Graduate University Programme in Financial and Business Mathematics

Official length of programme

Two-year programme, 120 ECTS credits.

Access requirements

Applicants must have completed an Undergraduate university programme (first cycle) with at least 180 ECTS credits, providing them with relevant mathematical competencies.

Name of qualification

Master of Science in Mathematics

Programme requirements

The Graduate University Programme in Financial and Business Mathematics is the final part of the fundamental university education of specialists in financial and business mathematics. It provides the second cycle of university education for future mathematicians within the 3 + 2 Bologna system. The first cycle of this education is provided by the three-year Undergraduate University Programme in Mathematics or any related undergraduate or graduate programme in which students attain the mathematical competencies required for enrolment in this programme.
The Graduate University Programme in Financial and Business Mathematics, through its course contents as well as its forms and methods of teaching, provides for the acquisition of fundamental knowledge and the understanding of results in the area of financial and actuarial mathematics, probability theory, mathematical statistics, operational research, and optimisation, as well as fundamental knowledge in economics. In addition, through a series of specialised courses, students become acquainted with mathematical methods and models in finance, game theory, decision theory, actuarial science, numerical methods in financial mathematics, monetary economics, financial markets, economics of the public sector, econometrics, etc. In addition to acquiring theoretical knowledge, students in this programme develop the capacity for independent modelling and creative solving of problems from the economic and financial environment. Students are trained in analytic risk management methods, financial asset management, analysis of financial instruments and insurance products, computation of insurance reserves, and optimal decision-making in a deterministic and stochastic environment. In this programme, students also develop their ability to understand mathematical proofs, which itself entails the skill of logical argumentation in general situations. The programme also provides a good basis for their further self-education in both mathematics and economics.

Professional status

Holders of the Master of Science degree in Financial and Business Mathematics are qualified for work in insurance companies (as actuaries), banks, stock exchanges and brokerage firms (risk analysis, securities analysis, asset management), pension and health insurance funds, government offices and agencies, but also in the scientific research and higher education system (universities, polytechnics, research institutes) in entrance-level teaching or research positions (assistant, young researcher and associate).

Access to further study

After completing this graduate university programme, students are qualified for postgraduate (doctoral or specialist) programmes at the Department of Mathematics, in accordance with the enrolment conditions for the academic year in which they apply. The received knowledge and acquired skills also qualify students for continued study in related postgraduate (doctoral or specialist) programmes at other higher education institutions. The conditions of enrolment in postgraduate programmes at other higher education institutions are determined by those institutions.


Financial and Business Mathematics

1. semester, 1. year
ECTS Mandatory courses English level Semester workload Sem INFO
5.0 Introduction to optimization (45790)
Vrdoljak, M.
1,0,0
45
(30L+15E)
1 INFO
2.5 Macroeconomics 1 (45949)
Cota, B.
1,0,0
30
(30L)
1 INFO
5.0 Markov chains (45789)
Basrak, B.; Vondraček, Z.
1,0,0
60
(30L+30E)
1 INFO
5.0 Mathematical statistics (92982)
Huzak, M.
1,0,0
45
(45L)
1 INFO
2.5 Microeconomics 1 (45950)
Vrankić, I.
1,0,0
30
(30L)
1 INFO
2. semester, 1. year
ECTS Mandatory courses English level Semester workload Sem INFO
5.0 Econometrics (45794)
Sandrić, N.
1,0,0
45
(30L+15E)
2 INFO
3.0 Financial markets (45795)
Ivanov, M.
1,0,0
30
(30L)
2 INFO
3.5 Macroeconomics 2 (45951)
Cota, B.
1,0,0
30
(30L)
2 INFO
3.5 Microeconomics 2 (45952)
Vrankić, I.
1,0,0
30
(30L)
2 INFO
5.0 Numerical methods in financial mathematics (45793)
Bosner, N.
1,0,0
45
(30L+15E)
2 INFO
5.0 Stochastic processes (92983)
Vondraček, Z.
1,0,0
45
(45L)
2 INFO
3. semester, 2. year
ECTS Mandatory courses English level Semester workload Sem INFO
5.0 Financial modelling 1 (92987)
Wagner, V.
1,0,0
45
(45L)
3 INFO
5.0 Game theory (213185)
Mrazović, R.
- 45
(45L)
3 INFO
2.5 Monetary economics (61538)
Vujčić, B.
1,0,0
30
(30L)
3 INFO
2.5 Public sector economics (61537)
Ott, K.; Pezer, M.
1,0,0
30
(30L)
3 INFO
5.0 Statistics lab 1 (137224)
Huzak, M.
- 75
(15L+45E+15S)
3 INFO
4. semester, 2. year
ECTS Mandatory courses English level Semester workload Sem INFO
3.0 Asset management (61542)
Brborović, D.
1,0,0
30
(30L)
4 INFO
4.0 Finance lab (92989)
Basrak, B.
1,0,0
75
(15L+45E+15S)
4 INFO
5.0 Financial modelling 2 (92988)
Wagner, V.
1,0,0
45
(45L)
4 INFO
10.0 Master's thesis (61544)
- 1
(1S)
4 INFO
3.0 Mathematical methods in marketing (61543)
Lubura Strunjak, S.
1,0,0
30
(30L)
4 INFO
5.0 Operational research (61541)
Vrdoljak, M.
1,0,0
45
(30L+15E)
4 INFO
1. semester, 1. year
ECTS Mandatory courses English level Semester workload Sem INFO
5.0 Introduction to optimization (45790)
Vrdoljak, M.
1,0,0
45
(30L+15E)
1 INFO
2.5 Macroeconomics 1 (45949)
Cota, B.
1,0,0
30
(30L)
1 INFO
5.0 Markov chains (45789)
Basrak, B.; Vondraček, Z.
1,0,0
60
(30L+30E)
1 INFO
5.0 Mathematical statistics (92982)
Huzak, M.
1,0,0
45
(45L)
1 INFO
2.5 Microeconomics 1 (45950)
Vrankić, I.
1,0,0
30
(30L)
1 INFO
2. semester, 1. year
ECTS Mandatory courses English level Semester workload Sem INFO
5.0 Econometrics (45794)
Sandrić, N.
1,0,0
45
(30L+15E)
2 INFO
3.0 Financial markets (45795)
Ivanov, M.
1,0,0
30
(30L)
2 INFO
3.5 Macroeconomics 2 (45951)
Cota, B.
1,0,0
30
(30L)
2 INFO
3.5 Microeconomics 2 (45952)
Vrankić, I.
1,0,0
30
(30L)
2 INFO
5.0 Numerical methods in financial mathematics (45793)
Bosner, N.
1,0,0
45
(30L+15E)
2 INFO
5.0 Stochastic processes (92983)
Vondraček, Z.
1,0,0
45
(45L)
2 INFO
3. semester, 2. year
ECTS Mandatory courses English level Semester workload Sem INFO
5.0 Financial modelling 1 (92987)
Wagner, V.
1,0,0
45
(45L)
3 INFO
5.0 Game theory (213185)
Mrazović, R.
- 45
(45L)
3 INFO
2.5 Monetary economics (61538)
Vujčić, B.
1,0,0
30
(30L)
3 INFO
2.5 Public sector economics (61537)
Ott, K.; Pezer, M.
1,0,0
30
(30L)
3 INFO
5.0 Statistics lab 1 (137224)
Huzak, M.
- 75
(15L+45E+15S)
3 INFO
4. semester, 2. year
ECTS Mandatory courses English level Semester workload Sem INFO
3.0 Asset management (61542)
Brborović, D.
1,0,0
30
(30L)
4 INFO
4.0 Finance lab (92989)
Basrak, B.
1,0,0
75
(15L+45E+15S)
4 INFO
5.0 Financial modelling 2 (92988)
Wagner, V.
1,0,0
45
(45L)
4 INFO
10.0 Master's thesis (61544)
- 1
(1S)
4 INFO
3.0 Mathematical methods in marketing (61543)
Lubura Strunjak, S.
1,0,0
30
(30L)
4 INFO
5.0 Operational research (61541)
Vrdoljak, M.
1,0,0
45
(30L+15E)
4 INFO

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(***)Course is active in other academic year