Quantitative Finance and Actuarial Sciences

Duration

2 years

4 semesters
Points

120 ECTS

per programme
Title

M.Sc.

Master of Science

If you are interested in finance, mathematics and analytical thinking, the Quantitative Finance and Actuarial Sciences programme is the right choice for you.

In this programme, you will learn how banks model and assess credit risk, how pension funds optimally manage assets, and how the values of financial assets such as put options and insurance premiums are determined.

The programme offers a modern applied approach that prepares you for practical challenges in actuarial and financial asset management. In today's world, where the institutional and regulatory framework is constantly changing, the ability to adapt analytical approaches is a key competitive advantage.

With the knowledge you acquire, you will be equipped to tackle complex issues in the field of finance and manage financial risks. Join a group of analytical and critical thinkers shaping the future of the financial sector.

The Actuarial Programme meets the requirements of the Actuarial Association of Europe (AAE) regarding the educational content for actuaries, which is essential to acquire the knowledge to perform the actuarial function as required by the Insurance Supervisory Authority.

The programme is affiliated with GARP (Global Association of Risk Professionals). As a University Affiliated Partner, it covers 70% of the contents of the first-level Financial Risk Manager licence. Find out about any scholarships to take the exam to obtain the Financial Risk Manager (FRM) and Sustainability and Climate Risk (SCR) certifications.

8th

place (global) on Eduniversal 2023-2024 ranking
86%

graduates find employment within one month after graduation
100%

Graduates are employed in companies and positions that match their education and level of work complexity

Curriculum

1st year

1st semester

Probability and Statistics (10 ECTS)
Asset Pricing Theory (10 ECTS)
Financial Institutions Accounting (10 ECTS)

2nd semester

Time-Series and Panel Data Econometrics (8 ECTS)
Valuation of Financial Derivatives (8 ECTS)
Contract Theory in Finance and Insurance (7 ECTS)
Elective course (7 ECTS)

2nd year

1st semester

*Risk Management (8 ECTS)
*Risk Modeling in Insurance (8 ECTS)
*Empirical Finance (8 ECTS)
*Life and Pension Insurance (8 ECTS)
Master's thesis proposal (14 ECTS)

2nd semester

*Non-life Insurance (7 ECTS)
*Quantitative Behavioral Finance (7 ECTS)
Elective course (7 ECTS)
Master's thesis (16 ECTS)

The student selects one set of courses:

Set 1 (Quantitative Finance) - Risk Management, Empirical Finance and Quantitative Behavioural Finance
Set 2 (Actuarial Sciences) - Risk Modeling in Insurance, Life and Pension insurance and Non-life Insurance

Professions

Actuary

Financial quantitative modeller

Financial Quantitative Analyst

Asset manager

Risk manager

Mode of study

The programme is offered as full-time study.

Double Degree Programme

Double degrees in the Quantitative Finance and Actuarial Sciences programme:

Stockholm University, Stockholm Business School, Sweden

Enrolment requirements and selection criteria

The following students can enrol in Year 1:

Anyone who has completed a first-cycle study programme in relevant professional fields and has achieved at least 180 ECTS credits;
Anyone who has completed a study programme for obtaining a higher professional education in relevant professional fields;
Anyone who has completed equivalent study programmes listed in the previous indents in other professional fields and has completed additional study obligations in the amount of 12 ECTS credits. Additional study obligations are completed by the student before enrolment in the postgraduate master's degree programme by taking Microeconomics 1 (6 ECTS) and Mathematics for Business and Economic Sciences (6 ECTS).

The bachelor or first-cycle study programmes referred to in the first and second indents which are taken into account as relevant areas of expertise for enrolment in the first year of second-cycle postgraduate master's programmes are those which, according to the ISCED classification, belong to the social sciences (31) Mathematics and statistics (46) and those which, according to the KLASIUS classification, fall under Economics (314), Physics (440) and Physics and Astronomy (441).

If enrolment capacity is restricted, candidates will be selected on the basis of their average grade of the first-cycle study programme or bachelor studies (100%).

The entry limit for the full time study in last four years.