Detail programu/oboru

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, 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 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 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 complete application form, the applicants are required to provide:

• 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,

• Transcript of records and academic results from previous studies,

• Structured CV,

• Motivation letter,

• Document showing the level of English proficiency,

• Letter(s) of recommendation (references).

English Language Competence

Applicants are required to have a good command of English and good analytical quantitative skills with sufficient background in mathematics and/or statistics. An applicant’s competence in English should correspond to at least the B2 level under the CEFR system. Applicants should be able to read a Masters-level textbook and write seminar papers in English without difficulty. Such abilities are best demonstrated by standardized tests such as TOEFL (preferred), IELTS, ESOL, etc. We recommend that applicants register our institutional code 6633 when taking the TOEFL exam so that the results are sent directly to our faculty. A TOEFL score above 90 and IELTS above 6.5 points gives an applicant good chances for admission.

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

• are native English speakers, or

• have studied in English at the secondary school level for at least two years with an average grade point average (GPA) in the top 35 % of the grading scale, or

• have studied in English at the university level for at least one year with an average GPA in the top 50% of the grading scale, or

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

• have passed Level II of the CFA exams in 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. The certificate should contain contact information (an e-mail address and a telephone number) to person (a program director, or an employee supervisor) who can confirm the scope of the use of 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 and give them a ranking from 0-10 points. The admission committee evaluates (i) candidates’ aptitude for studies based on their past study results and on the results from ability tests (5.0 out of 10.0 points), (ii) their command of English (2.0 out of 10.0 points), and (iii) their motivation for studies (3.0 out of 10.0 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. Upon request, applicants may also be asked to take part in an online interview to assess their potential.

Podmínkou přijetí ke studiu v magisterském studijním programu je dosažení středního vzdělání s maturitní zkouškou. Podmínkou přijetí ke studiu v magisterském studijním programu, který navazuje na bakalářský studijní program, je rovněž řádné ukončení studia v kterémkoliv typu studijního programu.