Summary of Degree Program
38.04.08 Finance and Credit
No
2 года 
Full-time, 120
ENG
Instruction in English
Master
Yes
With online tools
2024/2025 Academic year
Financial Analyst
2023/2024 Academic year
Financial Analyst
-Tuition is in English, which is the language of International Finance
- Courses of specialization are taught by the professors, practicing in field, most of them are CFA Charterholders;
- Ability to study online on the own schedule from anywhere in the world
-Practice-oriented educational program, the curriculum of which is being revised annually to meet changing industry demands and employer requests from the most renowned organizations throughout the world
- Course instructors are practitioners and leading specialists in the field who hold top positions in Russia's and international largest enterprises, including the Bank of Russia, PJSC Sberbank, VTB Bank, Alfa Bank JSC, Otkrytie Bank PJSC, ATON LLC, and Gazprombank JSC
- The opportunity to work closely with industry experts throughout the internship, which may provide you with hands-on experience as well as the option for ongoing employment and advancement within your career in finance
-Participation in annual student competition in financial analysis - CFA Institute Research Challenge.
“Financial Analyst” Master program graduates may act as professionals in the following areas:
01 Education and science (in professional education and continuing professional education),
08 Finance and economics (in economic, financial, marketing and analytical fields, as well as in the following professional fields: 08.003 Microfinance operations; 08.004 Providing services at stock and derivatives markets; 08.005 Brokering in insurance (re-insurance); 08.008 Financial consulting; 08.009 Factoring services; 08.010 Internal audit; 08.011 Providing long-term credits and mortgage to legal entities and individuals; 08.013 Operations at interbank market; 08.015 Loans to companies and individuals; 08.018 Company risk-management; 08.019 Consumer loans; 08.023 Audit, PL evaluation, 08.033 Distance banking services, 08.034 Investment activity of property purchase and leasing.
Graduates may act as professionals in other fields in case their level of education and gained competences can meet employer qualification requirements.
All universal, general and professional competences, set by the “Financial Analyst” master program, provide the graduates with opportunity to fulfill professional activity in not less than one professional field:
| Competence Code | Competence |
| Competence type: General Professional Competences | |
| GPC-1 | Ability to solve practical and (or) research tasks in the field of financial relations, based on fundamental economic science |
| GPC-2 | Ability to apply advanced instrumental methods of economic and financial analysis in the applied and (or) fundamental research in the field of financial relations, e.g., using intellectual information and analytical systems |
| GPC-3 | Ability to summarize and critically evaluate the outcomes of scientific research; carry out independent research projects in the field of finance and related areas |
| GPC-4 | Ability to explain and make financial, economic, organizational and managerial decisions in one's professional activities |
| Competence type: Universal Competences | |
| UC-1 | Ability to undertake a critical analysis of problems based on a systematic approach, as well as develop a strategy of relevant actions |
| UC-2 | Ability to engage in project management throughout the entire lifecycle of a project |
| UC-3 | Ability to organize and manage teamwork, develop team strategies to achieve the goal |
| UC-4 | Ability to use modern communication technologies, e.g., in foreign languages, for academic and professional liaisons. Ability to analyze and take into account the diversity of cultures in the course of cross-cultural interactions |
| UC-5 | Ability to analyze and take into account the diversity of cultures for cross-cultural communications |
| UC-6 | Ability to set and implement one's own work priorities, choose ways for improving one's performance using self-assessment tools |
| Competence type: Professional Competences | |
| PC-1 | Ability to engage in independent research as per research programme, make original proposals with respect to fields and methods of research, justify one's own contribution into the development of the chosen areas of research |
| PC-2 | Ability to analyze and forecast trends, processes and financial market instruments |
| PC-3 | Ability to propose personal investment recommendations |
| PC-4 | Ability to implement the corporate financial policy of companies and financial institutions |
| PC-5 | Ability to draw up analytical materials for making managerial decisions in companies and financial institutions, as well as develop corporate financial policies |
| Key Learning Outcomes | |
| KLO-1 | Manage company's finances using high standards of professional ethics set forth by the CFA syllabus |
| KLO-2 | Manage financial risks using mathematical modeling, the best practices of large companies and the Basel Accords |
| KLO-3 | Manage the client's portfolio using different risk/reward ratios |
| KLO-4 | Create an investment project that takes into account both economic, financial and social indicators |
| KLO-5 | Engage in the ESG strategy implementation based on green finance principles |
This is a MA Program on Finance and besides the HSE MA standard on finance programs (M1) It should fit at list at 75% the Body of Knowledge of the CFA institute. The Body of knowledge is Designed on the bases of annual surveys doing by CFA Institute concerning the competences the employers need.
The program starts from Foundation(M1) based on Macroeconomics, Theory of Finance, Quantitative Methods in Finance. These courses provide the basic understanding of financial markets and giving the tools for quantitative analysis of financial and microeconomics data.
The part of the core disciplines (M2) are compulsory courses which are needed for the Financial Analysts. It starts with Financial Statement Analyses, the course providing the accounting including international standards, understanding of the financial ratios and its interpretation. This course together with Quantitative Methods in Economics provides a solid basement for the Corporate Issuers, which deals with finance of the company, relations with shareholders, taxation, profit distribution and compensation policy.
For funds rising could be used the company profit or outside funding. These issues are solved in the course on Equity and Fixed income.
The courses on Portfolio Management and Derivatives are teaching how to make one’s investment effective, to hedge risks and avoid losses.
Eventually, the financial analysts are dealing with customers. That is why they must be honest, qualified and fit the professional standards. This is the content and the goal of the course on Ethical and Professional Standards.
Current economic theory is based on Monetarism which is covered by the course on Monetary Economics.
The program provides a wide range of elective courses (M3) for the first and second year. All together student may choose 6 of them. These courses deal with special type of data analysis (like ratings) or special types of financial markets (like alternative investment).
During the first and second year of study the students have the research seminar, which major goals are:
- how to work in the library
- how to make research
- how to make scientific dispute
- how to make a presentations
- how to write course a paper and final thesis
At the end of their study students must write the Final Thesis (M4) where they should demonstrate their ability to analyze data and business processes and literature on the subject of the dissertation, publicly defend their research and make a presentation reflecting their paper.
Before writing the Final Thesis, students must do their internship. The main goal of the internship is to make field studies, collect the data, understand the business processes in different organizations.
This degree program of HSE University is adapted for students with special educational needs (SEN) and disabilities. Special assistive technology and teaching aids are used for collective and individual learning of students with SEN and disabilities. The specific adaptive features of the program are listed in each subject's full syllabus and are available to students through the online Learning Management System.
All documents of the degree program are stored electronically on this website. Curricula, calendar plans, and syllabi are developed and approved electronically in corporate information systems. Their current versions are automatically published on the website of the degree program. Up-to-date teaching and learning guides, assessment tools, and other relevant documents are stored on the website of the degree program in accordance with the local regulatory acts of HSE University.
I hereby confirm that the degree program documents posted on this website are fully up-to-date.
Vice Rector Sergey Yu. Roshchin