The programme is oriented to providing students with specific high-level specialisation in mathematical, statistical and computing techniques applied to financial and insurance markets and a full command of the tools required to:
i) assess financial and insurance assets consistently with commodity pricing;
ii) measure the risk of financial products and develop risk hedging techniques using both static and dynamic optimisation tools;
iii) design quantitative tools for portfolio management which are able to combine statistical information from historical sources and implied information in the current prices of financial products;
iv) design quantitative procedures for assessment, replication and hedging of life and casualty insurance products, using cutting-edge financial and actuarial statistical techniques.
For this purpose, the study programme is structured to provide:
- - the necessary complementary mathematical, statistical and economic skills;
- - in depth study of quantitative methods for financial applications;
- - specialised study in one of the following areas: pricing, risk management, asset management, insurance.
The study programme includes quantitative learning areas, adopting instruments to develop quantitative finance applications, studies in the economic and legal fields, designing the context of application, as well as in the financial and actuarial fields, with a view to producing the professional figures targeted by this programme.
It therefore includes a large number of course units in mathematical subjects, distinguishing itself from other 2nd cycle financial degree programmes, and by the inter-disciplinary merger of contents referring to other subject areas: Mathematical Methods for Economics and Actuarial and Financial Sciences, Statistics, Econometrics, Numerical Methods and information technology, Corporate Finance. The latter sector is considered the context in which all quantitative knowledge is applied. Students are also offered the chance to carry out an internship in financial intermediation, insurance or consulting firms.
The study programme is completed with the production of an original dissertation written in English. The dissertation is produced under the supervision of a professor and both the selection of the topic and methods are evaluated to assess the student autonomous ability at identifying a problem and proposing a rigorous, applicable solution.
Laurea Magistrale (Second cycle degree/Two year Master - 120 ECTS) in Quantitative Finance (D.M. 270)
Classes will be held in the following terms: First term (from 17/9 to 21/10/2014); Second term (from 3/11 to 6/12/2014); Third term (from 16/2 to 20/3/2015); Fourth term (from 13/4 to 15/5/2015). Lesson Hours: 6 ECTS (CFU) = 30 hours.
Attività formative obbligatorie
75376 CALCULUS75375 PROBABILITY
- FINANCIAL MARKET REGULATION
- MATHEMATICS AND PROBABILITY (I.C.)
75368 STATISTICS75367 ECONOMETRICS
- STATISTICS AND ECONOMETRICS (I.C.)
75363 CORPORATE FINANCE75364 FINANCIAL PRODUCTS AND MARKETS
- ECONOMICS AND FINANCE (I.C.)
75318 FINANCIAL MATHEMATICS75319 ACTUARIAL MATHEMATICS
- ECONOMICS OF FINANCIAL MARKETS
- ACTUARIAL AND FINANCIAL MATHEMATICS (I.C.)
- LABORATORY OF COMPUTER PROGRAMMING lessons: from 2nd semester
- LABORATORY IN MATHEMATICS lessons: from 8/9 to 19/9/2014
- LABORATORY IN PROBABILITY lessons: from 8/9 to 19/9/2014
Attività formative obbligatorie
37262 COMPUTER PROGRAMMING35433 NUMERICAL METHODS
- FINAL EXAMINATION LM - Not available for the year 2014/2015
- NUMERICAL ANALYSIS (I.C.) - Not available for the year 2014/2015
12 crediti a scelta tra (12 CFU)
- ADVANCED METHODS OF INSURANCE 1 - Not available for the year 2014/2015
- ADVANCED METHODS OF INSURANCE 2 - Not available for the year 2014/2015
- ADVANCED METHODS OF RISK MANAGEMENT 1 - Not available for the year 2014/2015
- ADVANCED METHODS OF RISK MANAGEMENT 2 - Not available for the year 2014/2015
- CREDIT DERIVATIVES - Not available for the year 2014/2015
- ECONOMETRICS OF FINANCIAL MARKETS - Not available for the year 2014/2015
- FINANCIAL ENGINEERING FOR ASSET MANAGEMENT - Not available for the year 2014/2015
- INTEREST RATE MODELS - Not available for the year 2014/2015
- STATISTICAL METHODS FOR ASSET MANAGEMENT - Not available for the year 2014/2015
- STATISTICS OF FINANCIAL MARKETS - Not available for the year 2014/2015
- INTERNSHIP - Not available for the year 2014/2015
- WORKSHOP IN QUANTITATIVE FINANCE - Not available for the year 2014/2015
Attività a libera scelta (12 CFU)
Only 2nd year
Program requirementsAdmission requirements1. For admission to the Second Cycle Degree Programme in Quantitative Finance, candidates must have acquired knowledge of mathematics, economics, and statistics at the first-cycle graduate level.2. Admission to the 2nd cycle degree programme is also subject to the possession of a 1st cycle degree in one of the following classes, or other suitable qualification obtained abroad:ex. Italian Ministerial Decree no. 270/04: L 35, Mathematical Sciences, L 41 Statistics, L 33 Economic Sciences, L 18 Economic and Business Management Sciences, L 31 Computer Sciences and Technologies, L 9 Industrial Engineering, L 30 Physical Sciences and Technologies, L 36 Political Sciences and International Relations Ex Ministerial Decree no. 509/99: class 32 (Mathematical Sciences, class 37 (Statistical Sciences), class 28 (Economic Science), class 17 (Economic and Business Management Sciences), class 26 (Computer Sciences and Technologies), class 25 (Physical Sciences and Technologies), class 15 (Political Sciences and International Relations).Previous four-year degree programme system: Degree in: Mathematics, Physics, Economics and Trade, Statistical Sciences, Information Technology, Engineering.3. If no degree certificate is held by the candidate, admission to the 2nd Cycle Degree Programme is subject to assessment by a Board to ascertain the required skills and competencies through the assessment of the curriculum vitae of the candidate.If the Board considers the level of the candidates' knowledge and skills to be satisfactory, they will be allowed to enrol in a test to assess their personal competencies and skills.4. Admission to the degree programme is subject to the assessment of knowledge and skills in English language, to level B2. Students holding a corresponding language certification may be exempted from sitting this exam.5. Admission to the Second Cycle Degree Programme is in any case for all candidates subject to the possession of the established curricular requirements and to the assessment of personal competencies and skills by a Board appointed by the Degree Programme Board (which may be that indicated in paragraph 3). Personal competencies and skills will be assessed through the evaluation of the curriculum in line with the procedures indicated in the admission procedure.6. Second Cycle Degree Programmes may include a specific session for international students, appointing aBoard to assess personal competences and skills, compatibly with the schedule laid down in the call for applications for study grants (the deadline of which is indicatively in May).International students who pass the above-mentioned entrance exam are exonerated from the following assessment of their personal competencies and skills required for students generally.1. To attend the degree course Laurea Magistralis in Quantitative Finance it is necessary to have adequate knowledge of mathematics, economics and statistics tools at the undergraduate level 2. To be admitted to the Laurea Magistralis in Quantitative Finance it is necessary to hold an Italian degree in one of the following classes Ex. D.M. 270/04: L 35, Scienze Matematiche, L 41 Statistica, L 33 Scienze Economiche, L 18 Scienze dell'economia e della gestione aziendale, L 31 Scienze e Tecnologia Informatiche, L 9 Ingegneria industriale, L 30 Scienze e tecnologie fisiche, L 36 Scienze Politiche e delle Relazioni Internazionali Ex D.M. 509/99:classe 32 (Scienze matematiche), classe 37 (Scienze Statistiche), classe 28 (Scienze economiche), classe 17 (Scienze dell'economia e della gestione aziendale), Classe 26 (Scienze e tecnologie informatiche), classe 25 (Scienze e tecnologie fisiche), classe 15 (Scienze Politiche e delle Relazioni Internazionali). Previous four year system: Laurea in Matematica/undergraduate degree in mathematics, Laurea in Fisica/undergraduate degree in physics, Laurea in Economia e Commercio/undergraduate degree in Economics and Business, Laurea in Scienze Statistiche/undergraduate degree in Statistics, Laurea in Informatica/undergraduate degree in information technology, Laurea in Ingegneria (undergraduate degree in engineering) 3. For applicants holding a foreign degree, an Admission Board appointed by the Council of the Laurea Magistralis will ascertain equivalence between the foreign and the Italian degree. Exceptionally, in order to allow enrolment to the Laurea Magistralis in Quantitative Finance of particularly promising students failing to fulfil the requirement as in 2, an Admission Board will verify whether the student holds the skills and competencies needed on the basis of the curriculum vitae. If the Admission Board recognizes such skills and competencies to be sufficient, it may allow the student to proceed for evaluation as in art. 4 4. In any case, admission to the Laurea Magistralis in Quantitative Finance is conditional on the assessment of the qualification by an Admission Board, (which may be the same as in 3). The assessment is made on the basis of the curriculum vitae and the criteria specified in the call for admission. English Language Requirements IELTS band: 6.5 TOEFL paper-based test score : 550 TOEFL iBT® test: 80
The University of Bologna offers Unibo Action 2 study grants to deserving international students, who wish to register for Second Cycle Degree Programmes in A.Y. 2014/2015.
The grants, worth 11,000 gross, are assigned on the basis of the GRE (Revised General Test) test scores. Read the full information on the requirements and the application procedure in the call for applications, available on the website of the University of Bologna.
The deadline to apply for these grants is March 31st, 2014.