 Rubinstein popularized the term "exotic option" in 1990/92 working paper "Exotic Options" (with Eric Reiner), with the term based either on exotic wagers in Horse racing, or due to the use of international terms such as "Asian option", suggesting the "exotic Orient".He was involved in teaching courses in the Haas/Berkeley Master of Financial Engineering (MFE) Program , an academic program that is focused on equipping candidates with skills in financial engineering for careers as financial quantitative analysts.He has been instrumental in building the program, considered by many as the number one financial engineering program in the US.