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The Financial Analyst Master’s programme is designed for young specialists looking to obtain new knowledge in the fields of investment and financial analysis, as well as gain familiarity with best global practices as presented by the CFA Institute. In 2012, the Financial Analyst Master’s programme was recognized by the CFA Institute, USA as a Program Partner and currently this is the only such programme in Russia and the CIS to be recognized by the CFA Institute as a Program Partner.

CFA Institute requirements state that CFA Partner Program status is awarded to a limited number of select institutions whose degree programmes cover 75% of the CFA Program Candidate Body of Knowledge™, including ethical and professional standards. To comply with the high CFA standards, the programme is updated annually using actual CFA textbooks and current global practices.

The Financial Analyst Master’s programme provides a balance of theory and case study in courses taught by HSE academic staff who are experts in their fields, as well as outstanding guest speakers from various Russian and global institutions, including CFA Charterholders. Applicants should possess a Bachelor’s degree and a strong background in economics, finance, or mathematics. The programme is conducted entirely in English.

Programme structure

Financial Analyst Master’s programme is a two-year full time programme. In line with high CFA standards, the programme is updated annually using actual CFA textbooks and current global practices. The curriculum provides broad coverage of the main functional areas and consists of 120 ECTS credits. The programme requires 23 courses made up from 11 core courses, and 12 electives. Classes meet in the evenings and on Saturdays 4-5 times per week:

3-4 weeknights from 06.30 p.m. to 09.20 p.m.
Saturday from 10.00 a.m. to 04.40 p.m.

CORE COURSES

Theory of Finance
Macroeconomics
Advanced Econometrics
Quantitative Methods in Economics
Corporate Finance
Financial Reporting and Analysis
Market Instruments: Equity and Fixed Income
Monetary Economics
Derivatives
Ethical and Professional Standards
Investment Portfolio Management

ELECTIVES

Stochastic Analysis in Finance
Microeconomics
Time Series Analysis
Forecasting in Economics and Finance
International Economics
Company and Business Valuation
Venture Investment
Building DCF Models in Practice
Investment Project Management
Ratings
Alternative Investments
Analysis and Risk Management

Requirements

MA programme Financial Analyst is designed specifically to meet the needs of young professionals who are thinking about moving into or acquiring further in-depth expertise in the area of finance. The programme is aimed at graduates with at least a Bachelor’s degree, with a strong economic, financial or mathematical background. A good proficiency in English is required.

Portfolio composition and minimum requirements for applicants:

Portfolio component	Obligatory/ optional	Comments
1. Diploma and academic transcripts	Obligatory	If you have not yet received your Bachelor’s diploma, please include an official copy of your most recent academic transcript
2. English language proficiency certificate (see below)	Optional	Native speakers of English and students who have completed an entire degree exclusively in English do not need to submit proof of their English ability
3. Professional retraining diploma(s)	Optional	You can submit additional information about your professional retraining which will help the Examination Committee to evaluate your candidature
4. International professional certificate(s)	Optional	You can submit a copy of your international professional certificate (if any) which will help the Examination Committee to evaluate your candidature
5. Scientific papers and publications	Optional	Please submit the publications in hard copies or electronic form
6. Diploma(s) of prizewinners of student competitions	Optional	You can submit a copy of diploma (if any) which will help the Examination Committee to evaluate your candidature
7. Grant/ Scholarship	Optional	Please submit an official letter confirming the awarding of the personal grant/scholarship by state body, or a private company
8. CV	Optional	Please submit a standard CV, including your education background, work and research experience, publications (if any), language knowledge, and professional achievements
9. Recommendation letter(s)	Optional	You can submit letter of recommendation from someone familiar with your academic work or professional experience

Accepted certificates (applicants should submit test results no more than two years old)

Certificate	Score
IELTS	6.0 and higher
TOEFL IBT (Internet Based)	80.0 and higher
CAE (Certificate of Advanced English)	Any passing grade
CPE (Certificate of Proficiency in English)	Any passing grade
BEC Higher (Business English Certificate)	Any passing grade