Branch programme/details

Master in Finance and Data Analytics  (MFDA) is a two-year English-language Master's degree programme that is designed to pair the key areas of finance and data analytics. The programme takes a data driven approach to analysis of financial markets and organisational information covering key theoretical principles of finance, financial modeling and financial markets to prepare students for a dynamic career in finance, banking and a range of other sectors. 

Focusing on modern statistical analysis, data modeling, programming, big data and machine learning techniques, the program equips the student with a thorough understanding and advanced skills in theoretical and applied finance with emphasis on computational aspects of the problems. Programme's graduates will gain quantitative, statistical and technical skills crucial for modern finance and will have the expertise to independently define and creatively solve a broad variety of theoretical as well as practical problems. Emphasis is put on advanced econometrics, statistical methods and data analysis and applicants must have solid background in Mathematics as well as good command of English. Courses are taught both by faculty members of the Institute of Economic Studies (IES) and external professionals from international institutions, central banks and the financial industry. Students are exposed to detailed and advanced knowledge of both financial theory and applied financial methods, with focus on computational aspects of the methods. In particular, courses include Big Data analysis, modern approaches to asset pricing using statistical learning, understanding of financial instruments, advanced econometrics, behavioral finance and time series analysis.

Description of verification and evaluation criteria:

In addition to the application form, every applicant needs to provide the following documents:

a) Copy of a diploma to show completed Bachelor (or higher) studies or confirmation that ongoing Bachelor studies will be completed in the current academic year

b) Transcript of records and academic results from previous studies

c) Structured CV

d) Motivation letter

e) Document showing the level of English proficiency

f) Letter(s) of recommendation (references).
 

Ad a) Confirmation of studies may be substituted with a transcript of records, provided that these are from the same academic year as the application.

Ad e) Applicants should provide a certificate from one of following standardized tests:

• IELTS Academic - the minimum required overall band score of 6.5, with band score 6.0 or above in all four components;
  
  

• TOEFL Internet-Based Test (iBT) & TOEFL iBT Home Edition - the minimum required overall score of 83, with a minimum scaled score in the four sections: reading 19, writing 24, listening 20, speaking 20;
  
  

• Cambridge ESOL FCE - minimum Cambridge English Scale Score of 180;
  
  

• Cambridge ESOL CAE and CPE receiving a certificate.
  
  

A standardized English test is not required from applicants who:

• are native English speakers;
  
  

• have studied in English at the secondary school level for at least two years;
  
  

• have studied in English at the university level for at least one year;
  
  

• have worked for at least one year at a company where the language of communication was English.
  
  

When a score from an English-language test is not presented, the applicants should provide a certificate of their use of English during their prior studies or employment to support their claim. The certificate should contain contact information (an email address and a telephone number) to a person (a programme director, or an employee supervisor) who can confirm the scope of the use of the English language in the program or employment.

Analytical Skills

Applicants should have good analytical quantitative skills. Applicants should have studied Bachelor level mathematics (e.g. calculus and linear algebra) at least in the extent of one course in one year (e.g., have passed at least two courses in two, not necessarily subsequent, terms).  Prior knowledge of economics or finance is an advantage, but it is not required. Applicants should be familiar with the following topics of calculus and linear algebra: functions, limits, derivatives, partial derivatives, optimization techniques, matrix algebra, and differential and difference equations. They should have an introductory-level understanding of probability distributions, hypothesis testing, linear regressions, and the OLS estimation method.

Applicants’ analytical and quantitative ability is best demonstrated by the GRE tests, GMAT tests or by completing one or more levels of the CFA Exams. For GREs, please use our institutional code 1649 so that the results are sent directly to our faculty. A GMAT score above 600 points and above 40 points in the quantitative section or a GRE score above 155 points in the quantitative section gives an applicant good chances for admission.

We do not require a standardized test score from applicants who:

• have studied in a quantitative program at the university level with at least the equivalent of 30 ECTS credits of mathematics, statistics, econometrics, or similar, with a score for each of the courses in the top 50 % of the grading scale, or
  
  

• have worked for at least one year in a private or governmental institution in the area of statistics or econometrics where they used quantitative methods on a regular basis and where they took responsibility for independent tasks, or
  
  

• have achieved a high rank in a recognized competition in mathematics, e. g. mathematical Olympiad. When a score from an ability test is not presented, the applicants should provide a certificate of their past achievements, studies or employment.
  
  

While we do not require a score from GRE or GMAT test when the conditions above are met, a good GRE or GMAT score still significantly strengthens the application and increases an applicant´s chances for admission.

All documents which are not originally in Czech, Slovak or English must be officially translated into English.

All candidates must complete Bachelor level education before they start studying the program. The selection of candidates is based on the submitted documents with the ranking 0-100 points. The admission committee evaluates (i) candidates’ aptitude for studies based on their past study results and on the results from ability tests (0-50 points), (ii) their command of English (0-20 points), and (iii) their motivation for studies (0-30 points). The point limit for admission is set by the Dean of the Faculty of Social Sciences of Charles University. The point limit for admission is set by the Dean of the Faculty of Social Sciences of Charles University.

Admission to Master's studies is conditioned by completed secondary education confirmed by a school-leaving certificate. Admission to Post-Bachelor studies (Master's programme) is likewise conditioned by completed education in any type of study programme.