The Master's in Quantitative Methods in Finance is a partnership course between the Mathematics Department of the Faculty of Science and Technology and the Faculty of Economics, which aims to train professionals capable of understanding, framing, formulating and solving problems in research, development and innovation, in quantitative contexts from banking, public and private fund management, insurance companies and the financial industry in general. The academic training provided on this course enables you to deal with the current complexity of the financial markets, which requires advanced quantitative techniques in which mathematics plays a key role. As a result, financial institutions increasingly need professionals with knowledge of Financial Mathematics and Statistics, who are able to respond to the various quantitative challenges related, for example, to data processing, the launch of new financial products or forecasting the evolution of market variables.
This Master's degree seeks to meet the growing demand for this type of qualification. The aim is to impart a set of knowledge in the area of mathematics that is essential for tasks such as pricing of financial derivatives, risk management, treatment of financial series and portfolio selection, articulating this learning, in an appropriate manner, with the study of the mechanics of financial markets and financial derivatives markets. Emphasis is placed on the role of stochastic calculus and differential equations in assigning prices to derivatives and hedging and in developing time structure models, as well as optimization in efficient portfolio management. On the other hand, it focuses on knowledge of probabilities and stochastic processes relevant to risk management, the analysis of financial series and the prediction of market behavior.
The potential audience for this Master's is vast, but two profiles can be identified:
- Professionals with initial training in Economics, Management or Engineering who work in Finance;
- Recent graduates in fundamental sciences (Mathematics and Physics) or in Economics or Management.
This Master's provides for the possibility of standardizing the basic knowledge of the various types of public, considering different initial training according to the profile of the candidates. Thus, for graduates from the field of Economics, this Master's includes more training in Mathematics. For others with a broader Mathematical background, coming from degrees in fundamental sciences or Engineering, the syllabus provides a basic initial component in aspects of Economics and Management related to the financial markets.
Professional Goals
The interdisciplinary nature of this MSc program provides both theoretical and practical skills in Mathematics, Economics and Finance to meet the different perspectives of interpretation, analysis and decision making that can occur in Financial Markets. This degree trains:
- Quantitative Analysts with solid knowledge in the aforementioned areas which are able to work in the finance departments of investment banks, consulting and audit firms, investment funds and pensions enterprises, stock exchanges and insurance companies;
- Researchers with the potential to innovate and create mathematical problems related to economy and finance.
The MSc program has the support of researchers and R&D departments of BNP Paribas.
Program
This Master's program lasts 3 academic semesters. The first semester is composed by 4 compulsory courses and 1 optional course. The second semester is structured in 5 compulsory courses and 1 free optional course adjusted to the profile of the candidates. The third semester is dedicated, in its entirety, to a project work. The course totals 90 units of ECTS. The courses have 4 hours of weekly workload.
The study programme of the MSc in Quantitative Methods in Finance Program is organized in three semesters:
1st semester
- Optimization Methods in Finance (6 ECTS)
- Stochastic Processes and Calculus (6 ECTS)
- Time Series (6 ECTS)
- Risk and Financial Economics (6 ECTS)
- Intermediate Microeconomics (6 ECTS)
2nd semester
- Derivative Modelling and Risk Management (6 ECTS)
- Time Financial Series (6 ECTS)
- Financial Derivatives (6 ECTS)
- Interest Rate Models and Credit Derivatives (6 ECTS)
- Numerical Methods for Partial Differential Equations (optional, 6 ECTS)
- Risk Theory (optional, 6 ECTS)
3rd semester
- Project/Dissertation in Quantitative Methods in Finance (30 ECTS)
Admission Requirements
Applications for this master's degree are made online and applicants must meet one of the following conditions:
- Hold a BSc degree or legal equivalent;
- Hold a foreign academic degree after completing 1st cycle of studies organized according to the principles of the Bologna Process by a State acceding to this process;
- Hold a foreign academic degree that is recognized as meeting the objectives of the Bachelor’s degree by the Scientific Council of the Faculty of Science and Technology;
- Hold an academic, scientific or professional curriculum that is recognized by the Scientific Council of the Faculty of Science and Technology as attesting to their ability to complete this cycle of studies.
A complete application includes:
- Statement of purpose;
- Copy of Identity Card;
- Curriculum vitae, in EuroPass format;
- Certificate of the academic degree, including the final classification (except present and older students of UC);
- Certificate with the detailed description of the classification of the courses taken (except present and older students of UC);
- Detailed description of the courses taken in the original academic program, in case you need creditation to the master program you are applying or when necessary for the application of the selection criteria (except in the case of the course was offered by the respective Faculty at the destination).
Program Coordination
Contacts
The course will be managed by FCTUC in the 2024/2025 academic year, and by FEUC in the 2025/2026 and 2026/2027 academic years. From 2026/2027 onwards, management of the course will alternate annually, starting in 2027/2028 with management by FCTUC.
Departament of Mathematics of FCTUC or School of Advanced Studies - FEUC.