Target level of study
Master's degree
ECTS
120 credits
Duration
2 years
Training structure
Faculty of Economics
Language(s) of instruction
French
Presentation
The Master's in Money, Banking, Finance, and Insurance comprises five tracks:
- Market Risk Analysis Course
- Course Banking Risk Analysis
- Actuarial Science Program
- Financial Engineering Program
- Economic and Financial Information System Course
The advantages of the training program
- Since 2019, the Faculty of Economics has had a trading room that implements innovative teaching practices in real-life trading situations and financial data and information analysis.
- It is the only master's degree in the Hérault department and in the region that offers students a real opportunity to pursue a career in financial engineering. It should be noted that this will be one of the few financial engineering programs offered by a faculty of economics in France.
Objectives
The Market Risk Analysis course provides students witha thorough understanding of the structure and functioning of the most common financial products (stocks, bonds, etc.) as well as speculative markets (energy, commodities, basic products, etc.).
The Banking Risk Analysis program allows students to acquire skills in banking risk modeling tools and the banking environment. A good knowledge of banking operations and products is required.
The Actuarial Science program allows students to acquire skills in actuarial methods and tools and to apply them in a professional setting. It provides the theoretical and methodological knowledge necessary to pursue a career as an actuary and to prepare future researchers in this field.
The Financial Engineering program enables students to acquire advanced financial engineering techniques, techniques that enable them to integrate the global dimension of the problems to be addressed and their strategic challenges, and which are open to the international environment.
The Information Systems program allows students to acquire skills in computer science, information systems modeling, and economic and financial data mining.
Know-how and skills
This statement allows you to:
- Provide students with the skills necessary to work as risk analysts (analyzing different types of risk) so that they can propose personalized solutions in the field of risk management (assessing the risks of complex products, constructing structured products or complex portfolios, etc.) and actuarial science.
- Provide students with the skills necessary to conduct research within public organizations and to understand regulations and financial and banking operations, to detect, assess, and model risks, and to evaluate financial products.
- Master financial modeling tools as well as financial econometrics, banking, and financial engineering techniques that enable you to apply for jobs as a market operator, portfolio manager, financial risk analyst, back office staff, or actuary analyst.
- Acquire sufficient knowledge to apply for doctoral contracts and/or enroll in a doctoral program
- Possess computer skills and know how to model and use computer tools, software, or software packages commonly used in the markets.
Organization
Special facilities
Study and exam accommodations are available for students with recognized disabilities and/or high-level athletes.
Program
The Master's program is organized into two years: Master 1 and Master 2.
Select a program
Actuarial science
Actuarial Science is a course of study within the Money, Banking, Finance, and Insurance program.
This program provides students with the theoretical and methodological knowledge necessary to pursue a career as an actuary and prepares future researchers in this field.
- What is an actuary?
Professional specializing in the application of probability theory and statistics to insurance, finance, and social security issues.
To do this, they analyze the financial impact of the risk and estimate the associated future cash flows. Actuaries use mathematical techniques, mainly derived from probability theory and statistics, to describe and predict certain future events, such as human life expectancy, the frequency of claims, or the extent of associated financial losses.
Theoretical econometrics
5 creditsMarket finance
4 creditsMonetary and financial macroeconomics
3 creditsForecasting methods
5 creditsAlgorithms and Programming
3 creditsData mining and big data
Data warehouse
Language selection list
Choose one of two options:
English for Finance 1
2 creditsSpanish 1
Economics of Bancassurance
3 credits
Introduction to Stochastic Calculus
4 creditsCorporate finance
4 creditsIntroduction to SAS
2 creditsActuarial models in Excel VBA
3 creditsTime series econometrics
5 creditsTechnical analysis
2 creditsApplied econometrics project
5 creditsActuarial techniques
3 creditsChoose one of two options:
English for Finance 2
2 creditsSpanish 2
2 credits
Optional
Financial markets and financial theory
2 creditsProfessional development conferences
Trading algorithm
1 creditPortfolio management under R
1 creditNon-Life Actuarial Science
3 creditsFinancial analysis (Bank of France)
1 creditIntroduction to Artificial Intelligence in Python
0.5 creditsPrimary stock market: initial public offering
0.5 creditsStochastic calculus
2 creditsFinancial English
1 creditEnterprise risk management
1 creditExploratory statistics (SAS)
1 creditComputer techniques (VBA)
1 creditModeling emerging risks
2.5 creditsLife Actuarial Science
2.5 creditsCybersecurity and cryptography
1 creditEconometrics applied to finance
2 creditsFinancial market econometrics
2 creditsFinancial big data
1 creditFinTechs, Blockchain, and Cryptocurrencies
1 creditNumerical methods in actuarial science "VBA"
2 creditsBanking and insurance regulations
1 credit
Banking risk analysis
This program trains banking finance professionals and researchers in this field.
He offers modern programming practices combined with statistical methods applied to large financial databases, with the ultimate goal of managing banking risks.
This course constantly takes into account developments in the banking sector, particularly changes in the field of banking risk analysis. In recent years, banking professions have undergone profound changes. These changes in banking professions and the globalization of operations have given rise to new risks. International operations now account for a growing share of credit institutions' on-balance-sheet and off-balance-sheet activities, while market interventions are becoming more diverse and complex. These developments have given rise to new types of risk and altered the factors of financial fragility that can affect the quality of the situation of banking players. As a corollary, banking supervisory authorities have imposed prudential rules to prevent banks from failing. These rules are part of preventive action programs aimed at promoting the stability of domestic banking systems.
This new training program enables participants to integrate the regulatory constraints of Basel III into the measurement of banking risks such as liquidity risk, asset and liability management (ALM), etc.
The aim is to equip students with three types of skills: expertise in quantitative methods (econometrics, analysis of large databases, etc.), risk analysis (particularly banking risk) and banking regulation, and proficiency in IT tools (SAS, R, VBA, Python, etc.). The quantitative courses in this master's program are held in the MUSE Trading Room.
These skills provide students with powerful tools for measuring the risks faced by financial institutions, enabling them to join risk control departments.
Strong ties have been established over many years with regional and national professionals, such as the Regional Director of the Ecole Supérieure and the Regional Delegate of the French Banking Federation. Many professionals contribute to the Master's 2 program, either through lectures or through the EU's professionalization conferences. These professionals share their professional experiences and explain the careers that are open to students upon completion of the Master's program. Internships are often obtained as a result of these presentations.
Conferences on Big Data, Artificial Intelligence (Python programming), etc. are organized by Data Scientist specialists.
Students thus benefit from excellent professional training based on solid theoretical knowledge and professional application by recognized experts in the field through supervised projects or professional conferences . This enables the vast majority of graduates to find employment within six months of completing their Master's degree. The employment rate is over 77%.
Choose one of two options:
English for Finance 1
2 creditsSpanish 1
Theoretical econometrics
5 creditsMarket finance
4 creditsMonetary and financial macroeconomics
3 creditsForecasting methods
5 creditsAlgorithms and Programming
3 creditsData mining and big data
Data warehouse
Economics of Bancassurance
3 credits
Optional
Choose one of two options:
English for Finance 2
2 creditsSpanish 2
2 credits
Introduction to Stochastic Calculus
4 creditsCorporate finance
4 creditsIntroduction to SAS
2 creditsBanking techniques
3 creditsTime series econometrics
5 creditsTechnical analysis
2 creditsApplied econometrics project
5 creditsFinancial Mathematics in Excel VBA
3 credits
Professional development conferences
Financial markets and financial theory
2 creditsNumerical methods in banking "VBA"
2 creditsTrading algorithm
1 creditPortfolio management under R
1 creditFinancial analysis (Bank of France)
1 creditPrimary stock market: initial public offering
0.5 creditsStochastic calculus
2 creditsOperational and compliance risks
2 creditsFinancial English
1 creditIntroduction to Artificial Intelligence in Python
Exploratory statistics (SAS)
1 creditComputer techniques (VBA)
1 creditFinancial big data
1 creditCredit risk
2 creditsCybersecurity and cryptography
1 creditEconometrics applied to finance
2 creditsFinancial market econometrics
2 creditsAsset-liability management (ALM)
2 creditsInterest rate risks
2 creditsFinTechs, Blockchain, and Cryptocurrencies
1 creditNumerical methods in actuarial science "VBA"
2 creditsProgramming in R
Banking and insurance regulations
1 credit
Market risk analysis
This program trains professionals for careers in financial markets and researchers specializing in this field. It offers specialized instruction in theoretical and quantitative areas related to products traded on financial markets. In particular, it addresses the determination of risk management through the combination of statistical methods.
This course builds on what has been done up to the 2020-2021 academic year, with developments that allow for the integration of changes in the risk analyst profession. In particular, it involves integrating the regulatory constraints of Basel III into market risk measurement (calculation of Value at Risk (VaR) and Expected Shortfall (ES), and their validation (backtesting). The aim is to equip students with effective tools for measuring and hedging the risks faced by financial institutions (banks and insurance companies). With the skills acquired at the end of their training in market risk analysis, students will be able to join risk control departments.
Choose one of two options:
English for Finance 1
2 creditsSpanish 1
Theoretical econometrics
5 creditsMarket finance
4 creditsMonetary and financial macroeconomics
3 creditsForecasting methods
5 creditsAlgorithms and Programming
3 creditsData mining and big data
Data warehouse
Economics of Bancassurance
3 credits
Introduction to Stochastic Calculus
4 creditsAsset valuation
3 creditsCorporate finance
4 creditsIntroduction to SAS
2 creditsPortfolio allocation
3 creditsTime series econometrics
5 creditsTechnical analysis
2 creditsApplied econometrics project
5 creditsOptional
Choose one of two options:
English for Finance 2
2 creditsSpanish 2
2 credits
Numerical methods
3 creditsFinancial markets and financial theory
2 creditsProgramming in VBA
1 creditStochastic calculus
2 creditsPortfolio management
4 creditsFinancial English
1 creditTrading algorithms
2 creditsData mining and big data
3 creditsExploratory statistics (SAS)
1 creditComputer techniques (VBA)
1 creditMarket risks
4 creditsFinancial econometrics
2 creditsProgramming in R, Python
1 credit
Economic and financial information system
This program offers in-depth instruction in economics and econometrics.
It also enables students to acquire skills in information systems modeling and economic and financial data mining.
Choose one of two options:
English for Finance 1
2 creditsSpanish 1
Theoretical econometrics
5 creditsMarket finance
4 creditsMonetary and financial macroeconomics
3 creditsForecasting methods
5 creditsAlgorithms and Programming
3 creditsData mining and big data
Data warehouse
Economics of Bancassurance
3 credits
Design of an IS (information system)
3 creditsDatabase manipulation
2 creditsProgramming techniques
2 creditsData mining and big data
3 creditsSurvey
2 creditsComputer Law (Polytech)
2 creditsData warehouse
3 creditsModeling an IS (information system)
3 creditsExploratory statistics (SAS)
1 creditComputer techniques (VBA)
1 creditData visualization design
2 creditsEconometrics
3 creditsSafety
3 credits
Optional
Choose one of two options:
English for Finance 2
2 creditsSpanish 2
2 credits
Introduction to Stochastic Calculus
4 creditsCorporate finance
4 creditsIntroduction to SAS
2 creditsProgramming in VBA
3 creditsEconometrics of qualitative variables
3 creditsTime series econometrics
5 creditsTechnical analysis
2 creditsApplied econometrics project
5 credits
Choice of internship or thesis
30 creditsChoose one of two options:
M2 SIF internship
30 creditsResearch thesis as part of a research program
30 credits
Introductory seminars on research
Financial Engineering
This program trains professionals in the field of financial engineering and researchers specializing in this area.
Choose one of two options:
English for Finance 1
2 creditsSpanish 1
Theoretical econometrics
5 creditsMarket finance
4 creditsMonetary and financial macroeconomics
3 creditsForecasting methods
5 creditsAlgorithms and Programming
3 creditsData mining and big data
Data warehouse
Economics of Bancassurance
3 credits
Choose one of two options:
English for Finance 2
2 creditsSpanish 2
2 credits
Introduction to Stochastic Calculus
4 creditsCorporate finance
4 creditsIntroduction to SAS
2 creditsProject financing in Excel VBA
3 creditsTime series econometrics
5 creditsCorporate taxation
3 creditsTechnical analysis
2 creditsApplied econometrics project
5 creditsOptional
Mergers-Spin-offs-LBOs-Bankruptcies-Restructuring
2 creditsQuantitative risk management
2 creditsFinancial markets and financial theory
2 creditsInvestment science
3 creditsPortfolio management under R
1 creditInnovative financing operations
1 creditFinancial analysis (Bank of France)
1 creditAdvanced financial management "case studies"
2 creditsStochastic calculus
2 creditsTax optimization "Case studies"
2 creditsAudit and control "case study"
1 creditFinancial English
1 creditExploratory statistics (SAS)
1 creditComputer techniques (VBA)
1 creditInternational accounting (GAAP or IFRS)
2 creditsProject management and assembly
1 creditPanel econometrics
2 creditsFinTechs, Blockchain, and Cryptocurrencies
1 creditBanking and insurance regulations
1 creditCorporate strategy and governance
1 credit
Admission
Admission requirements
Target audience
And after
Professional integration
Students in this program prepare for a wide range of careers in banking, finance, insurance, financial engineering, data processing (data analyst), and information systems design.