|Study location||Estonia, Tartu|
|Nominal duration||2 year (120 ECTS)|
|Awards||MSc (Master of Science)|
|Tuition fee||€5,000 per year
There are 9 tuition-waivers available for top ranked applicants in 2020/21, including 8 tuition-waivers for EU/EEA/Swiss applicants, 1 tuition-waiver for other applicants. More information on tuition fees is available at www.ut.ee/tuition-fees.
|Application fee||€50 one-time
Application fee is non-refundable.
Undergraduate diploma (or higher)
Bachelor’s degree or equivalent – for country-specific document requirements please see www.ut.ee/country-specific.
Eligible applicants must have completed the following in their prior learning period: mathematics, incl. calculus, probability, statistics (24 ECTS) and computer science (6 ECTS).
Please be sure to check further information on required documents and our step-by-step application guide at www.math.ut.ee/admission-actuarial-and-financial-engineering.
The entry qualification documents are accepted in the following languages: English / Estonian.
All applicants must comply with our English language requirements. The only acceptable English tests and exempt categories are specified at www.ut.ee/requirements
A motivation letter must be added to your application.
Please write a brief motivation letter (in English, maximum of 6000 characters with spaces) focusing on the following points:
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. Sound knowledge and interest in mathematics are advantageous to succeeding in this master’s programme.
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 is also helps to make better choices when buying an insurance policy or stock options.
The programme offers knowledge, practical skills and competence needed to succeed in careers at banks, insurance companies, consulting, financial utilities and financial supervisory authorities. All graduates can find jobs easily in Estonia and around the world.