Objectives and Openings
This degree program provides top-level training in the mathematical tools needed to understand financial-market modeling and risk analysis, as well as offering electives in the economic aspects required to understand this field.
Finance is at the interface of mathematics, economics, management, and marketing. We therefore aim to cover a wide range of tools, enabling students to acquire a sound understanding of financial structures, and of mathematical modeling, numerical implementation, and statistical analysis techniques. Our constant concern is to ensure a balance between theoretical and practical training. This program aims to meet new needs created by developing, changing financial markets, and by the increasingly complex mathematical tools used. The level of mathematics on this training program also opens the door to a PhD in applied mathematics.
The Quantitative Finance track is taught entirely on the Evry site (UEVE). As well as the essential common core in stochastic calculus and basic financial modeling, the distinctive feature of this program is its openness to the world of work. Almost half of the lecturers have jobs in the financial markets, representing a family of professions that includes: quants/IT quants, financial engineers, various segments of the derivatives market (rates, exchange, credit, structured products in insurance), insurance agents, model validation, etc. The courses, mostly taught in English, place great emphasis on IT (VBA, Matlab, C++/C#) and numerical methods, which are validated via projects, and on recent changes in the markets. Courses with a more economic focus (risk management) can also be accessed via pooled courses from the UEVE's Master's in risk and asset management. Although this degree program focuses on the world of work, it obviously does not prevent the best students going on to do a PhD.
The natural openings are in the financial industry: banks, insurance companies and hedge funds. Significant developments in the energy and raw materials markets are also creating openings with companies in these sectors. In addition, many jobs are available in risk analysis teams of consultancy firms. Currently, around fifteen students go on to do a PhD in applied mathematics in one of the areas covered in their Master's: stochastic analysis, numerical probability, or statistics.
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