Type:
Bachelor
Speciality:
056802.01.6 - Financial Mathematics
Specialisation:
056802.01.6 - Actuarial and Financial Mathematics
Qualification awarded:
Bachelor’s degree in Financial Mathematics
Programme academic year:
2025/2026
Mode of study:
Full time
Language of study:
Հայերեն
1. Admission criteria/requirements
Admission is carried out in accordance with the decision of the Government of the Republic of Armenia No. 476-N of April 7, 2022 on “Procedure for Admission to State and Non-State Higher Education Institutions of the Republic of Armenia (Bachelor’s Degree Programme)”,
Entrance exams:
· Mathematics (written)
· Physics or English (written)
· Armenian Language (written, non-competitive)
Entrance exams:
· Mathematics (written)
· Physics or English (written)
· Armenian Language (written, non-competitive)
2. Programme Objectives
The programme aims to prepare mathematicians working in the financial sector, including financial analysts, actuaries, developers of financial instruments, financial flow managers, and risk managers who can work in investment, hedging, banking, and other financial and non-financial institutions.
3. Educational outcomes of the programme
Upon completion of the course, the student will be able to:
- Present the fundamentals of mathematical analysis, analytic geometry, probability theory, and applied statistics.
- Interpret obtained results and present methods and alternatives for solving practical problems.
- Present actuarial modelling methods and actuarial aspects of investment activities.
- Formulate the characteristics and challenges of insurance, principles of reinsurance, and explain the specifics of insurance activities in the international business environment.
- Present the fundamentals of investment portfolio construction and management, and explain the principles of using derivative instruments in portfolio construction.
- Present the main quantitative, statistical, optimization, and econometric methods and models used for micro- and macroeconomic and financial analyses, risk management, and decision-making.
- Design alternative decision-making scenarios under conditions of risk and uncertainty, applying modern quantitative and statistical methods to forecast and manage risks based on the best available information.
- Analyse and assess economic conditions, forecast economic development prospects at both macro- and micro-levels using mathematical and statistical methods and models.
- Assess risks related to insurance, reinsurance, and bankruptcy, and identify methods for their mitigation or management.
- Classify financial instruments, indicate their areas of application and suitability, as well as use financial derivatives, and interpret the specifics of corporate governance.
- Use professional software packages (Matlab, MS Excel, and Python) to solve practical problems.
- Apply methods of mathematical analysis, higher algebra, analytic geometry, probability theory, and applied statistics to solve practical problems.
- Make decisions under uncertainty in a continuously changing environment by seeking adequate solutions.
- Work with large databases to conduct impact assessments, analyses, and forecasts.
- Participate in discussions, argue and present personal viewpoints, and perform teamwork.
- Use professional literature (including foreign-language sources), prepare scientific reports, and specialize in various fields of science and economics requiring rational thinking, analytical skills, and logic.
- Be a well-rounded, competent citizen capable of overcoming everyday challenges.
4. Assessment methods
Yerevan State University operates a multi-component system for continuous assessment of students’ knowledge, which includes:
1. Assessment of mastery of course (module) subdivisions during the semester (2 midterm exams).
2. Ongoing assessments of individual topics during the semester.
3. Assessment of independent assignments (individual work).
4. Assessment of independent and/or group research during the semester (research can replace one of the midterms).
5. Assessment of class participation.
6. Final assessment during the examination period, evaluating the level of achievement of the intended learning outcomes of the course (module).
Depending on workload, mode of study, teaching methods, and the importance of the course for professional knowledge and skills formation, courses are divided into four groups:
1. With the final examination.
2. Without final examination.
3. Without midterm examinations.
4. Check-up based.
The assessment components for each course are specified in the course description. The weight of each component in the final grade is determined by the lecturer in agreement with the Chair.
1. Assessment of mastery of course (module) subdivisions during the semester (2 midterm exams).
2. Ongoing assessments of individual topics during the semester.
3. Assessment of independent assignments (individual work).
4. Assessment of independent and/or group research during the semester (research can replace one of the midterms).
5. Assessment of class participation.
6. Final assessment during the examination period, evaluating the level of achievement of the intended learning outcomes of the course (module).
Depending on workload, mode of study, teaching methods, and the importance of the course for professional knowledge and skills formation, courses are divided into four groups:
1. With the final examination.
2. Without final examination.
3. Without midterm examinations.
4. Check-up based.
The assessment components for each course are specified in the course description. The weight of each component in the final grade is determined by the lecturer in agreement with the Chair.
5. Graduates future career opportunities
Graduates may pursue professional careers in:
Financial organizations:
· Commercial banks
· Credit institutions
· Investment companies
· FinTech companies
· Insurance companies
· Pension funds
Non-financial organisations:
· “Ohanyan Brand Company” CJSC
· “Sil Capital Construction” CJSC
· “Bet Construct” Bookmaking Company
· “Soft Construct” LLC
Public sector institutions:
· Central Bank of the Republic of Armenia
· Ministry of Finance of the Republic of Armenia
· Ministry of Economy of the Republic of Armenia
State Revenue Committee of the Republic of Armenia
Financial organizations:
· Commercial banks
· Credit institutions
· Investment companies
· FinTech companies
· Insurance companies
· Pension funds
Non-financial organisations:
· “Ohanyan Brand Company” CJSC
· “Sil Capital Construction” CJSC
· “Bet Construct” Bookmaking Company
· “Soft Construct” LLC
Public sector institutions:
· Central Bank of the Republic of Armenia
· Ministry of Finance of the Republic of Armenia
· Ministry of Economy of the Republic of Armenia
State Revenue Committee of the Republic of Armenia
6. Resources and forms to support learning
. Printed, electronic, and online literature
· Computer laboratories
· Computer laboratories
7. Educational standards or programme benchmarks used for programme development
1. National Qualifications Framework of the Republic of Armenia (Government Decision No. 714-N of July 7, 2016).
2. Sectoral Qualifications Framework for “Mathematics” (2022).
The Bachelor’s degree programmes in Financial Mathematics of Moscow State University, London State University, University of Cambridge, University of Manchester, University of Zurich, and Columbia University were used as reference benchmarks.
2. Sectoral Qualifications Framework for “Mathematics” (2022).
The Bachelor’s degree programmes in Financial Mathematics of Moscow State University, London State University, University of Cambridge, University of Manchester, University of Zurich, and Columbia University were used as reference benchmarks.
8. Requirements for the academic staff
1. General Competencies
Teaching/Pedagogical:
· Ability to design a course syllabus (calendar plan).
· Knowledge of interactive teaching methods and ability to apply active learning techniques.
Research:
· Ability to work with various scientific sources and online information resources.
· Ability to conduct financial, statistical, and economic research using mathematical tools, econometric models, and programming packages.
· Ability to lead research teams.
Communication:
· Oral communication skills.
· Ability to present research findings in written form.
· Knowledge of a foreign language (at least B1 level in English).
ICT Skills:
· Proficiency in MS Office (Word, Excel, PowerPoint).
· Ability to use modern social platforms.
· Ability to prepare and deliver presentations (pptx, Prezi, Canva, etc.).
Other Competencies:
· Knowledge of professional ethics and legal norms (especially in the financial sector).
· Ability to assess necessary resources and implement programmes effectively.
· Time management and planning skills.
2. Professional Competencies
· Ability to conduct financial, statistical, and economic research using mathematical tools, econometric models, and programming packages.
· Ability to present financial modelling methods.
· Ability to present actuarial modelling methods.
· Ability to conduct and present economic analyses using mathematical and statistical methods and models.
· Ability to design and present investment portfolio construction and management.
· Ability to present quantitative, statistical, and econometric methods used for financial analysis, risk management, and decision-making.
3. General Requirements
Academic Degree:
· Academic degree and/or title in physical-mathematical, technical, or economic sciences, or in some cases a Master’s degree in the relevant or related field.
· Scientific and/or methodological publications.
· Participation in conferences and/or workshops.
Teaching Experience:
· Experience in teaching professional courses and/or conducting training sessions.
· Participation in local or international professional development programmes.
Practical Experience:
· At least 2 years of professional experience in finance or a related field.
Other Requirements:
· Teaching portfolio, including online materials for at least 50% of taught courses.
· Average student evaluation score of at least 4.0 (for teaching professors).
Teaching/Pedagogical:
· Ability to design a course syllabus (calendar plan).
· Knowledge of interactive teaching methods and ability to apply active learning techniques.
Research:
· Ability to work with various scientific sources and online information resources.
· Ability to conduct financial, statistical, and economic research using mathematical tools, econometric models, and programming packages.
· Ability to lead research teams.
Communication:
· Oral communication skills.
· Ability to present research findings in written form.
· Knowledge of a foreign language (at least B1 level in English).
ICT Skills:
· Proficiency in MS Office (Word, Excel, PowerPoint).
· Ability to use modern social platforms.
· Ability to prepare and deliver presentations (pptx, Prezi, Canva, etc.).
Other Competencies:
· Knowledge of professional ethics and legal norms (especially in the financial sector).
· Ability to assess necessary resources and implement programmes effectively.
· Time management and planning skills.
2. Professional Competencies
· Ability to conduct financial, statistical, and economic research using mathematical tools, econometric models, and programming packages.
· Ability to present financial modelling methods.
· Ability to present actuarial modelling methods.
· Ability to conduct and present economic analyses using mathematical and statistical methods and models.
· Ability to design and present investment portfolio construction and management.
· Ability to present quantitative, statistical, and econometric methods used for financial analysis, risk management, and decision-making.
3. General Requirements
Academic Degree:
· Academic degree and/or title in physical-mathematical, technical, or economic sciences, or in some cases a Master’s degree in the relevant or related field.
· Scientific and/or methodological publications.
· Participation in conferences and/or workshops.
Teaching Experience:
· Experience in teaching professional courses and/or conducting training sessions.
· Participation in local or international professional development programmes.
Practical Experience:
· At least 2 years of professional experience in finance or a related field.
Other Requirements:
· Teaching portfolio, including online materials for at least 50% of taught courses.
· Average student evaluation score of at least 4.0 (for teaching professors).
