Mathematical Finance – Master of Science

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Postgraduate study programme which requires a first university degree. For this, the University of Konstanz offers the Bachelor of Science in Mathematical Finance.

You can study this unique, interdisciplinary master's programme exclusively at the University of Konstanz. In the master’s programme in Mathematical Finance you will learn to analyse and solve financial problems with the aid of mathematical methods. One core area is the analysis of risks, e.g. liquidity, non-payment or currency exchange risks and their impact on the valuation of securities and companies. You will also study incentive models for managers, investors and traders and discuss how financial markets can be regulated. Students receive method-based training in the relevant areas of mathematics as well as theory-based and application-oriented training in financial management. Elective courses, interdisciplinary seminars and the master’s thesis enable you to develop your special interest profiles. Moreover, you have the opportunity to complement your studies with an internship or a stay abroad at one of our partner universities in Asia, Europe or North America.

Overview

DegreeMaster of Science
Programme startWinter semester & Summer semester
Period of study4 semesters
Application period14.5. - 15.9. | 3.12. - 15.3.
Admission restrictionsno
ECTS120

Why study Mathematical Finance at Konstanz?

  • Unique study programme, offered only in Konstanz
  • Interdisciplinary content through the cooperation of the Departments of Mathematics and Statistics as well as Economics
  • Teaching in small practice groups
  • Students enjoy intense supervision in their first semesters
  • To start your studies: preparatory course (4 weeks) in mathematics

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Content

Prospects and opportunities

Career prospects

Typical work areas include:

  • Financial sector, e.g. banks, insurances, financial departments
  • Supervisory bodies and state / federal ministries
  • Consulting companies

If you prefer to opt for scientific research and teaching you have the option of following up your master’s degree with doctoral studies.

You can find out more about career entry in the interview series #dreamjob - Starting a career. Alumni of the University of Konstanz report on their very personal career entry.

Programme structure

Programme start

Winter semester & Summer semester

Academic structure

You can find an exemplary structure of the study programme in this table.


Additional information about the programme structure is available at the Exam regulations (in German).

Internship and study abroad

Internships

Internships help you to gain insights into various professional areas and to build up contacts. Both departments and the staff of the university’s Career Service are here to help you find a suitable placement.

Study abroad

A period of study abroad is always highly recommended. The university promotes study abroad via Erasmus+ and numerous other exchange programmes.

Requirements

What interests and skills should I have?

  • Very good knowledge of mathematics and economics.
  • Very good English skills
  • Great interest in current economic, especially financial issues on the national and international level

Language skills

Foreign language skills
You have to document your English language skills through one of the following language tests (or equivalent test):

  • Cambridge Certificate of Proficiency in English (CPE) or Cambridge Certificate in Advanced English (CAE): Grade C or better; International English Language Testing System (IELTS): band scale 6.0 or better; Test of English as a Foreign Language (TOEFL): 80 points or more (internet-based), 213 points or more (computer-based) or 550 points or more (paper-based); alternatively: evidence of a semester in a study programme taught in English.
  • Applicants who completed the Bachelor's Programme in Mathematical Finance at the University of Konstanz do not have to prove their English skills.
  • Applicants who earned their bachelor's degree outside of Germany: the results of the GRE-test (Graduate Record Examinations);

German language skills
International applicants: documentation of German language skills, level DSH-1 or TestDaF 3 (in all four areas), or a language test recognised as equivalent. The University of Konstanz does not offer preparatory German language courses or approved German language exams. For this reason, you must submit accredited proof of your German language skills along with your application.

Language(s) of instruction

The courses will be held in German or English in agreement with the lecturers. Consequently, study and exam credits can be acquired in either German or English.

Admission requirements

  • Above-average degree in economics (particularly mathematical finance), mathematics or natural sciences from an institution of higher education or Berufsakademie.
  • Knowledge in mathematics (i.e. analysis, linear algebra, stochastics and numerics, totalling 32 ECTS credits or more) as well as knowledge in economics (i.e. statistics, econometrics or economics, totalling 26 ECTS credits or more);
  • English skills proved by one of the following language tests (or equivalent): Cambridge Certificate of Proficiency in English (CPE) or Cambridge Certificate in Advanced English (CAE): Grade C or better; International English Language Testing System (IELTS): band scale 6.0 or better; Test of English as a Foreign Language (TOEFL): 80 points or more (internet-based), 213 points or more (computer-based) or 550 points or more (paper-based); alternatively: evidence of a semester in a study programme taught in English. Applicants who completed the Bachelor's Programme in Mathematical Finance at the University of Konstanz do not have to prove their English skills. Applicants who earned their bachelor's degree outside of Germany: the results of the GRE-test (Graduate Record Examinations);
  • International applicants: documentation of German language skills, level DSH-1 or TestDaF 3 (in all four areas), or a language test recognised as equivalent.

For details, please see the admission regulations.

Fees

Semester fee

All students enrolled at the University of Konstanz are charged a semester fee each semester, similar to all other German universities. Here you can find the current semester fee and its individual components.

Tuition fees for first degree studies for some international students
Beginning in the winter semester 2017/18, the state of Baden-Württemberg will require some international students to pay university tuition fees for their first degree studies. The following will generally not be required to pay tuition fees: citizens of a country within the European Union (EU) or the European Economic Area (EEA), doctoral students and certain 'Bildungsinländer' (international students with German Abitur). You can find more detailed information here.

Tuition fees for second degree studies for all students
All students will be required to pay tuition fees for their second degree studies starting in the winter semester 2017/18, too. You can find more detailed information here.
Once a year, the University of Konstanz grants exemptions to a limited number of particularly gifted international degree-seeking students in accordance with the Begabtenbefreiuungssatzung (statutes governing the exemption of gifted students). You can find more detailed information here.

Application and application documents

This study programme has no admission restrictions.

An application is possible during the following period: 14.5. - 15.9. (winter semester) and 3.12. - 15.3. (summer semester). There may be other deadlines if you are applying for admission to a higher semester (for instance, if you are changing subjects or universities). For more information please consult the university website.

Application documents

Please attach the following documents to your application:

  • Signed application for admission
  • Documentation of your degree from an institution of higher education or Berufsakademie. If you have not received your degree certificate by the end of the application deadline, please attach documentation of all your examination results so far;
  • Documentation of your knowledge in mathematics and economics.
  • Documentation of adequate English skills
  • Application letter in English (1 page) showing your aptitude and motivation for participating in the study programme
  • Curriculum vitae
  • Letter of recommendation by an academic teacher showing your aptitude and motivation for participating in the study programme
  • Results of the GRE-test (if applicable)
  • Current certificate of enrolment or proof of exmatriculation (if you have studied at a German university, please indicate your 'Fachsemester’ and ‘Hochschulsemester’).

    Important note: Please note the information provided under the tab "Admission requirements".

International applicants:

  • Documentation of adequate German skills level DSH-1 or TestDaF 3 (or equivalent);
  • Applicants from China, Vietnam and Mongolia: APS certificate (original) issued by the German Embassy of your home country;

Application

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