M.S. in Aviation Finance

Worldwide Embry-Riddle Masters Aeronautical Science

The Master of Science in Aviation Finance (MSAF) degree is for those students wishing to pursue a dedicated curriculum in the field of aviation finance.  The courses in the program deliver the required knowledge of the business and operational aspects of the aviation / aerospace industry while presenting the needed classes in economics, accounting and financial practices and models used by firms not just in the aviation industry but business across the globe.

With the MSAF, Embry-Riddle addresses an increasingly important need of the global air transport industry.  Among the trends in the industry indicating the importance of the MSAF are:

  • the growth of the aircraft leasing industry
  • the number and volume of global aircraft sales predicted into the future
  • the entry of new financial firms at all levels of aircraft financing (corporate, general and  commercial aviation)
  • the role financial management of resources (for example, fuel hedging contracts) has on airline profitability
  • the need to find the means of financing to build critical aviation infrastructure

Students possessing an undergraduate degree in business, accounting, finance or economics, or related transportation fields of study should meet the prerequisites for the MSAF.  Students from other majors are accepted into the MSAF program but would need to demonstrate undergraduate classes in economics, accounting, finance and statistics. 

For those not able to document past course work in the above areas, the appropriate ERAU undergraduate class(es) ECON 210 - Microeconomics, ECON 420 – Economics of Air Transportation, MGMT 210 – Financial Accounting,  MGMT 332 – Corporate Finance I, MATH 222 – Business Statistics)  may be required  before graduate level course work in the subject area may commence.  These would be in addition to a student potentially being required to take BUSW 500 - Business Foundations (see below). Furthermore, for entry into the program, besides needing to meet current ERAU graduate admission requirements, students would be required to take the GRE exam to complete entry requirements.

Program Specific Criteria

Applicants for admission to the MSAF program are required to take the Graduate Record Examination (GRE)(please see http://www.ets.org/gre for more information). Students who have not taken the GRE and/or achieved the minimum score will not be permitted to register for MSAF classes regardless of their status. Coordinators may waive the requirement if another master degree has been completed. The student should possess a strong academic record, generally evidenced by a CGPA of 3.00 or higher.

Structure of the MSAF degree is 14 classes/42 credit hours. To complete the MSAF degree, two program options are available to the student: either a research project in the financial area of study or an internship in the financial, banking, leasing sectors of the aviation/aerospace industry.

DEGREE REQUIREMENTS

Prerequisite Course (if required)
BUSW 500Business Foundations *3

Core/Major

Aviation Management Core12
MBAA 514Strategic Marketing Management in Aviation3
MBAA 517Managerial Accounting for Decision Making3
MBAA 523Advanced Aviation Economics3
MBAA 612Air Carrier, Passenger, and Cargo Management3
Required Finance Courses30
FIND 516Financial Accounting3
FIND 518Managerial Finance3
FIND 613Financial Modeling3
FIND 615Investments3
FIND 618Advanced Corporate Finance3
FIND 619Economic Modeling3
FIND 620Air Transport Economic Modeling3
FIND 621International Aviation Finance3
FIND 622Aircraft and Airline Financing3
FIND 699Special Topic in Finance3
Total Degree Requirements42

 *If students do not have the prerequisite knowledge for MBAA 514, MBAA 517, and MBAA 523, students will take BUSW 500.