Finance

The complex financial times we live in demand greater modelling techniques and a deeper understanding of financial data. The Master in Finance at the Barcelona GSE is designed to meet these challenges.

The Master in Finance is a comprehensive program that covers all the important areas of finance and prepares you for the most demanding jobs in banking, consulting and asset management.

This program is unique because it offers better training on quantitative topics than most masters in finance, and has a broader focus than the typical master in quantitative finance.

Our graduates excel in the ability to design and implement complex financial models; understand the theory and bring it to the data. They outclass their peers with a more qualitative background (like an MBA), because they can work in a wider range of positions (risk management, derivatives trading, venture capital, wealth management, etc.). At the same time, our graduates are more versatile than students with a pure quantitative background, because they can reach beyond purely technical jobs.

We believe that your time is valuable. We focus on the “hard” topics of finance because these require formal academic training and are difficult to learn on the job.

The program offers interactive classes, intensive use of advanced statistical and mathematical software, in-depth case studies, presentations by finance professionals, and the support of an experienced team of career services officers.

This program requires that all entering students be able to show a solid academic background in mathematics and statistics. Proof will be required showing an undergraduate degree with a substantial number of quantitative subjects, or GRE to demonstrate quantitative ability, however the GRE is not mandatory for this program.

The master covers four areas of knowledge:

Asset Pricing and Macroeconomics

• Introduction to Asset Pricing 
• Advanced Asset Pricing and Market Frictions
• Macroeconomics
• Money and Exchange Rates
• Stochastic Models and Portfolio Optimization
• Systemic Risk and Financial Crises
• Empirical Asset Pricing: use of asset pricing databases employed in the industry

Corporate Finance and Banking 

• Introduction to Corporate Finance
• Applied Corporate Finance: interactive case studies based on real firms and modeling of corporate finance problems with Excel
• Empirical Corporate Finance and Banking: use of corporate finance and banking databases employed in the industry
• Banking Theory

Econometrics and Data Analysis

• Econometrics (Stata, MATLAB)
• Financial Econometrics, Time Series, GARCH and Stochastic Volatility Models

Risk management/Derivatives

• Pricing Derivatives (Options, Futures, Swaps)
• Risk Management

Entry criteria

At the Barcelona GSE we look for excellence and talent. Key elements of a strong application are a high GPA, a sound statement of purpose and a standout reference letter. Strong knowledge in economics and good quantitative skills are also recommended.

The entry criteria for applicants are:

• An Undergraduate/bachelor/grado/laurea, or equivalent degree from an accredited college or university (for Bologna degrees, a minimum of 180 ECTS are required).
• A typical applicant would hold a University Diploma in Economics, Finance, Engineering, Mathematics, Statistics or Business Administration. See our Student Profile for more detailed information.
• An advanced level of English language skills: TOEFL 90 and IELTS 6.5
• GRE exam is mandatory for the Data Science Program and highly recommended for those applicants to the Economics Program who want to be considered for the UPF PhD program (GPEFM).

Note that the fulfillment of the minimum entry requirements does not guarantee admission. Candidates will also be evaluated on the following admission criteria:

• Outstanding academic record
• Quantitative skills
• Reference letters

The Barcelona GSE is able to offer tuition waivers and fully-funded scholarships based on academic merit.

The financial aid that is available to students includes:

• Fully funded scholarships

• Waivers for 100%, 75%, 50% and 25% of tuition fees

• Teaching assistantships

Financial aid will only be awarded to candidates that have an outstanding academic record. All candidates will automatically be considered for any available financial aid when they submit a completed application for a master program. 

While applications are open every year until June 25, preference in funding will be given to candidates who apply before January 15. 

In the Class of 2016, 34% of students were awarded with scholarships or tuition waivers.

Master degree awarded

Upon successful completion of the program, students will receive a Master Degree in Economics and Finance awarded by the Universitat Pompeu Fabra (UPF).

All Barcelona GSE master degrees have been recognized by the Catalan and Spanish Education authorities within the framework of the Bologna Process (in Spanish, “Master Universitario o Master Oficial”).