KIEL UNIVERSTIY Faculty of Business, Economics, and Social Sciences

Master’s degree programmme

QUANTITATIVE FINANCE

- Student handbook including degree programme -

Date: October 15

Department of Economics Christian-Albrechts-Universität zu Kiel D-24098 Kiel Visitor’s address: Wilhelm-Seelig-Platz 1, D-24118 Kiel http://www.wiso.uni-kiel.de

This student’s handbook will be updated and expanded with more precise information at irregular in-tervals. So please make sure you have the latest version at hand.

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Table of Content Page

A. Cooperating departments ...................................................................................................... 1

I. Department of Economics ................................................................................................. 1

II. Institute for Statistics and Econometrics ........................................................................... 1

III. Department of Mathematics of the Faculty of Mathematics and Natural Science .......... 1

IV. Department of Business .................................................................................................... 1

V. Institute for Quantitative Business and Economic Research ............................................. 1

B. General Information ............................................................................................................... 2

I. Overview of the degree programme .................................................................................. 2

1. Degree .......................................................................................................................... 2

2. Students’ advisory ........................................................................................................ 2

II. Programme admission ....................................................................................................... 3

1. Admission requirements ............................................................................................... 3

2. Enrolment ...................................................................................................................... 4

III. Structure of curriculum and performance requirements ................................................... 4

IV. Recognition of academic achievements ............................................................................ 5

C. Master’s examination ............................................................................................................. 5

I. Components of the Master’s examination ........................................................................ 5

1. Structure of the Master’s examination ......................................................................... 5

2. Study-accompanying module examinations ................................................................. 5

a. Date and duration of module examinations .................................................................. 5

b. Registration for module examinations ......................................................................... 6

c. Participation in seminars ............................................................................................ 10

d. Oral examinations within the module Empirical Methods for Finance ..................... 10

e. Inspection of examinations ......................................................................................... 10

3. Master’s thesis ............................................................................................................ 11

II. Structure of Curriculum .................................................................................................. 12

1. Statistics and Econometrics for Finance .................................................................... 13

2. Optional section in Financial Economics & Corporate Finance ................................. 13

4. Compulsory section in Mathematical Finance ............................................................ 13

5. Seminars ...................................................................................................................... 14

6. Minor Subject .............................................................................................................. 14

III. Overview - Programme schedule .................................................................................... 15

IV. Recommended extra-curriculum activities ..................................................................... 15

1. Studying abroad .......................................................................................................... 15

2. Internships .................................................................................................................. 16

D. Events calendar ....................................................................................................................... 16

I. Short-term planning: Lecture directory ............................................................................... 16

II Long-term planning............................................................................................................. 16

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A. Cooperating departments

The Master’s degree programme in Quantitative Finance is offered by the Faculty of Business, Economics, and Social Sciences in cooperation with the Department of Mathematics of the Faculty of Mathematics and Natural Science of Kiel University.

I. Department of Economics The Department of Economics is responsible for the planning and coordination of the Economics courses. The Economics part of the Master’s degree programme in Quantitative Finance is mainly attended by the

Chair of Monetary Economics and International Finance (Prof. Dr. Thomas Lux)

Another cooperating chair of the Department of Economics is

Chair of Public Economics, Social Policy, and Health Economics (Prof. Dr. Ulrich Schmidt)

II. Institute for Statistics and Econometrics The Institute for Statistics and Econometrics is responsible for the planning and the coordination of the Statistics and Econometrics courses. The responsible chairs are

Chair of Econometrics (Professor Dr. Kai Carstensen)

Chair of Statistics and Empirical Economic Research (Prof. Dr. Matei Demetrescu)

Apl.-Professorship (Prof. Dr. Uwe Jensen)

III. Department of Mathematics of the Faculty of Mathematics and Natural Science

The Department of Mathematics is responsible for the planning and coordination of the mathematics courses. They are attended by the following chairs:

Chair of Numerical Mathematics (Prof. Dr. Jan Kallsen)

Chair of Stochastics (Prof. Dr. Albrecht Irle)

IV. Department of Business

The Department of Business is responsible for the planning and coordination of the Business courses in the Master’s degree programme in Quantitative Finance. They are attended by the

Chair of Finance (Prof. Dr. Peter Nippel)

V. Institute for Quantitative Business and Economic Research Additionally the chairs of the Institute for Quantitative Business and Economic Research (QBER) are coop-erating with the organization of the Master’s degree programme in Quantitative Finance:

Prof. Dr. Alexander Klos

Prof. Dr. Stefan Reitz

Prof. Dr. Markus Haas

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B. General Information

I. Overview of the degree programme

1. Degree

The Master’s degree programme in Quantitative Finance offers a scientifically orientated and research-led

education. The programme is taught in English and designed for four semesters (2 years). Over the course

of the Master’s degree programme 120 ECTS credit points, including 30 ECTS credits for the Master’s the-

sis, have to be achieved. Succeeding in the Master’s examination the student will be granted the academ-

ic title Master of Science (M.Sc.)

Over the course of the degree programme profound knowledge in Economics, Business Administration,

Statistics, Econometrics and Mathematics, which is relevant for analyzing capital markets, is conveyed.

The graduates’ professional profiles are rounded out by a minor subject where they can choose modules

of Economics, Business, Comparative Economic Sociology, Political Science, Agricultural Economics, Busi-

ness Information Systems, Computer Sciences or Empirical Economics.

The degree programme prepares the students for taking over responsible positions in finance and assur-ance companies, and financial controlling authorities as well as freelance and independent scientific work. The degree also provides the possibility to participate in a PhD programme.

2. Students’ advisory

For German speaking students the Student Advisory Service offers general information on the Master programmes: Zentrale Studienberatung Christian-Albrechts-Platz 5 (Anbau Uni-Hochhaus) Office hours: Mon. und Wed.: 9.00 - 11.30 am and 2.00 - 4.00 pm Thu.: 9.00 - 11.30 am Phone office hours: Monday through Thursday 9.00 - 11.30 am Phone: +49 431 880-7440 Postal address: Zentrale Studienberatung der Christian-Albrechts-Universität zu Kiel

24098 Kiel Email: zsb@uv.uni-kiel.de Internet: http://www.zsb.uni-kiel.de/

International students please contact the International Center for general information on the Master programmes: International Center of Kiel University, 24098 Kiel Visitor’s address: Westring 400, Ground Floor 24118 Kiel Telephone: +49 431-880-3715 Internet: http://www.uni-kiel.de/international/

Questions regarding the examinations:

Examination office Faculty of Business, Economics and Social Sciences:

Frau Schrader 880-3381

Frau Schoer 880-3358

Frau Rathmann 880-7109

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Office hours: Tuesdays and Thursdays, 8.30 am- 11.30 am

(During the semester break the office hours only take place on Tuesdays.)

Internet: http://www.wiso.uni-kiel.de/de/studium/pruefungsamt

Notices: http://www.wiso.uni-kiel.de/de/studium/pruefungsamt/infos-ma

Professor Dr. Hans-Werner Wohltmann

Head of the examination board, Department of Economics

Wilhelm-Seelig-Platz 1, 3. Floor 880-1446

Office hours: by arrangement

Questions concerning the programme’s content of the Department of Mathematics

Examination office of the Faculty for Mathematics and Natural Science

Karin Clausen 880-4390

Office hours: Tuesdays and Thursdays, 10.00 – 12.00 Uhr

Ludewig-Meyn-Straße 4, Raum 204

Internet: http://www.math.uni-kiel.de/de/einrichtungen-und-gremien/pruefungsamt

Students’ guidance of the Department of Economics for the Master’s programme in Quantitative Fi-nance:

Dipl.-Math. Veronika Penner 880-3369 Department of Economics Wilhelm-Seelig-Platz 1, Room 511 Office Hours: by arrangement

Important webpages for Master students:

Section „studies“ Faculty of Business, Economics, and Social Sciences http://www.wiso.uni-kiel.de/en/studying/master/quantitative-finance?set_language=en

Examination office of the Faculty of Business, Economics, and Social Sciences http://www.wiso.uni-kiel.de/de/studium/pruefungsamt

Frequently Asked Questions: http://www.wiso.uni-kiel.de/en/studying/faq-frequently-asked-questions?set_language=en

Virtual central examination office http://www.pamt.uni-kiel.de/pas/vzp

II. Programme admission

1. Admission requirements

The Master degree programme in Quantitative Finance is consecutive i.e. only students holding a Bache-lor degree in Economics or a comparable university degree will be admitted. Furthermore, the grade 2.5 is required for admission. Applicants holding a Bachelor degree in Economics from Kiel University with an ECTS grade D or a grade reaching from 2.6 to 3.0 can be admitted if the average grade of the quantitative modules (mathematics, statistics and econometrics) and the economics modules, weighted by the respective ECTS-credit points is at least 2.5.

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Applicants holding a Bachelor degree in other fields than Economics can be admitted to the Master de-

gree programme if they dispose of the fundamental knowledge taught in a Bachelor degree of Economic

Sciences.

Applicants that can evidence good basic knowledge in Economics, and furthermore have sound

knowledge of quantitative methods, i.e. at least 20 CP from courses on quantitative methods, that is from

courses on analysis, algebra, statistics, and econometrics can be admitted.

Due to the fact that the programme is taught in English the following requirements concerning the level

of language command have to be met:

- Good reading skills (C1 in CEF) in English, evidenced by the school certificate (minimum of 4 years

of English at least with grade „satisfactory“ (07)) or

- TOEFL-Test 550 (Paper-based Testing) or equivalent test result or

- Bachelor’s degree with English as language of instruction.

2. Enrolment

The following regulations apply for the enrolment procedure, please also check the information on en-

rolment provided on www.studservice.uni-kiel.de!

Candidates holding a Bachelor’s degree in Economics from Kiel University

simply register with their Degree certificate or Transcript of Records for the Master’s degree pro-

gramme.

Candidates holding a Bachelor’s degree in Economics or a comparable degree from a German University

The same requirements apply, however the required documents have to be sent until

1st of August (for the winter term)

1st of February (for the summer term)

to the examination office of the Faculty of Business, Economics and Social Sciences.

International applicants please contact:

International Center of Kiel University, 24098 Kiel

Visitor’s address:

Westring 400, Ground

24118 Kiel

Telephone.: +49 431-880-3715

Internet: http://www.uni-kiel.de/international/

Further Information: http://www.international.uni-kiel.de/en/application-admission/application-

admission/master?set_language=en

III. Structure of curriculum and performance requirements

The student handbook refers to the following examination regulations:

Degree-specific examination regulations (Fachprüfungsordnung) for students of Master degree pro-

gramme in Quantitative Finance. Available in German, and in English.

Examination procedure regulations (Prüfungsverfahrensordnung) for all students of Bachelor and Mas-

ter programmes of Kiel University for which an English version will be available soon.

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Both regulations can also be found on the internet below the following link: http://www.wiso.uni-

kiel.de/en/studying/master/quantitative-finance. The examination procedure regulations are the superi-

or statute and are precised by the degree-specific examination regulations. The German versions are le-

gally binding.

IV. Recognition of academic achievements

Academic achievements passed at German universities will be recognized if they are equivalent. In order

to be recognized the application form along with the original versions as well as copies of certificates or

transcripts of records and the respective module descriptions have to be submitted to the examination

office. The form can be obtained on the webpages of the examinations office below:

http://www.wiso.uni-kiel.de/de/studium/pruefungsamt/formular-center/dateien-formular-

center/Application%20for%20the%20recognition%20of%20examination%20results.pdf

C. Master’s examination

I. Components of the Master’s examination

1. Structure of the Master’s examination

The Master’s programme concludes with the Master’s examination consisting of two parts:

study-accompanying module examinations (a total of 90 ECTS credit points)

Master’s thesis (30 ECTS credit points).

In the following sections the students have to achieve 90 ECTS credits by study-accompanying module ex-

aminations:

Econometrics for Finance (25 ECTS credit points)

Financial Economics & Corporate Finance (25 ECTS credit points)

Mathematical Finance (25 ECTS credit points)

Seminar (5 ECTS credit points)

Minor Subject (10 ECTS credit points).

The study-accompanying module examinations are graded. A module examination will be successfully

passed if at least grade „sufficient“(4.0) is achieved. Passed examinations cannot be repeated. Examina-

tions which were not successfully passed can be repeated twice.

If the third examination trial is graded “insufficient” but is a necessary condition for the successful com-

pletion of the module neither the respective module nor the whole Master’s examination will be passed.

The examination procedure regulations provide an obligatory student advisory if the standard period of

study is exceeded by two semesters without having achieved at least two thirds of the credit points re-

quired for the successful passing of the Master’s examination. Therefore students will not have achieved

at least 80 ECTS credits until the end of their sixth semester will be requested to attend an obligatory stu-

dent advisory (§ 16 PVO).

2. Study-accompanying module examinations

a. Date and duration of module examinations

An examination has to be passed for each course.

The examination for a lecture, for a lecture including a tutorial or a seminar usually takes place in the ex-

amination period at the end of the semester.

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The dates are announced at the beginning of the semester on the web pages of the examination office.

The re-examination for a lecture takes place in the examination period before or shortly after the begin-

ning of the following semester.

Students that failed in the first examination are not obliged to take the re-examination immediately.

However it is also possible to take the re-examination without having taken the examination at the end of

the foregoing semester

b. Registration for module examinations

The following web page announces the periods for registration and examination of the semester:

http://www.pamt.uni-kiel.de/pas/vzp/Terminplanordner/aktuelleterminplaene

In order to take an examination a registration for this exam is required. A registration is also mandatory

for taking part in the re-examination. The period for registration begins six weeks before the examination

period begins and ends two weeks before the examinations start (on Sundays 12.00 a.m. if examinations

start on a Monday). You are strongly advised not to register at ultimate date as the examination office is

closed on weekends and cannot offer you any assistance with problems or technical difficulties on short

notice.

You have to register for examinations which take place during the period of examination via the stu-

dents’ online function on the homepage of QIS:

https://qis.zentr-verw.uni-kiel.de

There is no possibility to take the examination if you are not registered for it.

In order to take the examination you need to bring your ID-card and a current QIS-print giving in-

formation about the registered exams

An examination will be graded „insufficient“(5.0) if the student fails to appear without valid rea-

son though being registered for the examination or retreats after the exam has begun.

In order to register for exams you have to enter the link of the QIS homepage given above and log in with

your stu-account number and the corresponding password. Then click on the option Administration of Ex-

ams on the left hand side of the homepage and choose the option Apply for exams.

You will see the following German text which contains requirements and notes for the examination pro-

cedure. The text coincides largely with the shaded areas above such as:

A registration is mandatory in order to take the examination; otherwise you are not allowed

to take the examination.

You are advised not to register at ultimate date.

A registration for examinations which do not take place within the regular examination period

can only be realized for the first examination period.

You are asked to check the information and especially the status on your registered examina-

tions. If problems with the QIS functions occur please contact the examinations office.

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You have to accept these terms in order to continue your application for the exams. If you follow the in-

structions on the upper part of the homepage you will see the following screen:

Behind the information on the date of the exam and the name of the examiner you will find the green

colored option Prüfung anmelden that starts the registration process.

After choosing Prüfung anmelden the system will ask you to confirm the registration:

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If after processing the confirmation the status of the registration OK appears you are bindingly registered for the examination and can continue registering for other exams via the option Weitere Prüfungen anmelden. In case the status OK does not appear please repeat the process and if the status does still not appear as OK contact the examination office.

An overview of the registered examinations can be obtained via Administration of Exams and Info on ex-ams. Please check if all examinations which you wanted to register for are listed as in the following table

and take the printed version (Drucken) with you to the examination.

The web pages of the virtual examination office give more detailed information (currently only in German language) about the students’ online function on:

http://www.pamt.uni-kiel.de/pas/vzp/pruefungsverfahren/modulpruefungen/stof.

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It is possible to cancel registrations for exams without giving reasons via the students’ online function un-til eight days prior to the examination. In order to do so please take the same path as when registering for examinations and the following screen will appear:

In order to cancel your registration for an examination, choose the red colored option Prüfungsanmeldung stornieren. Once again the system will request your confirmation:

After a successful processing the following information appears. Please make sure that the status OK shows up. If any other status appears the system did not cancel your registration!

Important! During the period of verification of registrations and binding admission

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(compare schedule: http://www.pamt.uni-kiel.de/pas/vzp/Terminplanordner/aktuelleterminplaene) the

status of the admission to the registered examinations has to be reviewed via the students’ online func-

tion.

c. Participation in seminars

The compulsory seminar can be absolved in one of the following sections:

i. Seminar at the Department of Economics The seminars are offered on specific topics within the modules and can be regarded as advanced courses that deepen the knowledge conveyed in the module’s lectures. For the seminars the regular assistance and an active participation of the students are required. Furthermore each student has to write a term paper on the topic assigned to him/her and present the content to the class. The participation in these seminars requires the application, the assignment of a vacancy and the registration at the respective chair. The period for registration usually is at the end of the lecture-period of the foregoing semester. The seminars are announced in the UnivIS and on the webpages of the chairs at the end of the semesters. Ac-cepting the assignment in the seminar the student commits himself to the participation. Otherwise the examination will be graded “insufficient” (5,0).

ii. Seminar at the Institute for Business Administration

The participation in these seminars requires the previous registration at the corresponding chair. The pe-riod for registration usually is at the end of the lecture-period of the foregoing semester. The seminars are announced in the UnivIS and on the webpages of the chairs at the end of the semesters.

Additionally to the application at the chair, students need to register in the QIS for seminars in Capital

Markets & Corporate Finance as well as in Theory of Financial Economics in the following registration pe-

riod (as explained above for lecture modules) in order that the examiner will enter the grade.

iii. Seminar at the Department of Mathematics

The participation in seminars at the Department of Mathematics requires a direct contact to the lecturer and the registration and assignment of a vacancy through the chair. Furthermore students have to regis-ter during the registration period for the first examination period for the seminars via the students’ online function QIS!

d. Oral examinations within the module Empirical Methods for Finance

The registration for the oral exams of the Institute for Statistics and Econometrics takes place during the official period of registration, however students and examiners agree individually upon the exact dates for the examination. Usually, they take place after the period of examination.

e. Inspection of examinations

The results of the examinations can be reviewed via the students’ online function. You are asked to ab-stain from inquiries at the chair or the examination office since it might delay the correction of the exams. Exams can be reviewed at the corresponding chairs after correction has been finished. The results of the exam can be accessed in the student’s account of the QIS-system. Dates for revision frequently are an-nounced jointly with the results of the exam. Usually, exams will be stored at the chairs, in single cases chairs also hand exams out against receipt.

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According to § 25 (1) PVO students can object in written form to the results of their examinations within one month after the announcement. The mandatory opposition periods also are announced on the schedule “Terminübersicht”: http://www.pamt.uni-kiel.de/pas/vzp/Terminplanordner/aktuelleterminplaene

3. Master’s thesis

The registration for the Master’s thesis is possible consecutively in summer or winter terms. The form for

the application for the admission to the Master’s thesis is accessible at the homepage of the examination

office below “Formular Centre”.

Before registering to the Master’s thesis please agree upon the topic of your thesis with your chosen first

examiner. Usually, the first examiner suggests the second examiner. Please inquire about topic proposals

of the corresponding chair and the available examiners.

The agreed topic has to be registered on the application for admission. The completed and signed form

has to be submitted to the examination office within a time limit of 3 weeks (starting at the date of signa-

ture by the first examiner). For the registration please come to the office hours of the examination office

in person.

The topic may only be issued if the applicant has attained at least 60 credit points from modules which

have already been completed.

The examination office checks the requirements for admission and determines the deadline, which is not-

ed on the application form. After the form has been signed by Professor Wohltmann, the Head of the Ex-

amination Board, you will receive a copy by mail.

If after having registered for the Master’s thesis, it is decided that the topic is not feasible, it is possible to

withdraw the topic one time within two months. In this case the Master’s thesis is deemed “not started”.

The time frame for the Master’s thesis is six months after the topic has been issued. If you need this dead-

line to be extended due to illness or another valid reason, you must immediately inform the examination

office in writing and provide evidence such as a medical certificate. The corresponding form can be found

in the “Formular center” (form centre) on the website of the examination office.

A Master’s thesis information leaflet specifying further regulations is available at the examination office or below the link

http://www.wiso.uni-kiel.de/de/studium/pruefungsamt/infos-ma/dateien-masterarbeit-1/Masters%20thesis%20information%20leaflet.pdf

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II. Structure of Curriculum

Section Module Assignment mo-

de SWS LP module LP section

Econometrics for

Finance

Advanced Statistics I written 2V + 2 Ü 5

25

Advanced Statistics II written 2V + 1 Ü 5

Econometrics I written 2V + 2Ü 5

Elective lecture module in Statistics and

Econometrics for Finance

written / oral 2V + 1 Ü 5

Elective lecture module in Statistics and

Econometrics for Finance

written / oral 2V + 1 Ü 5

Financial Economics

&

Corporate Finance

Elective lecture module written / oral 2V + Ü 5

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Elective lecture module written / oral 2V + Ü 5

Elective lecture module written / oral 2V + Ü 5

Elective lecture module written / oral 2V + Ü 5

Elective lecture module written / oral 2V + Ü 5

Mathematical

Finance

Mathematical Finance written 2V + Ü 10

25 Computational Finance written 2V + Ü 10

Specialisation in Mathematical Finance written 2V + Ü 5

Seminar Seminar Fin. Economics & Corp. Finance Paper and

presentation 2 5 5

Seminar Mathematical Finance

Wahlfach Varies for the different minor subjects.* 10

Master Thesis 30

120

Explanations: K: written examination, MP: oral examination, S: essay and presentation SWS: "Semesterwochenstunden" = weekly 45-minute teaching for the duration of one semester of about 12 teaching weeks. Types: V = lecture, Ü = tutorial, S = seminar LP: ECTS credit points * imported modules from other faculties (English as language of instruction can only be guaranteed in the minor Empirical Economics)

During the Master’s degree programme of Economics module examinations in the following sections have

to be passed:

1. Section in Statistics and Econometrics for Finance,

2. Optional section in Financial Economics

3. Optional section in Capital Markets and Corporative Finance

4. Compulsory Section in Mathematical Finance

5. Seminar in

a. Financial Economics & Corporative Finance

b. Mathematical Finance

6. Minor subject

Additionally, the Master’s thesis counts for 30 ECTS credit points.

More detailed information on the modules and their contents can be found in the module manual of the

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M.Sc. degree programmes Economics, Environmental and Resource Economics, Quantitative Economics,

and Quantitative Finance:

http://www.wiso.uni-kiel.de/de/studium/dateien-studienfaecher/modulhandbuecher/module-manual-

economics-master-programmes.pdf

or in the appendix of the degree specific examination regulations

http://www.studservice.uni-kiel.de/sta/3.3-032.pdf.

1. Statistics and Econometrics for Finance

You need to participate successfully in two of the elective modules.

VWL-AdvStatI Advanced Statistics I compulsory VWL-AdvStatII Advanced Statistics II compulsory VWL-EcoI Econometrics I compulsory VWL-AEM-EcFin Econometrics for Financial Markets elective VWL-AEM-StatFin Statistics for Financial Markets elective VWL-AEM-MTSA Multivariate Time Series Analysis elective VWL-AEM-UTSA Univariate Time Series Analysis elective

2. Optional section in Financial Economics & Corporate Finance

You need to participate successfully in five of the following modules.

VWL-FinEc-IFM International Financial Markets elective VWL-FinEc-TFM Theory of Financial Markets elective VWL-FinEc-PDM Pricing in Derivative Markets elective VWL-FinEc-FEM Foreign Exchange Markets - Theory and Empirics elective VWL-FinEc-AEFE Applied Econometrics of Foreign Exchange Markets elective VWL-FinEc-Adv Advanced Topics in Financial Economics elective VWL-PuEc-EcRU Economics of Risk and Uncertainty elective BWL- Investments and Capital Markets elective BWL Behavioral Finance elective BWL- Theory of Corporate Finance elective BWL- Finanzierungstheorie elective VWL-AEM-PortA Portfolio Analysis elective

4. Compulsory section in Mathematical Finance

MNF-math-finmath1-QF Mathematical Finance compulsory MNF-math-compfin-QF Computational Finance compulsory You need to participate successfully in one of the lectures:

MNF-math-probl_fima-QF Current Issues in Mathematical Finance elective MNF-math-prbl_fe-QF Current Issues in Computational Finance elective MNF-math-parfi-QF Partial Differential Equations and elective Mathematical Finance MNF-math-riskman-QF Risk Management elective MNF-math-veri-QF Actuarial Mathematics and Risk Theory elective MNF-math-optpro-QF Optimization in Mathematical Finance elective MNF-math-sppro-QF Models with jumps in Mathematical Finance elective

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MNF-math-zimo-QF Interest Rate Theory elective

5. Seminars

You need to participate successfully in one seminar to complete this section. VWL-FinEc-Sem/BWL- Seminar in Fin. Economics & Corp. Finance elective MNF-math-sem_cfi_msc-QF Seminar on Computational Finance and elective Mathematical Finance MNF-math-sem_fma_msc-QF Seminar on Stochastics and elective Mathematical Finance

6. Minor Subject

Possible minor subjects for the degree programme in Economics

Empirical Economics

Economics

Business

Comparative Economic Sociology

Political Sciences

Agricultural Economics

Business Information Systems

Computer Sciences

Mathematik

Minor subject Business: In the SBWL “Entrepreneurship”, “Controlling” and knowledge of the respective

Bachelor’s lectures (“Grundlagen des Entrepreneurship”, “Controlling”) is required.

The option to change the minor subject exists as long as not all of the required 10 ECTS credits have been

achieved. If more than 10 ECTS credits are achieved in the minor subject the grade is calculated over the

whole amount. However, this grade only enters into the subject grade with weight 10/120.

More detailed information is given in the module manual:

http://www.wiso.uni-kiel.de/de/studium/dateien-studienfaecher/modulhandbuecher/module-manual-

economics-master-programmes.pdf

and the webpages of the departments and faculties. An overview of the modules’ structure can also be

found in the appendix of the degree specific examination regulations:

http://www.studservice.uni-kiel.de/sta/fachpruefungsordnung-quantitative-finance-master-1-fach.pdf

Currently Empirical Economics and Economics are the only minor subjects where English as language of

instruction can be guaranteed. Within the other minor subjects students and lecturers can agree upon

English as language of instruction in individual cases.

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III. Overview - Programme schedule

The programme schedule shown below is recommended but not mandatory and can be adapted to the

offered courses.

1st Sem Mathematical Finance

Elective Lecture Module

in Fin. Economics &

Corp. Finance

Elective Lecture Module

in Fin. Economics &

Corp. Finance

Advanced Statistics I

Econometrics I

2nd Sem

Computational Finance

Elective Lecture Module

in Fin. Economics &

Corp. Finance

Elective Lecture Module

in Fin. Economics &

Corp. Finance

Advanced Statistics II

Elective lecture module in Statistics and Econometrics

for Finance

3rd Sem

Specialization in

Mathematical Fi-nance

Seminar Mathematical

Finance*

Elective Lecture Module

in Fin. Economics &

Corp. Finance

Minor subject

Elective lecture module in Statistics and Econometrics

for Finance Seminar

Fin. Economics & Corp. Finance*

4th Sem Master Thesis

IV. Recommended extra-curriculum activities

1. Studying abroad

The faculty highly welcomes and promotes studying at foreign universities especially within the Erasmus

exchange programmes. More detailed information on these programmes can be obtained on the internet

below http://www.vwl.uni-kiel.de/de/auslandssemester-vwl.

The third semester is highly recommended for planning a semester abroad. Students intending to go

abroad are advised to consult the corresponding chairs of Kiel University or the local coordinator of the

Erasmus programme when planning courses at the foreign university. They are strongly recommended to

do so in time before departing from Kiel in order to assure the recognition of the achieved examinations

later on.

Responsible for the recognition of examinations taken at foreign universities is the Head of the examina-

tion committee, Prof. Dr. Hans-Werner Wohltmann. Below the following link the form for the recognition

of examinations can be obtained:

http://www.wiso.uni-kiel.de/de/studium/pruefungsamt/formular-center/dateien-formular-

center/Application%20for%20the%20recognition%20of%20examination%20results.pdf

For the recognition the completed form and the following documents have to be submitted to the exami-

nation office: transcript of records, information on the course (table of contents, recommended litera-

16

ture, and method of examination) as well as a grading scheme for converting the foreign grades into the

grade system of Kiel University.

2. Internships

Internships especially abroad are strongly recommended before or during the studies. Students should

choose internships that provide an insight in the tasks of economists, convey economic knowledge or

prepare for professional life. Your studies and especially your motivation for your studies can gain sub-

stantially from this kind of work experience.

D. Events calendar

I. Short-term planning: Lecture directory

The lecture directory informing about the scheduled courses for the upcoming semester is announced

during the ongoing semester. It can be accessed on the webpage (UnivIS) of the university below

www.univis.uni-kiel.de. In order to see which courses are offered in the compulsory section of Economics

please take the following path:

Lecture directory >> Wirtschafts-und Sozialwissenschaftliche Fakultät >>Masterstudiengänge >>Pflichtteil

Volkswirtschaftslehre

If you are interested in the courses of the Institute of Statistics and Econometrics:

Lecture directory >> Wirtschafts-und Sozialwissenschaftliche Fakultät >> Masterstudiengänge>> Quantita-

tiver Pflichtbereich or Quantitativer Spezialisierungsbereich

The locations where the lectures and tutorials take place are given by abbreviations of the street names

and numbers. A list of the abbreviations can be accessed below:

http://www.uni-kiel.de/univis-kiel-misc/raumkurzbez.html

II Long-term planning The long-term events calendars provides an outlook on courses offered for the section in Financial Eco-nomics & Corporate Finance in future semesters. Please note that the given information is without com-mitment and can change on short notice! The outlooks can be found below http://www.wiso.uni-kiel.de/de/studium/download/langfristige-veranstaltungsplanung-vwl.pdf http://www.wiso.uni-kiel.de/de/studium/download/langfristige-veranstaltungsplanung-bwl.pdf