Summary of Degree Programme
38.04.08 Finance and Credit
Full-time, 120 ECTS
Instruction in English
The Master’s programme (38.04.08) in Finance (MiF) provides training for both professionals in financial management, and for scholarly researchers in the area of finance.
The programme focuses on creating and developing competencies in financial management for financial institutions and non-financial companies.The main emphasis is on contemporary theory and modern practices in corporate finance. At the same time, the programme provides fundamental knowledge in the broad area of finance that ensures our graduates are prepared for a diversity of career pathways, including in, the real sector of the economy, banks, investment funds, consulting companies, insurance companies and elsewhere. The focus on research-based teaching, delivered through a combination of student research projects, internship opportunities, dissertation work and taught courses also equips students for entry into an academic career via a PhD programme.
The programme is designed to serve different types of students. For graduates in Economics or Finance, the programme is an ideal opportunity to continue and deepen their studies, but it is also suitable for strong students with a previous background in other subject disciplines. We incorporate ‘adaptation’ modules that are designed specifically for helping the transition from other disciplines into the finance sphere.
The programme has been thoughtfully designed through a process of collaborative work between researchers and practitioners in the area of Finance and has involved international benchmarking, incorporation of best practice and understanding how best to exploit the local comparative advantages. It complies with the Law of the Russian Federation on Education and, through this, a set of educational and professional standards, regulations and other approved documents of the federal and institutional levels. It is also aligned to international standards and requirements, including the European Qualifications Framework (EQF).
The programme has EPAS accreditation (2019) and Professional and Society Accreditation (2018).
Areas of professional activity in which graduates Master in Finance programme can carry out professional activities:
- Education and science,
- Finance and economics (in the field of economic, financial, marketing and analytical activities, as well as by type of professional activity:
- Ensuring microfinance operations;
- The provision of services in the securities market and derivative financial instruments;
- Brokerage activity in the field of insurance (reinsurance);
- Financial advice;
- Provision of factoring services;
- Internal audit;
- Granting to legal entities and (or) individuals long-term loans secured by real estate;
- Operations in the interbank market;
- Granting loans to legal entities and individual entrepreneurs;
- Risk management (risk management) of the organization;
- Consumer loans;
- Audit Activities;
- Activities to determine the value (price), the assessment of objects of civil rights, obligations, losses,
- Remote banking services,
- Investment activities for the acquisition of property and leasing).
- Ensuring microfinance operations;
Graduates can carry out professional activities in other areas, provided that their level of education and acquired competencies meet the requirements for employee qualifications.
Graduates Master in Finance programme are prepared for the solution of the professional tasks of the following types:
- organization and conduct of scientific research, including statistical surveys and surveys;
- development of theoretical and econometric models of the studied processes, phenomena and objects related to the field of professional activity, assessment and interpretation of the results;
- presentation of the results of the study;
- preparation of academic publications;
- preparation of examinations and comments on the submitted research, opposition to the discussion of scientific results;
- design and economic:
- preparation of tasks and development of design solutions in the field of economics and finance;
- development of methodological and regulatory documents for the implementation of projects and programs;
- development of a system of socio-economic indicators of economic entities;
- compilation of economic and financial sections of the plans of enterprises and organizations of various forms of ownership;
- development of financial policies, risk management policies of companies and other economic agents;
- organization of the implementation of development strategies, financial and risk management policies of companies and their individual divisions;
- management of financial and economic services and units of enterprises and organizations of various forms of ownership, state and municipal authorities;
- development of forecasts for the development of the financial market;
- assessment of the effectiveness of projects taking into account the uncertainty factor;
- analysis of company strategies and assessment of their effectiveness;
- compilation of reports and development of forward-looking statements of companies of different industry sectors and other organizations;
- analysis of existing forms of management organization; development and justification of proposals for their improvement;
- prediction of the dynamics of the main socio-economic and financial indicators of the enterprise, industry, region and economy as a whole;
- scientific and teaching:
- the teaching of financial disciplines in institutions of higher and secondary education, continuing education;
- development of teaching materials.
As a result of mastering the master’s programme, the graduate must have formed professional competencies established in accordance with the selected types of professional tasks.
PC-1 Able to conduct independent research in accordance with the developed program, make original proposals in the areas and methods of research, justify their own contribution to the development of the chosen research area
PC-2 Able to present the results of the study to the scientific community in the form of a report (presentation) and article
PC-3 Able to analyze and predict trends, processes and instruments of the financial market
PС-4 Able to analyze the financial condition of companies and financial institutions
PC-5 Able to assess the value of financial instruments
PС-6 Able to justify the effectiveness of the investment policy of the company and financial institution
PС-7 Able to draw up analytical justifications for making managerial decisions in companies, financial institutions and developing their financial policies
PС-8 Able to develop recommendations on investing personal financial resources
PС-9 Able to implement the financial policies of companies and financial institutions
PC-10 Able to apply modern methods and techniques of teaching financial disciplines in educational institutions of higher education
PС-11 Able to develop curricula, programs and appropriate methodological support for teaching financial disciplines in educational institutions of higher education.
According to the Russian educational standards, the programme includes 6 mandatory courses and 8 electives. To smooth the academic progress for students who never studied Finance previously, the programme proposes optional adaptation courses, which do not have an ECTS score. Research is a compulsory part of the study process. Research seminar goes weekly; at the 1st year students perform a term paper; internship and master’s dissertation are the research activities for the 2nd year.
The duration of the Programme is 2 years (4 semesters), which corresponds Russian Legislation; each semester consists of 60 ECTS and divided into 2 quarters. Each quarter is completed with a mid-term control. The study load is usually around 20 contact hours per week at the 1st year and 16 hours at the 2nd year, including the Research seminar.
On a 2 year of study students have science-researhc internship. The goal of the scientific research internship is further systematizing and extending of the theoretical and practical knowledge gained in the University in economic subjects, practical application of economic knowledge in order to solve the tasks of professional occupation.
During whole period of study students have Research Seminar. Research seminar for the 1st year Masters in Finance is aimed at the development of students’ research abilities in the broad area of finance, as at the development of academic writing and presentation skills. The objective of the Research Seminar for the 2nd year is to help students prepare to write their master’s thesis.
This degree programme 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 programme are listed in each subject's full syllabus and are available to students through the online Learning Management System.
All documents of the degree programme 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 programme. Up-to-date teaching and learning guides, assessment tools, and other relevant documents are stored on the website of the degree programme in accordance with the local regulatory acts of HSE University.
I hereby confirm that the degree programme documents posted on this website are fully up-to-date.
Vice Rector Sergey Yu. Roshchin