2-year master's programme prepares specialists for financial sector, banking and insurance industries in quantitative methods of risk assessment and hedging, providing knowledge and skills in two major areas - financial engineering and insurance mathematics.
The ability to derive, implement and use correctly numerical procedures for computing various financial quantities is crucial for being successful in the field of quantitative finance. It also helps to make better choices when buying an insurance policy or stock options.
Why study financial and actuarial engineering at the University of Tartu?
- The only programme of this kind in the Nordic region, meeting EU educational standards in actuarial mathematics.
- Special emphasis on applied mathematical models and quantitative methods.
- After graduation, you can pursue your career at banks, insurance companies and financial authorities as an analyst, actuary or risk engineer.
- Study at the Delta Centre, which is one of the most modern centres of digital technology, mathematics and entrepreneurship in the Nordic region.
Get more detailsVisit official programme website
The Actuarial and Financial Engineering programme comprises of the following subjects worth 120 ECTS:
- Preparatory module (21 ECTS) - fortifies background in probability and statistics
- Speciality module (33 ECTS) - core subjects
- Elective module (30 ECTS) – additional and remedial courses, includes practice
- Optional courses (6 ECTS) – all courses available at the university
- Master’s thesis (30 ECTS)
Students interested in working in financial sector, banking and insurance industries or continuing their studies on PhD level. Sound knowledge and interest in mathematics are advantageous to succeding in this master's programme.
The programme manager is Meelis Käärik, Associate Professor in Probability Theory at the University of Tartu.
- Bachelor’s degree or equivalent qualification (must be obtained by the end of July)
- Prerequisite courses: at least 24 ECTS completed in the previous level of studies in mathematics, incl. calculus, probability, statistics and 6 ECTS completed in computer science
- English language proficiency
International5000 EUR/yearTuition FeeBased on the original amount of 5000 EUR per year and a duration of 24 months.
National5000 EUR/yearTuition FeeBased on the original amount of 5000 EUR per year and a duration of 24 months.
Tuition waivers and monthly stipends are available.
Studyportals Tip: Students can search online for independent or external scholarships that can help fund their studies. Check the scholarships to see whether you are eligible to apply. Many scholarships are either merit-based or needs-based.
Apply and win up to €10000 to cover your tuition fees.
Updated in the last 9 months
Check the official programme website for potential updates.