University of Primorska Faculty of Mathematics, Natural Sciences and Information Technologies
SI | EN

Mathematics in Economics and Finance

print

General information

Name of the programme: Mathematics in Economics and Finance
Type of programme: academic, 1st Bologna cycle
Degree awarded: "diplomirani finančni matematik (UN)" equiv. to B.Sc. in Finance Mathematics
Duration: 3 years (6 semesters)
ECTS-credits: 180
Programme structure: 30 courses (4 electives)
Mode of study: full-time
Language of study: Slovene

Programme coordinatortop

Assoc. Prof. Arjana Brezigar Masten, PhD

For information regarding application, enrolment and other administrative procedures please contact Student Services.

About the programmetop

In contrast to the Mathematics programme, there is more emphasis on applications, where the interaction between economic and financial content and mathematical content is given particular attention. Graduates are well prepared to take on challenges not only in the banking and insurance sector but also in other financial institutions and in situations where mathematical skills are needed to assess and manage risk. This includes careers in the gambling industry, where games of chance must be analysed, or in enterprises that have to control their financial and other risks.  Because of their combination of mathematical skills and economic thinking, graduates may have a significant edge competing for jobs with candidates who possess a degree in economics with no emphasis on mathematical tools - for instance, careers involving cryptology, assessment of risk in insurance or finance, and control of randomness in games of chance. The problems arising in these disciplines are essentially mathematical and require a broad palette of mathematical methods that can only be mastered through a program that combines mathematics with economics and finance.  After completing their first degree in three years, students can continue either in the Mathematics programme, which is more theoretical in nature, or they can choose the programme in Mathematics with Financial Engineering.

Educational and professional goalstop

  • To demonstrate the importance of analytical thinking and argumentation, as well as the usefulness of various mathematical problem-solving methods
  • To develop mathematical thinking, reasoning and argumentation in diverse mathematical areas
  • To recognise the connections between different mathematical theories and other natural and social sciences
  • To develop the capacity to analyse given data and reach new conclusions
  • To teach students to employ modern technological tools (e.g. calculators, PCs, graphoscopes, projectors) in solving and demonstrating mathematical and economical problems and concepts
  • To develop a sense for identifying and employing appropriate mathematical skills, knowledge and techniques (algebraic, numeric or graphic) in a given situation
  • To develop a sense of team work

Course structuretop

During their studies, students must complete a total of 30 courses (26 compulsory,  1 internal elective and 3 external elective).

The courses are organized into four areas: mathematical, economic-financial, applied-mathematical and the practical area (table 2). In the applied mathematical area there are courses which contains financial-economic elements.

All courses are awarded 6 ECTS-credits. One ECTS-credit encompasses 30 hours of student work. In addition to the student’s presence (at lectures, seminars, in-class and laboratory practical work) this also includes independent work (literature study, preparation for examinations, home assignments, seminar and project work. etc.). The courses require 90 hours of a student’s presence (contact hours).

Students are advised to choose an external elective course in the 3rd year in the field of economy.

SHORT DESCRIPTIONS OF COURSES are available HERE.

Table 1: Structure of the study programme (MF-17)
Year of study  Study obligation Number  ECTS-credits (ECTS)
ECTS ECTS/Year of study
1. Compulsory Course 10 60 60
2. Compulsory Course 8 48 60
External Elective Course 2 12
3. Compulsory Course 8 48 60
Internal Elective Course 1 6
External Elective Course 1 6
 
Table 2: Structure of the study programme (content area) (MF-17)
Year of study Mathematical area Applied-mathematical area Economic-financial area Practical area
1st year

Algebra I – Matrix Calculus

Algebra II – Linear Algebra

Analysis I – Foundations of Analysis

Analysis II – Infinitesimal Calculus

Discrete Mathematics I – Set Theory

Discrete Mathematics II – Combinatorics

Mathematical Topics in English I

Mathematical Practicum I

 

 

Computer Science I

Computer Practicum

2nd year  

Analysis III – Functions of Many Variables

Algebra III – Abstract Algebra

Probability

Introduction to Numerical Calculations

Microeconomics

Macroeconomics

Finance

Computer Science II

External Elective Course I

External Elective Course II

3rd year  
 

Financial Mathematics

Stochastic processes I

Game Theory

Statistics

Internal Elective CourseI

Econometrics

Fundamentals of Insurance

Modelling in Macroeconomics

Financial Topics in English

External Elective Course III


 
Table 3: First year of study (MF-17)
No. Courses ECTS Forms of contact hours
L T SE LW Total
1. Analysis I – Foundations of Analysis 6 60 30 - - 90
2. Analysis II – Infinitesimal Calculus 6 60 30 - - 90
3. Algebra I - Matrix Calculus 6 60 30 - - 90
4. Algebra II – Linear Algebra 6 60 30 - - 90
5. Discrete Mathematics I – Set Theory 6 60 30 - - 90
6. Discrete Mathematics II – Combinatorics 6 60 30 - - 90
7. Mathematical Practicum I 6 45 - - 45 90
8. Mathematical Topics in English I 6 60 30 - - 90
9. Computer Science I 6 45 - - 45 90
10. Computer Practicum 6 - 30 - 60 90

Legend:
L = lectures, T = tutorials, SE = seminars, LW = laboratory work
ECTS = ECTS-credits 

Table 4: Second year of study (MF-17)
No. Courses ECTS Forms of contact hours
L T SE LW Total
1. Analysis III – Functions of Many Variables 6 60 30 - - 90
2. Algebra III – Abstract Algebra 6 60 30 - - 90
3. Probability 6 60 30 - - 90
4. Microeconomics 6 45 30 - - 75
5. Macroeconomics 6 45 30 - - 75
6. Introduction to Numerical Calculations 6 60 30 - - 90
7. Computer Science II 6 45 - - 45 90
8. Finance 6 30 45 - - 75
9. External Elective Course I 6          
10. External Elective Course II 6          
 
Table 5: Third year of study (MF-17)
No. Courses ECTS Forms of contact hours
L T SE LW Total
1. Financial Mathematics 6 45 30 - - 75
2. Game Theory 6 45 30 - - 75
3. Econometrics 6 45 30 - - 75
4. Stochastic Processes I 6 45 30 - - 75
5. Fundamentals of Insurance 6 45 30 - - 75
6. Modelling in Macroeconomics 6 45 30 - - 75
7. Statistics 6 45 30 - - 75
8. Financial Topics in English 6 30 30 - - 60
9. Internal Elective Course I 6          
10. External Elective Course III 6          
 

Internal Elective Course

As internal elective courses students can choose a course EU Economic Trends (6 ECTS) and courses of Mathematics and Biopsychology study programmes (table 6).

Table 6: Internal Elective Courses  (MF-17)
(The list shows only elective courses offered in the last two academic years.)

Study programme Courses
 Study programme Mathematics  Mathematical Modelling
Algebra IV – Algebraic Structures
Analysis IV – Real Analysis
 Study programme Biopsychology

Psychology of Problem-Solving

 

Course structure and programme information for student enrolled from 2013/14 - 2016/17 (MF-13)

In the past year changes occurred in the course plan. In the beginning of this section you can find the course plan for students enrolled from the academic year 2017/18. Here you can find information regarding course structure, compulsory and elective courses, and also short description of courses for students enrolled for the first time in the academic years 2013/14 - 2016/17 (MF-13):

Elective coursestop

Elective courses are internal or external elective courses. All courses are awarded 6 ECTS-credits.

INTERNAL elective courses are courses within the study programme; the list of all internal elective courses is available in the section (table 6). 

EXTERNAL elective courses: students may select external elective courses from study programmes provided by other institutions of higher education in Slovenia and internationally. The courses selected may fall within the fields of Mathematics, Financial Mathematics and Computer Science. Regarding to students' specific interest, a student can choose external elective courses from other study programmes too.
Students may also choose a course from the set of internal elective courses as an external elective course.

Students are advised to choose an external elective course in the 3rd year in the field of economy.

Every academic year, the Faculty offers a different selection of elective courses from the internal elective courses listed. The Faculty tries to meet student interests within the limits of the Faculty’s resources. The final selection of elective courses for the next academic year is published in July. The coordinator will help guide students when choosing their elective courses.

For any further information regarding elective course you  can contact the coordinator: Assoc. Prof. Arjana Brezigar Masten, PhD

Admission requirementstop

Admission to the first year of study shall be granted to applicants having:

  1. passed the matura examination; or            
  2. passed the vocational matura examination (poklicna matura) and a final examination in the matura subject Mathematics - insofar as the aforementioned subjects have already been taken within the framework of the vocational matura examination, applicants must pass any other matura subject; or
  3. successfully completed any four-year secondary-school programme before 1 June 1995.

In the case of enrolment limitations, applicants shall be selected in accordance with the following criteria:

  • applicants under Point a) shall be selected on the basis of:
    • overall matura results (60%)
    • overall results in the 3rd and 4th year of secondary school (20%)
    • results in the subject Mathematics in the 3rd and 4th year of secondary school (20%)
  • applicants under Point b) shall be selected on the basis of:
    • overall vocational matura results (30%)
    • overall results in the 3rd and 4th year of secondary school (30%)
    • results in the subject Mathematics in the 3rd and 4th year of secondary school (20%)
    • results in the additional matura subject examination (20%)
  • applicants under Point c) shall be selected on the basis of:
    • overall final examination results (60%)
    • overall results in the 3rd and 4th year of secondary school (20%)
    • results in the subject Mathematics in the 3rd and 4th year of secondary school (20%)

Admission may also be gained by an applicant having completed a comparable study programme abroad. Prior to enrolment the applicant must apply for recognition of completed education.

Continuation of studies according to the transfer criteriatop

Transfers between study programmes are possible on the basis of the Higher Education Act, Criteria for Transferring between Study Programmes and in accordance with other provisions regulating this field.

Transferring between study programmes means a cessation of studies in the first study programme and the continuation of studies in the second study programme. The first study programme is the programme from which the student is transferring. The second study programme is the programme to which the student is transferring. Applications for transfers shall be considered on the grounds of the level of comparability between study programmes and those study requirements which students have already completed in their first study programme.

Access to Year 2 or Year 3 of the study programme in Mathematics in Economics and Finance on the basis of the Criteria for Transferring between Study Programmes is granted to students of a related first-cycle study programme or a pre-reform undergraduate study programme (adopted prior to 11 June 2004), provided that the following conditions have been met:

  • the student fulfils the requirements for admission to the study programme Mathematics in Economics and Finance
  • completion of the first study programme which the student is transferring from ensures the acquisition of competencies comparable to those envisaged by the study programme in Mathematics in Economics and Finance
  • other conditions have also been met in accordance with the Criteria for Transferring between Study Programmes  (a comparable course structure, course requirements completed)

Individual applications for transfer shall be considered by the relevant committee of UP FAMNIT. Apart from comparability between both fields of study, the committee shall also consider comparability between the study programmes, in accordance with the Criteria for Transferring between Study Programmes.

Enrolment on the basis of the Criteria for Transferring between Study Programmes is also open to students of a related study programme abroad who have been, in the process of recognition of their studies abroad, legally granted the right to continue their educational training in the study programme in Mathematics in Economics and Finance.

In the case of limited enrolment, applicants shall be selected on the basis of the average grade obtained during the study programme they are transferring from.

Advancement requirementstop

For enrolment in the next study year it is necessary to collect at least 42 ECTS-credits from courses and exams in the current study year, and to fulfil all study obligations (60 ECTS-credits) for the previous study year.

The Study Committee of the Faculty may permit a student who has not fulfilled all study obligations for the particular year to enrol in the next year. The student is obliged to submit a formal written request to the Study Committee. Progress to the next year may be approved if a student could not fulfil the obligations for justifiable reasons. Students may repeat a year only once during their study period (provided they earn at least 18 ECTS-credits from courses and exams in the current study year).

Requirements for the Completion of Studies

Students shall be deemed to have completed their studies when they fulfil all the prescribed study requirements for a total of 180 ECTS-credits.

Graduate competenciestop

General competencies

  • The ability to analyse, synthesise and predict solutions and consequences of factors related to the discipline of mathematics, and to calculate financial expenses
  • Critical assessment of developments in the field of mathematics and the ability to use mathematics in finance
  • Development of communication skills
  • Skills of co-operation, team work and project work
  • The ability to independently seek knowledge and to integrate it with existing knowledge
  • The ability to seek and interpret new information and to place it within the context of the discipline of mathematics
  • Autonomy in professional work

Subject-specific competencies

  • The ability to describe a given situation with the correct use of mathematical symbols and notations
  • The ability to explain their own understanding of mathematical concepts and principles
  • The ability to solve mathematical and other problems using modern technology
  • The ability to use the algorithmic approach - to solve a given problem by developing an algorithm
  • The ability to perform a numerical, graphical and algebraic analysis of a given problem
  • The ability to deduce new logical conclusions from the information given
  • The ability to tackle a given mathematical problem in economics and finance with confidence and find its solution
  • The ability of approximate problem-solving through the use of numerical methods

Graduate employment opportunitiestop

Graduates have abundant employment possibilities: in Statistics (Statistical Office, insurance companies, banks), Mathematical Finance (insurance companies, banks, stock exchange, brokerage firms), Gambling Theory (lottery, sports lottery), and Logistics, as well as in the field of education. They could work in any position where a basic knowledge of economics and finance, as well as the capability to use analytical skills, is needed. The programme will also provide them with the knowledge necessary for the continuation of their studies at graduate level.