ECTS
120 credits
Duration
2 years
Training structure
Faculty of Economics
Language(s) of instruction
French
Presentation
The Market Risk Analysis program aims to train both professionals and researchers specializing in finance, with a particular focus on products traded on financial markets such as stocks, bonds, derivatives, currencies, and commodities. The program combines solid theoretical instruction with an in-depth quantitative approach, enabling students to understand how markets work and how financial instruments are valued.
Students acquire skills in financial risk management and measurement through the use of advanced statistical methods, such as volatility analysis, Value at Risk (VaR), Expected Shortfall (ES), and backtesting of risk models. They also learn how to assess portfolio exposure, identify major risk factors, and implement effective hedging strategies.

The advantages of the training program
- NATIONALLY RECOGNIZED TRAINING
- ADVANCED QUANTITATIVE SPECIALIZATION
- EXCELLENT PROFESSIONAL INTEGRATION
Objectives
- Further your education in financial economics and economics.
- Acquire a 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.).
- Acquire technical training based on the handling of large financial databases at multiple frequencies, combined with the most powerful computer software.
- Become familiar with the latest techniques used in stock market-related professions.
Know-how and skills
Know-how
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Measuring and analyzing financial risks in the markets
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Use advanced statistical methods (VaR, Expected Shortfall, backtesting)
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Assessing the exposure and performance of financial portfolios
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Identify major risk factors
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Implement strategies to hedge and protect portfolios
Skills
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Proficiency in quantitative and statistical tools applied to finance
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Ability to anticipate and manage market risks
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In-depth understanding of financial mechanisms and traded products
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Ability to apply risk models that comply with regulatory standards
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Ability to make informed decisions for strategic risk management
International dimension
Starting in their second year, students can spend a year (two semesters) at one of the 60 universities with which the Faculty of Economics has partnerships through the ERASMUS+ exchange programs, inter-university agreements, and CHARM-EU.
Organization
Knowledge assessment
The Master's programs at the Faculty of Economics are structured over two years and four semesters, based on an assessment system designed to measure students' learning progressively and comprehensively. At the end of each semester, the skills, competencies, and knowledge acquired in each teaching unit (UE) are assessed in one of two ways: continuous assessment or a final exam.
Continuous assessment allows for regular monitoring of student progress through several forms of evaluation: supervised assignments, graded tutorials, presentations, projects, document analysis, and active participation in class. This method encourages attendance, regular work, and the gradual acquisition of skills.
The final exam consists of a written or oral test held at the end of the semester. It aims to assess students' overall mastery of the concepts taught and their ability to apply their knowledge in a structured and in-depth manner. Depending on the course units, teaching methods, or learning objectives, some units may combine both methods. These methods ensure fair, diverse assessment that is tailored to the nature of the course.
Special facilities
Students with disabilities, young entrepreneurs, and high-level athletes can benefit from personalized support.
This may take the form of study arrangements, educational adaptations, or specific rights, in order to enable them to best balance their personal or professional constraints with their university education. Depending on the situation, these measures may include an adapted schedule, adjusted assessment methods, attendance facilities, individualized monitoring, or dedicated support services.
Internships, supervised projects
Internship | Possible |
|---|---|
Duration of the internship | Maximum 924 hours, or 6 months |
Internship abroad | Possible |
A true immersion in the professional world, it allows students to apply the knowledge they have acquired in class, discover how organizations work, and compare theory with practice. To get the most out of it, serious preparation is essential: learning about the host organization, defining your objectives, mobilizing your skills, and preparing for professional demands.
All Master's programs offer the possibility of doing an internship.
In Master 1, internships are possible and optional. They must be related to the program.
The internship may begin at the end of the second semester exams or be completed during university vacation periods. In all cases, it must end no later than August 31, regardless of whether the student is enrolled in a Bachelor's degree, Master's degree, or University Diploma program.
In Master 2, the internship is mandatory.
The start date is set in agreement with the academic supervisor, generally between February and March, in order to fit in with the training schedule and the requirements of the final thesis. Regardless of the period chosen, the internship mustend no later than September 30.
Program
The program lasts two years, or four semesters.
120 ECTS
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 / Excel VBA
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
5 creditsProgramming in R, Python
1 credit
OPTION 1
30 creditsChoose 1 or 2 from 2
Research thesis as part of a research program
30 credits3- to 6-month internship
30 credits
Professional speakers
Introductory seminars on research
Admission
Admission requirements
- For Master's 1: Holder of or currently pursuinga bachelor's degree (or equivalent, three years of higher education) in economics or a similar field, recognized in France or Europe.
- For the Master 2: Have completed at least 4 years of higher education (Bac +4 / 240 ECTS) in fields related to economics or similar. A strong academic record and, in some cases, professional experience are valued.
Registration procedures
First year of master's degree
If you wish to apply for admission to Master 1, you must submit your application on the Mon Master platform .
Second year of master's degree
To gain equivalent access to the second year of the master's program, the ecandidat procedure is mandatory.
Further information: economie.edu.umontpellier.fr/candidatures/candidatures-et-admissions/
Target audience
Students from the Montpellier Academy, the Occitanie region, France, and internationally
Tuition fees
Tuition fees are set each year by the Ministry of Higher Education. They are accompanied by the Student and Campus Life Contribution (CVEC).
The entire program is free for students receiving scholarships.
Capacity
Recommended prerequisites
A good level inmicroeconomics, macroeconomics, mathematics, statistics, and econometrics is essential. Depending on the desired career path, certain options may be valued.
And after
Continuing education
Master's degree graduates can continue their studies, particularlyin economics, in France or abroad, especially those who are interested in research or higher education. Additional specialized training (university degrees) may also be considered depending on career plans.
Professional integration
This master's degree is professionally oriented and leads to employment. Further study at the doctoral level is possible, subject to the quality of the applied research thesis.
This program is designed to trainhigh-level executives pursuingcareersin banking, private equity, auditing and consulting firms, and large corporations.
Graduates of the Market Risk Analysis program often secure permanent contracts at the end of their internships in risk management departments in banking, insurance, or asset management companies. Some students even move abroad (to London, Hong Kong, Tokyo, or New York) on employment contracts offering significant responsibilities and salaries.
Some students prefer to pursue research as part of their doctoral thesis.
https://osipe.edu.umontpellier.fr/masters/