Concordia University

Finance MSc

Admission Requirements

The program is open to both full-time and part-time students.

A bachelor's degree with high academic standing serves as a prerequisite for the program. To be eligible for admission, applicants must have maintained at least a B average in their final two years and have obtained a Grade Point Average (GPA) of at least 3.00 on a 4.30 scale, or the equivalent, from an accredited university.

Applicants with a bachelor's degree in other than Commerce or Business Administration will be required to take prerequisite courses in addition to the required coursework in the graduate program. The specific courses to be taken are determined by the Department MSc Advisor with the approval of the Associate Dean, Research and Research Programs depending upon the student's background and area of specialization.

Applicants must submit proof of satisfactory performance on the Graduate Management Admission Test (GMAT) or the Graduate Record Examination (GRE) completed within the previous five years, three letters of recommendation with the Academic Assessment forms, and a short statement of purpose. (Please note that the GMAT is preferred to the GRE).

Proficiency in English. Applicants whose primary language is not English must demonstrate that their knowledge of English is sufficient to pursue graduate studies in their chosen field. Please refer to the Graduate Admission page for further information on the Language Proficiency requirements and exemptions.

Concordia Comprehensive ESL Placement Test (ConCEPT). Applicants who have been admitted by a program and whose test results fall within the range requiring a language placement test are required to write the Concordia Comprehensive ESL Placement Test (ConCEPT).

Fast-Track to PhD in Business Administration

Meritorious students enrolled in a JMSB Master of Science program who have completed all degree requirements except for the thesis may apply for permission to proceed directly to doctoral studies in the same discipline without submitting a master's thesis. In all such cases, the decision of the PhD Admissions Committee shall be final.

Requirements for the Degree

Credits. Fully-qualified candidates are required to complete a minimum of 45 credits.

Academic Regulations

  1. Academic Standing. Please refer to the Academic Standing section of the Calendar for a detailed review of the Academic Regulations.

  2. Residence. In accordance with standard university policy, the minimum residence requirement for this master’s degree is three terms of full-time study, or the equivalent in part-time study. This requirement must be met regardless of the amount of graduate work previously completed in any other program or at any other university.

  3. Time Limit. All work for the MSc program degree for full-time students must be completed within 12 terms (four years) from the time of initial registration in the program at Concordia University; for part-time students the time limit is 15 terms (five years).

  4. Credit Load: Full-time Students. The normal course load for full-time students is 12 credits in each of the terms in the first year and the 21-credit thesis in the second year.

  5. Credit Load: Part-time Students. The maximum course load for part-time students is 12 credits per calendar year. The 21-credit thesis should take one year to 18 months to complete.

  6. Course Reduction. In exceptional circumstances, students may be granted permission to reduce their course load below the normal specified above while remaining in good standing.

  7. Program and Course Withdrawal. Students who wish to apply for withdrawal from an MSc program must do so in writing at the office of the Associate Dean, Research and Research Programs. Students may drop a course up to the end of the course change period. This is normally about two weeks after classes begin (see Academic Calendar). In addition to the regulations which appear in the Graduate Registration section of the Graduate Calendar, students enrolled in an MSc program will be required to observe the following rules.

  8. Graduation Requirement. In order to graduate, students must have a minimum cumulative GPA of 3.00.

In the first year of the program, candidates are required to complete a minimum of 24 credits:

  1. 9 credits of required courses:
    MSCA 601: Financial Economics (3 credits)
    MSCA 602: Applied Linear Statistical Models (3 credits)
    MSCA 611: Research Methodology - Finance (3 credits)

  2. 15 credits of Finance seminars: (see Finance Seminars).
    Upon approval of the Department  MSc Finance Advisor and the instructor, up to six credits of electives may include the following:
    Seminars in any other JMSB MSc program;
    PhD seminar in Finance (ADMI 840-849);
    Cognate graduate seminars offered by other departments within the university

  3. 21 credits, MSCA 699: Research Thesis


Finance Seminars

Each year a selection of specialized seminars will be offered on a rotating basis from those listed below.

MSCA 621 Seminar in Investment Theory
MSCA 622 Seminar in Investment Management
MSCA 623 Seminar in Financial Theory and Corporate Policy
MSCA 624 Seminar in Mergers, Restructuring, and Corporate Control
MSCA 625 Seminar in Options and Futures
MSCA 632 Seminar in Special Topics in Finance
Changes in topic will be indicated by the letter following this seminar number (e.g., MSCA 632A, MSCA 632B).

Seminar Descriptions

MSCA 601 Financial Economics
This course introduces the theory of financial decision making. The fundamental issue to be addressed in finance is the allocation of scarce resources between current consumption and future consumption (investment). The interesting questions will arise when one considers the valuation of risky investment opportunities. An additional objective of the seminar is to learn how to conduct and present research.

MSCA 602 Applied Linear Statistical Models
The course focuses on systematic treatments of linear statistical models for regression, analysis of variance and experimental design with special emphasis on applications in business and economics. Topics include regression analysis: inference, model building, diagnostics, remedial measures and validation; single-factor and two-factor ANOVA models, and analysis of covariance. Other statistical tools for specialized applications discussed may include logistic regression, path analysis and time series regression. Case studies are employed to illustrate tools for fitting, checking, validating and interpreting linear models.

MSCA 611 Research Methodology - Finance
This seminar studies several approaches that are used in conducting research in finance. There are three main objectives for this seminar: a) to provide guidance and experience in the design and critique of empirical research; b) to provide an introduction to the use of financial data bases; and c) to provide experience in the conduct of an empirial research project. Specific topics addressed include: event study methodologies, time-series issues including unit root problems and time varying volatility estimation, as well as qualitative choice methods, performance appraisal tests, and simultaneous equation estimation.

MSCA 699 Research Thesis (21 credits)
The MSc thesis is intended to provide candidates with an opportunity to carry out an in-depth investigation in a particular area of interest and to make a contribution to knowledge in the area. It is expected that the thesis will include a comprehensive and critical synthesis of the relevant literature and will also embody either a theoretical contribution to knowledge, a rigorous empirical investigation or both.

A Thesis Committee consists of a faculty member from the department as supervisor and two other faculty members. An Examining Committee consists of the Thesis Committee and a Thesis Examination Chair appointed by the Associate Dean, Research and Research Programs in accordance with the thesis regulations specified in the relevant section of this calendar.

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