Master in Quantitative Economics and Finance (MiQE/F) Master-Infoday 2011 Prof. Francesco Audrino October 17, 2011
Why MiQE/F? Economists usually lack a good education in quantitative methods. Statisticians usually lack the necessary background in economics or finance. Growing complexity of the global economy: Competition increases the reliance on quantitative methods for analyzing and forecasting business, sales and other economic trends. Quantitative methods are an essential tool in scientific research. Thanks to the complete education, MiQE/F graduates have a competitive advantage on the job market.
Objective of the Program Educate highly-qualified economists with special skills in the area of quantitative methods!
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
Expectations: What can you expect? Excellent education in economics, quantitative methods and finance Competitive advantage on the jobmarket: unique combination of theoretical concepts, quantitative methods and their application to practical problems Flexibility: choose your specialization Small class sizes: close contact to lecturers, personal attention Research oriented, demanding courses with practical relevance PhD: MiQE/F as an ideal preparation for the PhD program in Economics and Finance (PEF) International setting: truly international program, taught completely in English, currently students from 11 different nations enrolled Faculty: a vivid mix of young and well established, internationally recognized economists Steering committee and student participation Reputation and infrastructure of the HSG (Forum, ISC, etc)
CHE Excellence Ranking 2010 The German Center for Higher Education Development (CHE) has presented the 2010 Excellence Ranking for Master Programs in Economics: comparison of selected European Universities with regard to student satisfaction and equipment of University, research and faculty assistance to students. 51 Universities qualified for the "Excellence Group" in Economics. The Economics department of the University of St.Gallen made it into the top group in 3 out of 5 possible categories. Only the Universities of Jena and Bayreuth have been ranked higher with 4 top ratings overall. St.Gallen has made it into the top group in the 'assistance to students from faculty opendoor-policy' and 'library equipment', but also in 'overall satisfaction of students'.
Curriculum
Flexibility Choose your courses and create your specialisation! 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
Optional specialisation: Quantitative Economics 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 Courses offered by the University of Konstanz 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 Macroeconomics Empirical Methods in Empirical Microeconomics (MEcon) 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)
Optional specialisation: Quantitative Finance 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 Courses offered by the University of Konstanz 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 Macroeconomics Empirical Methods in Empirical Microeconomics (MEcon) 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)
Optional specialisation: Corporate Finance, banking and insurance 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)
Contextual Studies Contextual Studies complementary skills for social, political, historical, philosophical and cultural competence. Examples: Solving Economics and Finance Problems with MatLab (engl.) Game Theory and Decision Theory: Origins and Development History of Finance, Banking and Money Wettbewerb als Gerechtigkeitskonzept many more for your choice
Master's Thesis 18 ECTS Has to be written in English No earlier than after the first half of the first semester Contact a possible referee and agree on a topic Max. twelve month allowed for the completion of the thesis Detailed Information: www.miqef.unisg.ch
The Faculty Prof. Dr. Francesco Audrino Prof. Dr. Monika Bütler Prof. Enrico De Giorgi Prof. Simon Evenett, PhD Prof. Dr. Matthias Fengler Prof. Dr. Manfred Gärtner Dr. Philipp Guyer Prof. Dr. Christian Keuschnigg Prof. Dr. Gebhard Kirchgässner Prof. Dr. Martin Kolmar Prof. Dr. Michael Lechner Prof. Dr. Heinz Müller Prof. Dr. Paul Söderlind Prof. Dr. Uwe Sunde and many assistant professors, external lecturers and guest professors.
Handelsblatt-Ranking 2011
Exchange MiQE/F recommends exchange terms and supports students by a flexible and supportive handling. CEMS MIM: Master's in International Management Degree Programme (lots of MiQE/F courses get credited in CEMS) QUEEN: Quantitative Economics European Network (Universities of Frankfurt as the first partner university) Double Degree Program RSM Erasmus University, Rotterdam Università Commerciale Luigi Bocconi, Milan Further information: www.iad.unisg.ch (International Exchange Office)
Practice Credits Awarded for practical activities which have a close thematic connection with the MiQE/F. Scale of activities must be equal to 3 Credits at least, a maximum of 6 Praxis Credits can be awarded. Practice credits can be credited towards Contextual Studies/Leadership Skills (as a second priority, to Independent Electives). Practice credits may be awarded to students who hold a Bachelor's degree when they take up practical activities.
Cooperation partners Since 2009 a prize for the best MiQE/F degree result is awarded every year by LGT. This award is endowed with 5.000,- CHF. Furthermore, students will get the opportunity of completing internships at LGT. Praxis credits can be awarded. On 31 March 2011, we organised the 1 st 'Career Days for Economists'. Students had the opportunity to network with companies and alumnis and shape their career plans. Next date: 22 or 29 March 2011
Admission B.A. or B.Sc. in Economics or similar Major: Enrollment with a Bachelor's degree in a different major (e.g. Law) is not possible. In this case, you may be admitted to the Bachelor's level only. English proficiency: levels of C2 (CEF) by examination in English at Proficiency Level II at the University of St.Gallen or examinations by TOEFL (paper-based: 600; computer-based: 250; internet-based: 100) and IELTS (minimum score: 7.5 academic version). GRE general test: minimum score is 740 in the quantitative section, the test result must not be older than five years. Please note that foreign applicants are subject to special admission requirements. Application deadlines (External applicants): for a start in spring 2012: November 30, 2011 for a start in fall 2012: April 30, 2012
Supplementary work Additionally, supplementary work at the Bachelor's level may be required. The subjects are from the compulsory program of the Bachelor's course that is a prerequisite for admission to the Master's program (max. 38 credits): Microeconomics II + III Macroeconomics II+ III Statistics Empirical Economic Research Financial and Management Accounting Crediting to this supplementary work is possible!
STARR International Foundation Grant Fund The Starr International Foundation Grant Fund is aimed at highly talented foreign-language students with a recognized foreign Bachelor s degree. For the 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 program directors then decide about the award of the grants on the basis of program requirements. Further information is available from studyfunding@unisg.ch.
Contact Program director: Prof. Dr. Christian Keuschnigg Program committee: Prof. Christian Keuschnigg Prof. Uwe Sunde Prof. Francesco Audrino Administration: Franziska Fawcett Varnbüelstrasse 19 Tel. 071 224 29 26 e-mail: Miqef@unisg.ch Web: www.miqef.unisg.ch
Your questions?