Quantitative Finance, full-time, second cycle programme (in English) (S2-PRK-QF)

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 14^th best program in Eduniversal TOP 100 Best Masters 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.