www.ut.ee/finmath

Master of Science

WHY TARTU:

• Tartuisastudenttown–20%ofthepopulationisstudents.

• Over850internationalstudentsfrommorethan60countries(morethan500internationaldegreestudents)

• Modernresidencehalls,affordableaccommodation.

• Freewirelessinternetalmosteverywhere.

• HometoUT,rankedinthetop3%intheworld(THES2012-13WorldUniversityRankings).

• InternationalstudentsrateEstoniaasthe#1placetostay(ErasmusStudentNetworkSurvey2009).

1-yearMaster’sprogrammepreparingspecialistsforfinancialsector,bankingandinsuranceindustriesinquantitativemethodsofriskassessmentandhedging.Providingknowledgeandskillsintwomajorareas–FinancialEngineeringandInsuranceMathematics.

FINANCIAL MATHEMATICS

The Master’s programme in Financial and Actuarial Mathematics at the University of Tartu provided me with a solid basis on how to use mathematical methods to solve some practical problems in the field of finance. Importantly, the enthusiastic and helpful faculty has leveraged my knowledge base and expertise.

Artur Sepp Ph.D.,Vice-president,BankofAmericaMerrillLynch

WHAT YOU CAN EXPECT FROM THIS PROGRAMME: • Specialemphasisonappliedmathematicalmodelsand

quantitativemethodsinfinance.

• Graduatesverycompetitiveonnationalandinternationaljobmarketasanalysts,actuariesandriskengineers.

• Knowledge, practical skills and competence neededto succeed in careers at banks, insurance companies, consulting firms, financial utilities, investment funds,pensionfunds,financialsupervisoryauthorities,etc.

WHY CHOOSE THE UNIVERSITY OF TARTU FOR YOUR MASTER’S:

The Institute of Mathematical Statistics at the University of Tartu has considerable international experience in both training and research. We are a partner of an Erasmus Mundus project “Innovation and Design for Euro-Asian Scholars“(IDEAS) which provides scholarships for master students from selected nationals in Asia who want to study at one of the European partner institutions.

Professor Kalev Pärna Ph.D.,ProgrammeManager

ESTONIA RUSSIA

FINLAND

Tartu

TallinnSWEDEN

LATVIA

/ tartuuniversity / / tartuuniversity / / tartuuniversity /

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Who should apply?Studentswithsolidbackground inmathematicsand interest in application of quantitativemethods in finance are most welcome.Economics students are also encouraged toapplyprovidedtheyarereadytolearnessentialsof modern mathematics used nowadays infinancialinstitutions.

Curriculum Structure: 1)Specialtymodule (33ECTS)

2)Electivesmodule (6ECTS)

3)Optionalcourses (6ECTS)

4)Master’sthesis (15ECTS)

TOTAL 60 ECTS

Courses: RiskTheory

ComputationalFinance

ModelsofFinancialMathematics

SimulationMethodsinFinancialMathematics

Martingales

DistributionsinFinancialMathematics

Non-LifeInsuranceMathematics

LifeInsuranceMathematics

etc.

Language of instruction: English.

Programme duration: 1 year, with prior learning prerequisites of 240ECTS(4yearsofuniversitystudies).

General admission requirements: Prior qualification: Four year bachelor’s degree or equivalentqualification (240 ECTS) or master’s degree or equivalentqualification in the areas of natural and exact sciences, oreconomics.

Prerequisitesubjectspassed:

1. Mathematics,includingCalculus,Probability,Statistics(atleastforthevalueof30ECTS),

2. Economics, including Corporate Finance, Investments and Derivatives, Microeconomics (at least for the value of 15ECTS),

3. Informatics(atleast9ECTS).

Application process: 1. Submittheonlineapplication.Theformisavailableat www.ut.ee/apply-master

You will receive an automated confirmation of your onlineapplicationsubmissionandlogininformationtotrackthestatusofyourapplication.

2. Mail the required and properly prepared documents bythe indicated deadline to International Student Service, UniversityofTartu,Ülikooli18,50090Tartu,Estonia.

Applicants will receive confirmation upon receipt of theirapplication and updates regarding its status. Only completeapplications will be considered by the Admission Commissionandstudentsacceptedtotheprogrammewillbenotifiedoftheiradmissionby3Juneatthelatest.

Documents to be submitted:• Onlineapplication;

• Applicationformforassessingpriorlearning;

• Official copy of the Bachelor’s diploma or its equivalent andDiploma Supplement (transcript/grade list) in the originallanguage;

• Official translation of the Bachelor’s diploma and DiplomaSupplementintoEnglish,translationcertified;

• ProofofEnglishlanguageproficiency–detailedinformationontheacceptedtestsandscoresisavailableat

www.ut.ee/requirements;and

• Copyofapplicant’svalididentificationdocument.

Application deadline: April 16

Applicants graduating with diplomas issued later than thedeadline(e.g.inJuly)mustsendthemostrecentTranscriptofRecordsbytherequireddeadline:April16.

Tuition fee:Programme fee is€3200 and covers tuition, teachingmaterials,supervisionandadvisingofthesispreparation.

Alimitednumberofscholarshipswillbeawardedtotopapplicants.

Thispublicationismeantforinformationalpurposesonly.Pleaserefertotheuniversitywebsiteforcurrentofficialinformation.

Address for inquiries:International Student ServiceUniversityofTartuÜlikooli18,50090Tartu,Estonia

Telephone+(372)7376109

Postyourquestion:www.ut.ee/ask