The Master's programme Financial Engineering
Scientific director: Prof. Dr. Jörn Saß
Complex financial markets
In-depth knowledge of and expertise in modern financial mathematics and actuarial science, and the ability to apply these statistically and numerically, are becoming increasingly important in the financial and insurance sectors.
The English-language Master's programme is aimed at graduates of mathematics or other subjects with significant proportions of mathematics who wish to acquire a detailed understanding of financial mathematics.
Objective and degree
The distance learning programme provides the participants with the necessary advanced and theoretical foundations and competencies in the areas of financial mathematics and financial economics, the ability to create links to actuarial science, and imparts statistical and numerical methods.
Graduates of the Master's programme are awarded a diploma from the Technische Universität Kaiserslautern, a certificate documenting conferment of the academic degree Master of Science (M.Sc.) as well as an English-language diploma supplement.
The distance learning programme comprises ten compulsory modules that focus on, for example
- Financial mathematics,
- Interest rate models,
- Financial decision making,
- Economics of banking,
- Insurance mathematics,
- Risk measures and rating systems,
- Financial statistics,
- Computational methods in finance.
Distance learning programmes are basically defined by the fact that students do not physically attend the institution of higher education, instead the institution of higher education comes to them. Both programme organisation and the didactically prepared learning materials are based on the concept of independent learning: the learners are supported in taking personal responsibility for their own learning process by a teaching-learning arrangement that consists of a combination of self-learning materials, on-campus phases and online-based interactions in the online campus. Each programme has an own virtual learning environment within the online campus that accompanies the students for the duration of their course. During the on-campus phases, the students have the opportunity to consolidate and substantiate the self-taught content in the context of practical classes and group work and to further discuss their acquired skills and knowledge in consideration of current issues.
Schedule and organisation
The distance learning programme in Financial Engineering has a standard period of study of six semesters (part-time). Mandatory on-campus phases take place once or twice per semester over a (long) weekend in Kaiserslautern. All written module examinations are also completed during mandatory on-campus phases.
A weekly commitment of around 16-18 hours is required to study the material, complete the assignments (mail-in assignments), take the examinations, complete the online tutorials, pass the oral examinations and complete the Master's thesis.
At a glance
At the moment, the tuition fees are EUR 1,990 per semester as well as the social fee of currently EUR 102 per semester. The one-time fee for the Master's thesis is EUR 500. The tuition fees do not include travel and accommodation expenses or meal allowances during the on-campus phases. Only the social fee is charged in the first and second semester after the end of the standard period of study. Tuition fees are reduced to 30 percent of the original fee as of the third semester exceeding the standard period of study; this does not apply to the Master's thesis fee. The tuition fees are exempted from German VAT and may be tax-deductible if the legal requirements are fulfilled.
Subject to change.
The Master's and Certificate programmes at the DISC are training programmes. The admission requirements are based on the following legal regulations:
- the Higher Education Act (Hochschulgesetz) of the respective federal state,
- the applicable examination regulations (Prüfungsordnung) at the time of enrolment,
- the enrolment regulations.
The specific admission requirements for the TU Kaiserslautern and this programme can be accessed here.
Professionally qualified persons without a university degree have the opportunity to take an aptitude test under certain requirements.
The aim of the aptitude test is to determine whether candidates with professional experience but no university degree have comparable skills and knowledge to candidates with a completed undergraduate degree. The application for admission to the aptitude test must be submitted to the Subdivision Distance Student Affairs.
For more information on deadlines or requirements, please click here.
The distance learning programme starts in the winter semester (October) of every year. Information on the application procedure and deadlines can be accessed here.
The distance learning programme's scientific director is Prof. Dr. Jörn Saß (TU Kaiserslautern).
The distance learning programme Financial Engineering is accredited to award the academic degree Master of Science (M.Sc.). The programme received system accreditation in an internal process from the accreditation council of the cross-university quality management centre.
Admission to the distance learning programme is regulated through a special evaluation points system that can be accessed here. The required prior knowledge of analysis and stochastics can also be acquired in courses that may have to be taken subject to conditions.
We are here for you
Ludmilla Gutmacher M.Sc.
All questions concerning application and examination procedures will be answered by the Subdivision Distance Student Affairs.