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Degree programmes (first-cycle,second-cycle, long-cycle) - 2021/2022

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Quantitative Finance, part-time (evening), second cycle

Details
Code NW2-FI
Organizational unit Faculty of Economic Sciences
Field of studies Quantitative Finance
Form of studies part-time (evening)
Level of education Second cycle
Educational profile academic
Language(s) of instruction English
Minimum number of students 5
Admission limit 40
Duration 2 years
Recruitment committee address rekrutacja@wne.uw.edu.pl;
admissions@wne.uw.edu.pl
WWW address https://www.wne.uw.edu.pl/pl/
Required document
  • Higher education
  Ask about this programme
Phase 1 (07.06.2021 00:00 – 05.07.2021 23:59)

The Quantitative Finance Program at the Faculty of Economic Sciences, University of Warsaw is a four-semester program on a full-time basis that provides students with outstanding knowledge of modern quantitative finance.


„Quantitative Finance” is the 12th best program in Eduniversal TOP 100 Best Masters 2021 in Financial Markets.

The distinctive feature of this program is that it combines the overall fundamentals of economic theory with specialized knowledge in finance. The basic aim of this specialization is to provide students with theoretical knowledge from the field of quantitative finance combined with its practical applications in financial institutions, taking into account the latest trends in financial world.

The degree combines economic methods, quantitative techniques and state-of-the-art financial analyses to give students a strong background from which to pursue their careers. Students are encouraged to develop their abilities to use economic analysis in a variety of finance-related problems. Significant course work is devoted to the development of mathematical and statistical skills. These skills are necessary to evaluate the uncertain outcomes found in financial applications. The program provides student with the opportunity to apply their knowledge and skills to projects that utilize financial tools and techniques.

The curriculum is intended to prepare students to tie up their careers with financial institutions, where they will be able to:

  • deal with complicated derivatives pricing models (Derivatives Markets, Equity and Fixed Income,Theory and Practice of Option Pricing, C++ in Quantitative Finance, Computational Finance),
  • manage the various risks in financial institutions (Risk Analysis and Modeling, Corporate Finance),
  • simultaneously gain the competence of managing the portfolio of assets considering the ongoing changes in financial environment (Asset Allocation and Investment Strategies and Financial Statement Analysis),
  • get profits knowledge about the latest achievements in financial research (Empirics of Financial Markets).

Presented knowledge and skills will be enriched with the proper dose of economic theory (Advanced Microeconomics and Advanced Macroeconomics), courses in mathematics and econometrics (Mathematical Methods in Finance, Time Series Analysis, Quantitative Strategies. High Frequency Data) and courses which present the architecture of the financial world (Theory of Finance), which help the students not only to understand the complicated world of financial models but to find a proper place for themselves in it as well.

The program assumes that students will be equipped with theoretical knowledge and practical applications which enable them to take independent decision basing on the real-time financial data with use of tools and techniques dynamically developing in modern finance. 2007-2009 capital market turmoil were the best illustrations that there is lack of high-quality professionals who treat this subject as the main point of expertise.

The QF track is intended to prepare students for a wide range of careers inside and outside the financial industry including financial engineering and risk management, macroeconomic and financial forecasting, quantitative asset management, quantitative trading and applied research.

During the curriculum students acquire mathematical background in areas of:

  • probability and statistics;
  • portfolio theory;
  • equity and interest rate derivatives, including exotics;
  • linear algebra and differential equations;
  • differential, integral and stochastic calculus.

We teach our students how to:

  • apply mathematical models to support more accurate asset pricing, stock selection, asset allocation, investment portfolio analysis or securities trading;
  • quantify statistical parameters, such as volatility and correlation of returns, to achieve new ways of assessing risk and designing effective hedging strategies;
  • perform computerized algorithmic trading which replaces the traditional process subjective trading decisions;
  • validate models, conduct research and create new strategies;
  • provide to traders pricing and trading tools;
  • search for market-neutral investment strategies;
  • price options, convertibles and other derivatives;
  • control and manage risk;
  • model the behavior of financial markets.

Additionally, the planned curriculum and the level of difficulty of courses assume solid background for students who wish to conduct independent research and continue their education on Ph.D. studies in the field of finance at Polish and foreign universities.

 


Admission rules for candidates with Polish diplomas

The maximum amount of points available to obtain in the admission procedure is 100.

Minimum number of points required to be qualified: 30

Candidates must:

1) hold a bachelor, master, engineer or equivalent degree,

2) provide a Research Experience Letter - a document presenting description of the experiences related to the field of study they are applying to, confirmed by project supervisors. Projects implemented as part of studies, student activities, research work and professional experience will be considered. Minimum two projects should be presented.

Research Experience Letter should consist of:

  • Description of the projects and the nature of the candidate's participation in the projects
  • Data and supervisor function of each project
  • Confirmation by the project supervisor(s) with the signature / stamp of the data contained

A scanned version of Research Experience Letter should be uploaded to the Candidate’s personal account in the Candidate’s registration system (IRK).

3) present a transcript of records for the relevant undergraduate cycle (diploma supplement from the EU or the equivalent in other countries).

A scanned version of Research Experience Letter should be uploaded to the Candidate’s personal account in the Candidate’s registration system (IRK).

4) Qualification is based on the ranking list.

Ranking points are the sum of the following elements:

  • Research Experience Letter (maximum 30 points)
  • value of the candidate's achievements (10 points);
  • connection of projects with the scope of studies for which the candidate is applying (10 points);
  • relationship between the recommender and the candidate's educational / professional career (10 points).
  • points awarded for subjects completed during previous studies (maximum 70 points).

Candidate can receive maximum 10 points for each subject.

Taken under consideration is the final grade obtained from the subject and the 'research university' status of the institution issuing the diploma (Competition of the Ministry of Science and Higher Education "Initiative of Excellence - Research University") in the year of recruitment for studies at the University of Warsaw.

The amount of points for each subject is the product of:

  • final grade (Results obtained in a different scale than that used at the University of Warsaw, 2-5, will be compared to it)
  • coefficient for the status of a research university, having the status of a research university - factor 2, none - factor 1.5.

5) Subjects taken under consideration during the qualification procedure.

Candidate may choose maximally 7 subjects. In the application form, the candidate indicates the subjects completed in the previous studies, having at least 3 ECTS points, equivalent to the following subjects:

  • Microeconomics
  • Macroeconomics
  • Mathematical Statistics
  • Probability Calculus
  • Econometrics
  • Mathematical Analysis (Mathematical Calculus)
  • Finance
  • Data Science Programming in R, Python, SAS
  • Object-oriented programming in C++, C#, Java
  • Data processing in SQL (or another language)
  • Time-series analysis
  • One chosen mathematical or financial subject (another than subjects listed above, choose only one subject)
  • Commercial/ academic projects (you can submit two projects)

The candidate is required to enter in the application form the number of ECTS points from the selected subject, the obtained grade and the scale of grades.

The subject indicated by the Candidate must have a minimum number of 3 ECTS points, or in the absence of ECTS points, 30 hours of classes. One subject may be indicated only once, however, if the indicated subject covers more than one of the above subjects, the candidate may indicate the subject more than once, if the number of ECTS points is a multiple of the required number of points - min. 3 ECTS points for one subject or 30 hours of classes for one subject.

If the above condition is not met or more than 7 required items are indicated, the Admission Committee reserves the right not to consider the candidate in a given recruitment round; whereby the Candidate may take part in the next recruitment round.

6) Before completing the registration procedure, the candidate must attach syllabuses of selected subjects or another document, confirming the substantive content of the subject, confirmed by the university. Items for which this condition is not met will not be considered by the the Admission Committee.

In addition, candidates are required to upload to the Candidate’s personal account in the Candidate’s registration system (IRK) a document, recognised by the University of Warsaw, confirming their proficiency in English at least on B2 level.

Information on documents certifying knowledge of English language. >> Check! <<

 

Admission procedure for candidates with foreign diplomas

The maximum amount of points available to obtain in the admission procedure is 100.

Minimum number of points required to be qualified: 30

1) Candidates must hold a bachelor's, engineering, master's degree or equivalent degree from any field of studies.

2) Candidates must provide a Research Experience Letter - a document presenting description of the experiences related to the field of study they are applying to, confirmed by project supervisors. Projects implemented as part of studies, student activities, research work and professional experience will be considered. Minimum two projects should be presented.

Research Experience Letter should consist of:

  • Description of the projects and the nature of the candidate's participation in the projects
  • Data and supervisor function of each project
  • Confirmation by the project supervisor(s) with the signature / stamp of the data contained

A scanned version of Research Experience Letter should be uploaded to the Candidate’s personal account in the Candidate’s registration system (IRK)

3) Candidates should present a transcript of records for the relevant cycle of studies (diploma supplement from the EU or the equivalent in other countries).

A scanned version of transcript of records/diploma’s supplement should be uploaded to the Candidate’s personal account in the Candidate’s registration system (IRK)

4) Qualification is based on the ranking list.

Ranking points are the sum of the following elements:

  • Research Experience Letter (maximum 30 points)
  • value of the candidate's achievements (10 points);
  • connection of projects with the scope of studies for which the candidate is applying (10 points);
  • relationship between the recommender and the candidate's educational / professional career (10 points).
  • points awarded for subjects completed during previous studies (maximum 70 points),

Candidate can receive maximum 10 points for each subject.

Taken under consideration is the final grade obtained from the subject and the position in the ranking of the institution issuing the diploma (Academic Ranking of World Universities (ARWU), also known as Shanghai Ranking) in the year of recruitment for studies at the University of Warsaw.

The amount of points for each subject is the product of:

  • final grade (Results obtained in a different scale than that used at the University of Warsaw, 2-5, will be compared to it)
  • coefficient for the position of the Candidate's university in the Shanghai Ranking. Position 1-500 - factor 2, further positions - factor 1.5.

5) During the verification process, the Admission Committee takes under consideration following subjects. Candidate can choose maximum 7 subjects.

Candidate may choose maximally 7 subjects. In the application form, the candidate indicates the subjects completed in the previous studies, having at least 3 ECTS points, equivalent to the following subjects:

  • Microeconomics
  • Macroeconomics
  • Mathematical Statistics
  • Probability Calculus
  • Econometrics
  • Mathematical Analysis (Mathematical Calculus)
  • Finance
  • Data Science Programming in R, Python, SAS
  • Object-oriented programming in C++, C#, Java
  • Data processing in SQL (or another language)
  • Time-series analysis
  • One chosen mathematical or financial subject (another than subjects listed above, choose only one subject)
  • Commercial/ academic projects (you can submit two projects)

The candidate is required to enter in the application form the number of ECTS points from the selected subject, the obtained grade and the scale of grades.

The subject indicated by the Candidate must have a minimum number of 3 ECTS points, or in the absence of ECTS points, 30 hours of classes. One subject may be indicated only once, however, if the indicated subject covers more than one of the above subjects, the candidate may indicate the subject more than once, if the number of ECTS points is a multiple of the required number of points - min. 3 ECTS points for one subject or 30 hours of classes for one subject.

If the above condition is not met or more than 7 required items are indicated, the Admission Committee reserves the right not to consider the candidate in a given recruitment round; whereby the Candidate may take part in the next recruitment round.

6) Before completing the registration procedure, the candidate must attach syllabuses of selected subjects or another document, confirming the substantive content of the subject, confirmed by the university. Items for which this condition is not met will not be considered by the the Admission Committee.

In addition, candidates are required to upload to the Candidate’s personal account in the Candidate’s registration system (IRK) a document, recognised by the University of Warsaw, confirming their proficiency in English at least on B2 level.

Information on documents certifying knowledge of English language. >> Check! <<

 

Deadlines

Announcement of results: 19th of July, 2021

Reception of documents: 

  • I round: 20th-22nd of July, 2021
  • II round (in case of not fulfilling the limit during I round): 23rd, 26th of July, 2021
  • III round (in case of not fulfilling the limit during II round): 27th-28th of July, 2021
  • additional rounds will be announced in case of not fulfilling the limit of available places

 

Payments

Application fee

Student's ID payment (ELS)

The studies are payable - tuition fees

 

Required documents

List of required documents submitted by candidates qualified for studies

 

Additional information

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