institutions undertake the financial sector's mobilization of resources. Crucial
to the sector's growth is its managerial manpower.
The effort in developing such managers had been through MBA programs that
offer elective courses in financial management. However, MBA programs remain
mainly oriented toward training generalist business managers. As a result,
substantial resources are still expended in non-formal special training in
Furthermore, the growing size and complexity of the Philippine finance sector
has created the need for a specialized degree program in finance.
In accordance with UP's mandate to be at the forefront of learning and
advanced education, the University became convinced about the financial services
industry's need for a master's program in finance.
In June 1995, with the strong representations from prospective students and
finance practitioners, UP finance faculty members conceptualized and designed a
master's program in finance. This proposal was later refined by the faculty of
the Department of Accounting, Finance, Economics and Law, and by the business
community. The latter group included officers and members of the Financial
Executives Institute of the Philippines (FINEX) and the Bankers Association of
the Philippines (BAP). Visiting professors from US and Canadian universities
with which UP has academic linkages further reviewed the proposed program. All
these inputs, taken together, led to the final design of the "MS in Finance
In accordance with established processes in the University, the Program was
approved by the faculty of the College of Business Administration (January 3,
1996), the University Council (April 15, 1996), and the Board of Regents (April
Philosophy & Objectives
This Program's theoretical orientation is blended with a significant amount
of attention for pragmatic application. Each course is structured around a
theoretical framework and gives greater emphasis on current research and
The Master of Science in Finance degree Program aims to prepare the student
for a career in financial management, specifically to undertake the various
financial management functions in managing financial institutions, as well as
the functions of the financial manager or the treasurer in non-financial
institutions. The Program also intends to prepare the student for
responsibilities in regulatory and policy-making functions affecting financial
markets and institutions.
To prepare the student for a finance career, he/she shall pursue studies that
shall provide a solid foundation in finance and a mastery of the relevant
literature, theory and application. The Program provides the student with a
strong foundation on theory, principles, and concepts of finance. In addition,
the student is introduced to analytical tools and perspectives that shall
provide a firm basis for financial decision-making. The Program has rigorous
course requirements and demands high levels of energy and commitment from the
student. The student shall work in depth in each course through proper balancing
of finance theory and research literature (on one hand) with the practical
aspects of financial management (on the other). Empirical research work shall be
combined with the case-study approach.
Although anchored on concepts, theories, tools and techniques, the Program
has a decision-making orientation because it is dedicated to the development of
the managerial manpower for the finance sector.
The target students are those performing (or who shall perform) key
managerial functions in firms in the financial services sector, or their
counterparts in the non-financial sectors (particularly those performing finance
and treasury functions) and in government.
The required skills and knowledge for finance practitioners appear to be the
1. Finance management of banks and other financial institutions.
2. Corporate financial management.
3. Familiarization on:
a. the financial services sector;
b. traditional financial markets (money and capital market) and
non-traditional markets (warrants, options and futures);
c. regulatory, fiscal and monetary policies as they affect the sector;
d. key securities/documents that are the subject of transactions in the
4. International finance (the system's linkage with external financial
The Program only admits new students to start in June.
The basic prerequisite for admission is a four-year bachelor's degree, or its
equivalent. No preference is given to business degree holders. Applicants with
substantial work experience are generally preferred. Those who are fresh out of
College are not admitted.
All local applicants are required to take the CBA Graduate Programs Admission
Test (GPAT) consisting of logic, reading and quantitative exams administered
before Program opening. In the case of foreign applicants, the Graduate
Management Admission Test (GMAT) may be taken in lieu of the GPAT. Applicants
from non-English speaking countries are required to submit a TOEFL test score.
GMAT and TOEFL scores that are more than five years old are not acceptable.
However, all admitted applicants are expected to acquire (if not yet present)
a minimum level of proficiency in accounting, statistics and mathematics. For
this purpose, the Program offers workshops or noncredit courses before school
opening for those whose backgrounds show deficiencies in these areas. Students
are expected to be proficient in using computers. Admitted applicants from
non-English speaking countries may be required to complete an intensive English
course prior to the Program opening.
Considering the knowledge and skills requirements described in the preceding
section, the minimum level of proficiency in the following areas should be
present prior to entry to the Program.
1. Accounting (fundamentals);
2. Quantitative Methods (basic statistics and mathematics); and
3. Computer Literacy.
Prior background in economics and business law is desirable, but not
necessary for entry, as these will be taken up in the core courses.
1. Accomplished Application Form
2. Original Transcript of Records
3. NSO Birth Certificate (photocopy)
4. Certificate of Employment
5. 2 x 2 photo (2 copies)