mfe doesn't need to be installed. You can just unpack it and run it by calling __init__.py (or calling mfe/mfe.py directly). On windows you can "call" them by double-clicking them in explorer (assuming you have .py files set to open with python[w].exe). 

However, you can install mfe into the python site-packages dir if you'd like. To do so, run:

python setup.py install

On POSIX-like systems (linux, OS X...), a python script will be placed in $prefix/bin/mfe

. . . INCOMPLETE . . .

That's it.

