MSFE Capstone

A Master’s Thesis is a work of original research into the theory or practice of Financial Engineering. This work must be guided by a faculty mentor from the start. Approval to begin a Master’s Thesis is granted after the student and the faculty mentor submit an acceptable thesis proposal to the capstone advisor. Such a proposal lays out the questions to be addressed, the work to be done, the time frame for completion of the work, and a literature review sufficiently extensive to convince the advisor that the work is new and interesting and that the student has the background knowledge to begin the effort. Students must comply with the Tandon School of Engineering Thesis guidelines, which can be found at MS Thesis Guidelines.

A Capstone Project is the creation of an analysis, tool, product, or other object of potential value to the financial community. Such a project must be guided by a mentor from the start; this person can come from either NYU Tandon School of Engineering’s faculty or from industry. The student and the mentor must jointly submit an acceptable project proposal to the capstone advisor to gain permission to begin a project. Such a proposal outlines the work to be done, the resources required, the potential value of the finished product, the project’s milestones, a demonstration that the student is intellectually prepared to begin the project, and a statement that the mentor will allocate the time necessary to guide the student to completion. The project must be rigorous enough to warrant the granting of three academic credits; a report detailing the outcome of the project must be filed before the work can be considered complete. The advisor reserves the right to require any student to orally defend their project in a public oral presentation.

Learn more about Industry-Hosted Projects.

Students may satisfy the capstone requirement by completing with passing grades 3 credits (2 courses of 1.5 credits each or one 3.00 credit course) of courses marked in the FRE section of the NYU Tandon School of Engineering catalog as “special topics” or “topics”, and by writing a report that contains two original essays, one for each course taken. The students must provide a thorough analysis of the chosen subjects and may draw their arguments and examples from the material taught in class. Furthermore, the essays must correctly and fully attribute all source material.

Must complete two.

Students may complete two (1.5 credits each) internships over a period of two semesters to complete the 3-credit capstone requirement. An internship in financial engineering is defined by our department as the employment of an MSFE student in a challenging, educational, and relevant position in the financial industry. FRE internships should provide the opportunity for intellectual growth and a career-building experience. Internships are managed by industrial employers and must be approved in advance by the capstone advisor. For approval, students will need to provide a document (on company letterhead) that includes a job description, the number of hours per week, the start and end dates, the name of manager, the name and contact information of a specific contact person, the company and group names, the pay rate and location. This should be signed by the hiring manager or Human Resources. Internship dates must fall within the dates of the academic term, and the number of hours worked should be at least 240 in total. Internships taking place over the summer may be done on a full-time or part-time basis and should have a minimum length of 8 weeks. Fall or spring term internships are normally part-time (up to 20 hours/week) and must take place over a period of at least 12 weeks.

Students interning in their final semester of study and taking a maximum of 3 credits in addition to the internship are eligible to work full-time. Requests to work full-time will need to be vetted by the Office of Graduate Academics to confirm that students are academically eligible to work full-time.

A report must be presented to the advisor at the completion of the internship.

Learn more about Internship Requirements & Frequently Asked Questions.