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Study programmes > All studies > Quantitative Finance > Quantitative Finance, full-time, second cycle programme (w jęz. angielskim)

Quantitative Finance, full-time, second cycle programme (w jęz. angielskim) (NW2-PRK-QF)

(in Polish: Quantitative Finance, niestacjonarne (wieczorowe), drugiego stopnia (w jęz. angielskim))
second cycle programme
full-time, 2-year studies
Language: English

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.

Qualification awarded:

Master's degree in Quantitative Finance

Access to further studies:

doctoral school, non-degree postgraduate education

Learning outcomes

The graduate of this specialization:
- knows in depth the theory of finance, as well as advanced quantitative methods, in particular those applicable in the valuation of derivatives, risk management of the investment portfolio, the process of asset allocation, and forecasting financial time series;
- knows and understands financial phenomena, extended to economic foundations, and can rigorously analyse and forecast them;
- knows and understands the goals, context, and importance of ethical standards and legal regulations in financial markets;
- knows the rules of intellectual property protection and the legal matters;
- knows the latest analytical achievements and trends in the world financial literature;
- knows the latest analytical, IT, and programming tools allowing for the processing of empirical data and the practical implementation of models used in various issues in the area of ​​quantitative finance, including in the valuation of derivatives, the asset allocation process, investment portfolio risk management, creating automatic investment strategies or forecasting financial time series;
- knows and understands mathematically the principle of operation of analytical models used in quantitative finance, including the valuation of derivatives, volatility modelling, investment portfolio risk management, stochastic processes, Monte-Carlo simulations, and similar ones;
- can use, implement and program statistical, econometric, and mathematical models addressing problems in the area of ​​finance, including econometric modelling, time series forecasting, volatility modeming, valuation of derivatives, investment portfolio risk management with the use of analytical and IT tools and programming languages including R, C ++, Python and/or VBA.
- can develop and optimize an investment system based on automatically generated signals; the ability to implement such a system in practice, to properly assess it and efficiently manage the risks associated with it;
- can prepare reports and communicate the results of independent analyses in English;
- can correctly plan an empirical study, effectively manage the teamwork and provide a correct solution to a problem within a specified time frame;
- can use English at B2 + level, including specialist terminology needed to work and conduct research in the area of ​​quantitative finance;
- can optimize the operation of statistical, econometric, and mathematical models, select their appropriate parameters and use these models to solve the problem and/or make a forecast;
- is prepared to critically evaluate the achievements, theories, and the latest concepts in quantitative finance;
- is prepared to take up analytical and executive positions in the financial sector in their country and abroad; and
- is prepared to implement independent and team research and analytical projects.

Admission procedures:

Visit the following page for details on admission procedures: https://irk.oferta.uw.edu.pl/