Research in Finance - 104 - 2nd year of master's degree

Le programme de la formation

LEVELLING COURSES - 2 courses

  • Python for finance (Bloc 1/3 of the Certificate "Fundamentals of Data Science")
  • Monte Carlo Simulations in finance - MathLab
  • Financial Econometrics I
  • Introduction to corporate finance
  • DIGITAL Finance

FUNDAMENTAL COURSES - 4 courses for 24 ECTS (Option 1) or 5 courses for 30 ECTS (Option 2)

  • Game theory
  • Term structures : theory, models and empirical tests
  • Finance in continuous time 
  • Derivative Pricing and Stochastic calculus II
  • Corporate finance
  • Management of Credit Risk : Theory and applications
  • Asset pricing theory
  • Fixed income derivatives

SEMINARS - 2 courses for 6 ECTS (Option 1) or 0 (Option 2)

  • Machine Learning in Finance
  • Regulation and financial Markets
  • Structured products in practice
  • Microeconomics for finance

SEMINARS - 4 courses for 12 ECTS (Option 1) or 6 courses for 18 ECTS (Option 2)

  • Strategies and actors on financial markets
  • Microstructure of financial markets
  • Advanced corporate finance
  • Behavioral finance
  • Advanced empirical corporate finance
  • Empirical Asset Pricing
  • Advanced Market Microstructure
  • Time series
  • Data management (Bloc 2/3 of the Certificate "Fundamentals of Data Science")
  • Machine Learning : empirical applications for finance (Bloc 3/3 of the Certificate "Fundamentals of Data Science")
  • Alternative Finance
  • Blockchains and Cryptocurrencies
  • Financial macroeconomics

METHODOLOGY OF RESEARCH AND MASTER’S THESIS - Choose either "Applied Master’s Thesis + Internship" (6 ECTS) or “Research Master’s Thesis” (6 ECTS)

  • Seminar on research methodology
  • Applied Master's thesis
  • Internship
  • Research Master's thesis
  • Frontiers in Finance

PROFESSIONNAL TRAINING

  • Formation Alumnye
  • AMF Certification (On line course)

Formation année universitaire 2022 - 2023 - sous réserve de modification


Modalités pédagogiques

The total teaching time is of 320 to 360 hours, from September to April. It is made of 36 hours of levelling courses in digital finance, corporate finance, financial econometrics and programming in Python and Mathlab.

The fundamental courses are taught mainly (but not only) during the first semester. They represent 150 hours, on corporate finance, mathematical finance, derivatives and asset pricing, management of fixed income, game theory, etc.
The specialization seminars are devoted to topics like advanced corporate finance, behavioral finance, alternative finance, machine learning, regulation, etc. They represent 105 hours.

In parallel with these courses, the student will have to write a Master’s thesis in contemporary finance, and organize his personal work time. There are two possible options: the first is to write a research Master’s thesis (this could be the first step towards a doctorate); the second is to write an applied Master’s thesis. In this case it is mandatory to make a 3-months internship.

The program gives students the opportunity to study in English, during the second semester, in one of the following institutions: there is one place at the Bocconi University every two years. There are two places per year at Tilburg University in the MSC “Research in Finance”. Students interested in doing doctorate wil take priority for these places. There are two places at Lugano University (English, Msc in finances or modules at the doctorate level), and two places at HEC Lausanne. Where the number of students wishing to study abroad exceeds the number of places available, priority will be given to those students who have already spent at least on year at Dauphine. Besides, the M2 104 belong to the QTEM network, which give the possibility to study one year abroad.
Finally, the 104 offers, in the beginning of the year, some carreer coaching. It is also possible to obtain a certification by the French Autority of Financial Markets, and by the CFA.


Stages et projets tutorés

The students will write a Master’s thesis during the year, which will be part of their professional skills. The aim of the Master’s thesis is to produce an original piece of research work on a clearly defined topic within the investigative field of contemporary finance, under the guidance of one of the Masters’ Professors. For students considering a doctoral thesis, the Master’s thesis enables them to get an initial feel for what research involves and is often the foundation for further investigation for a student’s doctorate. For others, the Master’s thesis is a unique opportunity to demonstrate their scientific expertise in the field of finance and experience shows that employers highly value this research approach.

For students who choose the applied research option, the M2 104 includes a 3 months (or more) internship which starts in April and is carried out in a financial institution or in the finance department of a firm. Firms which regularly employ interns include: Société Générale, BNP Paribas, CACIB, Dexia Securities, Rothschild, Natixis, Murex, HSBC, Axa, Groupama, Renault, SFR....

The master receives a wealth of internship offers from companies and past Master’s students which helps students find the right internship every year. Past students pursue careers in Risk Management, Asset Management, Financial Research, theGeneral Inspectorate of Finance, Quantitative Research, Capital Market Trading, Trading, Consulting and Academia (French and foreign universities, Frenchgrandes écoles)