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Master of Financial Management (M.F.M.)

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Program Overview

The Master of Financial Management (M.F.M.) degree program uses an integrative approach that emphasizes real-world application of knowledge and problem-solving strategies and techniques. Sustainability and organizational decision making are incorporated into and across courses. Students customize this degree by selecting an area of specialization to develop skills best suited to their academic and career goals. The M.F.M. is backed by Drake University’s full resources and reputation.

Program Requirements

  • Number of credit hours required: Thirty-three to thirty-six hours of credit are required for completion based upon prior academic experience.
  • Required courses
Course Credits
Foundation Courses: Building the Necessary Knowledge Base - This requirement can be fulfilled with recent completion of either of the following courses at the undergraduate level: 3

Principles of Accounting I and II, or Corporate Finance

MBA 242 - Evaluating Organizational Performance  
General Core: Quantitative, Financial, & Ethical Base 9
MFM 212 - Data Analysis for Decision-Making 3
MFM 250 - Corporate Governance 3
MFM 253 - Enhancing Firm Value 3
Financial Management Core: Financial Markets, Assets, and Information 15
ACCT 280 - Financial Reporting & Statement Analysis 3
ECON 280 - Business, Government, & Global Economy 3
FIN 280 - Investment Analysis & Portfolio Management 3
FIN 281 - Regulatory Environment for Financial Institutions 3
FIN 284 - Fixed Income Markets and Related Derivatives 3

Areas of Specialization/Electives - Each student must choose three courses from a group of electives designed to focus on areas of specialization.  The areas of specialization include:

  • Financial Asset Management
  • Financial Institutions Management
Additional elective options also are available.
  • Other requirements
    • BUS 205 - Leadership Essentials
      • Non-credit workshop
      • Each student must complete this elite training experience during the first semester of enrollment. This workshop focuses on communication and leadership skills. The workshop offers a competitive edge by providing you with the skills to consistently lead, influence and inform others. A handful of workshops are offered each term. Students meet over two days, Friday 1:00-8:00 p.m. and Saturday 8:00 a.m. to 4:00 p.m.
    • Any limitations and special policies (eg., G.P.A. requirement or requirements that students take certain courses at Drake):
      • G.P.A.: Maintain a 3.0 or higher.
      • Courses must be completed with a “C” or better; no more than two “C” grades may be received; the cumulative grade point must be a 3.0 or better.
      • 9 hours of graduate work may be transferred in from an AACSB-accredited university.
      • Transfer courses must be advisor-approved.
      • Courses transferred in are transferred as TR (no grade) and do not affect the Drake G.P.A.
      • Transferred coursework must be at a B level or better.
      • Transfer credits earned before admission are counted on the following scale:
        • Courses taken 0-5 years before degree completion may be transferred in as full credit.
        • Courses taken 6-10 years before degree completion may be transferred in as ½ credit.
        • Courses over 10 years old are not accepted.
        • Courses that are accepted must relate to the program of study.


  • Students may complete the M.F.M. program on either a part-time or full-time basis. Courses, however, are offered only in evening and weekend formats. There are no graduate-level daytime courses. Students wishing to be enrolled on a full-time basis must be aware that course sequencing is such that full-time status may not be possible each term of enrollment.
  • Students must be admitted to the M.F.M. program to enroll in graduate courses.


Master of Financial Management applicants must meet the following admission requirements.

  • Application Fee of $50. Applicants who have previously paid the fee are not required to do so again.
  • Official transcripts for ALL undergraduate and graduate coursework from EVERY institution attended (even if a degree was not earned).
  • Current professional resume.
  • Personal essay: A personal essay no longer than one page should explain the candidate’s reason(s) for pursuing the M.F.M. degree. Examples of leadership background and experience should be included.
  • Submission of two (2) letters of recommendation.
  • Grade Point Average Criteria: Successful candidates for admission typically have the following minimum graduate point average. Students who do not meet these G.P.A. minimums may contact the Graduate Programs Office of the College of Business and Public Administration for additional information.
    • Undergraduate GPA = 3.00 (upper division and cumulative), and
    • Graduate GPA = 3.00 (cumulative)
  • Test requirement: Applicants must submit official GMAT results. Successful candidates for admission typically have a minimum score of 500. For GMAT testing information, go to:
  • TOEFL exam: International candidates must submit TOEFL results. Minimum acceptable TOEFL score is 213 on the computer-based examination, 550 on the paper-based examination, or 79-80 on the internet-based test.
  • Application deadlines: To be eligible for consideration, applications must be received by the following deadlines.
    • Fall admission - July 15
    • Spring admission - December 1
    • Summer admission - April 1

2016-2017 Drake University Graduate and Professional Programs Catalog

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