Program director

faculty

Filippo Ippolito

UPF and Barcelona GSE
faculty

Xavier Freixas

UPF and Barcelona GSE

The complex financial times we live in demand greater modelling techniques and a deeper understanding of financial data. The Master in Finance at the Barcelona GSE is designed to meet these challenges.

The Master in Finance is a comprehensive program that covers all the important areas of finance and prepares you for the most demanding jobs in banking, consulting and asset management.

This program is unique because it offers better training on quantitative topics than most masters in finance, and has a broader focus than the typical master in quantitative finance.

Our graduates excel in the ability to design and implement complex financial models; understand the theory and bring it to the data. They outclass their peers with a more qualitative background (like an MBA), because they can work in a wider range of positions (risk management, derivatives trading, venture capital, wealth management, etc.). At the same time, our graduates are more versatile than students with a pure quantitative background, because they can reach beyond purely technical jobs

We believe that your time is valuable. We focus on the “hard” topics of finance because these require formal academic training and are difficult to learn on the job.

The program offers interactive classes, intensive use of advanced statistical and mathematical software, in-depth case studies, seminars by practitioners, and the support of an experienced team of career services officers.

This program requires that all entering students be able to show a solid academic background in mathematics and statistics. Proof will be required showing an undergraduate degree with a substantial number of quantitative subjects, or GRE to demonstrate quantitative ability, however the GRE is not mandatory for this program.

What skills and knowledge will I acquire in this program?

The master covers four areas of knowledge:

Asset Pricing and Macroeconomics

  • Introduction to Asset Pricing 
  • Advanced Asset Pricing and Market Frictions
  • Macroeconomics
  • Money and Exchange Rates
  • Stochastic Models and Portfolio Optimization
  • Systemic Risk and Financial Crises
  • Empirical Asset Pricing: use of asset pricing databases employed in the industry

Corporate Finance and Banking 

  • Introduction to Corporate Finance
  • Applied Corporate Finance: interactive case studies based on real firms and modeling of corporate finance problems with Excel
  • Empirical Corporate Finance and Banking: use of corporate finance and banking databases employed in the industry
  • Banking Theory

Econometrics and Data Analysis

  • Econometrics (Stata, MATLAB)
  • Financial Econometrics, Time Series, GARCH and Stochastic Volatility Models

Risk management/Derivatives

  • Pricing Derivatives (Options, Futures, Swaps)
  • Risk Management
Who will benefit from this program?
  • Graduates in Business, Economics, or Finance with a strong interest in quantitative finance or banking
  • Graduates in Engineering, Mathematics, Physics, or Statistics who want to pursue a career in quantitative finance or banking
  • Analysts or policy-makers at financial or supervisory authorities who want to enhance their abilities
  • Aspiring PhD students looking for a rigorous master's program in Finance
Who hires Finance graduates?
  • Banking and Financial Institutions
  • Finance Departments in all fields
  • Asset Management and Risk Management Firms
  • Energy, IT, and Telecommunications Industries, among others
  • Consulting and Research Organizations

Examples of recent Finance placements:

  • Accenture Bank of America
  • Bank of England
  • Barclays
  • BBVA
  • Central Bank of Brazil
  • Central Bank of Peru
  • China Construction Bank
  • Coca-Cola
  • Dell
  • Deloitte
  • Deutsche Bank
  • Ernst & Young (EY)
  • European Central Bank (ECB)
  • European Commission
  • Hewlett-Packard
  • HSBC (Bangkok)
  • Pricewaterhousecoopers (PwC)
  • Riga Commercial Port (RTO)
  • Shell Trading & Shipping
  • United Nations Development Program (UNDP)

Download example Finance placements

Faculty

Alumni

  • logo
    alumni

    Miquel Masoliver

    Quantitative Analyst
    I am currently employed in the Asset Management division and my main tasks are to develop quantitative models to exploit market inefficiencies...It is very exciting and challenging to conduct research in this field, where statistics and probability theory meet behavioral finance. The knowledge I acquired during the Barcelona GSE Master in Finance definitely prepared me well for this work.
  • alumni

    Manuel Litz

    Business Analyst
    Working as a Business Analyst for BearingPoint I have valuable hands-on experience on various projects. Everyday day is different from the last, diverse tasks range from PMO activities to analyzing and structuring deliverables for which I am in the lead, conducting workshops and communicating with the client's management. The workload and rigorous analytical training experience at Barcelona GSE has prepared me well to take on any endeavor in my future.
  • logo
    alumni

    Yilin Zhu

    Risk Management
    Yunnan
    China
    I did my undergraduate degree at UPF, where I had professors who are also teaching at Barcelona GSE. I enjoyed their classes very much, and the quality of the courses is really good.
  • logo
    alumni

    Jebb Peria

    Senior Associate
    Toronto,
    Canada
    The BGSE Finance master has provided me a very strong foundation for my professional career. The courses (stochastic processes, continuous time finance, empirical finance, corporate finance, financial engineering) have equipped me with tools needed in financial modelling and economic analysis my job required.
  • logo

    Kandarp Srinivasan

    PhD Candidate
    What makes the Barcelona Graduate School of Economics really stand out is the quality of its faculty. The opportunity to learn and work with top researchers is of great value for an aspiring academic. Also, the Finance master coursework has a lot of theoretical emphasis and is great preparation for someone interested in a career in research.

Program details: 

Program schedule: 

In the Fall term, students are required to take a mathematics, a statistics and a STATA brush-up course. 

Fall Term (September - December)

Course Title Credits Professor(s)
All courses are mandatory.
Corporate Finance Theory 6 Albert Banal
Asset Pricing 6 Javier Gil Bazo
Econometrics 6

Javier Gómez Biscarri  

Winter Term (January - March)

Course Title Credits Professor(s)
Mandatory:
Financial Econometrics 6 Christian Brownlees
Pricing Financial Derivatives 6 Eulàlia Nualart

Electives - Select 6, 9 or 12 Credits:

Asset Prices and Market Frictions 6 Gonzalo Rubio
Roberto Pascual
Sovereign Debt and International Financial Architecture * 3 Fernando Broner
Money and Exchange Rates * 3 Fernando Broner
Macroeconomics II 6 Danilo Guaitoli 
Luca Fornaro 
Stochastic Models and Optimization 3 Mihalis Markakis

Spring Term (April - June)

Course Title Credits Professor(s)
Mandatory:
Master Project 6 Filippo Ippolito
Electives - Select 12, 15 or 18 Credits:
Systemic Risk and Financial Crises 3 José-Luis Peydró
Applied Corporate Finance 3 Filippo Ippolito
Banking Theory 6 Xavier Freixas
Derivatives and Risk Management 3 Manuel Moreno
Topics in Finance: Empirical Finance 6 Javier Gil-Bazo
Filippo Ippolito
Javier Gómez Biscarri
José-Luis Peydró 

* Courses offered by other Barcelona GSE master's programs. Admission subject to approval by program directors.

Students must complete a total of 60 credits.

Invited speakers from financial institutions

The Finance program brings leading practitioners to campus to speak exclusively to Barcelona GSE students.

This year's scheduled speakers (in alphabetical order) are:

speakerGianluca Capone
FIG Team, JP Morgan
Gianluca recently joined the FIG team of JP Morgan where it covers mostly financial institutions based in Spain and Portugal. Previously, he worked in J.P. Morgan’s Acquisition and Leveraged Finance where it worked on multiple transactions across different industries in EMEA.
 


Jean-Marc IsraëlJean-Marc Israël
Head of the Monetary and Financial Statistics Division, European Central Bank
Jean-Marc is also chairman of the Working Group on Monetary and Financial Statistics which assists the ESCB Statistics Committee and co-chair of the Working Group on Analytical Credit datasets. He participates in, or chaired, various working groups and task forces such as the BIS/Committee on the Global Financial System (CGFS) on credit risk transfers and the Contact Group on Data between the ECB, European Systemic Risk Board and European Supervisory Authorities.


speakerSamad Javadi
Executive Director, Goldman Sachs
Samad works on the Macro Structuring & Strategy desk within the Securities division in London covering institutional clients such as banks, insurance companies and pension funds across Europe and focusing on originating and executing strategic transactions. His main areas of expertise include  regulatory capital optimization, asset/liability management, funding & liquidity and counterparty credit risk.


Thomas PlankThomas Plank
Emerging Markets Trading Desk, Goldman Sachs
Thomas currently works at Goldman Sachs on the Emerging Markets trading desk within the Fixed Income, Currencies and Commodities division, with a focus on structured credit products. His mandate encompasses Central and Eastern Europe, the Middle East and Africa.
 


Josep Maria PuigvertJosep Maria Puigvert
Principal Economist Statistician, ECB Monetary and Financial Statistics Division​
Josep Maria is also Secretary of the Task Force on Money Market Statistics and a project manager of the Money Market Statistical Reporting.  He has also worked in the past in the MFI interest rate team, PDFs, yield curve and money market data production within MFS.
 


speakerScott Richards
Senior Investment Officer, Financial Institutions Equity, responsAbility Investments AG
Scott has more than nine years’ experience in investment banking, capital markets, and microfinance, and has extensive emerging markets experience, including professional experience in both Latin America and Eastern Europe & the CIS. At responsAbility, Scott is in responsible for evaluating investment targets, originating transactions, conducting due diligence, executing transactions, and monitoring the financial institutions equity portfolio.


speakerCharlie Steel
Global Head of Corporate Development, CMC Markets
As Global Head of Corporate Development, Charlie is responsible for evaluating, developing and where appropriate, executing new business for the Group. He is also responsible for evaluating and leading project management for M&A opportunities. Charlie was previously Vice President in Deutsche Bank’s Global Natural Resources group.


speakerPaul Tyler
Director, Tyler Capital
Paul is a business strategy consultant specializing in business development and growth. He is director of three different fast-growing businesses. He has expertise in financial services and property development, business consulting, operations, governance and risk management. He has a decade of experience working in financial markets and algorithmic trading systems development.


Master degree awarded

Upon successful completion of the program, students will receive a Master Degree in Economics and Finance awarded jointly with Universitat Pompeu Fabra (UPF).

All Barcelona GSE master degrees have been recognized by the Catalan and Spanish Education authorities within the framework of the Bologna Process (in Spanish, “Master Universitario o Master Oficial”). Indicadors de qualitat