History
The first quantitative finance masters programs were offered by Illinois Institute of Technology in 1990, under Dr. Michael Ong. (The programs offered were the "Masters of Science in Quantitative Finance" and "Masters of Science in Financial Markets and Trading", and were combined in 2008 to become the "Masters of Science in Finance, with Financial Engineering Concentration".) The NYU-Poly Financial Engineering degree was the second program of its kind. Carnegie Mellon introduced its "Masters of Computational Finance" program in 1994. OGI's Computational Finance Program (1996, now discontinued) was the first such program based in a computer science department. Other pioneering programs in financial engineering include those at Columbia, Princeton, and MIT. Subsequent growth in the number and location of programs, has paralleled the growth of financial engineering - with its growing importance across all aspects of the financial services industries - and of risk management as professions.
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