M.S. in Aviation Finance
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.
|Prerequisite Course (if required)|
|BUSW 500||Business Foundations *||3|
|Aviation Management Core||12|
|MBAA 514||Strategic Marketing Management in Aviation||3|
|MBAA 517||Managerial Accounting for Decision Making||3|
|MBAA 523||Advanced Aviation Economics||3|
|MBAA 612||Air Carrier, Passenger, and Cargo Management||3|
|Required Finance Courses||30|
|FIND 516||Financial Accounting||3|
|FIND 518||Managerial Finance||3|
|FIND 613||Financial Modeling||3|
|FIND 618||Advanced Corporate Finance||3|
|FIND 619||Economic Modeling||3|
|FIND 620||Air Transport Economic Modeling||3|
|FIND 621||International Aviation Finance||3|
|FIND 622||Aircraft and Airline Financing||3|
|FIND 699||Special Topic in Finance||3|
|Total Degree Requirements||42|