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Financial Mathematics (first cycle)

Study program cycle and type:

First cycle academic study program.

Anticipated academic title:

In Slovenian: diplomirani finančni matematik (UN), diplomirana finančna matematičarka (UN), abbreviated to dipl. fin. mat. (UN).

Duration:

3 full years (6 terms) based on 180 ECTS credits.

Basic goals:

The principal goal of the academic study program in Financial Mathematics is to create experts capable of solving hard mathematical problems arising in the banking and insurance sector, in trading activities of stock exchanges and brokerage firms, and in management of pension and health funds. Graduates of this study program also acquire enough theoretical knowledge to be able to proceed with the Financial Mathematics program in the second cycle.

Generic competencies developed by the student:

Subject specific competences developed by the student:

Employment possibilities:

Graduates of the academic study program in Financial Mathematics can find employment in:

Admission requirements and admission limitation measures

Admission to the study program is open to either:

a) Holders of the matura certificate.

b) Holders of the vocational matura certificate obtained in any of the four-year high school programs. In this case, an additional examination in one of the general matura subjects different from those of the vocational matura is required. Either one of the vocational matura subjects or the additional one must be mathematics.

c) Holders of the final examination certificate obtained in any of the four-year high school programs prior to 1 June 1995.

In case the number of applicants exceeds the maximum availability, the applicants are selected according to their final matura (or vocational matura) grade, their mathematics matura (or vocational matura) grade, their grade point average (GPA) in the last two years of high school, and their final mathematics grades in the last two years of high school. These are weighted in the following way.

Applicants under a)

Applicants under b)

Applicants under c)

Enrollment requirements

Enrollment in the first study year is granted upon admission.

For enrollment in the next study year it is necessary to earn 50 ECTS credits from courses and exams in the current study year.

In addition to the credit quota, the completions of the following exams are obligatory:

Re-enrollment requirements

For re-enrollment in the same study year, a student needs to earn:

a) at least half of all possible credits of the current study year (30 ECTS credits), and

b) all credits from the previous study years.

Re-enrollment is only possible once in the course of studies. A change of the study program as result of disability of enrollment in the next study year is automatically counted as re-enrollment.

Finishing requirements

To finish the program, students need to complete all exams.

Validation of competences, knowledge, and skills acquired prior to admission to the study program

Students may apply for validation of their competences acquired previously by means of various forms of education if their competences match those of one or more courses offered within this study program. In a formal written request submitted to the mathematics department at the FMF, the applicant must specify the course(s) whose competences he or she had already mastered, and attach accredited transcripts proving it. When considering the possible validation of competences corresponding to a particular course, the department study committee bases its decision on a comparison of

If the study committee decides to validate the previously acquired competences, the student is awarded all ECTS credits that correspond to the respective course(s). In the validation process, the study committee follows The rules and guidelines for validation of informally acquired knowledge and skills, accepted by the Senate of The University of Ljubljana on 29 May 2007 (http://www.uni-lj.si/o_univerzi_v_ljubljani/statut_in_pravilniki.aspx).

Grading system

The methods for testing the competences, knowledge, and skills are described in the courses syllabi. The basic knowledge testing rules are explained in the Exam guidelines of the FMF. Course examinations are either written or oral or both. They can have the form of midterm exams, oral defense of midterm exams, written exams, oral exams, seminar or project work and oral defense of seminar and project work. Grading is based on the grading scale determined in the Statute of The University of Ljubljana. All forms of examinations are graded by grades 1-10, out of which 6-10 are passing grades, and 1-5 are failing grades. The following grading scale is most commonly used for grading the score of a written course examination:

Score (in %) grade
50 - 59 % 6
60 - 69 % 7
70 - 79 % 8
80 - 89 % 9
90 - 100 % 10

Curriculum

The spreadsheet data are given for both the winter and the summer term.
Each term comprises 15 weeks of classes.

Abbreviations:
L = lectures per week (in hours),
P = problem sessions per week (in hours),
Lab = lab classes per week (in hours),
S = seminars per week (in hours),
ECTS = ECTS credits worth,
TSW = estimated total student workload (in hours).

1st year

 Winter termSummer termTotal
CourseLPLabSECTSTSWLPLabSECTSTSWECTSTSW
Analysis 1 3 3 0 0 7 210 0 0 0 0 0 0 7 210
Analysis 2 0 0 0 0 0 0 3 3 0 0 7 210 7 210
Algebra 1 4 4 0 0 8 240 2 2 0 0 6 180 14 420
Discrete mathematics 1 2 2 0 0 5 150 0 0 0 0 0 0 5 150
Microeconomics 0 0 0 0 0 0 3 3 0 0 6 180 6 180
Optimization methods 0 0 0 0 0 0 3 3 0 0 6 180 6 180
Proseminar 2 2 0 0 4 120 0 0 0 0 0 0 4 120
Computer lab 1 0 3 0 6 180 0 0 0 0 0 0 6 180
Introduction to programming 0 0 0 0 0 0 2 0 2 0 5 150 5 150
Weekly total 12 11 3 0 30 900 13 13 2 0 30 900 60 1800
Term total 180 165 45 0     195 195 30 0        

2nd year

 Winter termSummer termTotal
CourseLPLabSECTSTSWLPLabSECTSTSWECTSTSW
Analysis 3 4 4 0 0 9 270 0 0 0 0 0 0 9 270
Probability theory 1 2 2 0 0 5 150 2 2 0 0 5 150 10 300
Financial mathematics 1 0 0 0 0 0 0 2 2 0 0 5 150 5 150
Macroeconomics 4 2 0 0 6 180 0 0 0 0 0 0 6 180
Financial markets and institutions 0 0 0 0 0 0 4 2 0 0 6 180 6 180
Programming 1 2 0 2 0 5 150 0 0 0 0 0 0 5 150
Numerical methods 1 2 2 0 0 5 150 0 0 0 0 0 0 5 150
Numerical methods 2 0 0 0 0 0 0 2 2 0 0 5 150 5 150
Money and finance 0 0 0 0 0 0 3 3 0 0 6 180 6 180
Seminar 1 0 0 0 0 0 0 0 0 0 2 3 90 3 90
Weekly total 14 10 2 0 30 900 13 11 0 2 30 900 60 1800
Term total 210 150 30 0     195 165 0 30        

3rd year

 Winter termSummer termTotal
CourseLPLabSECTSTSWLPLabSECTSTSWECTSTSW
Financial lab 1 0 0 3 5 150 0 0 0 0 0 0 5 150
Statistics 1 2 2 0 0 5 150 2 2 0 0 5 150 10 300
Random processes 1 0 0 0 0 0 0 2 2 0 0 5 150 5 150
Operations research 0 0 0 0 0 0 3 3 0 0 6 180 6 180
Game theory 3 3 0 0 6 180 0 0 0 0 0 0 6 180
Seminar 2 0 0 0 2 3 90 0 0 0 1 1 30 4 120
Elective courses 5 5 0 0 11 330 6 5 0 0 13 390 24 720
Weekly total 11 10 0 5 30 900 13 12 0 1 30 900 60 1800
Term total 165 150 0 75     195 180 0 15        

In addition to the obligatory courses, each student opts for elective courses of total worth 24 ECTS credits.
Of those, at least 5 ECTS credits must be earned by taking courses offered by the Department of Mathematics at the FMF, and at least 5 ECTS credits by taking courses offered by the Department of Money and Finance at the Faculty of Economics (EF).

Courses offered by the Department of Money and Finance

Course
Financial economics
Public finance
International finance
Monetary economics
Corporate finance 1
Theory of corporate finance
Taxes and corporate tax burden
Financial statement analysis
Corporate finance 1
Financial institutions
Financial institutions management 1
Theory of financial intermediation
Taxes and corporations
Econometrics 1
Financial analysis 1
International trade politics
International financial environment
Market organization and structure 1
Principles of accounting
Fundamentals of financial and management accounting
Securities
European monetary system

Courses offered by the Department of Mathematics at the FMF

Course
Mathematical modelling
Coding theory and cryptography
Discrete mathematics 2
Data structures and algorithms 1
Data structures and algorithms 2
Database basics
Point-set topology
Algebra 2
Algebraic curves
Introduction to geometric topology
Algebra 3
Affine and projective geometry
Introduction to differential geometry
Analysis 3 (Program Mathematics)
Analysis 4

Students studying at a foreign institution as part of the Socrates-Erasmus exchange program can transfer up to 30 ECTS credits awarded at that institution in the case of a single term exchange or 60 ECTS credits in the case of a full year exchange.