics, although the emphasis is very different. That degree focuses on
the underlying economics, and on developing and testing theoretical models, and aims to prepare graduates for
research based roles and for
doctoral study. The curriculum therefore emphasises coverage of financial theory, and of
econometrics, while the treatment of model
implementation (through mathematical modeling and programming), while important, is secondary. Entrance requirements are similarly less mathematical. Some Financial Economics degrees are substantially quantitative, and are largely akin to the MQF. For students whose interests in finance are commercial rather than
academic, a Master's in Quantitative Finance may be seen as an alternative to a
PhD in finance. At the same time though, "Master's in Mathematical Finance" programs are often positioned as providing a basis for
doctoral study. ==History==