Study economics and finance in Poland university of warsaw

PROSPECTUS

Study in Warsaw (Poland)

Competitive costs of living According to the QS Best Student Cities 2016 Warsaw is the 2nd best place in the world for international students in terms of affordability.

Easy travel around Europe It will take you only 2 hours to get to Paris or London by plane.

Sustainable growth Poland is a member of the European Union and one of the few countries which maintained a growing GPD during the economic crisis in 2007-2009.

Vibrant and exciting The city is constantly changing combining Western amenities and Eastern prices on the one hand, and Western sophistication and Eastern hospitality on the other.

Quality Poland meets all european higher education standards.

Warsaw city centre

In the heart of Europe Poland, as one of the members of the European Union, serves as the geographical and cultural crossroads of Eastern and Western Europe. It has been a place for the exchange of goods since its foundation more than 1000 years ago. Poland is considered one of the most successful examples of the transition from communism to a market economy.

Poland is a member of NATO, the European Union, the United Nations, the World Trade Organization, the Organization for Economic ­Co-operation and Development (OECD), the European Economic Area, the Council of Europe, the Organization for Security and Co-operation in Europe, etc.

36th

Poland has a very high Human Development Index (HDI; 0,843; 36th in the world).

8

th

largest country in Europe

38 mln population in Poland

In the heart of Poland Warsaw is the capital and the largest city of Poland.

With 2.6 million metropolitan residents, it is the 9th most populous capital city in the European Union.

It is located in the proximity of the Vistula River in east-central Poland, roughly 260 kilometres from the Baltic Sea and 300 kilometres from the Carpathian Mountains.

Folk etymology attributes the name of the city to a fisherman known as Wars and to his wife, Sawa. According to the legend, Sawa was a mermaid living in the Vistula River with whom Wars fell in love. She also managed to defend the city against invaders.

The first historical reference to Warsaw dates back to the year 1313. The city gained the title of the "Phoenix City", as it has survived many wars, conflicts and invasions throughout its long history, particularly in year 1945, after the bombings and uprisings which led to Warsaw being destroyed almost in its entirety.

Famous Poles • Nicolaus Copernicus, famous 16th century astronomer who created the heliocentric model of the universe.

• Ernest Malinowski, 19th century engineer who built the world’s highest railroad in Peru.

• Frédéric Chopin, 19th century piano player and composer.

• Ignacy Lukasiewicz, 19th century entrepreneur who invented the kerosene lamp and built the 1st oil refinery in the world.

• Joseph Conrad (Teodor Józef Konrad Nałęcz-Korzeniowski), British novelist.

• Bronisław Malinowski, creator of modern anthropology.

• Maria Skłodowska-Curie, first women to be awarded a Nobel Prize (received two: in chemistry and in physics).

• John Paul II (Karol Wojtyla) – Pope.

• Lech Wałęsa, Nobel Peace Prize awardee (for the campaign for freedom in Poland during communist domination).

• Czesław Miłosz, Wisława Szymborska, Nobel Prize in Literature awardees.

• Roman Polański, Paweł Pawlikowski, and Andrzej Wajda, Oscar award winners.

Nature

1/4 of the city area includes parks and gardens. Moreover, Warsaw is located in the centre of Poland, therefore it is easy to go to the mountains or to the seaside, or for a short excursion to the forests during the weekend.

Stimulating

There are several cultural activities, clubs and events, to attend after classes. Many students also enjoy visiting the POLIN Museum of the History of Polish Jews, the Copernicus Science Centre, the Warsaw Uprising Museum, the Life under Communism Museum or the National Art Gallery, symphony orchestra concert hall, music and dramatic theatres.

Interesting facts about Poland • Weather: Summers are usually warm and sunny, winters are cloudy and snowy.

• The highest mountain in Australia bears the name of a Polish 18th century general, Tadeusz Kościuszko, who also fought in the American Revolutionary War. • Poland was the first country in Europe and the second in the world to adopt a codified national constitution (1791).

• The oldest operating restaurant in Europe (established in 1275) is located in Wrocław and it is known as "Piwnica Swidnicka".

• Poland is famous for its amber transported along the Amber Route from the Baltic Sea for over 1000 years.

• Poland is among the world's biggest producers of hard coal. Also, it exports furniture, food, clothing, boats.

University of Warsaw

Among the top 2% of higher education institutions You may find University of Warsaw in the Times Higher ­Education World University Rankings and the Academic Ranking of World Universities.

This fact guarantees high quality and standards.

Academic life within the city The University of Warsaw consists of 3 campuses which gives the opportunity to enjoy the city.

Affordable European education Not only costs of living, but also tuition fees are competetive.

At the same time, high quality of research and teaching is maintained.

Main campus in the city centre

”

We believe that our alumni benefit from the quality education and high reputation of our University

”

Prof. Marcin Pałys Rector of the University of Warsaw

One of the best in the region

60,000

members of the community

The University of Warsaw community includes international students, PhD students, and teachers.

Country

Percentage

Other

30 %

Ukraine

21 %

Belarus

10 %

Spain

8%

Germany

6%

Italy

6%

France

4%

Turkey

4%

China

4%

Russia

3%

Lithuania

3%

Portugal

2%

4,200 international students and teachers

1,470 200 research grants

years of history

21 faculties

The University of Warsaw is one of the best universities not only in Poland, but also in the region. The University of Warsaw is the only Polish higher education institution included in the first 600 best universities worldwide in the Times Higher Education World University Rankings.

According to the Quaquarelli Symmonds World University Ranking (QS), the University of Warsaw ranked 344 in the world and 248 in the ranking lists of the faculties in social sciences and management. It is also included in the Top 500 Academic Ranking of World Universities (Shanghai list).

The University has established various business and research partnerships. For example, the institution has recently established a partnership with Google. The company has funded a research centre referred to as the Digital Economy Lab (DELab), which focuses on new technologies, economy and society.

This is the first project of this kind in Central and Eastern Europe.

Faculty of Economic Sciences

Awarded with A+ Leader in research in the field of economics according to the Ministry of Science in Poland. The category A+ has been given only to 4% of all institutions in Poland.

Internationally recognised programmes Quantitative Finance is the 19th best programme in the world according to the Eduniversal ranking "Top 100 programmes in financial markets", whereas International Economics is the 1st best according to the Eduniversal regional ranking.

Erasmus and double degree All students, both Polish and international, can benefit from the Erasmus+ exchange programme and choose to study one or two semesters in a different country in the EU, as well as from double degree programs on undergraduate and graduate level (Belgium, Germany, Portugal, China).

Inauguration ceremony

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The Faculty of Economic Sciences at the University of Warsaw is a great place to study if you are an ambitious student. The Ministry of Science acknowledged the academic excellence of the faculty by awarding it with category A+. Moreover, its academic members of staff are the most frequently cited among Polish scholars (according to IDEAS RePEc).

Prof. Jan Jakub Michałek Dean of the Faculty of Economic Sciences

”

1 out of 5

The faculty has one of the highest internationalisation rates at the University of Warsaw: 23%.

Our faculty is a small elite unit that educates a total of 2,000 students each year and has a rich and diverse educational offer.

The Faculty of Economic Sciences degree programmes combine a solid foundation of academic education with a high quality of specialised knowledge, considered to be essential in the modern economic environment. Our graduates are respected and sought out by employers and easily find employment in various institutions.

Modern economics is not only an empirical science but also an experimental one. Our programmes cover subjects falling within the domain of modern economics with while being consistent with high European standards.

Chairs and Divisions Microeconomics

Banking, Finance and Accounting

Political Economy

Development Economics

Population Economics and Demography

Economic History

Quantitative Finance

Information Systems and Economic Analysis

Statistics and Econometrics

Macroeconomics and International Trade Theory

Research There are over 50 research projects funded by national and international agencies that are currently conducted at the faculty. A list of some of our international projects may be found below: • BONUS GO4BALTIC. Coherent policies and governance of the Baltic Sea Ecosystems.

• BONUS BALTICAPP. Well-being from the Baltic Sea – applications combining natural science and economics.

• GENDEQU. Gender equality at the university.

• INNOGEND. ‘Innovative Gender’ as a New Source of Progress.

The faculty organises an annual conference known as the Warsaw International Academic Meeting with guest lectures by prominent researchers. It is also an organizer of other annual conferences on the topics of Eurozone as well as law and economics. The faculty publishes "Central European Economic Journal".

Most frequent JEL Codes The alphabetical list of the JEL codes below illustrates the most popular academic interests of the faculty staff members.

A1 General Economics A2 Economic Education and Teaching of Economics and International Political Economy C1 Econometric and Statistical Methods and Methodology C2 Single Equation Models • Single Variables C3 Multiple or Simultaneous Equation Models • M ­ ultiple Variables C5 Econometric Modelling C6 Mathematical Methods • Programming Models • Mathematical and Simulation Modelling C8 Data Collection and Data Estimation Methodology • Computer Programs C9 Design of Experiments D03 Behavioural Microeconomics: Underlying P ­ rinciples D1 Household Behaviour and Family Economics D2 Production and Organizations D3 Distribution D4 Market Structure, Pricing, and Design D5 General Equilibrium and Disequilibrium D6 Welfare Economics D7 Analysis of Collective Decision-Making D8 Information, Knowledge, and Uncertainty E2 Consumption, Saving, Production, Investment, L­ abour Markets, and Informal Economy E4 Money and Interest Rates E5 Monetary Policy, Central Banking, and the Supply of Money and Credit E6 Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook F1 Trade F2 International Factor Movements and International Business

F3 International Finance F4 Macroeconomic Aspects of International Trade and Finance F5 International Relations, National Security, G1 General Financial Markets G2 Financial Institutions and Services G3 Corporate Finance and Governance H1 Structure and Scope of Government H2 Taxation, Subsidies, and Revenue H4 Publicly Provided Goods H5 National Government Expenditures and Related P ­ olicies H7 State and Local Government • Intergovernmental ­Relations I1 Health I2 Education and Research Institutions J1 Demographic Economics J2 Demand and Supply of Labour J3 Wages, Compensation, and Labour Costs J6 Mobility, Unemployment, Vacancies, and Immigrant Workers L1 Market Structure, Firm Strategy, and Market P ­ erformance L8 Industry Studies: Services M1 Business Administration M2 Business Economics M4 Accounting and Auditing O1 Economic Development O3 Innovation • Research and Development • T­ echnological Change • Intellectual Property Rights Q2 Renewable Resources and Conservation Q5 Environmental Economics R1 General Regional Economics

Studies in English

Undergraduate studies • Finance and International Investment

Graduate studies • Quantitative Finance • International Economics • Data Science

Doctoral studies • Economics

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The faculty offers one undergraduate programme which provides students with the knowledge foundations necessary in the world of finance and economics, along with three graduate programmes and one doctoral programme in English. The main goal of the undergraduate and graduate programmes is to teach students to competently use two main languages in the world of finance and economics: mathematics and English.

On a practical level, the faculty teaches, among others, the usage of STATA, MAXIMA, R, C++, VBA, SAS.

”

Dr Katarzyna Kopczewska Vice Dean for Students Affairs

Finance and International Investment

undergraduate studies

Programme objectives

• Banking (Analyst, Strategist, Anti-Money This math-oriented programme aims at proCareer viding students with professional knowledge perspectives Laundering Specialist) about economic mechanisms and financial • Finance (Investment Analyst, Risk Analyst, instruments. Students learn how to manage modern Finance Analyst, Auditor, Finance Business Partnering, financial engineering at international markets and in Auditor, Trading Specialist) multinational corporations; they are supplied with the • Consulting (Transactions Specialist, European Finanknowledge of monetary policy, banking, insurance, accoce Specialist) unting, foreign exchange risk management techniques, • NGOs and international institutions optimization and corporate finance, especially associated with investing in assets.

Knowledge • You will understand economics and finance Curriculum on both the micro and macro level. and skills Introduction to Economics 30 hrs, 3 ECTS • You will learn how to analyse data, how to History of Economics/ Economic History/ Demography 60 hrs, create and implement financial models.

5.5 ECTS • You will fluently use two main languages in the world Microeconomics I, II, III, 150 hrs, 15 ECTS of finance: mathematics and English.

Macroeconomics I, II, 120 hrs, 11 ECTS Open Economy Macroeconomics, 60 hrs, 6 ECTS • You will learn how to use advanced econometric tools, International Trade Theory, 60 hrs, 6 ECTS such as SAS, R, M ­ AXIMA, STATA, C++, VBA. Linear Algebra, 90 hrs, 4 ECTS Mathematical Analysis I, II, 180 hrs, 10.5 ECTS Probability Calculus, 60 hrs, 7.5 ECTS Mathematical Statistics, 60 hrs, 5.5 ECTS Econometrics, 60 hrs, 7 ECTS Financial Law, 30 hrs, 4 ECTS Finance I, II, 120 hrs, 16 ECTS International Finance, 30 hrs, 4 ECTS Insurances, 30 hrs, 4 ECTS Accounting, 60 hrs, 6 ECTS Investment Account, 30 hrs, 5 ECTS Introduction to Public Finance, 30 hrs, 4 ECTS Banking, 30 hrs, 4 ECTS Specialisation course, 60 hrs, 8 ECTS, Thesis seminar, 60 hrs, 17 ECTS and General knowledge courses (language, elective, physical education, etc.) 494 hrs, 24 ECTS, Internship 3 ECTS

Tuition fee

2,100 EUR annually for non-EU citizens, 6,600 PLN annually for EU/EFTA citizens

Quantitative Finance

graduate studies

Career 19th best programme in the world according to the • Risk Management Eduniversal ranking "Top 100 programmes in financial perspectives • Financial Engineering markets".

• Financial Products Development Programme The field of quantitative finance has been rapidly • Quantitative Asset Management objectives evolving in recent years due to unprecedented • Macroeconomic and Financial Forecasting changes in both technology and financial markets. As financial securities become increasingly complex, • Investment Analysis the demand for individuals who are known as quantita• Derivatives Pricing tive analysts, or simply quants, has grown steadily. They • Algorithmic Trading are and will be in high demand for the foreseeable future • Portfolio Management mostly due to their strong technical skills and challenging nature of the work, which is often described as a mixture • Financial Consultancy of mathematics, finance and computer skills.

The basic advantage of the programme is the shift from Curriculum the general concepts of modern finance towards a focus Statistics & Econometrics, 30 hrs, 1 ECTS on the matter of quantitative finance, which is essential Macroeconomics of Finance, 30 hrs, 6 ECTS in the case of any advanced approach to modelling finanMathematical Methods in Finance, 60 hrs, 7 ECTS cial markets.

Time Series Analysis, 60 hrs, 5 ECTS The track is prepared in order to connect theoretical Advanced Microeconomics (Asset Pricing), 30 hrs, 3 ECTS knowledge with its practical applications. It will simulAdvanced Macroeconomics, 30 hrs, 3 ECTS taneously include a theoretical introduction (describing Quantitative Strategies (High Frequency Data), 60 hrs, 6 ECTS models and theories) and practical applications of these Financial Statement Analysis, 45 hrs, 6 ECTS theories in the world of finance which will allow students Ethical Standards and Financial Law, 30 hrs, 3 ECTS to gain practical insights into the implementation of speAsset Allocation and Investment Strategies I, II, 60 hrs, 6 ECTS cific models and techniques in the capital market.

Derivatives Markets, 45 hrs, 5 ECTS The programme prepares for CFA exam.

Equity and Fixed Income, 45 hrs, 4 ECTS Corporate Finance, 45 hrs, 5 ECTS Computational Finance, 30 hrs, 3 ECTS Risk Analysis and Modelling I, II, 60 hrs, 8 ECTS C++ in Quantitative Finance I, II, 60 hrs, 8 ECTS Theory and Practice of Option Pricing, 30 hrs, 5 ECTS Empirics of Financial Markets, 30 hrs, 5 ECTS Automatic Transactional Systems, 30 hrs, 4 ECTS Thesis Seminar, 90 hrs, 20 ECTS and General knowledge courses (intellectual property, etc.), 70 hrs, 7 ECTS

Tuition fee

2,100 EUR annually for non-EU citizens, 6,600 PLN annually for EU/EFTA citizens

International Economics

graduate studies

1st best programme according to the Eduniversal After having completed their first year in Warsaw, Double regional ranking (Eastearn Europe). selected, students spend their second year at a degree partner university in Belgium (Université cathoProgramme This programme offers cutting-edge knowledge lique de Louvain and Université de Namur), Germany (Trier and skills in the field of international economics objectives University) or Portugal (University Institute of Lisbon) and and is one of the best graduate programmes in after defending their thesis, they receive two diplomas.

Central and Eastern Europe. The selection of courses seeks to provide students with a solid base in economics at an advanced level and to familiarise them with the latest issuCareer • International Trade Negotiations es discussed in scientific research and business. perspectives • Foreign Investment Knowledge • You will fluently implement advanced macro • Currency Market Analysis and skills and micro theory while modelling socio-econo• Labour Market and Migrations Analysis mic processes.

• You will understand how finance and economics work and you will be able to use this knowledge for advanced Curriculum finance engineering in international corporations.

Advanced Microeconomics (General Equilibrium + Game Theory, • You will acquire knowledge about the rules of negotiaGrowth + Business Cycles), 165 hrs tions and you will know how to solve trade disputes.

Microeconometrics, 45 hrs, 5 ECTS • You will use advanced econometric tools such as STATA, Mathematical Methods in Economics, 60 hrs, 5 ECTS MAXIMA, Eviews with ease.

Monetary Economics, 30 hrs, 5 ECTS Macroeconometrics, 45 hrs, 5 ECTS International Labour Migration, 30 hrs, 4 ECTS International Trade Theory, 30 hrs, 5 ECTS International Trade Policy, 30 hrs, 6 ECTS International Economic Geography, 30 hrs, 6 ECTS International Finance, 30 hrs, 6 ECTS International Monetary Policy, 30 hrs, 6 ECTS Theory of Economic Integration, 30 hrs, 6 ECTS Negotiations, 30 hrs, 3 ECTS International Technology Transfer, 30 hrs, 3 ECTS International Marketing, 30 hrs, 6 ECTS Research and thesis seminar, 120 hrs, 34 ECTS and General knowledge courses (intellectual property, language etc.), 40 hrs, 7 ECTS

Tuition fee

2,100 EUR annually for non-EU citizens, 6,600 PLN annually for EU/EFTA citizens

Data Science

graduate studies

Programme This programme is dedicated to candidates who objectives wish to be data analysts possessing a broad set of skills and comprehension of the business and economic processes. The programme is based on four pillars: quantitative methods, computer science / programming, economics / finance, soft skills.

Knowledge • You will combine skills of programming, data and skills analysis using sophisticated algorithms with database management, visualisation and work flow.

• You will be able to understand business customers' needs and solve their problems with data management and analytics.

• You will use R, Python, SQL. • You will acquire knowledge about the rules of negotiations.

Upcoming Curriculum Quantitative methods module: Statistics / Exploratory Data Analysis, Introduction to Data Science, Advanced Econometrics, Machine Learning 1 - Classification Methods, Machine Learning 2- Predictive Models, deep learning, neuron network, elective course IT module: R Intro / Data Cleaning & Imputation in R, Python & SQL Intro / SQL Platforms (Oracle, R, Python), Basics of Visualisation in R, Algorytmics, Webscrapping & Social Media Scrapping in R / Python, Advanced Programming in R, Advanced Visualisation in R, Webb Applications in Python, Text Mining, Big Data (Hadoop, Spark), Reproducible Research, elective course (tools) Economics module: Applied Microeconomics, Applied Macroeconomics, Applied Finance, elective course (economics / finance) Soft skills module: Communication and autopresentation, Negotiations, Understanding business

Tuition fee

2,100 EUR annually for non-EU citizens, 6,600 PLN annually for EU/EFTA citizens

Doctoral studies

Programme The doctoral studies programme includes an objectives obligatory common part which incorporates courses in advanced macroeconomics, advanced microeconomics, advanced econometrics, economic research methodology, philosophy or sociology and elective courses. The latter part consists of specialised courses chosen by the doctoral students (after consultations with their supervisor).

Thanks to such a construction of the doctoral studies programme, in addition to acquiring sound theoretical knowledge of said subjects, doctoral students benefit from the opportunity to expand their specialised knowledge within the framework of the additional courses taught by prominent specialists in the respective fields.

Preparing a doctoral dissertation consists of the independent elaboration of an economically important dilemma (under the guidance of a supervisor).

Doctoral studies prepare graduates to work both as scientists employed by Polish or international academic institutions, as well as participants in the economic and public life on the management or expert level. Graduates possess skills which allow them to independently conduct scientific research, participate in research projects, prepare scientific publications and undertake specific practical tasks as well as solve practical dilemmas.

An important element of the doctoral student profile is the ability to conduct didactic courses in all fundamental areas of economics and advanced courses in which they specialise.

Curriculum 5 Elective courses 150 hrs Teaching course 15 hrs Academic Writing 12 hrs Methodology of Economics 30 hrs Teaching 270 hrs PhD Seminar 240 hrs Selected Topics in Advanced Macroeconomics 40 hrs Selected Topics in Microeconomics 30 hrs Selected Topics in Advanced Econometrics 30 hrs Philosophy / Sociology 30 hrs Research Doctoral Seminar 240 hrs

Tuition fee

4,500 EUR a year for non-EU citizens 3,000 EUR a year for EU/EFTA citizens

Actuarial Summer School

Programme As it has been expected and implemented for objectives the past twelve years, the aim of the school is to fill a gap in the continuing education process, which is recognised as crucial for maintaining high professional standards in the majority of western countries with well-developed insurance markets and well-established actuarial professions. Thus, the programme of the school is mainly dedicated to individuals who have already entered the profession, or at least have passed the basic education stage in the field. Every year the selection of topics is different.

We expect that the individuals wishing to participate are employed in the actuarial, statistical or analytical departments of insurance firms and institutions of the insurance market and pension system, or at least have a basic actuarial knowledge (based on a comprehensive mathematical background) and wish to acquire more specialised skills required in the insurance industry. Academic scholars interested in actuarial sciences are also welcome.

Affordability It can be said that 500 USD per month is the average minimum needed to cover the costs of accommodation, transportation, food and academic materials.

Accommodation • a place in a room in a dormitory – from 100 to 200 USD • single room in a flat – from 200 USD • studio – from 400 USD Public transport (with discount for students) • single ticket - 2,20 PLN, 0.52 USD • 1-month - 55.00 PLN, 13 USD Other expenses • a lunch menu in the students’ cafeteria – from 4 USD • a coffee in a bar – from 1 USD • a ticket to the cinema – from 5 USD • a loaf of bread – 0.5 USD • a student membership at a fitness club (one month) – from 30 USD • a student ticket to a museum – from 5 USD In order to plan your budget wisely, speak to the students from your home country who studied in Warsaw, as they will be the most useful source of advice and tips. We also recommend contacting the Students Union.

International qualifications

Knowledge provided during the studies allows the students to participate in exams: • ACCA • CFA • CIMA

”

It's not a massive city, in terms of population, but it feels like it has everything that I need to live a comfortable life

”

Joshua Lim, exchange student from the Philippines

Faculty of Economic Sciences University of Warsaw Warsaw, Poland www.wne.uw.edu.pl admissions@wne.uw.edu.pl +48 22 55 49 145, 190