Actuarial and Financial Engineering

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Dean's Office

Faculty contacts link:
Employee contacts

Faculty phone:
+ 372 737 5341

Faculty email:
hv.dekanaat [at] ut.ee

Faculty address:
Jakobi 2, rooms 116–121, 51005 Tartu
Institute of History and Archaeology

Faculty link:
www.flaj.ut.ee

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Employee contacts

Faculty phone:
+372 737 5651

Faculty address:
Jakobi 2, 51005 Tartu
Institute of Estonian and General Linguistics

Faculty link:
keel.ut.ee

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Employee contacts

Faculty phone:
+372 737 5221

Faculty email:
keeleteadus [at] ut.ee

Faculty address:
Jakobi 2, 51005 Tartu
Institute of Philosophy and Semiotics

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www.flfi.ut.ee

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Employee contacts

Faculty phone:
+372 737 5314

Faculty email:
filosoofia.semiootika [at] ut.ee

Faculty address:
Jakobi 2, rooms 309–352, 51005 Tartu
Institute of Cultural Research

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www.flku.ut.ee

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Employee contacts

Faculty phone:
(+372) 737 5223

Faculty email:
kultuuriteadused [at] ut.ee

Faculty address:
Ülikooli 16, 51003 Tartu
School of Theology and Religious Studies

Faculty link:
us.ut.ee

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Employee contacts

Faculty phone:
+372 737 5301

Faculty email:
us [at] ut.ee

Faculty address:
Ülikooli 18–310, 50090 Tartu
College of Foreign Languages and Cultures

Faculty link:
maailmakeeled.ut.ee

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Employee contacts

Faculty email:
keeled [at] ut.ee

Faculty address:
Lossi 3, 51003 Tartu
Viljandi Culture Academy

Faculty link:
kultuur.ut.ee

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Employee contacts

Faculty phone:
+372 435 5232

Faculty email:
kultuur [at] ut.ee

Faculty address:
Posti 1, 71004 Viljandi

Dean's Office

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Employee contacts

Faculty phone:
+ 372 737 5900

Faculty email:
sotsiaalteadused [at] ut.ee

Faculty address:
Lossi 36, 51003 Tartu
Institute of Education

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www.ht.ut.ee

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Employee contacts

Faculty phone:
+372 737 6440

Faculty email:
haridus [at] ut.ee

Faculty address:
Salme 1a–29, 50103 Tartu
Johan Skytte Institute of Political Studies

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skytte.ut.ee

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Employee contacts

Faculty phone:
+372 737 5582

Faculty email:
skytte [at] ut.ee

Faculty address:
Lossi 36–301, 51003 Tartu
School of Economics and Business Administration

Faculty link:
majandus.ut.ee

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Employee contacts

Faculty phone:
+372 737 6310

Faculty email:
majandus [at] ut.ee

Faculty address:
J. Liivi 4, 50409 Tartu
Institute of Psychology

Faculty link:
psychology.ut.ee

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Employee contacts

Faculty phone:
+372 737 5902

Faculty email:
psyhholoogia [at] ut.ee

Faculty address:
Näituse 2, 50409 Tartu
School of Law

Faculty link:
law.ut.ee

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Employee contacts

Faculty phone:
+372 737 5390

Faculty email:
oi [at] ut.ee

Faculty address:
Näituse 20–324, 50409 Tartu
Institute of Social Studies

Faculty link:
yti.ut.ee

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Employee contacts

Faculty phone:
+372 737 5188

Faculty email:
yhiskonnateadused [at] ut.ee

Faculty address:
Lossi 36, 51003 Tartu
Narva College

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www.narva.ut.ee

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Employee contacts

Faculty phone:
+372 740 1900

Faculty email:
college [at] narva.ut.ee

Faculty address:
Raekoja plats 2, 20307 Narva
Pärnu College

Faculty link:
www.pc.ut.ee

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Employee contacts

Faculty phone:
+372 445 0520

Faculty email:
info [at] pc.ut.ee

Faculty address:
Ringi 35, 80012 Pärnu

Dean's Office

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Employee contacts

Faculty phone:
+372 737 5326

Faculty email:
med [at] ut.ee

Faculty address:
Ravila 19, 50411 Tartu
Institute of Biomedicine and Translational Medicine

Faculty link:
biomeditsiin.ut.ee

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Employee contacts

Faculty phone:
+372 737 4210

Faculty email:
bsmi [at] ut.ee

Faculty address:
Biomeedikum, Ravila 19, 50411 Tartu
Institute of Pharmacy

Faculty link:
farmaatsia.ut.ee

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Employee contacts

Faculty phone:
+372 737 5286

Faculty email:
pharmacy [at] ut.ee

Faculty address:
Nooruse 1, 50411 Tartu
Institute of Dentistry

Faculty link:
hambaarstiteadus.ut.ee

Faculty contacts link:
Employee contacts

Faculty phone:
+372 731 9856

Faculty address:
Raekoja plats 6, 51003 Tartu
Institute of Clinical Medicine

Faculty link:
clinicalmedicine.ut.ee

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Employee contacts

Faculty phone:
+372 737 5323

Faculty email:
kmi [at] ut.ee

Faculty address:
L. Puusepa 8, 50406 Tartu
Institute of Family Medicine and Public Health

Faculty link:
tervis.ut.ee

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Employee contacts

Faculty phone:
+372 737 4190

Faculty email:
dph [at] ut.ee

Faculty address:
Ravila 19, 50411 Tartu
Institute of Sport Sciences and Physiotherapy

Faculty link:
www.kk.ut.ee

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Employee contacts

Faculty phone:
+372 737 5360

Faculty email:
kkdek [at] ut.ee

Faculty address:
Jakobi 5–205, 51005 Tartu

Dean's Office

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Employee contacts

Faculty phone:
+372 737 5820

Faculty email:
ltt [at] ut.ee

Faculty address:
Vanemuise 46–208, 51005 Tartu
Institute of Computer Science

Faculty link:
cs.ut.ee

Faculty contacts link:
Employee contacts

Faculty phone:
+372 737 5445

Faculty email:
ics [at] ut.ee

Faculty address:
J. Liivi 2, 50409 Tartu
Estonian Marine Institute

Faculty link:
www.sea.ee

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Employee contacts

Faculty phone:
+372 671 8902

Faculty address:
Mäealuse 14, 12618 Tallinn
Institute of Physics

Faculty link:
www.fi.ut.ee

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Employee contacts

Faculty address:
W. Ostwaldi 1, 50411 Tartu
Institute of Chemistry

Faculty link:
chem.ut.ee

Faculty contacts link:
Employee contacts

Faculty phone:
+372 737 5261

Faculty email:
chemistry [at] ut.ee

Faculty address:
Ravila 14a, 50411 Tartu
Institute of Mathematics and Statistics

Faculty link:
www.math.ut.ee

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Employee contacts

Faculty phone:
+372 737 5860

Faculty email:
ltms [at] ut.ee

Faculty address:
J. Liivi 2, 50409 Tartu
Institute of Molecular and Cell Biology

Faculty link:
tymri.ut.ee

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Employee contacts

Faculty phone:
+372 737 5011

Faculty address:
Riia 23, 23b–134, 51010 Tartu
Tartu Observatory

Faculty link:
www.kosmos.ut.ee

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Employee contacts

Faculty phone:
+372 737 4510

Faculty email:
kosmos [at] ut.ee

Faculty address:
Observatooriumi 1, Tõravere, 61602 Tartumaa
Institute of Technology

Faculty link:
tuit.ut.ee

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Employee contacts

Faculty phone:
+372 737 4800

Faculty email:
info [at] tuit.ut.ee

Faculty address:
Nooruse 1, 50411 Tartu
Institute of Ecology and Earth Sciences

Faculty link:
www.omi.ut.ee

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Employee contacts

Faculty phone:
+372 737 5835

Faculty email:
om [at] ut.ee

Faculty address:
Vanemuise 46, 51003 Tartu

Institutions

Library

Faculty link:
utlib.ut.ee

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Employee contacts

Faculty phone:
+372 737 5702

Faculty email:
library [at] utlib.ee

Faculty address:
W. Struve 1, 50091 Tartu
Youth Academy

Faculty link:
teaduskool.ut.ee

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Employee contacts

Faculty phone:
+372 737 5581

Faculty email:
teaduskool [at] ut.ee

Faculty address:
Uppsala 10, 51003 Tartu
Institute of Genomics

Faculty link:
genomics.ut.ee

Faculty contacts link:
Employee contacts

Faculty phone:
+372 737 4000

Faculty email:
egv [at] ut.ee

Faculty address:
Riia 23b, 51010 Tartu
Museum

Faculty link:
muuseum.ut.ee

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Employee contacts

Faculty phone:
+372 737 5674

Faculty email:
muuseum [at] ut.ee

Faculty address:
Lossi 25, 51003 Tartu
University of Tartu Natural History Museum and Botanical Garden

Faculty link:
natmuseum.ut.ee

Faculty contacts link:
https://www.ut.ee/en/kontakt/loodusmuuseum-botaanikaaed-0

Faculty phone:
+372 737 6076

Faculty email:
loodusmuuseum [at] ut.ee

Faculty address:
Vanemuise 46, 51003 Tartu

Support Units

Administrative Office

Faculty contacts link:
Employee contacts

Faculty phone:
+372 737 5606

Faculty email:
kantselei [at] ut.ee

Faculty address:
Ülikooli 18a, 51005 Tartu
Centre for Entrepreneurship and Innovation

Faculty contacts link:
Employee contacts

Faculty phone:
+372 737 6339

Faculty address:
Lossi 3, III floor, 51003 Tartu
University Office in Tallinn

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University Office in Tallinn

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Employeescontacts

Faculty phone:
+372 737 6600

Faculty email:
esindus [at] tallinn.ut.ee

Faculty address:
Teatri väljak 3, 10143 Tallinn
Estates Office

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Employee contacts

Faculty phone:
+372 737 5137

Faculty address:
Ülikooli 18a, 51005 Tartu
Finance Office

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Employee contacts

Faculty phone:
+372 737 5125

Faculty email:
rahandus [at] ut.ee

Faculty address:
Jakobi 4, 51005 Tartu
Grant Office

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Employee contacts

Faculty phone:
+372 737 6215

Faculty address:
Lossi 3, III floor, 51003 Tartu
Information Technology Office

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Employee contacts

Faculty phone:
+372 737 6000, IT-help: +372 737 5500

Faculty email:
itk [at] ut.ee, arvutiabi [at] ut.ee

Faculty address:
Ülikooli 18a, 51005 Tartu
Human Resources Office

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Employee contacts

Faculty phone:
+372 737 5145

Faculty email:
personal [at] ut.ee

Faculty address:
Ülikooli 18, rooms 302 and 304, 50090 Tartu
Internal Audit Office

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Employee contacts

Faculty email:
siseaudit [at] ut.ee

Faculty address:
Ülikooli 17–103, 51005 Tartu
Marketing and Communication Office

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Employee contacts

Faculty phone:
+372 737 5687

Faculty email:
info [at] ut.ee, avalik [at] ut.ee

Faculty address:
Ülikooli 18, rooms 102, 104, 209, 210, 50090 Tartu
Office of Academic Affairs

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Employee contacts

Faculty phone:
+372 737 5620

Faculty email:
study [at] ut.ee

Faculty address:
Ülikooli 18, 50090 Tartu
Procurement Office

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Employee contacts

Faculty phone:
+372 737 6632

Faculty email:
tuuli.ilula [at] ut.ee

Faculty address:
Ülikooli 18a, 51005 Tartu
Rector's Office
Rector's Strategy Office

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Employee contacts

Faculty phone:
+372 737 5600

Faculty email:
rektor [at] ut.ee

Faculty address:
Ülikooli 18, 50090 Tartu
Student Council

Faculty link:
tyye.ut.ee

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Employee contacts

Faculty phone:
+372 737 5400

Faculty email:
info [at] tyye.ee

Faculty address:
Ülikooli 18b, 51005 Tartu

University of Tartu Academic Sports Club

Faculty link:
sport.ut.ee

Faculty phone:
+372 737 5371

Faculty email:
info [at] tysk.ee

Faculty address:
Ujula 4, 51008 Tartu
Tartu Student Village

Faculty link:
campus.ee

Faculty phone:
+372 740 9959

Faculty email:
info [at] kyla.ee

Faculty address:
Narva mnt 25, 51013 Tartu
Tartu Students’ Club

Faculty link:
www.tym.ee

Faculty phone:
+372 730 2400

Faculty email:
tym [at] ut.ee

Faculty address:
Kalevi 24, 51010 Tartu
University of Tartu Press

Faculty link:
www.tyk.ee

Faculty phone:
+372 737 5945

Faculty email:
tyk [at] ut.ee

Faculty address:
W. Struve 1, 50091 Tartu
Tartu University Hospital

Faculty link:
www.kliinikum.ee/eng

Faculty email:
kliinikum [at] kliinikum.ee

Faculty address:
L. Puusepa 1a, 50406 Tartu
University of Tartu Foundation

Faculty link:
sihtasutus.ut.ee/en

Faculty phone:
+372 737 5852

Faculty email:
triin.vakker [at] ut.ee

Faculty address:
Ülikooli 18, 50090 Tartu
View all other units

Faculty link:
www.ut.ee/en/other-units

Actuarial and Financial Engineering

Master of Science

Application deadlines

Jan 2 application system opens

March 15 application deadline

May 15 final admission results

Sept 2 academic year starts

How to apply CONTACT US

Actuarial and Financial Engineering

2-year master's programme prepares specialists for financial sector, banking and insurance industries in quantitative methods of risk assessment and hedging, providing knowledge and skills in two major areas - financial engineering and insurance mathematics. Sound knowledge and interest in mathematics are advantageous to succeeding in this master's programme.

The ability to derive, implement and use correctly numerical procedures for computing various financial quantities is crucial for being successful in the field of quantitative finance. It is also helps to make better choices when buying an insurance policy or stock options.

Why Actuarial and Financial Engineering?

Special emphasis on applied mathematical models and quantitative methods.
Only programme of this kind in the region, meeting EU educational standards in actuarial mathematics.
Graduates very competitive on national and international job market as analysts, actuaries and risk engineers.
Knowledge, practical skills and competence needed to succeed in careers at banks, insurance companies, consulting, financial utilities and financial supervisory authorities.
The teaching staff consists of professors highly qualified in the field of financial mathematics, who have also done extensive research and have international experience. Some of the lectures in the programme will be delivered by visiting international staff.
All graduates can find jobs easily in Estonia and around the world.

Career opportunities

The Actuarial and Financial Engineering master's programme prepares students for professional opportunities or further PhD studies in Mathematical Statistics at the University of Tartu or elsewhere. The University of Tartu offers doctoral programmes in Mathematics, Economics or Mathematical Statistics with specialisation in Financial Mathematics. Read more here.

Programme details

Title Actuarial and Financial Engineering	Language English
Level of study Master's	Location Tartu, Estonia
Degree awarded Master of Science (Actuarial and Financial Engineering)	Tuition fee 3740 EUR/year
Faculty Faculty of Science and Technology, Institute of Mathematics and Statistics	Scholarships 10 tuition waivers
Duration 2 years
Credits 120 ECTS
Study-form Full-time regular studies

Tuition fee and scholarships

The tuition fee is 3740 euros per year and it covers tuition and some study materials. Altogether 15 students will be admitted to this programme. Based on the admission’s ranking list, 10 best applicants will be given the tuition-waiver scholarship. Applicants do not have to apply for the tuition-waiver separately, as they will be considered for the competition automatically.

Students receiving the tuition-waiver do not have to pay the tuition fee if they meet full time enrollment requirements. Full time study load is completed if no more than 6 credits are missing from the 30 ECTS workload per semester. If students receiving the tuition-waiver fail to complete full-time study load per semester, they have to pay for the credits not earned. The price per credit point is 65 euros. Information on when a tuition-waiver scholarship holder starts paying tuition fee and instructions for fee paying students are given here.

Please find information on other scholarships here.

Ask a student

I lived most of my life in United Arab Emirates and wanted to bring new flavor and energy into my student life. Estonia is a perfect injection of thrill compared to where I come from, in addition the university is ranked pretty high on an international level. As a student you get to be part of various events and integrate with other nationalities that come to study in Estonia. It is amazing how diverse is the atmosphere and lifestyle in Estonia.

Misha, International Student Ambassador from Armenia

Contact International Student Ambassadors to enquire about the life in Tartu.

Programme Director

The master's programme provides knowledge of classical and modern methods in financial and insurance mathematics and follows the guidelines specified in the Education Syllabus of the International Actuarial Association.

Graduates of the programme have established themselves as valued specialists in banks and insurance companies overall the world, including the Wall Street.

Meelis Käärik, Associate Professor in Probability Theory

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