Graduate Course Catalog 2007-2009

General Information

Faculty/Staff Directory





Total Credit Hours: 36

The Master of Science in Finance degree is specifically designed to prepare individuals to assume positions in investment analysis, portfolio management and financial services. The degree is intended for those who are focused in their field and possess the drive and motivation to succeed in the program.

Students will also be exposed to coursework in related fields, such as economics and accounting, as analysts need a complete view of capital markets from a macroeconomic perspective down to the reporting of an individual firm’s financial performance.

Utilizing the CFA Institute Candidate Body of Knowledge® as guidance, coursework in the degree will assist individuals in preparing to take the CFA Level I exam. Whenever possible, texts and materials used in the CFA Program will be used. The CFA Institute (formerly the Association for Investment Management and Research) is the leading organization of investment analyst professionals with over 80,000 members in approximately 125 countries. Almost 70,000 members hold the prestigious CFA designation. The local regional society, The CFA Society of Chicago, is the nation’s oldest and one of the largest organizations of financial analysts with approximately 3,000 members.

The CFA designation is awarded to those who pass a series of three tests, possess an earned bachelor’s degree, have accumulated four years of experience as an investment professional, commit to abide by the CFA Institute Code of Ethics and Standards of Professional Conduct, and meet other requirements established by CFA Institute.

The exams in the CFA Program are considered some of the most rigorous in the industry covering ethical and professional standards, tools for investment valuation, asset valuation and portfolio management. The Lewis MS in Finance will help students prepare for some of the most rigorous parts of the Level I exam. The Level I pass rate has recently been in the 30-40% range.

PROGRAM OBJECTIVESGraduates of the Master of Science in Finance program are expected to be able to:

• Understand the role of finance in the business organization.

• Successfully apply analytical financial tools to a variety of investment situations.

• Understand the ethical and legal implications of their actions.

• Demonstrate critical thinking and a functional knowledge across the various disciplines impacting investment decisions.

• Develop sufficient technical skill to be able to comprehend articles published in rigorous practitioner journals such as the Financial Analysts Journal and Journal of Portfolio Management.

• Retain the critical knowledge to allow the student to pass the CFA Level I exam.


To be accepted for admission into the program, a student must present the following credentials:

1. Baccalaureate degree from an accredited institution of higher education.

2. An application for graduate admission, including a non-refundable application fee. Apply online by visiting

3. Professional resume.

4. Undergraduate GPA = 2.75 (conditional admission available to those with GPA < 2.75 - see Student-at-Large/Conditional Admission).

5. Official transcripts from all educational institutions attended.

6. Two letters of recommendation.

7. International students are required to have a TOEFL test score > 550.


A student whose cumulative undergraduate GPA is less than 2.75 will be required to take two Foundation level courses and earn a grade of B or higher in both courses in order to qualify for degree-seeking status. These two courses must be successfully completed before any further courses will be allowed. Students may select two of the following three courses to satisfy this admission requirement: 66-501 Financial Accounting; 66-502 Business Economics; and 66-512 Financing the Business Enterprise.

If a student has already taken two of the above three course as an undergraduate, then a grade of B or higher must be earned in two of the following three Core courses: 59-550 Managerial Accounting; 59-554 Managerial Economics; and 59-572 Managerial Finance. These two courses must be successfully completed before any further courses will be allowed. Students must meet this requirement on the first attempt.


Students must complete a minimum of 36 graduate credits in the program to earn the Master of Science in Finance degree. Students must maintain a 3.0 GPA while in the program. If the student’s GPA falls below 3.0, there will be a grace period of one semester after which the student must bring the GPA up to the 3.0. Six hours of equivalent graduate coursework can be transferred into the program.

I. Foundation Courses (9)

Students who have not completed a business undergraduate degree will be required to take the following Phase I coursework:
    66-501 Financial Accounting (3)
    66-502 Business Economics (3)
    66-512 Financing the Business Enterprise (3)

II. Core Courses (30)

In addition to the above, the following courses are requirements for the Master of Science in Finance degree:
    66-572 Managerial Finance (3)
    66-550 Managerial Accounting (3)
    66-554 Managerial Economics (3)
    66-604 Quantitative Techniques for Financial Markets (3)
    66-600 Portfolio Management and Investment Analysis (3)
    66-586 International Finance (3)
    66-584 Futures and Options (3)
    66-585 Financial Management Strategies (3)
    66-602 Fixed Income Analysis (3)
    66-603 Financial Statement Analysis (3)

III. Electives (6)

The following courses may be used as electives. Courses other than those listed below may be used as electives if approved by the Academic Program Director.
    59-640 Accounting Ethics, Liability and Exposure (3)
    59-644 Advanced Tax Topics (3) (3)
    59-505 Introduction to Information Security (3)
    59-545 International Economics (3)
    59-561 Strategic Outsourcing (3)
    59-560 Principles of Six Sigma (3)
    59-588 Employment Law (3)