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Maths that moves markets: Quantitative Finance at the University of Warsaw + test

Financial analyst working at a desk with several monitors showing market charts

Behind every option price, risk report and trading algorithm there is a model, and someone has to build it. Quantitative Finance at the Faculty of Economic Sciences, University of Warsaw, is a two-year master’s programme taught in English that trains exactly those people: graduates who combine stochastic calculus, econometrics and programming with a sound understanding of financial markets — and at the end you can check whether this demanding path suits you.

Contents

⇑What the programme is about

Quantitative Finance is a two-year master’s degree taught entirely in English at the Faculty of Economic Sciences (WNE) of the University of Warsaw. It looks at finance from the perspective of the latest scientific developments and the practical experience of financial institutions.

The programme is aimed at bachelor’s graduates from Polish and foreign universities who want to build their careers in financial institutions, among regulators and supervisors of those institutions, or in other organisations working in the financial and banking environment, in Poland and abroad.

⇑Courses at the core

The curriculum is built around four groups of skills. Students learn to:

  • implement complex derivative pricing models (Derivatives Markets, Equity and Fixed Income, Theory and Practice of Option Pricing, C++ in Quantitative Finance, Computational Finance),
  • manage various risks in financial institutions (Risk Analysis and Modelling, Corporate Finance),
  • manage asset portfolios in a changing financial environment (Asset Allocation and Investment Strategies, Financial Statement Analysis),
  • apply recent developments in financial research, including empirical aspects of financial markets.

These are supported by economics (Advanced Microeconomics and Advanced Macroeconomics), mathematics and econometrics (Mathematical Methods in Finance, Time Series Analysis, Quantitative Strategies, High Frequency Data) and Theory of Finance, which explains the architecture of the financial world.

⇑The maths you will need

This is not a programme for people who avoid equations. Students develop mathematical skills in probability and statistics, portfolio theory, equity and interest rate derivatives including exotic options, linear algebra and differential equations, as well as differential, integral and stochastic calculus.

The aim is practical: graduates should be able to make independent decisions based on real-time financial data, using tools and techniques that are developing quickly in modern finance.

⇑What students learn to do

According to the faculty, the programme teaches how to:

  • use mathematical models for asset pricing, stock selection, asset allocation and portfolio analysis,
  • quantify volatility and return correlations to assess risk and design hedging strategies,
  • design algorithms that replace subjective trading decisions,
  • validate models, conduct research and develop new strategies,
  • work with options, convertible instruments and other derivatives,
  • control and manage risk and model the behaviour of financial markets.

⇑CFA and professional licences

Did you know? The programme has been granted affiliation within the CFA Institute University Affiliation Program, which confirms that the curriculum is aligned with the competencies required by the CFA Institute.

The detailed study plan is designed to help students prepare for examinations leading to licences such as CFA, Securities Broker or Investment Advisor. The affiliation also gives students access to additional educational resources offered by the CFA Institute.

⇑Who will enjoy it

The degree suits bachelor’s graduates who like numbers, programming and solving problems with models. It is demanding by design: its level also prepares students for independent research and doctoral studies at Polish or foreign universities. Current admission rules are best checked on the faculty’s website, as they may change between admission rounds.

⇑Careers after graduation

The faculty lists career paths in the finance industry and beyond, including:

  • financial engineering and risk management,
  • macroeconomic and financial forecasting,
  • quantitative asset management,
  • quantitative trading,
  • applied research.

⇑Summary

Quantitative Finance at the University of Warsaw is a two-year, English-taught master’s programme for people who want to turn advanced mathematics and programming into a career in finance. It covers derivatives, risk, portfolio management and financial econometrics, and supports preparation for professional licences such as CFA. Full details are available on the Faculty of Economic Sciences website.

Aptitude Test

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Answer all the questions and find out if Quantitative Finance is the right degree for you! (test)

10 questions · two minutes

1. How do you feel about stochastic calculus and probability theory at master’s level?

2. A market suddenly becomes very volatile. What is your first thought?

3. How comfortable are you with programming, for example in C++ or Python?

4. Which task sounds more appealing to you?

5. How do you approach a large dataset?

6. How do you react when your model gives an unexpected result?

7. Would you consider preparing for the CFA exams during your master’s studies?

8. How do you feel about studying and working in English every day?

9. What kind of workplace attracts you most?

10. What motivates you most to start this degree?


published: 2026-10-21
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