Type:
Master
Speciality:
056802.05.7 - Financial Mathematics
Specialisation:
056802.05.7 - Risk Management
Qualification awarded:
Master of Financial Mathematics
Programme academic year:
2025/2026
Mode of study:
Full time
Language of study:
Հայերեն
1. Admission criteria/requirements
Admission is carried out according to the Yerevan State University’s (YSU) Master’s
admission regulations (full-time and part-time), approved by YSU Academic Council
decision N 9/2 of May 26, 2022:
Graduates with a Bachelor’s degree or equivalent qualification from state or
accredited/non-state higher education institutions may apply.
admission regulations (full-time and part-time), approved by YSU Academic Council
decision N 9/2 of May 26, 2022:
Graduates with a Bachelor’s degree or equivalent qualification from state or
accredited/non-state higher education institutions may apply.
2. Programme Objectives
The programme aims to train risk managers, portfolio managers, and financial
specialists with strong mathematical knowledge, capable of professional activity in:
· the public sector,
· financial institutions (investment, hedging, banking, etc.), and
· non-financial organizations.
specialists with strong mathematical knowledge, capable of professional activity in:
· the public sector,
· financial institutions (investment, hedging, banking, etc.), and
· non-financial organizations.
3. Educational outcomes of the programme
Upon completion of the course, the student will be able to:
- Present statistical and econometric methods, and the main principles of time series analysis.
- Explain the fundamental theories of investment management, interpret their features, and demonstrate applications of analytical models.
- Describe risk assessment and pricing of financial assets, fundamental and technical analysis methods, and optimal capital structure selection principles.
- Identify key economic development factors and present models that evaluate their impact, including quantitative and qualitative implications.
- Apply core principles of risk management, identify and evaluate financial risks.
- Design possible decision alternatives under risk and uncertainty using available information.
- Forecast and manage risks at the level of the economy, financial institutions, organizations, and individual projects.
- Use specialized software packages (Matlab, Python, R, MS Excel) for practical problem-solving.
- Apply knowledge of finance, financial markets, and instruments for practical problem formulation and solution.
- Collect information from various sources, create databases, and perform analyses.
- Work effectively in teams and carry out analytical tasks.
- Pursue self-directed learning to improve professional skills.
- Use professional literature, including foreign-language sources.
4. Assessment methods
YSU employs a multi-factor system for evaluating student knowledge and
competencies, including:
1. Assessment of course/module subtopics during the semester (2 mid-term
exams).
2. Check-up evaluations of individual topics during the semester.
3. Evaluation of individual assignments during the semester.
4. Assessment of independent and/or group research (may replace one of the mid-
term exams).
5. Evaluation of participation in class activities.
6. Final assessment of the course/module, evaluating achievement of learning
outcomes.
Courses are categorized into four groups depending on assessment type:
1. Courses with final evaluation,
2. Courses without final evaluation,
3. Courses without mid-term exams,
4. Check-up-based courses.
The weight of each component is determined by the lecturer in coordination with the
Chair.
competencies, including:
1. Assessment of course/module subtopics during the semester (2 mid-term
exams).
2. Check-up evaluations of individual topics during the semester.
3. Evaluation of individual assignments during the semester.
4. Assessment of independent and/or group research (may replace one of the mid-
term exams).
5. Evaluation of participation in class activities.
6. Final assessment of the course/module, evaluating achievement of learning
outcomes.
Courses are categorized into four groups depending on assessment type:
1. Courses with final evaluation,
2. Courses without final evaluation,
3. Courses without mid-term exams,
4. Check-up-based courses.
The weight of each component is determined by the lecturer in coordination with the
Chair.
5. Graduates future career opportunities
Graduates can work in:
Financial organizations:
· Commercial banks
· Credit institutions
· Investment companies
· FinTech companies
· Insurance companies
· Pension funds
Non-financial organizations:
· Companies such as “Ohanyan Brand Company” LLC, “Sil Capital Construction”
LLC
Public sector institutions:
· Central Bank of Armenia
· Ministry of Finance of Armenia
· Ministry of Economy of Armenia
· State Revenue Committee of Armenia
Financial organizations:
· Commercial banks
· Credit institutions
· Investment companies
· FinTech companies
· Insurance companies
· Pension funds
Non-financial organizations:
· Companies such as “Ohanyan Brand Company” LLC, “Sil Capital Construction”
LLC
Public sector institutions:
· Central Bank of Armenia
· Ministry of Finance of Armenia
· Ministry of Economy of Armenia
· State Revenue Committee of Armenia
6. Resources and forms to support learning
. Print, electronic, and online literature
· Computer labs
· Computer labs
7. Educational standards or programme benchmarks used for programme development
1. National Qualifications Framework of the Republic of Armenia (Government
Decision N 714, July 7, 2016)
2. Sectoral Qualifications Framework in Mathematics, 2022
3. Curricula from leading universities: Moscow State University, London State
University, Cambridge, Manchester, Zurich, Columbia University (Master’s
programmes in Financial Mathematics)
Decision N 714, July 7, 2016)
2. Sectoral Qualifications Framework in Mathematics, 2022
3. Curricula from leading universities: Moscow State University, London State
University, Cambridge, Manchester, Zurich, Columbia University (Master’s
programmes in Financial Mathematics)
8. Requirements for the academic staff
General Competences
Teaching / Pedagogical:
· Ability to develop a course syllabus and schedule
· Knowledge of interactive teaching methods and active learning techniques
Research:
· Ability to work with diverse scientific sources and online resources
· Conduct financial, statistical, and econometric research using mathematical
tools, models, and software
· Lead a research group
Communication:
· Oral communication skills with students
· Ability to write research results clearly
· Foreign language proficiency (minimum B1 in English)
ICT Skills:
· Proficiency in basic software (MS Office: Word, Excel, PowerPoint)
· Ability to use modern social platforms
· Prepare and present presentations (PowerPoint, Prezi, Canva, etc.)
Other Competences:
· Knowledge of professional ethics and legal norms in finance
· Ability to evaluate resources and implement programs effectively
· Time and resource management skills
Professional Competences:
· Conduct financial, statistical, and econometric research using mathematical
tools, models, and programming packages
· Apply financial modeling methods and actuarial modeling methods
· Perform economic analyses and evaluations using mathematical and statistical
methods
· Develop and present investment portfolio management strategies
· Apply quantitative, statistical, and econometric methods for financial analysis,
risk management, and decision-making
General Requirements:
Scientific Degree:
· PhD or equivalent in mathematics, physics, technical, or economics fields, or, in
some cases, a Master’s degree in the relevant or related field
· Publications in scientific/methodological journals
· Participation in conferences and workshops
Teaching Experience:
· Experience teaching professional courses or training
· Participation in local or international professional development courses
Practical Work Experience:
· At least 2 years of work experience in finance or related fields
Other Requirements:
· Teaching portfolio with at least 50% of course materials available online
· Average student evaluation of at least 4.0 for teaching professors
Teaching / Pedagogical:
· Ability to develop a course syllabus and schedule
· Knowledge of interactive teaching methods and active learning techniques
Research:
· Ability to work with diverse scientific sources and online resources
· Conduct financial, statistical, and econometric research using mathematical
tools, models, and software
· Lead a research group
Communication:
· Oral communication skills with students
· Ability to write research results clearly
· Foreign language proficiency (minimum B1 in English)
ICT Skills:
· Proficiency in basic software (MS Office: Word, Excel, PowerPoint)
· Ability to use modern social platforms
· Prepare and present presentations (PowerPoint, Prezi, Canva, etc.)
Other Competences:
· Knowledge of professional ethics and legal norms in finance
· Ability to evaluate resources and implement programs effectively
· Time and resource management skills
Professional Competences:
· Conduct financial, statistical, and econometric research using mathematical
tools, models, and programming packages
· Apply financial modeling methods and actuarial modeling methods
· Perform economic analyses and evaluations using mathematical and statistical
methods
· Develop and present investment portfolio management strategies
· Apply quantitative, statistical, and econometric methods for financial analysis,
risk management, and decision-making
General Requirements:
Scientific Degree:
· PhD or equivalent in mathematics, physics, technical, or economics fields, or, in
some cases, a Master’s degree in the relevant or related field
· Publications in scientific/methodological journals
· Participation in conferences and workshops
Teaching Experience:
· Experience teaching professional courses or training
· Participation in local or international professional development courses
Practical Work Experience:
· At least 2 years of work experience in finance or related fields
Other Requirements:
· Teaching portfolio with at least 50% of course materials available online
· Average student evaluation of at least 4.0 for teaching professors
