Corne Ruwaard_alumnus QFAS

Program and courses Quantitative Finance and Actuarial Science

Use and develop a wide array of advanced mathematical and statistical models for risk measurement and risk management for banks, financial institutions, insurance companies, pension funds and governments. Being fully trained in generic methods for responsible risk management both in finance and in insurance, gives you a competitive advantage on the job market.

Program structure

This one-year program consists of 60 credits (ECTS):

  • 4 core courses (24 ECTS) 
  • 3 elective courses (18 ECTS)
  • Master’s thesis (18 ECTS)

You can start either at the end of August or at the end of January.

Program content

Core courses

You will follow 4 core courses (4 out of 5 -24 ECTS)

Semester 1: End of August – January

  • Empirical Finance (Unit 1)
  • Risk and Regulation
  • Valuation and Risk Management

Semester 2: End of January – June

  • Asset Liability Management (Unit 3)
  • Data Science Methods (Unit 3)
Elective courses

Choose 3 from the following elective courses (18 ECTS)

Semester 1: End of August - January

  • Panel Data Analysis of Microeconomic Decisions
  • The Economics and Finance of Pensions
  • Decision Making under Uncertainty
  • Electives QFAS

Semester 2: End of January – June

  • Dynamic Real Investment
  • Professional Business Analytics Skills
  • Time Series and their Applications
  • Other Electives QFAS

For some electives specific restrictions apply. Please see Course Catalogue for more information.

Optional courses

Optional courses

This program offers optional (skill) courses and workshops:

  • Quantitative Finance Basics (strongly recommended)
  • Career Development
  • Software workshops
Master's thesis

In the second/spring semester (first/fall semester for February entrants) you will write your Master’s thesis. The master thesis may (but need not) be based on an internship.

You will find a detailed description of the courses and required literature in our course catalog.

Go to the course descriptions

Please note: programs are subject to change. We advise you to look up the current program in OSIRIS Student at the start of the year.

Do you want to know more about this Master’s program?

Find out more during one of our events

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Make the most of your Master's

In the first semester of the regular program, ambitious students can apply for the following additional advanced programs:

Extended Master's Program: traineeship (+0.5 years)

Short overview of the Extended Master's Program

During your traineeship, you work on practical assignments for a company, follow professional skills courses, and receive mentoring and guidance. By increasing your professional experience, skills, and network like this, you seriously boost your chances in the job market.

  • If selected, you will fulfill your traineeship from April to October. On average, you will work four days at the company, and attend skills training once a week at Tilburg University. In addition to this, company visits will be organized in the Extended Master's Program network.
  • If both you and the company are happy with the results, you are welcome to extend the traineeship by writing your Master's thesis at the company. Your research topic then needs to be approved by the Tilburg University thesis coordinator.
  • There are no administrative or participation fees for taking part in the Extended Master's Program. You will pay the regular tuition fees for the extra six months the Extended Master's Program takes.

Application and admission

You can apply for the Extended Master's Program once you've started the regular Master's program.

More on the Extended Master's Program

QTEM program: study abroad and traineeship (+1 year)

This Master's program is a proud partner of the prestigious Quantitative Techniques for Economics and Management (QTEM) network.

  • Excellent and ambitious students have the opportunity to extend their one-year Master's program with an additional year.
  • In this additional year, they can spend up to two semesters at different QTEM partner universities, and do an internship abroad at one of the corporate partners. Corporate partners include McKinsey, Bain, Deloitte, and ABInBev.
  • Successful QTEM students are awarded the QTEM Network Certificate.

Application and admission

You can apply for the QTEM program once you've started with the regular Master's program.

More information about the QTEM program

Entrepreneurial Literacy Initiative: online extracurricular program

Entrepreneurial Literacy Initiative (ELI) is an online extracurricular program that provides Master's students with tools to reflect and plan for an entrepreneurial career. Overall, ELI can be a very useful experience if you have entrepreneurship on your mind. —either right after graduation or later in your career! If you are unsure whether entrepreneurship fits you and your goals, ELI will help you find out.

Application and admission

All students enrolled in a Master's program at TiSEM are invited to apply.

More information about the Entrepreneurial Literacy Initiative

Short overview of the Quantitative Finance and Actuarial Science

Use a wide array of sophisticated mathematical and statistical models for various business tasks. Applications concern risk management, empirical finance, insurance, pensions and aging, and capital investment.

  • Gain knowledge in both finance and insurance to understand the interplay between financial markets and insurance markets, giving you a competitive advantage on the job market.
  • Customize your program with many electives.

Interested in the MSc Quantitative Finance and Actuarial Science?

Check your eligibility and the deadlines for application