Master On Campus

Financial Engineering

24 months
7300 USD/year
5752 USD/year
Tuition fee
Apply date
Start date


A multidisciplinary programme that applies engineering problem-solving tools and skill sets to the field of finance. Our graduate programme in Financial Engineering at Reykjavík University prepares students for the ever increasingly complex financial markets and products of the modern world.


The field of financial engineering is young, and is growing by leaps and bounds each year. This graduate programme is designed for leading employees of both financial institutions and corporations where a deep understanding of financial markets is critical. 

Students will be placed in an intensive and interdisciplinary environment where the financial knowledge, engineering methods, mathematical and statistical tools, communication skills, and programming are brought together and put to use.

The Department of Engineering's Financial Engineering programme at Reykjavík University was designed in close collaboration with the Sloan School of Management and the Operations Research Centre at MIT.


Our programme aims to produce high-calibre practitioners and researchers who will be able to apply quantitative methods with informed heuristics to develop new and profitable financial solutions that will impact the way consumers and corporations manage financial market risks. As a part of the programme the students have the option to and are encouraged to acquire hands-on experience, working on practical problems in finance as part of the curriculum.

Programme Structure

Courses include:

  • Data Mining and Machine Learning
  • Applied Probability
  • Financial Engineering in the Firm
  • Derivatives and Risk Management
  • Fixed Income and Interest Rate Modelling

Key information


  • Full-time
    • 24 months

Start dates & application deadlines


120 ECTS


On Campus

Academic requirements

We are not aware of any academic requirements for this programme.

Other requirements

General requirements

  • An undergraduate degree in engineering, mathematics or physics is required.
  • The respective undergraduate degree must include courses on calculus, linear algebra, probability, statistics, and programming.
  • Applicants must possess a basic knowledge of stocks, fixed income instruments, and derivatives.
  • Applicants must have experience programming in MATLAB, C++ and/or programming languages.

Tuition Fee

To alway see correct tuition fees
  • International

    7300 USD/year
    Tuition Fee
    Based on the tuition of 3650 USD per semester during 24 months.
  • EU/EEA

    5752 USD/year
    Tuition Fee
    Based on the tuition of 2876 USD per semester during 24 months.
  • EU/EEA fee / per semester: ISK 394,000
  • Non-EU/EEA fee / per semester: ISK 500,000

Living costs for Reykjavik

178929 - 290400 ISK /month
Living costs

The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.


Studyportals Tip: Students can search online for independent or external scholarships that can help fund their studies. Check the scholarships to see whether you are eligible to apply. Many scholarships are either merit-based or needs-based.

Our partners

Financial Engineering
Reykjavík University


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