Mathematics in Economics and Finance

General information

Name of the programme: Mathematics in Economics and Finance
Type of programme: academic, 1st Bologna cycle
Degree awarded: "diplomirani finančni matematik (UN)" equiv. to B.Sc. in Finance Mathematics
Duration: 3 years (6 semesters)
ECTS-credits: 180
Programme structure: 30 courses (4 electives)
Mode of study: full-time
Language of study: Slovene

Programme coordinatortop

Assist. Prof. Rado Pezdir, PhD

For information regarding application, enrolment and other administrative procedures please contact Student Services.

About the programmetop

In contrast to the Mathematics programme, there is more emphasis on applications, where the interaction between economic and financial content and mathematical content is given particular attention. Graduates are well prepared to take on challenges not only in the banking and insurance sector but also in other financial institutions and in situations where mathematical skills are needed to assess and manage risk. This includes careers in the gambling industry, where games of chance must be analysed, or in enterprises that have to control their financial and other risks.  Because of their combination of mathematical skills and economic thinking, graduates may have a significant edge competing for jobs with candidates who possess a degree in economics with no emphasis on mathematical tools - for instance, careers involving cryptology, assessment of risk in insurance or finance, and control of randomness in games of chance. The problems arising in these disciplines are essentially mathematical and require a broad palette of mathematical methods that can only be mastered through a program that combines mathematics with economics and finance.  After completing their first degree in three years, students can continue either in the Mathematics programme, which is more theoretical in nature, or they can choose the programme in Mathematics with Financial Engineering.

Educational and professional goalstop

• To demonstrate the importance of analytical thinking and argumentation, as well as the usefulness of various mathematical problem-solving methods
• To develop mathematical thinking, reasoning and argumentation in diverse mathematical areas
• To recognise the connections between different mathematical theories and other natural and social sciences
• To develop the capacity to analyse given data and reach new conclusions
• To teach students to employ modern technological tools (e.g. calculators, PCs, graphoscopes, projectors) in solving and demonstrating mathematical and economical problems and concepts
• To develop a sense for identifying and employing appropriate mathematical skills, knowledge and techniques (algebraic, numeric or graphic) in a given situation
• To develop a sense of team work

Course structuretop

During their studies, students must complete a total of 30 courses (26 compulsory,  1 internal elective and 3 external elective).

The courses are organized into four areas: mathematical, economic-financial, applied-mathematical and the practical area (table 2). In the applied mathematical area there are courses which contains financial-economic elements.

All courses are awarded 6 ECTS-credits. One ECTS-credit encompasses 30 hours of student work. In addition to the student’s presence (at lectures, seminars, in-class and laboratory practical work) this also includes independent work (literature study, preparation for examinations, home assignments, seminar and project work. etc.). The courses require 90 hours of a student’s presence (contact hours).

Students are advised to choose an external elective course in the 3rd year in the field of economy.

SHORT DESCRIPTIONS OF COURSES are available HERE.

As internal elective courses students can choose courses from other study programmes:

• Mathematics (all courses that are not compulsory courses of the study programme Mathematics in Economics and Finance);
• Biopsychology (course Psychology of Problem-Solving).

These are all internal elective courses of the study programme. Every academic year, the Faculty offers a different (shorter) selection of elective courses.

Course structure and programme information for student enrolled from 2013/14 - 2016/17 (MF-13)

In the past year changes occurred in the course plan. In the beginning of this section you can find the course plan for students enrolled from the academic year 2017/18. Here you can find information regarding course structure, compulsory and elective courses, and also short description of courses for students enrolled for the first time in the academic years 2013/14 - 2016/17 (MF-13):

• course structure, short description of courses.

Elective coursestop

Elective courses are internal or external elective courses. All courses are awarded 6 ECTS-credits.

INTERNAL elective courses are courses within the study programme; the list of all internal elective courses is available in the section (table 6). 

EXTERNAL elective courses: students may select external elective courses from study programmes provided by other institutions of higher education in Slovenia and internationally. The courses selected may fall within the fields of Mathematics, Financial Mathematics and Computer Science. Regarding to students' specific interest, a student can choose external elective courses from other study programmes too.
Students may also choose a course from the set of internal elective courses as an external elective course.

Students are advised to choose an external elective course in the 3rd year in the field of economy.

Every academic year, the Faculty offers a different selection of elective courses from the internal elective courses listed. The Faculty tries to meet student interests within the limits of the Faculty’s resources. The final selection of elective courses for the next academic year is published in July. The coordinator will help guide students when choosing their elective courses.

For any further information regarding elective course you  can contact the coordinator: Assoc. Prof. Arjana Brezigar Masten, PhD

Admission requirementstop

Admission to the first year of study shall be granted to applicants having:

• passed the matura examination; or            
• passed the vocational matura examination in a 4-year secondary-school programme and a final examination in the general matura subject Mathematics; insofar as the aforementioned subject has already been taken within the framework of the vocational matura examination, applicants must pass any other general matura subject; the selected subject cannot be the same as one of the subjects passed in the framework of the vocational matura;
• successfully completed any four-year secondary-school programme before 1 June 1995.

In the case of enrolment limitations, applicants shall be selected in accordance with the following criteria:

• applicants under Point a) shall be selected on the basis of:
  • overall matura results (40%)
  • overall results in the 3^rd and 4^th year of secondary school (20%)
  • results in the subject Mathematics in the 3^rd and 4^th year of secondary school (40%)
• applicants under Point b) shall be selected on the basis of:
  • overall vocational matura results (20%)
  • overall results in the 3^rd and 4^th year of secondary school (20%)
  • results in the subject Mathematics in the 3^rd and 4^th year of secondary school (40%)
  • results in the additional matura subject examination (20%)
• applicants under Point c) shall be selected on the basis of:
  • overall final examination results (40%)
  • overall results in the 3^rd and 4^th year of secondary school (20%)
  • results in the subject Mathematics in the 3^rd and 4^th year of secondary school (40%)

Admission may also be gained by an applicant having completed a comparable study programme abroad. Prior to enrolment the applicant must apply for recognition of completed education.

Continuation of studies according to the transfer criteriatop

Transfers between study programmes are possible on the basis of the Higher Education Act, Criteria for Transferring between Study Programmes and in accordance with other regulations of this field.

The transition between study programmes is the enrolment in the higher year of the study programme, in case of leaving the education at the initial study programme and continuing the study process at another study program of the same degree. The transition takes into account the comparability of the study programmes and the completed study obligations of the candidate in the initial study program.

Access to year 2 or year 3 of the study programme of Mathematics in Economics and Finance on the basis of the Criteria for Transferring between Study Programmes is granted to candidates of a related first-cycle study programme or a pre-Bologna reform undergraduate study programme, provided that the following conditions have been met:

• the candidate fulfils the requirements for admission to the study programme of Mathematics in Economics and Finance
• the completion of the initial study programme which the candidate is transferring from ensures the acquisition of comparable competencies as those envisaged by the study programme of Mathematics in Economics and Finance
• other conditions have also been met, in accordance with the Criteria for Transferring between Study Programmes (a comparable course structure, course requirements completed)

Individual applications for transfer shall be considered by the relevant UP FAMNIT committee. Apart from comparability between both fields of study, the committee shall also consider the comparability between the study programmes, in accordance with the Criteria for Transferring between Study Programmes.

Enrolment on the basis of the Criteria for Transferring between Study Programmes is also open to candidates of a related study programme abroad who have been, in the process of recognition of their studies abroad, legally granted the right to continue their educational training in the study programme of Mathematics in Economics and Finance.

In case of enrolment restrictions, applicants shall be selected on the basis of the average grade obtained during the study programme they are transferring from.

Advancement requirementstop

For enrolment in the next study year it is necessary to collect at least 42 ECTS-credits from courses and exams in the current study year, and to fulfil all study obligations (60 ECTS-credits) for the previous study year.

The Study Committee of the Faculty may permit a student who has not fulfilled all study obligations for the particular year to enrol in the next year. The student is obliged to submit a formal written request to the Study Committee. Progress to the next year may be approved if a student could not fulfil the obligations for justifiable reasons. Students may repeat a year only once during their study period (provided they earn at least 18 ECTS-credits from courses and exams in the current study year).

Requirements for the Completion of Studies

Students shall be deemed to have completed their studies when they fulfil all the prescribed study requirements for a total of 180 ECTS-credits.

Graduate competenciestop

General competencies

• The ability to analyse, synthesise and predict solutions and consequences of factors related to the discipline of mathematics, and to calculate financial expenses
• Critical assessment of developments in the field of mathematics and the ability to use mathematics in finance
• Development of communication skills
• Skills of co-operation, team work and project work
• The ability to independently seek knowledge and to integrate it with existing knowledge
• The ability to seek and interpret new information and to place it within the context of the discipline of mathematics
• Autonomy in professional work

Subject-specific competencies

• The ability to describe a given situation with the correct use of mathematical symbols and notations
• The ability to explain their own understanding of mathematical concepts and principles
• The ability to solve mathematical and other problems using modern technology
• The ability to use the algorithmic approach - to solve a given problem by developing an algorithm
• The ability to perform a numerical, graphical and algebraic analysis of a given problem
• The ability to deduce new logical conclusions from the information given
• The ability to tackle a given mathematical problem in economics and finance with confidence and find its solution
• The ability of approximate problem-solving through the use of numerical methods

Graduate employment opportunitiestop

Graduates have abundant employment possibilities: in Statistics (Statistical Office, insurance companies, banks), Mathematical Finance (insurance companies, banks, stock exchange, brokerage firms), Gambling Theory (lottery, sports lottery), and Logistics, as well as in the field of education. They could work in any position where a basic knowledge of economics and finance, as well as the capability to use analytical skills, is needed. The programme will also provide them with the knowledge necessary for the continuation of their studies at graduate level.