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Master Financial Engineering (advanced distance study programme)

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Master Financial Engineering (advanced distance study programme)

Key Facts at a Glance:
Degree:Master of Science (M. Sc.)
Standard Time to Degree:6 semesters
Course of Study:Advanced distance study programme, four on-campus phases are compulsory
Start Semester:winter semester
Admission Conditions:university degree, relevant work experience, qualification assessment
Language of Instruction: English
Costs:           € 1.990,- tuition fee and € 101,- registration fee per semester (plus a one-time Master's examination fee of currently € 500,-)
Application:see website of DISC

General Information

The programme is aimed at graduates who are already working or are seeking a career in applied financial mathematics, and whose first degree did not provide sufficient expertise in this area. It is therefore designed as a co-operative programme of work and study and the students must demonstrate relevant work experience to enter the programme.

In-depth knowledge of methodology, modern financial mathematics and actuarial theory and their statistical and numerical use in practice are increasingly important in the finance and insurance industry. Regulators now also set strict risk assessment requirements for business portfolios, and these require an understanding of the latest statistical methods and actuarial models. A combination of methods is key in practice, but this demands comprehensive mathematics qualifications in all areas.

The programme is tailored to the demands of everyday working practice: interdisciplinary, and designed to teach the advanced financial mathematics and financial economics theory and skills required for an in-depth understanding of the increasingly complex financial market. It also explores links to actuarial science and teaches relevant statistical and numerical methods.

More information on the programme can be found on the website of the Distance and Independent Studies Center (DISC).



Applicants must demonstrate that they have completed a higher education degree lasting at least six semesters at a German or foreign state or staterecognised higher education institution, at least one year‘s relevant work experience in the finance and insurance sector or in a mathematics-related profession following their degree, and that they have the necessary prior knowledge from their previous degree. Prior knowledge from applicants‘ previous degrees is demonstrated using a scoring system and by the successful completion of module assessments in analysis and stochastics. Students may be able to catch up with some aspects required during the first year of the programme (conditions of admission); details are available at www.zfuw.de/application


Prospective students without an undergraduate degree but with at least four years‘ relevant professional experience in finance and insurance can take an aptitude test for admission to the programme. They may have to complete credits in analysis and stochastics in the first year of the programme (conditions of admission); details are available at www.zfuw.de/entrancequalification