Master of Science in Natural Sciences - Financial and Actuarial Mathematics |
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1-year Master's programme preparing specialists for financial sector, banking and insurance industries in quantitative methods of risk assessment and hedging, providing knowledge and skills in two major areas - financial engineering and insurance mathematics.
What you can expect from this programme
Why choose the University of Tartu for your Master`s
General admission requirements
Application process, documents, deadline
Documents to be submitted
Curriculum structure
Courses
Language and duration
Tuition fees
Teaching staff
To get more information
What you can expect from this programme
- Special emphasis on applied mathematical models and quantitative methods.
- Only programme of this kind in the region, meeting EU educational standards in actuarial mathematics.
- Graduates very competitive on national and international job market as analysts, actuaries and risk engineers.
- Knowledge, practical skills and competence needed to succeed in careers at banks, insurance companies, consulting, financial utilities and financial supervisory authorities.
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| Professor Kalev Pärna, Ph. D. Programme Manager |
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| Artur Sepp, Ph. D. Associate Merrill Lynch (New York) |
Why choose the University of Tartu for your Master`s
- The University of Tartu, founded in 1632, is one of the oldest universities in Northern Europe, offering a true academic environment and modern facilities for studies.
- Tartu is a unique university town with an intellectual atmosphere, rich history and student traditions. It is a great place to study and live.
- All graduates of Financial Mathematics can find jobs easily in Estonia and around the world
This Master's programme prepares students for professional opportunities or further PhD studies in Mathematical Statistics at the University of Tartu or elsewhere. The University of Tartu offers doctoral programmes in Mathematics, Economics or Mathematical Statistics with specialization in Financial Mathematics.
General admission requirements:
- Applicants must have 240 ECTS earned prior to their application to this programme. Graduates with Bachelor's degrees in Mathematics, Statistics, Economics or Physics are candidates well-suited for the programme.
- Applicants with a 3-year Bachelor's degree (180 ECTS) must complete one more year (60 ECTS) of university studies elsewhere or in Tartu before applying to this Master's programme.
- Prior learning prerequisites: eligible applicants must have completed the following in their prior learning period:
a) Mathematics, including Calculus, Measure-Theoretic Probability, Statistics (at least 30 ECTS),
b) Economics, including Corporate Finance, Investments and Derivatives, Microeconomics (at least 15 ECTS),
c) Computer Science (at least 9 ECTS). - English language requirements
Applicants are required to fill in an online application and post the signed application and required documents listed below to the International Student Service: University of Tartu, Ülikooli 18, Tartu 50090, ESTONIA.
- application
- completed and signed application form for
recognition of prior learning;
- copy of the Bachelor diploma (or highest preceding study level) and diploma supplement (transcript/mark sheet) in the original language (a copy certified by the educational institution issuing the document or a notarised copy);
- official translation of the diploma and diploma supplement (transcript/mark sheet) into English, translation certified;
- certified copy of the upper secondary school certificate with a grade list and official translation of these documents into English. The requirement does not apply to the students who have completed their bachelor’s degree or equivalent in: EU/EEA countries; former Soviet Union countries; USA; Canada; Australia or New-Zealand;
- offical test result of English language proficiency;;
- copy of the identification document.
All applicants will receive a confirmation upon receipt of their application and its status. Complete applications will be considered by the Admission Commission and students accepted to the programme will be notified of their admission immediately.
NB! Applicants graduating in 2010 with diplomas issued later than the set deadlines (e.g. in July), please send the application form and the most recent Transcript of Records by the required deadline. Indicate to the International Student Service when your diploma will be issued. For further information contact the International Student Service directly.
Application deadline:
Non-EU applicants: April 15
EU applicants: June 1
Curriculum structure:
Compulsory module 30 ECTS
Master's thesis 30 ECTS
TOTAL 60 ECTS
Courses:
Autumn semester 18 ECTS
Non-Life Insurance Mathematics
Life Insurance Mathematics
Risk Theory
Computational Finance
Spring semester 12 ECTS
Models of Financial Mathematics
Simulation Methods in Financial Mathematics
Martingales
Language of instruction: English
Programme duration: 1 year, with prior learning prerequisites of 240 ECTS.
Tuition fee:
Programme fee is EUR 3068 and covers tuition, teaching materials, supervision and advising of thesis preparation. Housing, food, insurance and other living expenses are extra (about EUR 250/ month).
Teaching staff:
The teaching staff consists of professors highly qualified in the field of Financial Mathematics, who have also done extensive research and have international experience. Some of the lectures in the programme will be delivered by visiting international staff.
Financial and Actuarial Mathematics website: www.ms.ut.ee/english/studies/studies.htm
University of Tartu www.ut.ee
Tartu www.tartu.ee
Estonia www.visitestonia.com
Address for inquiries:
International Student Service
University of Tartu
Ülikooli 18, 50090 Tartu, Estonia
Telephone +(372) 737 6109, 737 5152
Fax +(372) 737 5153
studyinfo@ut.ee
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