Warsaw, Poland

Quantitative Finance

Master's
Table of contents
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⇑Quantitative Finance at UW WNE

Language: EnglishStudies in English
Subject area: economy and administration
Kind of studies: full-time studies
  • Description:

  • pl
University website: www.wne.uw.edu.pl/en/

⇑Test: Is Quantitative Finance the right fit for you?

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10 questions · two minutes

1. You need to price an option whose payoff depends on the average price of an asset over time. How do you go about it?

2. How comfortable are you with stochastic calculus, probability theory and statistics?

3. A trading strategy shows spectacular returns on historical data. What’s your first reaction?

4. How do you feel about programming as part of your work?

5. A risk manager asks how much the portfolio could lose on a really bad day. How do you answer?

6. Lectures, research papers and group projects are in English, and your classmates come from many countries with backgrounds in maths, economics or engineering. How do you see that?

7. Your pricing model breaks down during a sudden market crash. What do you do?

8. How would you feel about writing a thesis on, say, machine learning for volatility forecasting?

9. You have to explain a complex derivative to a client with no mathematical background. How do you do it?

10. What motivates you most to pursue a Master’s degree in Quantitative Finance?

⇑Definitions and quotes

Finance
Finance is a field that deals with the study of investments. It includes the dynamics of assets and liabilities over time under conditions of different degrees of uncertainties and risks. Finance can also be defined as the science of money management. Market participants aim to price assets based on their risk level, fundamental value, and their expected rate of return. Finance can be broken into three sub-categories: public finance, corporate finance and personal finance.
Quantitative
Quantitative information or data is based on quantities obtained using a quantifiable measurement process. In contrast, qualitative information records qualities that are descriptive, subjective or difficult to measure.
Finance
The best scheme of finance is, to spend as little as possible; and the best tax is always the lightest.
Jean-Baptiste Say A Treatise On Political Economy (Fourth Edition) (1832) Book III, On Consumption, Chapter VIII, Section I, p. 449
Finance
The world of finance is a mysterious world in which, incredible as the fact may appear, evaporation precedes liquidation.
Joseph Conrad, Victory: An Island Tale, part I, chap. 1 (1915)
Finance
The real reason that physicians are rotten investors is that it never occurs to them that finance is a science, just like medicine.
William J. Bernstein The Four Pillars of Investing (2002), Introduction, p. ix.

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