Master of Electricity Markets

Restructuring of electricity delivery brings major changes to the electric power industry. Electricity is traded as a commodity in financial markets which affect the way electric power grids are controlled and operated. Today’s electrical engineers are compelled to understand both the technical and business sides of such changes in order to address the needs of the electric power industry.

The Department of Electrical and Computer Engineering and the Stuart School of Business have teamed up to offer a master’s degree in electricity markets. Combining courses from graduate programs in electrical engineering and in finance, the Master of Electricity Markets degree program provides graduate-level education in electricity suitable for electric power engineers. A background in finance is not required.

The admission requirements for this degree follow the existing admission requirements for other professional master’s degrees in the ECE department. Students whose accredited B.S. degree is not in electrical engineering may pursue this degree, provided that they have an adequate background and can demonstrate proficiency in the material contained in undergraduate courses equivalent to Illinois Institute of Technology's:

ECE 211
ECE 213
Circuit Analysis I
and Circuit Analysis II
ECE 311Engineering Electronics4
ECE 319Fundamentals of Power Engineering4
MATH 251Multivariate and Vector Calculus4
MATH 252Introduction to Differential Equations4

A student may demonstrate proficiency by successfully completing the courses or by demonstrating satisfactory performance in one or more special examinations administered by the ECE department.


Minimum Degree Credits 30
Maximum 400-Level Credit 12
Minimum 500-Level Credit 18
Maximum ECE Short Courses 700-Level Credit 4
Maximum Transfer Credit 9
Required Core Courses (15-16)
Select a minimum of five courses from the following:15-16
Power Distribution Engineering3
Power System Analysis3-4
Power Systems Analysis with Laboratory
Analytical Methods for Power System Economics and Cybersecurity3
Next Generation Smart Grid3
Power System Planning3
Power Market Operations3
Power Market Economics and Security3
Fault-Tolerant Power Systems3
Power System Reliability3
Deregulated Power Systems3
Power System Transaction Management3
Artificial Intelligence in Smart Grid3
Control and Operation of Electric Power Systems3
Operations and Planning and Distributed Power Grid3
Elements of Sustainable Energy3
Elements of Smart Grid3
Microgrid Design and Operation3
Finance Courses (6)
Select a minimum of two courses from the following:6
Statistical Analysis in Financial Markets 13
Financial Modeling 13
Valuation and Portfolio Management3
Futures, Options, and OTC Derivatives3
Models for Derivatives3
MSF 526
Corporate Finance3
Market Risk Management3
MSF 584
General Electives (9)
Select nine credit hours of electives from ECE 400-7999
Total Credit Hours30-31

A student can take MSF 502 or MSF 503, but only one can be counted toward the degree program.