Mathematical Finance

The Department of Economics and the Department of Mathematics and Statistics at the University of Konstanz have combined their expertise to offer the Master's Programme in Mathematical Finance.
This interdisciplinary programme has a duration of two years and comprises compulsory and elective modules to the value of 120 ECTS credits.

Modules offered in Mathematics are

• Stochastics II
• Theory and Numerics of Partial Differential Equations
• Financial Mathematics
• Time Series Analysis
• Numerics of Stochastic Differential Equations

Modules offered in Economics are

• Accounting Theory
• Bank Management
• Risk Management
• Portfolio Management
• Financial Econometrics

Further modules include two interdisciplinary seminars, optional courses from both departments and the four-month Master's thesis.

Educational organisation

If the Master's Programme in Mathematical Finance begins in the winter semester (October), the curriculum is as follows:

Semester one

• Stochastics II
• Theory and Numerics of Partial Differential Equations
• Accounting Theory
• Optional course
• Interdisciplinary seminar (1)

Semester two

• Risk Management
• Bank Management
• Financial Mathematics
• Time Series Analysis

Semester three

• Numerics of Stochastic Differential Equations
• Financial Econometrics
• Portfolio Management
• Optional courses
• Interdisciplinary seminar (2)

Semester four

• Master's thesis
• Optional courses

Study abroad unit(s)

It is recommended that participants spend a period of study abroad at one of our partner universities.

Internships

Students are encouraged to undertake an internship of eight weeks during the course of the programme.

Forms of assessment

Courses are generally assessed by means of one- or two-hour written examinations.
Mid-semester examinations, essays or presentations may also contribute to the final grade for a course.
Seminars are generally assessed by means of a presentation and an essay.
The four-month Master's thesis is assessed by two examiners.
Upon successful completion of the modules of the programme (courses, seminars and the Master's thesis), the degree of Master of Science in Mathematical Finance is awarded.

Course objectives

The aim of the programme is to equip students with an advanced knowledge of the main theoretical and applied concepts of mathematical finance.
Graduates of the programme are awarded the degree of Master of Science (MSc) in Mathematical Finance.
The programme qualifies graduates for challenging careers in the financial sector.
It will also appeal to students who wish to undertake an academic career.
Graduates of the programme can, for instance, join our Doctoral Programme in Quantitative Economics and Finance (http://www.uni-konstanz.de/econdoc).

Language requirements

Applicants whose mother tongue is not English must provide proof of their English language proficiency via one of the following tests:

• Cambridge Certificate of Proficiency in English (CPE) - minimum grade C
• Cambridge Certificate in Advanced English (CAE) - minimum grade C
• International English Language Testing System (IELTS) - minimum band 6.0
• Test of English as a Foreign Language (TOEFL) - minimum 80 (Internet-based), 213 (computer-based), 550 (paper-based)

One semester of study in English may also be recognised as proof of language proficiency.

Applicants who do not hold the German school leaving certificate (Abitur) need to provide proof of their German proficiency via one of the following tests (at the latest by the beginning of the second year):

• Deutsche Sprachprüfung für den Hochschulzugang (DSH): at least "Stufe 1"
• Test für Deutsch als Fremdsprache (TestDAF): at least "Stufe 3" in all four areas
• For equivalent tests see: http://www.studium.uni-konstanz.de/en/admission/applying-from-abroad/applying-for-full-time-courses/german-language-skills

Academic requirements

• An above-average Bachelor's degree (BA or BSc) or equivalent in economics (in particular mathematical finance) or in mathematics, the natural sciences or related subjects
• Proof of knowledge in mathematics (knowledge level - the main subject areas in mathematics) at least 32 ECTS credits (i.e. analysis I, II, II, linear algebra, stochastics, numerics)
• Proof of knowledge in economics (knowledge level - the main subject areas in economics) at least 26 ECTS credits (i.e. statistics II, econometrics, corporate finance, capital market theory, matlab programming)

Enrolment fees

Students currently pay the following fees per semester:
Administrative contribution: 60 EUR
Social contribution: 80 EUR
Student body contribution: 10 EUR

Costs of living

Approx. 650-800 EUR per month to cover personal expenses.

Job opportunities

Students have the possibility to work as student assistants in the Department of Economics and the Department of Mathematics and Statistics.

Funding opportunities within the university

Students can apply for a scholarship at the University of Konstanz to receive 300 EUR per month.
The "Deutschlandstipendium" supports students with 300 EUR per month and is generally approved for at least two semesters, but cannot, as a rule, be provided for any longer than the specified Standard Time to Degree (Regelstudienzeit) in the respective degree programme.

http://www.deutschland-stipendium.uni-konstanz.de/

Arrival support

The International Office and the Language Institute (Sprachlehrinstitut) offer orientation on living in Konstanz, German academic culture, and language courses for newcomers to make it easier for you to settle into your new surroundings.

Special options for students with a basic knowledge of the German language:

• Intensive German language courses
• Orientation programmes
• Kon'Start - Study preparation for German and international degree-seeking students
• CheckIn-Office - Service point for new arrivals (six weeks prior to lecture period)

The Welcome Centre at the University of Konstanz supports doctoral/PhD students from abroad, visiting scientists and researchers, postdocs, and newly appointed professors - and, being a family-friendly university, their families as well - in the planning, preparation, and realisation of their stay in Konstanz. It also provides information and specifically targeted assistance in all non-academic, extracurricular fields.

Services and support for international students

We will not leave you to fend for yourself! We advise and inform students individually and in groups, organise orientation days and visits, provide information on study and career choices, and offer courses on study skills.

Central Student Advisory Service
Phone: +49 (0) 75 31-88 36 36
E-mail: Studienberatung@uni-konstanz.de

The International Office and the Language Institute (Sprachlehrinstitut) offer general orientation and language courses for newcomers to make it easier for you to settle into your new surroundings.

International Office
Phone: +49 (0) 75 31-88 30 89
E-mail: international@uni-konstanz.de

Accommodation

Students have the possibility of living in the residence halls of the University of Konstanz. For further information on student accommodation, please see:
http://www.seezeit.com

Private accommodation in Konstanz can also be found via the following websites:
http://www.konstanz-unterkunft.de
http://www.vierwaen.de
http://www.suedkurier.de