University of Tartu Multiple locations Overview
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.
Accreditation
https://www.riigiteataja.ee/en/eli/ee/Riigikogu/act/503062019003/consolide
Get more details
Visit official programme websiteProgramme Structure
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)
Audience
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.
Lecturers
The programme manager is Meelis Käärik, Associate Professor in Probability Theory at the University of Tartu.
Key information
Duration
- Full-time
- 24 months
Start dates & application deadlines
- Starting
- Apply before
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Language
English
Credits
120 ECTS
Delivered
On Campus
Disciplines
Mathematics Financial Mathematics StatisticsAcademic requirements
GPA Your GPA, or Grade Point Average, is a number that indicates how well or how high you scored in your courses on average. Usually a GPA scales between 1.0 and 4.0, however different countries and universities can have different grading systems. 2.7 (recommended)
English requirements
TOEFL® IBT The TOEFL iBT® is given online through the internet at designated testing site. The test measures your English-language abilities in an academic setting. The score refers to the total score of 4 subjects (writing, listening, speaking, and reading), each subject has a range of 0 - 30. 75
IELTS The International English Language Test System (IELTS) tests your English-language proficiency on a scale of 1 – 9. The score refers to the combined average score of 4 subjects (writing, listening, speaking, and reading). 6
PTE Academic PTE Academic (Pearson Test of English Academic) is a language test that enables students to demonstrate their writing, listening, speaking, and reading skills when applying to study in English. The score refers to a total score which ranges between 10 and 90. 59
Other requirements
General requirements
- 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
Tuition Fee
-
International
5000 EUR/yearTuition FeeBased on the original amount of 5000 EUR per year and a duration of 24 months. -
National
5000 EUR/yearTuition FeeBased on the original amount of 5000 EUR per year and a duration of 24 months.
Funding
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.
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