Graduate programme «Financial Economics» is equivalent to 120 ECTS. The ECTS credits are gained for compulsory and elective courses, research, obligatory internships outside the University and a master thesis.
Students must obtain 60 ECTS in each one of the two academic years. In order to receive the credits all the course requirements must be fulfilled.
The courses of graduate programme «Research Economics» are available for students of the programme «Financial Economics» as optional classes, however, the ECTS credits gained for those courses will not count towards the required 60 ECTS per year.
The majority of classes is currently given in Russian, although a few courses can be delivered in English, if there are non-Russian speaking students in the class. This is possible as some IMARES and ENERPO students have in the past chosen to take some economics classes.
First year (Modules 1–5)
Class hours (lectures+seminars) and the ECTS credits are given in brackets.
Module 1 (September—October)
- Mathematics for economists: Optimization (7+14; 2 ECTS) — Kirill Borissov
- Mathematics for economists: Dynamics (7+14; 2 ECTS) — Ekaterina Polyakova
- Mathematical statistics (14+19; 3 ECTS) — Olga Podkorytova, Mikhail Sokolov
- Introduction into the history of economic development (7+14; 2 ECTS) — Ekaterina Gushchina
Module 2 (November—December)
- Macroeconomics (advanced level) (7+21; 2 ECTS) — Yulia Vymyatnina
- Microeconomics (advanced level) (14+21; 2 ECTS) — Kirill Borissov, Mikhail Pakhnin
- Econometrics (advanced level) (14+28; 2 ECTS) — Olga Podkorytova, Yulia Raskina
- Financial management (7+11; 2 ECTS) — Dmitry Kolesov
- Statistical training
Electives
- Measuring the economy (7+7; 2 ECTS) — Yulia Raskina
Module 3 (January—February)
- Macroeconomics (advanced level) (6+10; 1 ECTS) — Yulia Vymyatnina
- Microeconomics (advanced level) (9+19; 1 ECTS) — Kirill Borissov, Mikhail Pakhnin
- Econometrics (advanced level) (10+22; 1.5 ECTS) — Olga Podkorytova, Mikhail Sokolov
- Financial markets: Institutions and instruments (7+7; 2 ECTS) — Konstantin Vasilyev
- Statistical training
Module 4 (March—April)
- Macroeconomics (advanced level) (8+16; 1 ECTS) — Kirill Borissov, Mikhail Pakhnin
- Microeconomics (advanced level) (8+20; 1 ECTS) — Andrey Kudryavtsev
- Econometrics (advanced level) (8+18; 1.5 ECTS) — Olga Podkorytova, Mikhail Sokolov
- Game theory (14+21; 3 ECTS)
- Statistical training
Module 5 (May—June)
- Macroeconomics (advanced level) (6+10; 1 ECTS) — Kirill Borissov, Mikhail Pakhnin
- Microeconomics (advanced level) (4+10; 1 ECTS) — Kirill Borissov, Mikhail Pakhnin
- Additional topics in econometrics (9+15; 3 ECTS) — Olga Podkorytova, Yulia Raskina
Second year (Modules 6–10)
During the second year students should attend several compulsory and elective courses. The Master's thesis is to be submitted and defended by the middle of June.
Modules 6–7 (September—December)
Compulsory courses
- Asset pricing (7+14; 2 ECTS)
- Corporate finance (7+21; 3 ECTS)
- Theory and practice of teaching economics
- Research project in econometrics
- Research work
Elective courses
- Insurance (7+14; 2 ECTS) — Andrey Kudryavtsev
- Mathematical models of financial economics (7+14; 2 ECTS) — Boris Lifshits
- Demographic problems of modern Russia (7+14; 3 ECTS) — Gayane Safarova
- Derivatives (7+14; 3 ECTS) — Boris Lifshits
- Actuarial science I: Non-life actuarial mathematics (14+14; 3 ECTS) — Andrey Kudryavtsev
- Microeconomics of banking (14+14; 3 ECTS) — Maria Semenova (HSE Moscow)
- Econometrics for financial modeling (7+14; 2 ECTS)
- Financial risk management and financial regulation (7+14; 2 ECTS) — Andrey Radionov
Modules 8–10 (January—June)
Compulsory courses
Elective courses
- Actuarial science II: Life actuarial mathematics (7+14; 3 ECTS) — Andrey Kudryavtsev
- Real options (7+14; 3 ECTS) — Boris Lifshits
- Investments under uncertainty (7+14; 4 ECTS) — Boris Lifshits
- Theories of money (7+14; 3 ECTS) — Yulia Vymyatnina
The Department of Economics reserves the right to make partial changes in the programme.