Master 2 MMMEF - Curriculum

Students involved in the Master 2 MMMEF program have their academic year divided into two parts:
  • a first part (two trimesters) with courses: fundamental courses, specialization and advanced courses,
  • a second part during which students either do an internship or carry out academic research and write a Master's thesis.
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Each student is admitted to the Master's program to follow one of the three majors:
As far as courses are concerned, students need to validate:
  • 8 courses in the list of fundamental courses (UE1),
  • 7 courses in the list of specialization and advanced courses (UE2).
Students have to choose a majority of courses in the list associated with their major. However, they are invited to take courses from other majors in order to widen their skills. The choice of courses will eventually be approved by the supervisor of the student's major.
​Please note that each student must validate a "certification" (foreign language or seminar) in order to complete UE2.

List of courses

The list of courses along with the associated syllabus are available in pdf.

Fundamental courses

  • Stochastic calculus 1 (double) - B. De Meyer
  • Arbitrage theory - C. Chorro
  • Introduction to financial markets - E. Koehler
  • PDE methods in finance - O. Bokanowski (ENSTA)
  • Financial time series analysis (1 & 2) - J.-M. Bardet
  • Combinatorial optimization - A. Skoda
  • Numerical methods in optimization (double) - K. Barty
  • Functional analysis - B. Nazaret
  • General equilibrium theory (double) - J.-M. Bonnisseau / E. Del Mercato (common with the Master's programme APE)
  • Game theory (1 & 2) - J. Abdou
  • Foundations of decision making - M. Grabisch
  • Decision making under uncertainty - V. Vergopoulos
  • Information, Design and Markets - O. Tercieux / F. Koessler (common with the Master's programme APE)

Specialization and advanced courses

  • Stochastic calculus 2 (double) - B. De Meyer
  • Yield curve models - E. Koehler
  • Interdisciplinary finance - J. V. Andersen
  • Malliavin calculus and Monte Carlo methods - C. Chorro
  • Lévy processes - A. Popier (ENSTA)
  • Calibration and volatility - S. de Marco (ENSTA)
  • Econometrics of asset pricing models - F. Ielpo / C. Chorro (ENSTA)
  • Credit Risk - M. Jeanblanc / Y. Treguer (ENSTA)
  • Financial regulation - Conférenciers (ENSTA)
  • Market risk measures - O. Guéant
  • Statistical arbitrage - O. Guéant
  • Microeconomics of insurance - P. Gourdel
  • Convex analysis and optimization - B. Nazaret
  • Optimal control - J. Blot
  • Advanced combinatorial optimization - A. Skoda
  • An introduction to data sciences and big data - F. Rossi
  • Advanced decision and modelling - M. Grabisch
  • Cooperative game theory - M. Grabisch
  • Information and dynamics in games -  J. Abdou / X. Venel
  • Strategy-Choice-Politics - J. Abdou / E. Picavet
  • Growth models in economics - J.-P. Drugeon
  • Network theory and applications - A. Rusinowska / E. Tanimura
  • Information, finance and game theory - B. De Meyer
  • Equilibria, fixed-points and computations - P. Bich
  • Financial economics - B. Cornet
  • Sustainable management and natural resources - S. Zuber
  • Interdisciplinary finance  - J. V. Andersen