The programme is in English and is open to all international and Polish applicants. Candidates must:
- have a bachelor, master, engineer or equivalent degree
- possess knowledge of English
- submit a cover letter: max 100 pts (10 % weight)
- two letters of recommendation from academic, with at least PhD degree-teachers who knows the candidate personally: max 10 pts for each letter (20 % weight)
- present a transcript(s) of records for the relevant undergraduate cycle (diploma supplement from the EU or the equivalent in other countries); for each subject (Microeconomics, Macroeconomics, Mathematical Statistics, Probability Calculus, Econometrics, Mathematical Analysis / Mathematical Calculus, Finance) max 100 pts (10 % weight); numbers of hours and received grade are taken into account.
More information on admission: www.irk.uw.edu.pl
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.