Financial Data Analytics (MFDA)

Program information

The Master of Financial Data Analytics (MFDA) program aims to train highly qualified finance professionals with computational skills essential for success in today’s ever-changing financial markets. MFDA is the first program in Canada to combine finance, information technology and data analytics, especially AI programming and applications. Students are expected to gain sufficient knowledge and experience in the field of financial data analytics required to be hired in the finance industry upon graduation. Applicants can come from a variety of educational backgrounds, from business, economics and finance, to mathematics, computer science, information technology and other quantitative areas. The MFDA is a Global Association of Risk Professionals (GARP) Academic Partner; the program curriculum equips students with the required knowledge to approach Part I Exam of the Financial Risk Manager (FRM) professional certification.

Admission requirements

In addition to the general admission requirements for graduate studies, MFDA applicants must meet the following program‐specific requirements. 

While applicants may hold any four-year undergraduate degree (or its three-year equivalent from a recognized institution in countries where it is the accepted practice), preference is given to applicants whose undergraduate degree is in the field of business, economics, finance,  information technology, computer science, modelling and computer science, engineering, mathematics, statistics, physics, actuarial science, or other quantitative fields.

While not required, GMAT/GRE/CFA Level 1 may be recommended to strengthen your application or in lieu of GPA requirement.

A statistics course is required. Linear algebra and calculus are highly recommended. 

If applicable, a minimum score of 7 on the IELTS or 100 on the TOEFL. (Note that these English language proficiency scores are slightly higher than those required for some other graduate programs.) Visit the English language proficiency section of this calendar for additional details. There may be an interview for applicants prior to admission

Degree requirements

Students are required to complete eight courses and either an Applied Financial Data Analytics Project or a Financial Data Analytics Internship, for a total of 30 credits.

Core courses

• MFDA 5100G - Financial Management
• MFDA 5200G - Investments
• MFDA 5400G - Financial Econometrics

Electives (take five)

• MBAI 5100G - Business Analytics
• MBAI 5300G - Programming and Data Processing
• MBAI 5310G - Artificial Intelligence Programming
• MFDA 5300G - Financial Derivatives Securities
• MFDA 5500G - Financial Risk Management

Electives for non‐Business graduates

Students with a non‐Business undergraduate degree can select from the courses below to replace the MBAI electives listed above.

• BUSI 5010G - Foundations of Business
• BUSI 5100G - Accounting Systems

Course listing

• BUSI 5010G - Foundations of Business
• BUSI 5100G - Accounting Systems
• MBAI 5100G - Business Analytics
• MBAI 5300G - Programming and Data Processing
• MBAI 5310G - Artificial Intelligence Programming
• MFDA 5100G - Financial Management
• MFDA 5200G - Investments
• MFDA 5300G - Financial Derivatives Securities
• MFDA 5400G - Financial Econometrics
• MFDA 5500G - Financial Risk Management
• MFDA 5600G - Applied Financial Data Analytics Project
• MFDA 5700G - Financial Data Analytics Internship

Program learning outcomes

The following outcomes outline the knowledge and skills students will have achieved upon completion of the program.