Finance

Program Description

The master of science (MS)* in finance is designed to provide a quantitative and comprehensive examination of the finance field. Students will advance through corporate finance, investments, and market instruments and institutions. Additionally, students will experience significant exposure to supporting coursework in the closely related fields of accounting and economics. A capstone experience will tie together the major finance topics, with a significant focus on mergers and acquisitions, and will expose students to literature, and the analysis thereof, pertinent to the field.

After a comprehensive examination of the field, students may choose their electives to satisfy their specific career goals. Students desiring to take advanced certification, such as the CFA (Chartered Financial Analyst) or CFP (Certified Financial Planner), will want to take advanced courses in Derivatives, Financial Statement Analysis, Investments and Portfolio Management, while students interested in pursuing careers in other fields may want to take Entrepreneurial Finance, or similar advanced topics offered by the George Herbert Walker School of Business & Technology.

This program is offered online, at the St. Louis home campus, and at select campuses in the United States and internationally. Please see the Campus Locations section of this catalog for a list of campuses where this program is offered.

*NOTE: The master of science (MS) is abbreviated as MSc in Vienna.

The master of science in finance is accredited by the Accreditation Council for Business Schools and Programs (ACBSP).

Learning Outcomes

• Students can determine the value of financial assets.
• Students can analyze the financial decisions of a corporation.
• Students can evaluate credit and interest rate risk.

Program Curriculum

The master of science in finance requires successful completion of 36 credit hours including 27 required credit hours and 9 credit hours of electives. The following courses are required for the master of science in finance:

• BUSN 6070 Management Accounting (3 hours)
• BUSN 6120 Managerial Economics (3 hours)
• FINC 5000 Finance (3 hours)
• FINC 5210 Investments (3 hours)
• FINC 5810 Capital Budgeting and Corporate Investments (3 hours)
• FINC 5830 Institutions and Financial Markets (3 hours)
• FINC 5840 International Finance (3 hours)
• FINC 5880 Advanced Corporate Finance (3 hours)
• FINC 6290 Mergers and Acquisitions (3 hours)

Prerequisites

• BUSN 5600 Accounting Theory and Practice (3 hours)
• BUSN 5620 Current Economic Analysis (3 hours)
• BUSN 5760 Applied Business Statistics (3 hours)

Note: Program prerequisites are to be completed before beginning coursework for the master of science in finance for those students who have not completed prerequisite courses (or an appropriate equivalent) within five years of entering the program and having earned a grade of B or better. If the appropriate prerequisite course content was completed longer than five years prior to entering the program, the department will allow a waiver if the student demonstrates a command of the content area by successfully completing a waiver examination. The prerequisite courses BUSN 5600 and BUSN 5620 may not count as electives in the 36-credit-hour master of science in finance.

Dual Degree Option: MBA/MS Finance

The MBA/MS finance dual degree option requires the completion of 48 credit hours: 2 courses (6 credit hours) that are required for both programs, 6 required courses (18 credit hours) in the MS in finance, and 8 required courses (24 credit hours) in the MBA.

Upon completion of the 48 credits, two separate diplomas are issued at the same time. The two degrees cannot be awarded separately or sequentially under this arrangement.

MBA/MS Finance Dual Degree Curriculum

• BUSN 5760 Applied Business Statistics (3 hours)
• BUSN 6070 Management Accounting (3 hours)
• BUSN 6110 Operations and Project Management (3 hours)
• BUSN 6120 Managerial Economics (3 hours)
• BUSN 6200 Strategy and Competition (3 hours)
• FINC 5000 Finance (3 hours)
• FINC 5880 Advanced Corporate Finance (3 hours)
• MNGT 5590 Organizational Behavior (3 hours)
• MNGT 5990 Corporate Responsibility and Society (3 hours)
• MRKT 5000 Marketing (3 hours)
• FINC 5210 Investments (3 hours)
• FINC 5810 Capital Budgeting and Corporate Investments (3 hours)
• FINC 5830 Institutions and Financial Markets (3 hours)
• FINC 5840 International Finance (3 hours)
• FINC 6290 Mergers and Acquisitions (3 hours)
• FINC XXXX One FINC Elective course to meet requirements (3 hours)

Application Requirements

• An International Application. Non-U.S. citizens, U.S. citizens applying from outside the U.S. and any student applying to a campus outside the United States should apply online at www.webster.edu/apply. A non-refundable application fee of $50 is required. Application fees vary based upon the campus location, please contact the campus you wish to attend.
• Official transcripts from the educational institution from which the student earned their first bachelors-level degree. For U.S. institutions, this means accreditation from a regional accrediting body. Non-U.S. institutions must be recognized by the Ministry of Education as a university-level provider of higher education and accredited by any appropriate agencies within the home country and any countries in which it operates and/or issues degrees. This transcript and/or diploma must show the degree received and the date conferred. Applicants previously enrolled in graduate-level coursework must submit official transcripts of that work.

Note: Graduate applicants who apply and are provisionally accepted either by submitting unofficial transcripts or before completing their undergraduate degree must submit a final transcript indicating the degree received and the date conferred. If transcripts do not indicate degree or conferral date a copy of diploma is required. This official transcript must be on file within eight weeks from the beginning of the student's starting term for full acceptance to the University.

To be considered official, transcripts must be received by Webster University directly from the issuing institution. If the student is to deliver transcripts, they must be in sealed, unopened envelopes and certified with the official seal of the issuing institution. All official transcripts and documents in a language other than English must be accompanied by a certified English translation.

Additional Application Requirements

• Documentation of English Language Proficiency: All applicants, regardless of program or enrollment location, whose primary language is not English must document their English language proficiency at the time of application. Applicants normally satisfy this requirement by submitting official Test of English as a Foreign Language (TOEFL), Academic IELTS, or Pearson scores.
• A 300- to 400-word essay on a topic of your choice. You may describe a special interest, experience, or achievement or a curriculum vitae (résumé) that documents prior employment and experience.
• One letter of recommendation from a professor and/or an employer.
• Additional official documentation may be required depending upon an applicant's program of interest or previous educational background. See program page for details.
• Applying for a visa: Students requiring a visa to study in the country in which their campus is located will be required to provide additional documentation for the visa process. Visa documentation requirements can vary at international campus locations depending upon the applicant's citizenship status and/or country of origin at the time of acceptance to the University. Applicants should check with the campus they plan to attend for specifics. The University will notify applicants if additional documentation is required to complete the application file. For current information, please contact the campus at which you plan to enroll.

English Language Proficiency

Applicants whose primary language is not English must document their English language proficiency at the time of application. Applicants normally satisfy this requirement by submitting official scores within the past two years of the Test of English as a Foreign Language (TOEFL) or Academic IELTS scores. The scores required for admission are as follows:

• TOEFL: iBT - 80
• IELTS: Academic: 6.5
• Pearson: 61

Equivalent Cambridge, Oxford, NEAB, TEEP, Academic IELTS, and London Certificate test results that are current can be considered in lieu of the TOEFL. Students who cannot document current evidence of English proficiency should contact the campus to which they are applying for possible on-site testing. In such cases, testing must be completed before the admission decision will be made. Webster University will refer for testing any applicant for admission about whose English language proficiency an admissions officer has concerns. All English as a Second Language (ESL) recommendations and requirements are a condition of the applicant's admission, enrollment, and/or continued enrollment at the University.