University of Warsaw / Faculty of Economic Sciences

Finance, Investments and Accounting, specialization: Quantitative Finance

Level of study: second-cycle Form of study: full-time Education profile: academic Duration: 2 years

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Fields of studies and specializations

Conducting units

Enrollment

from 2018-02-27 to 2018-04-04 23:59:59

Limit of students

15

Language

English

Description

The minimum number of persons admitted (within all paths of qualifications) to being the subject of study start: 5

Programme description

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

The distinctive feature of this programme 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. Quantitative Finance programme was designed after the detailed analysis of many other similar programmes: Quantitative Finance, Financial Econometrics, Financial Engineering and Financial Economics, which are taught at the best universities worldwide.

The programme is designed for students who majored in economics, mathematics, business or social sciences and want to make quantitative finance their main field of study. 

Programme objectives

The basic advantage of the new programme is the shift from the general idea to the details and focus on the theme of quantitative finance, which is essential in any advanced approach to modelling financial markets. The additional advantage of this concept is their uniqueness on the Polish educational market, based on what the students at the beginning have the upper hand to the „rivalry”.

Quantitative Finance is prepared to connect the theoretical knowledge with its practical applications. However, most of the courses will include these two approaches simultaneously:

  • Theoretical introduction (describing models and theories) and
  • Practical applications of these theories in the world of finance, which help the students to gain practical insights into the process of implementation of specific models and techniques on the capital market.

Prerequisites

 The minimum requirement for entry into Quantitative Finance programme is generally a completed Bachelor's degree. However some courses require the completion of specific lectures taught on the undergraduate (Bachelor) level. Please see the individual syllabuses for detailed information relating to the specific course included in the curriculum.

Generally, to be eligible for Quantitative Finance programme, applicants are required to have passed the following courses called “program prerequisites” or their equivalents on the Bachelor level:

  • Microeconomics, Macroeconomics, Finance,
  • Mathematical Analysis (Mathematical Calculus), Linear Algebra, Probability Calculus,
  • Mathematical Statistics, Econometrics,

These courses indicate the academic background that it is assumed students entering the program will have. Studying these subjects is highly desirable but is not a requirement of admission. 

Graduate Profile

Quantitative Finance programme prepares 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.

This programme 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 turmoils were the best illustrations that there is lack of high-quality professionals who treat this subject as the main point of expertise.

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.

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.

More information: the website of programme

Admission rules

The programme is open to all international and Polish applicants. Candidates must:

  • Ÿhave a bachelor, master, engineer or equivalent degree,
  • confirm proficiency of English at least at B2 level: accepted certificates: Cambridge/FCE, CAE, CPE, BEC, CEIBT, IELTS, TOEFL, TSE, as well as diplomas of UW NKJO. The requirement does not apply to candidates graduated from high school or college with English as language of instruction,
  • Ÿsubmit a statement of purpose/cover letter and two letters of recommendation from academics with at least PhD degree, who know the candidate personally,
  • Ÿpresent a transcript of records for the relevant undergraduate cycle (diploma supplement from the EU or the equivalent in other countries).

Qualification is based on the ranking list. Ranking points are calculated as following:

  • points for a cover letter: max 100 pts (10% weight)
  • points for letters of recommendation: max 100 pts for each letter (10% weight for each letter)
  • points awarded for subjects completed during previous course of study: each subject max 100 pts (each subject 10% weight) – numbers of hours and received grade are taken into account
  • in admission procedure it is possible to obtain 100 pts in total

Subjects taken under consideration during the qualification procedure. Candidate can choose maximum 7 subjects:

  • Microeconomics (will be assigned 0-100 credits);
  • Macroeconomics (will be assigned 0-100 credits);
  • Mathematical Statistics (will be assigned 0-100 credits);
  • Probability Calculus (will be assigned 0-100 credits);
  • Econometrics (will be assigned 0-100 credits);
  • Mathematical Analysis (Mathematical Calculus) (will be assigned 0-100 credits);
  • Finance (will be assigned 0-100 credits).
  • Data science programing 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 and academic projects (you can submit two projects)

Admission procedure for candidates with foreign diplomas

Scholarship holder of the Government of the Republic of Poland, (scholars of other programs and candidates directed to study at UW by the Faculty of Economic Sciences) – are admitted on first come first served basis within the limit of places .

The rest of candidates are qualified on the same rules as applicable to candidates with Polish diplomas.

Place of results' announcement

Announcement of results: April 13th 2018.

Tuition fee

The studies are payable - tuition fees
Maximum 30% of the best students may receive 70% tuition waiver for each semester of the programme (excluding the first semester).

Additional information

Reception of documents: 16-17 April 2018.

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