West Texas A&M University

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Department of Accounting, Economics and Finance Finance and Economics Graduate Program

Department of Accounting, Economics and Finance

Master of Science in Finance and Economics­(M.S.F.E.)


Financial Engineer BadgeThe College of Business at West Texas A&M University offers a Master of Science in Finance and Economics (MSFE).­ The MSFE graduate program was ranked #5 in The Financial Engineer's 2016 Financial Economics Rankings of economics and finance graduate programs.­ Overall scores for the rankings are based on several factors, including the program's acceptance rate, incoming students' undergraduate GPA, employment after graduation, and starting salary.­  The program earned a 2015 #11 ranking as a best graduate business program by U.S. News & World Report.­ Best Value Schools ranks the online WT program #1 in economics and #2 in finance in 2015 for affordability.  The MSFE is designed for students who want to improve their understanding of economics and finance, particularly those interested in or already working in:

  1. Finance institutions and finance departments in business and government;
  2. Policy-oriented and community service occupations in the private and public sectors;
  3. Economic and financial consulting and advising;
  4. Teaching at the high school, community college, or instructor level;
  5. Preparation for law school or doctorate programs in economics, finance, management, or marketing. The program's orientation toward application as opposed to theory enhances opportunities for graduates in a broad range of occupations and institutions.

­The 36 credit hour MSFE program is designed for completion within a two-year period, although the degree can be completed in as soon as one year for some students. Courses can be completed on campus, via online instruction, or students have the option of combining course requirements by completing course in a combination of both campus and online instruction offerings.

The Master of Science in Finance and Economics (MSFE) degree program is also available completely online.

Full Admission Requirements

Undergraduate grade point average (GPA) of 3.0 or higher
While all applicants are encouraged to take the GMAT exam, those with an UG GPA of 3.0 or higher may opt out of taking the GMAT exam by emailing their decision to Dr. LaVelle Mlils, associate dean of graduate business programs, at (lmills@wtamu.edu)

Official transcripts from all post-secondary institutions
Three letters of recommendation (at least one letter must be a professional recommendation)*
Resume showing career progress*
Statement of goals for pursuing a graduate business degree*
Proficiency in foundation business courses

*To be emailed to Ms. Catherine Lee, Office of Graduate Business Programs (crlee@wtamu.edu)

Consideration may be provided for excellence in previous academic program, GMAT performance, career progression in
industry and/or in military service.

Degree Requirements

Students seeking a Master of Science in Finance and Economics degree must first establish proficiency in Economics, Finance, Accounting, and Statistics. This proficiency may be established by courses taken in an undergraduate program, by completing advanced standing examinations in these areas, or by taking the following courses: ECON 6300, FIN 6300, ACCT 6300, CIDM 6300.

M.S.F.E. Core Courses (21 graduate hours)

Theory of Households and Firms (select one)

­­­ ECON 6305: Seminar in Advanced Microeconomic Theory­­­
­­­ ECON 6370: Economics of Health and Medical Care
Monetary and Fiscal Policy (select one)
­­ ECON 6306: Seminar in Advanced Macroeconomic Theory
­­ ECON 6312: Seminar in Money and Banking
­­ ECON 6332: Problems in Government Finance and Fiscal Policy
Corporate Governance­(select one)
­­ FIN 5311: Corporate Governance and Ethics
­­ FIN 6350: Seminar in Financial Planning
Corporate Finance­(select one)
­­ FIN 6320: Seminar in Finance
­­ FIN 6370: Financial Management of Health Care
Asset Valuation­(select one)
­­ FIN 5320: Investment
­­ FIN 5321: Portfolio Management
­­ FIN 6322: Security Analysis
International (select one)
­­ ECON 6341: Seminar in International Economics and Economic Development
­­ FIN 5323: International Finance
­­ FIN 6323 Multinational Finance
Quantitative Analysis­(select one)
­­ ECON 6320: Econometrics
­­ ECON 6362: Advanced Business Forecasting
­­ CIDM 6305: Quantitative Analysis in Business

Additional Requirements:

  • Nine­ semester hours of graduate elective courses in economics or ­finance (excluding leveling courses ECON 6300 or FIN 6300).­
  • Six semester hours of graduate elective courses in economics, finance, accounting, or computer information & decision Management (excluding leveling courses ACCT 6300, ECON 6300, FIN 6300, or CIDM 6300).­

Upon completion of­ core coursework for the MSFE program, degree candidates take a­ comprehensive exam.­ Part of the comprehensive can be completed at home but some components normally require a campus visit.­ Students that do not reside in the Amarillo/Canyon area are encouraged to contact the Office of Graduate Business Programs for partial travel support to complete the campus component of the comprehensive exam (i.e., reimbursement for local transportation and the college covering the expense of two nights at a local hotel next to the University).­ In some extenuating circumstances, alternatives to the campus comprehensive exam can be considered.­ Students approaching the comprehensive exam stage of the program are encouraged to visit with the Office of Graduate Business Programs and faculty program advisers to help create a strategy for successful matriculation.­ ­

Learning Objectives for the MSFE Program

Goal 1: Professional Communication:
1.1 Writing:­ Demonstrate capacity to employ written presentation channels to communicate finance and economics research results.
1.2 Oral Communication:­ Demonstrate capacity to employ oral presentation channels to communicate finance and economics research results.

Goal 2: Critical Thinking:
2.1 Critical Thinking: Demonstrate capacity to use finance and economic analytical tools to analyze complex problems and recommend feasible solutions.

Goal 3: Business Environment:
3.1 Business Ethics: Demonstrate capacity to recognize and evaluate ethical dimensions of financial decisions and effects on stakeholders.
3.2 Global Business Environment: Demonstrate knowledge of the issues involved in conducting business in a diverse, global environment.

Goal 4: Finance and Economics Integration:
4.1 Theoretical Integration: Demonstrate knowledge and understanding of advanced theoretical concepts in microeconomics, macroeconomics, and financial management.
4.2 Quantitative Integration: Demonstrate knowledge and understanding of advanced quantitative and statistical skills to solve finance and economic problems.

Programs Goals, Objectives, and Rubrics

MSFE Comprehensive Exam

The­ MSFE comprehensive exam will be offered the first Friday of finals at the end of each semester.­  The comprehensive examination covers MSFE goals 2, 3, and 4 with an explicit focus on objective 4.1 and an implicit focus on objectives 2.1, 3.1, 3.2, and 4.2.­­Click on the learning objectives and study hints for exam assistance.­  Please contact Dr. Anne Macy for more information.

MSFE Program Faculty for 2015-2016

De'Arno De'Armond - Ph.D., Texas Tech University
Gary Kelley - Ph.D., Southern Methodist University
Shan Lei - Ph.D., University of Missouri
Anne Macy - Ph.D., Texas Tech University
Ryan Mattson - Ph.D., University of Kansas
Neil Meredith - Ph.D., University of Georgia
James Owens - Ph.D, Harvard University
Rex Pjesky - Ph.D., University of Oklahoma
Duane Rosa - Ph.D., Texas Tech University
Bin Shao - Ph.D., University of Illinois
Ian Strachan - Ph.D., Colorado State University
Neil Terry - Ph.D, Texas Tech University
Huabing Wang - Ph.D., University of Alabama

­For general information, please contact gradbusprograms@wtamu.edu

For specific questions, please contact:

Dr. Jonathan Shaffer, director of graduate business programs at jshaffer@wtamu.edu
Dr. LaVelle Mills, associate dean of graduate business programs at lmills@wtamu.edu or
Dr. Anne Macy, professor of finance at amacy@wtamu.edu.