Master in Quantitative Economics and Finance (MiQE/F)

Transcription

1 Master in Quantitative Economics and Finance (MiQE/F) Master Infoday 2016 Prof. Dr. Matthias Fengler & Franziska Fawcett February 18, 2016

2 Why MiQE/F? Growing complexity of the global economy: Increasing reliance on quantitative methods to solve challenging problems in business, finance and economics. Quantitative methods are essential tools both in practice and science. Economists require additive knowledge in quantitative methods. Statisticians often need a good background in economics and finance. MiQE/F offers a rigorous theoretical and quantitative training in econometrics, economics and finance to meet these needs.

3 Objectives of the Programme Educate highly-qualified experts in economics and finance with special skills in quantitative methods. MiQE/F graduates have a competitive advantage on the job market.

4

5 Possible careers for MiQE/F graduates Private/public sector: needing quantitative skills finance, investment banks, commercial banks insurance companies, risk management consultancies, external auditing international companies central banks government, public administration international organizations Academia: PhD in Economics and/or Finance etc. institutes of economic research universities

6 Excellent Faculty results in high rankings Prof. Dr. Francesco Audrino Prof. Dr. Johannes Binswanger Prof. Dr. Stefan Bühler Prof. Dr. Monika Bütler Prof. Guido Cozzi, PhD Prof. Enrico De Giorgi, PhD Prof. Simon Evenett, PhD Prof. Dr. Matthias Fengler Prof. Dr. Reto Föllmi Prof. Dr. Dennis Gärtner Prof. Dr. Roland Hodler Prof. Dr. Christian Keuschnigg Prof. Dr. Winfried Königer Prof. Dr. Martin Kolmar Prof. Dr. Michael Lechner Prof. Dr. Paul Söderlind and many assistant professors, external lecturers and guest professors.

7 Rankings The German Center for Higher Education Development (CHE) has presented the 2013 Excellence Ranking for Master Programmes in Economics: Evaluated European Universities with regard to student satisfaction and equipment of University, research and faculty assistance to students. 32 Universities qualified for the "Excellence Group" in Economics. The Economics department of the University of St.Gallen made it into the top group in 2 out of 4 rated categories. St.Gallen has made it into the top 3 in 'overall satisfaction of students'.

8 Expectations: What can you expect? Excellent training in economics, quantitative methods and finance Competitive advantage on the job market: unique combination of theoretical concepts, quantitative methods and application to practical problems Flexibility: choose your own specialization Small class size: close contact to lecturers, personal attention Research oriented: demanding courses with practical relevance PhD: MiQE/F as an ideal preparation for the PhD programme in Economics and Finance (PEF) International setting: truly international programme, taught completely in English, currently students from 20+ different nations enrolled Faculty: a vivid mix of young and well established, internationally recognized scholars Steering committee with student participation Reputation and infrastructure of the HSG (Forum, ISC, etc)

9 Curriculum

10 Flexibility Possible specializations: Quantitative Economics Quantitative Finance Corporate Finance, Banking and Insurance Optional Spezialisation Field Courses / Core Electives Advanced Derivatives (MBF) Advanced Macroeconomics II: Consumption and Investment (MEcon) Advanced Macroeconomics III: Unemployment and Money (MEcon) Advanced Microeconomics II: Incentive Theory (MEcon) Advanced Microeconomics III: Strategic Interaction (MEcon) Asset Pricing (field course Finance/Econometrics) Behavioral Game Theory: Strategic Interaction in Economics and Finance Computational Finance (MBF) Consumption and Incomplete Markets Current Policy Issues in International Macroeconomics and Finance (MEcon) Derivatives (MBF) Development Economics: Microeconomic Perspectives and Applications (MEcon) Econometric Methods for Derivative Instruments Economics of Central Banking (MEcon) Empirical Methods in Empirical Microeconomics (MEcon) Empirical Macroeconomics Energy Finance (MBF) Entrepreneurial Finance, Venture Capital and Economic Performance (MEcon) Expectations and Choice Behavior in Economics and Finance (MEcon) Experimental Economic (MEcon) Financial Econometrics (MBF) Fixed Income Instruments (MBF) Health Economics (MEcon) Industrial Organization (field course Economics / MEcon) International Economic Policy Analysis (MEcon) International trade (MEcon) Introduction to nonparametric econometrics based on empirical applications Labor Economics: Theory and Applications (field course Economics / MEcon) Market Microstructure (MBF) Microeconometrics (field course Finance/Econometrics) Monetary Policy: Models and Current Issues (MEcon) Monetary Theory Personnel Economics and the Firm (MEcon) Public Economics - The Economics of Taxation (field course Economics / MEcon) Quantitative Risk Management (field course Finance/Econometrics) Theory of Financial Intermediation (MBF) Theory of Risk and Insurance (MBF) Time Series Econometrics (field course Finance/Econometrics) Quantitative Economics Quantitative Finance Corp. Finance, Banking & Insurance

11 Master's Thesis 18 ECTS Topic related to core studies Has to be written in English Contact a possible referee and agree on a topic Maximum twelve month allowed for completion of the thesis Detailed Information:

12 Contextual Studies Contextual Studies complementary skills for social, political, historical, philosophical and cultural competence. Examples: Solving Economics and Finance Problems with MatLab Game Theory and Decision Theory: Origins and Development Vulnerability of Financial Systems: Threats, Consequences & Institutions Scientific Writing and Publishing courses in programming, rhetorics, negotiation skills, leadership etc.

13 STARR International Foundation Grant Fund The Starr International Foundation Grant Fund supports highly talented foreign-language students with a recognized foreign Bachelor s degree. For MiQE/F, a grant of CHF 20,000 is awarded every year. Outstanding students are identified by the Advice Center for Study Funding on the basis of various criteria, and are asked to submit additional documents. The programme directors then decide about the award of the grants on the basis of programme requirements. Further information is available from studyfunding@unisg.ch.

14 Integrated Master s and PhD Programme in Economics and Finance (MPEF) A 2 year master s programme with predefined master s courses, PEF elective courses and writing the Master s thesis Master s thesis (extended research proposal) also serves as research proposal on PhD level Programme start in the fall semester only Admission is competitive and by application only For details please contact the programme administration: Dr. Mirela Keuschnigg, pef@unisg.ch or visit her after the presentation at the booth in the library building.

15 Exchange MiQE/F offers many exchange opportunities: CEMS MIM: Master's in International Management Degree Programme (many MiQE/F courses get credited in CEMS) QUEEN: Quantitative Economics European Network Double Degree Programme RSM Erasmus University, Rotterdam Università Commerciale Luigi Bocconi, Milan HEC, Paris ESADE, Barcelona Further information: (International Exchange Office)

16 Exclusively for MiQE/F Double Degrees: Stockholm School of Economics (SSE) MiQE/F Degree and MSc Degree «Master in Economics» from SSE Università Bocconi MiQE/F Degree from the HSG and MSc Degree «Master in Accounting, Financial Management and Control» from Bocconi Students spend the first year at the HSG (home university), followed by one academic year at SSE/Bocconi. For fulfilling the requirements of a double degree diploma, defined SE/Bocconi courses have to be taken. During your studies at SSE/Bocconi, only HSG tuition fees have to be paid. Candidates selected by HSG committee.

17 Practice Credits Awarded for practical activities which have a connection to the MiQE/F programme. Scale of activities/internships must be equal to at least 3 Credits, a maximum of 6 Praxis Credits can be awarded. Practice credits can be credited towards Contextual Studies/Leadership Skills and Independent Electives (second priority). Practice credits may be awarded to students who hold a Bachelor's degree when they take up practical activities and max. 1 year before MiQE/F start.

18 Cooperation partners Since 2009, LGT Capital Partners awards every year a prize for the best MiQE/F degree. The award is 5.000,- CHF. Furthermore, students get an opportunity for internships at LGT. Practice credits can be awarded. 'Career Days for Economists Students expand their network with companies and alumni and explore their career options.

19 Admission Criteria 2016: MiQE/F: Competitive Admission sur dossier GRE all Section with minimum score: Quant. Section: min Verbal Reas.: 150 (of 170) Analytical Writing: 3 (of 6) Internal Students may substitute the GRE with their GPA GPA (Grades from previous degree) CV (listing academic and work experience and extracurricular activities) Writing sample (BA-thesis, term paper or similar) Mandatory introduction week (pre-semester) Prerequisites: B.A. or B.Sc. in Economics or similar Major: Minimum 60 ECTS in core economics. Admission to the MiQE/F is not possible with a degree in another subject (eg. law). You may be admitted to the Bachelor's level only (Master Preparatory Level or 3 rd semester). English proficiency: English level C1, TOEFL or IELTS Application deadline for Fall 2016: October 1 - April 30 (all documents must be handed in by this date, confirmation of current GPA in case no final transcript available at this date). Start of the programme: Each fall semester

20 If you come from a different University than HSG You will be asked to attend MiQE/F Start : Admitted MiQE/F applicants with a degree from another university than the HSG will be asked to complete the programme-specific integration week. It offers an integrative overview of the studies at the University of St.Gallen and combines topics from the core studies with subjects from various faculties. Participation in the MiQE/F Start is mandatory. The week is completed before the start of the studies in the master s programme. The integration week takes place in calendar week 36 and is mandatory. Preparation is highly recommended.

21 MiQE/F Start Topics covered: Microeconomics Macroeconomics Statistics / Mathematics Empirical Economic Research Financial and Management Accounting The MiQE/F Start consists of lectures and self-study as well as an evaluation of the required skills. You will be asked to prepare autonomously according to a specific literature list and participate in the subsequent lectures. The literature list will be provided well in advance hence you can start your preparation prior to coming to St. Gallen. The MiQE/F Start takes place in calendar week 36. More information about prerequisites and requirements on the web: (> Student profile > Link: Prerequisites and requirements)

22 Contact Programme director: Prof. Stefan Bühler Programme committee: Prof. Christian Keuschnigg Prof. Matthias Fengler Prof. Stefan Bühler Executive Director: Franziska Fawcett Bodanstrasse 8 Tel Miqef@unisg.ch Web:

23 Your questions? Please also visit our students at our booth in the library building (until 3:15pm).

24 Integrated Master and PhD Programme in Economics and Finance (MPEF) MPEF is a NEW 2 year master programme that leads directly into the PEF PhD programme MPEF admits only excellent bachelor students qualifying for admittance to the MEcon or MiQE/F, who also have the potential of producing interesting and relevant academic research (admission by PEF commission) Programme start in the fall semester only Students are formally registered as master students of MPEF until receiving the master degree (MA in Economics and Finance) Only two semesters of predefined master courses, then PEF elective courses and writing a research proposal Students are evaluated after the first year: if they fulfil the criteria, they are allowed to follow elective courses of the first year of the PEF (these courses will also be counted towards the courses of the master programme MPEF). An extended research proposal is credited both towards the master s degree (as a master thesis) and the PhD research proposal After successfully passing the courses of the second MPEF year and a successful research proposal, students obtain the Master degree of the MPEF, they are also automatically accepted for the PEF and enter the dissertation phase. Please contact the programme administration: Dr. Mirela Keuschnigg, pef@unisg.ch

25 Rankings: Lecturers and Alumni Alumni rank HSG No. 1 Top Faculties for Economics HSG Faculty rankes in the top group.