The Program aims to develop the culture and skills needed by young executives to lead in the field of businesses and organizations, in Greece and internationally, to train specialized scientists capable of contributing to the multifaceted development of the Greek and global economy. It also aims to cultivate the knowledge provided so that it is possible to continue studies at the doctoral level.

Why Choose This Specialization

To acquire skills in Actuarial and Financial Mathematics such as:

  • Modeling problems under stochastic factors.
  • Designing solutions based on maximum likelihood.
  • Computational validation and implementation.
  • Scientific programming and heterogeneous data management.
  • Searching, analyzing, and synthesizing data using appropriate technologies.
  • Applying knowledge to solve problems and turn theory into practice.
  • Assessing business risks and quantifying their likelihood.
  • Modeling financial products and estimating credit risk.
  • Designing insurance, investment, and credit programs.
  • Pricing goods or services.
  • Studying allocation of limited resources over time.
  • Solving complex risk management problems using financial techniques applied in institutions.
  • Understanding the use and technical aspects of risk management financial instruments (portfolios, futures, options).

Program Objective

The program aims to develop the culture and skills needed by new professionals to lead in business and organizations in Greece and internationally. It trains specialized scientists to contribute to the multifaceted development of the economy and provides a solid foundation for doctoral studies.

Who Is It For

This specialization is mainly intended for graduates in Science, Economics, IT, and Engineering who wish to deepen their knowledge in Finance, Actuarial Science, and Risk Management, through the lens of Financial Mathematics and Probability Theory.

Duration of Studies

The duration is 3 academic semesters for full-time or 5 semesters for part-time study. The final semester is dedicated to a Master's thesis.

Tuition Fees

The total tuition fee is €2,200, payable in two installments.

Where and When Courses Take Place

Courses are conducted exclusively online, primarily during weekday evenings and Saturday mornings.

Faculty

  • Faculty members from the Department of Statistics and Actuarial-Financial Mathematics.
  • Faculty from other Greek universities.
  • Industry experts with relevant professional experience.

Curriculum

Mandatory courses in the 1st semester:

  1. Regression and Analysis of Variance
  2. Applied Statistics and Simulation Techniques
  3. Financial Markets and Products
  4. Bayesian Statistics
  5. Stochastic Processes

Mandatory courses in the 2nd semester:

  1. Actuarial Models for General Insurance
  2. Financial Mathematics

Three elective courses chosen from the following:

  1. Applied Multivariate Analysis and Big Data
  2. Decision and Game Theory
  3. Risk Measurement and Management
  4. Machine Learning
  5. Advanced Forecasting and Modeling Systems
  6. Pension Schemes and Social Security
  7. Time Series
  8.  
  9. Statistical Quality Control

See more in the Study Guide.

Career Opportunities

The MSc program equips graduates with the skills and knowledge to meet the demands of the modern job market, using advanced analytical tools and methodologies for data analysis, decision-making, and business strategy.

Upon successful completion, graduates possess specialized knowledge in Financial Mathematics and Actuarial Science, along with skills in statistics, data analysis, IT, and economics.

Career opportunities span both the public and private sectors in various organizations and companies.

Indicative job roles:

  • Statisticians
  • Data Analysts
  • Actuaries
  • Risk Managers
  • Financial Analysts
  • Financial Consultants
  • Researchers
  • Statistical study and research professionals

Applications

Applications and required documents are submitted online via the University of the Aegean's "NAUTILOS" electronic platform.

Required Documents

  • Application form.
  • CV in Greek or English.
  • One-page motivation statement.
  • Two recommendation letters.
  • Copy of both sides of ID card.
  • Degree certificate or graduation confirmation.
  • Official transcript indicating degree grade.
  • Copy of undergraduate thesis (if applicable).
  • Copies of published papers (if available).
  • Proof of work or research experience (if available).
  • English language certificate (B2 level). If not available, the selection committee will assess proficiency via examination.
  • Greek language certificate (for foreign applicants).

Evaluation Criteria

  • Degree and GPA.
  • Personal interview.
  • Additional qualifications such as work experience, extra degrees or certifications, GMAT, seminars, further training, publications, computer skills.

Contact

Postgraduate Program Secretariat

Karlovasi, 83200, Samos, Tel: +30 22730 82310, +30 22730 82024, Email: This email address is being protected from spambots. You need JavaScript enabled to view it.