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A masters degree in quantitative or mathematical finance concerns the application of mathematical methods to the solution of problems in financial economics. There are several "like-titled degrees"which may further focus on financial engineering, financial risk management, computational finance and/or mathematical finance. In general, these degrees aim to prepare students for roles as "quants", including analysis, structuring, trading, and investing; in particular, these degrees emphasize derivatives and fixed income, and the hedging and management of the resultant market and credit risk. Formal masters- level training in quantitative finance has existed only for the last 20 years.