12th best program in Eduniversal TOP 100 Best Masters in Financial Markets
The Quantitative Finance Program at the Faculty of Economic Sciences, University of Warsaw is a four-semester program on a full-time basis that provides students with outstanding knowledge of modern quantitative finance. The program leads to ‘magister’ degree and is compatible with the Bologna system, equivalent to Maters of Arts.
The distinctive feature of this program is that it combines the overall fundamentals of economic theory with specialized knowledge in finance. The basic aim of this specialization is to provide students with theoretical knowledge from the field of quantitative finance combined with its practical applications in financial institutions, taking into account the latest trends in financial world.
The degree combines economic methods, quantitative techniques and state-of-the-art financial analyses to give students a strong background from which to pursue their careers. Students are encouraged to develop their abilities to use economic analysis in a variety of finance-related problems. Significant course work is devoted to the development of mathematical and statistical skills. These skills are necessary to evaluate the uncertain outcomes found in financial applications. The program provides student with the opportunity to apply their knowledge and skills to projects that utilize financial tools and techniques. Programme objectives
Quantitative Finance domain is in recent years rapidly evolving due to unprecedented changes in both technology and financial markets. As financial securities become increasingly complex, demand has grown steadily for people who not only understand the complex mathematical models that price these securities, but who are also able apply and enhance them to generate profits and reduce risk.
These individuals are known as quantitative analysts, or simply quants. They are and will be in high demand for the foreseeable future, mostly due to their strong technical skills and challenging nature of the work, which is often described as mixture of mathematics, finance and computer skills.
The basic advantage of the Quantitative Finance Program at University of Warsaw is the shift from the general concepts of modern finance to focus on the theme of quantitative finance, which is essential in any advanced approach to modeling financial markets.
The additional advantage of this concept is their uniqueness on the Polish educational market, based on what the students have the upper hand from the start. There is no similar program on any other Polish university.
The track is prepared to connect the theoretical knowledge with its practical applications. However, most of the courses will include these two approaches simultaneously:
Our program is intended to help students acquire necessary skills and prepare them for a wide range of career opportunities inside and outside of the financial industry.
Graduate profile
The program is designed for students who majored in economics, mathematics, business or social sciences and want to make quantitative finance their main field of study. Candidates should hold an undergraduate degree (Bachelor degree from an EU university or its equivalent from a university outside the EU). The curriculum is intended to prepare students to tie up their careers with Polish and worldwide financial institutions, where they will be able to:
Presented knowledge and skills will be enriched with the proper dose of economic theory (Advanced Microeconomics and Advanced Macroeconomics), courses in mathematics and econometrics (Mathematical Methods in Finance, Time Series Analysis, Quantitative Strategies. High Frequency Data) and courses which present the architecture of the financial world (Theory of Finance), which help the students not only to understand the complicated world of financial models but to find a proper place for themselves in it as well.
The program assumes that students will be equipped with theoretical knowledge and practical applications which enable them to take independent decision basing on the real-time financial data with use of tools and techniques dynamically developing in modern finance. 2007-2009 capital market turmoil were the best illustrations that there is lack of high-quality professionals who treat this subject as the main point of expertise.
The QF track is intended to prepare students for a wide range of careers inside and outside the financial industry including financial engineering and risk management, macroeconomic and financial forecasting, quantitative asset management, quantitative trading and applied research.
During the curriculum students acquire mathematical background in areas of:
We teach our students how to:
Additionally, the planned curriculum and the level of difficulty of courses assume solid background for students who wish to conduct independent research and continue their education on Ph.D. studies in the field of finance at Polish and foreign universities.
Practical aspects of the studies
The QF Program was designed to provide prospective students the ability to prepare for taking highly recognized financial exams:
Additionally, the QF Program helps to develop necessary programming skills:
Career perspectives
Tuition fees per year charged in AY 2021/2022
Here you can find information about admissions deadlines
More on the application procedure
Quantitative Finance is a Math-oriented programme – for details please look at the curriculum.
dr Paweł Sakowski
Zakład Finansów Ilościowych
e-mail: sakowski@wne.uw.edu.pl
e-mail: admissions@wne.uw.edu.pl
 |  |  |
| The candidate submits application. | The selection process. The Admission Committee assesses the documents and calculates the admission results. | If accepted, the candidate sends all documents as certified copies. If successful, he/she receives final letter of admission. |
 | The candidate should prepare for the procedure beforehand. It is necessary to: register online, enter personal data and information about education into the IRK system, choose the field of study. remit the application fee to the relevant bank account specified in the IRK System (the account number varies depending on the currency in which the payment is made – PLN, EUR or USD, the payment should be made online). upload required documents (see the list for each program below). The files should be uploaded into IRK system (Personal information>Documents). Please mind the deadlines. |
Registration – see the list of required documents for each program BA in Finance, International Investment and Accounting
A complete application should contain:
Use the checklist to facilitate completing admission application.
The required documents must be submitted in the IRK system no later than by the time of the deadline. If you intend to sit a test in proficiency in English to meet the entry requirement of language level, you should book the test early. By arranging to sit your test early, you’ll be able to ensure that you meet our deadline for providing your qualification.
MA in Quantitative Finance/International Economics/Data Science and Business Analytics
A complete application should contain:
Optionally applicants may attach:
Use the checklist to facilitate completing admission documents.
The required documents must be submitted in the IRK system no later than by the time of the deadline. If you intend to sit a test in proficiency in English to meet the entry requirement of language level, you should book the test early. By arranging to sit your test early, you’ll be able to ensure that you meet our deadline for providing your qualification.
FAQ (Apostille/Legalization; level of English)
What does Apostille/Legalization mean?
What level of English do I need to have? Which certificates does the Admission Committee accept?
Accepted by the University of Warsaw document confirming proficiency in English language (at least B2 level) [A list of documents certifying the knowledge of English, accepted in the process of recruitment]
Candidates who don’t have any certificate from the list of required documents confirming English proficiency, should contact Recruitment Committee: admissions@wne.uw.edu.pl
See the rules of calculation of the results BA in Finance, International Investment and Accounting
The admission results will be calculated based on High School Graduation Certificate (with grades). Candidates will be ranked by means of the following mechanism:
W = Px0,05 + Mx0,75 + Jx0,20
where:
W – the final result
P – result from the Polish/native language on the standard or higher level
M – result from the Mathematics on the standard or higher level
J – result of the foreign language on the standard or higher level;
According to the admission rules the results of high school certificates at ordinary level require additional element in the formula: multiplication by 0,6. Based on the Admission Committee’s interpretation of the regulations which refer to equal chances for all candidates the rule refers not only to Polish high school graduation certificates (świadectwo maturalne), but also foreign ones. In case of advanced level certificates the formula stays untouched.
The ranking list of candidates is prepared based on the maturity exam/attestat/arbitur/final high school certificate results or equivalent exam that grants the access to higher education. Ranking points are calculated as the weighted average of the following subjects: the original language of the maturity exam (weight 5%), mathematics (75% weight), a modern foreign language (other than the original language of the exam, 20% weight).
Maturity exam results are expressed in percentage points as a ratio of grades obtained by the candidate to the highest grades obtained in the country. In the case of the latter expressed ratings they are converted into a numerical scale by successively assigning positive grade numbers, ranging from 1. Lack of the result of the maturity exam subject = 0 points.
| Compulsory subject | |||
| Polish | Mathematics | One modern foreign language | |
| Basic level x 0.6 or Advanced (enhanced) level x 1 | Basic level x 0.6 or Advanced (enhanced) level x 1 | A choice among: English, French, German, Spanish, Italian, Russian, Portuguese, Slovak, Swedish Advanced (enhanced) level x 1 | |
| Weight = 5% | Weight = 75% | Weight = 20% |
| Compulsory subject | |||
| Polish or a language A1 from group 1* | Mathematics | One modern foreign language | |
| Standard level (SL) x 0,6 or Higher level (HL) x 1 | Standard level (SL) x 0,6 or Higher level (HL) x 1 | A choice among: English, French, German, Spanish, Italian, Russian Higher level (HL) x 1 | |
| Weight = 5% | Weight = 75% | Weight = 20% |
* In case of a lack of Polish language; the languages in columns 1 and 3 have to be different
7 points– 100%
6 points– 90%
5 points– 75%
4 points– 60%
3 points– 45%
2 points – 30%
| Compulsory subject | |||
| Polish or a language from L1* | Mathematics | One modern foreign language | |
| Standard level (SL) x 0,6 or Higher level (HL) x 1 | Standard level (SL) x 0,6 or Higher level (HL) x 1 | A choice among: English, French, German, Spanish, Italian, Russian Higher level (HL) x 1 | |
| Weight = 5% | Weight = 75% | Weight = 20% |
* In case of a lack of Polish language; the languages in columns 1 and 3 have to be different
9,00 – 10,00 = 100%
8,00 – 8,95 = 90%
7,00 – 7,95 = 75%
6,00 – 6,95 = 60%
5,00 – 5,95 = 45%
4,00 – 4,95 = 30%
The admissions points will be calculate based on the same mechanism as for Candidates with a Polish maturity exam (2005 – 2021)
| Compulsory subject | |||
| Polish | Mathematics | One modern foreign language | |
| Basic level x 0.6 or Advanced (enhanced) level x 1 no level x 0,8 | Basic level x 0.6 or Advanced (enhanced) level x 1 no level x 0,8 | A choice among: English, French, German, Spanish, Italian, Russian, Portuguese, Slovak, Swedish Basic level x 0.6 or Advanced (enhanced) level x 1 no level x 0,8 | |
| Weight = 5% | Weight = 75% | Weight = 20% |
| Maturity till 1991 | Maturity after 1991 |
| 5-100% | 6-100% |
| 4-85% | 5-90% |
| 3-40% | 4-75%% |
| – | 3-50% |
| – | 2-30% |
The result will be the arithmetic average of all grades which have been firstly converted into percentages. According to University of Warsaw Regulations on Admission the candidate may disagree with the result within seven days after the announcement in the IRK system.
MA in International Economics
Qualification is based on the ranking list. Ranking points are the sum of the following elements:
1. Research Experience Letter (maximum 30 points)
2. Points awarded for subjects completed during previous studies (maximum 70 points),
Candidate can receive maximum 10 points for each subject. Taken under consideration is the final grade obtained from the subject and the position in the ranking of the institution issuing the diploma (Academic Ranking of World Universities (ARWU), also known as Shanghai Ranking) in the year of recruitment for studies at the University of Warsaw.
The amount of points for each subject is the sum of:
3. During the verification process, the Admission Committee takes under consideration following subjects. Candidate can choose maximum 7 subjects.
In the application form, the candidate indicates the subjects completed in the previous studies, having at least 3 ECTS points, equivalent to the following subjects:
The candidate is required to enter in the application form the number of ECTS points from the selected subject, the obtained grade and the scale of grades.
The candidate may obtain maximum of 100 ranking points. Minimum amount of points required for qualification: 30.
The data should be provided in the IRK system.
MA in Quantitative Finance
Qualification is based on the ranking list. Ranking points are the sum of the following elements:
1. Research Experience Letter (maximum 30 points)
2. Points awarded for subjects completed during previous studies (maximum 70 points),
Candidate can receive maximum 10 points for each subject. Taken under consideration is the final grade obtained from the subject and the position in the ranking of the institution issuing the diploma (Academic Ranking of World Universities (ARWU), also known as Shanghai Ranking) in the year of recruitment for studies at the University of Warsaw.
The amount of points for each subject is the sum of:
3. During the verification process, the Admission Committee takes under consideration following subjects. Candidate can choose maximum 7 subjects.
In the application form, the candidate indicates the subjects completed in the previous studies, having at least 3 ECTS points, equivalent to the following subjects
The candidate is required to enter in the application form the number of ECTS points from the selected subject, the obtained grade and the scale of grades.
The candidate may obtain maximum of 100 ranking points.Minimum amount of points required for qualification: 30.
The data should be provided in the IRK system.
MA in Data Science and Business Analytics
Qualification is based on the ranking list. Ranking points are the sum of the following elements:
1. Research Experience Letter (maximum 30 points)
2. Points awarded for subjects completed during previous studies (maximum 70 points),
Candidate can receive maximum 10 points for each subject. Taken under consideration is the final grade obtained from the subject and the position in the ranking of the institution issuing the diploma (Academic Ranking of World Universities (ARWU), also known as Shanghai Ranking) in the year of recruitment for studies at the University of Warsaw.
The amount of points for each subject is the sum of:
3. During the verification process, the Admission Committee takes under consideration following subjects. Candidate can choose maximum 7 subjects.
In the application form, the candidate indicates the subjects completed in the previous studies, having at least 3 ECTS points, equivalent to the following subjects
The candidate is required to enter in the application form the number of ECTS points from the selected subject, the obtained grade and the scale of grades.
The candidate may obtain maximum of 100 ranking points.Minimum amount of points required for qualification: 30.
Research Experience Letter
Research Experience Letter is a a document presenting description of the experiences related to the field of study on which Candidate is applying to, confirmed by project supervisors.
It should be prepared in English language and should contain minimum two projects.
Projects implemented as part of studies, student activities, research work and professional experience will be considered.
Research Experience Letter should consist of:
Research Experience Letter pointed elements (maximum 30 points):
Examples of projects:
Example form of Research Experience Letter [.doc] [.pdf]
 | Selection process. Assessment of the documents: The Admission Committee makes decisions based solely on the application submitted in the IRK system. No entry exams, nor interviews are conducted. Please note that the Committee will not consider any documents beyond the list of required ones (look at the check-list above, point 1.). The Admission Committee calculates admission points in accordance to the rules stated above (point 1.) and announces a ranking list. Preliminary decisions on acceptance are made on the basis of academic merit (number of points) and the availability of places on specific programme. Preliminary admission decisions are announced in the IRK system. The candidate may disagree with the result within 7 days from the moment of the announcement in the IRK system. |
 | After preliminary decision on acceptance the candidate should submit a full application to finalize the procedure: Candidates who obtain positive preliminary decisions are requested to deliver necessary documents (enlisted below) The candidates who require visa are advised to contact Polish Embassy regarding visa only after delivering the full application and receiving at least a scan of a final decision on admittance. After receiving the decision the candidate will also receive an e-mail with individual bank account number to pay the fee and data to book a place in dormitory (please note that in case of a late finalization of the procedure dormitory is not guaranteed). The registration to courses is organized at the end of September each year. Non-EU candidates are obliged to submit student visa confirmations. If the candidate does not deliver full application on time, he/she will not receive opportunity to study. The full application should be handed in or sent via traditional/fast post to the Office of Admissions at The Faculty of Economic Sciences (room A403 – 4th floor building A, Dluga 44/50 Street, 00-241 Warsaw, Poland) |
BA – Accepted candidates submit the following documents
Submitting the documents:
Candidates should have hard copies of the documents and xerox copies which will be certified in the office.
To limit the face-to-face contact we would like to kindly ask you to:
Please find the documents that should be delivered enlisted below:
Please note!
Documents printed out from individual registration account at IRK system must be signed by the candidate.
In case of documents sent via fast post it is required that the documents are sent as copies certified by a notary.
MA – Accepted candidates submit the following documents
Submitting the documents:
Candidates should have hard copies of the documents and xerox copies which will be certified in the office.
To limit the face-to-face contact we would like to kindly ask you to:
Please find the documents that should be delivered enlisted below:
Please note!
Documents printed out from individual registration account at IRK system must be signed by the candidate.
In case of documents sent via fast post it is required that the documents are sent as copies certified by a notary.
Please also read other important information.
Students can apply for tuition fee waivers according to the Resolution No 16 of the Teaching Council of the Faculty of Economic Sciences University of Warsaw.
Faculty of Economic Sciences, University of Warsaw does not provide recruitment process for MA studies in transfer mode.
The Candidate who wish to transfer for BA studies offered by the Faculty from other university should:
Attention! If you are interested in applying for dormitory please log into USOS and follow the instruction (access data to the students system is provided by the students office after finalizing the procedure):
1. choose the website: https://usosweb.uw.edu.pl/
2. log in
3. choose ‘student’s section’
4. choose ‘applications’ (the second one)
5. fill in the form concerning accommodation
The application should be accepted by you (the last stage in USOS), printed, signed (with your hand written signature), sent via e-mail (to: my e-mail and bsstud@adm.uw.edu.pl) and to the office, room K3 (inowotczynska@wne.uw.edu.pl). The decision about your accommodation will be made by Main Office for Students’ Affairs till mid-August and it will be visible in the USOS.
Student should submit the application for dormitories via system USOSweb within 10 days after receiving access to the system. Student should also provide an information about the distance between their home and the Faculty of Economics Sciences (we suggest to use google maps with option “directions”).
Please also remember that BA students from non-Hague Convention countries will need to participate in the nostrification procedure till the end of the first semester. The procedure is held by Kuratorium Oświaty.
After finalizing the procedure the student will receive a document which states that his/her high school diploma is recognized as equal to Polish maturity exam.
Contact Office of Admissions
admissions@wne.uw.edu.pl
+ 48 22 55 49 190