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Student experiences
Stochastics and Financial Mathematics
Student experiences
 "During my Master‘s studies in Prague I focused on stochastic modeling of interest rates, which is why the programme Stochastics and Financial Mathematics sparkled my interest. The short track version of the programme offered by the Vrije Universiteit Amsterdam was especially attractive for me, as it allowed me to use the erudition I had already gained to develop modern specialisations in my field of interest.
The unique thing about the programme is that it unites lectures offered by four science faculties, each of them belonging to a Dutch university ranked within top 200 universities in the world. The very personal approach of the teachers without any formal hierarchy ensures that you build close relationships with them and you will find assistance in your day-to-day issues, whether you struggle with administrative technicalities or you are looking for supplementary literature. The true student life experience is then completed with the inspiring athmosphere of Amsterdam, famous for its numerous study associations, extensive cultural and sports opportunities, and the welcoming nature towards international community. If you decide to stay after your studies, you can expect a broad range of career opportunities. Daniel Krýcha, Czech Republic |
 "I decided to apply for the programme in Stochastics and Financial Mathematics at VU University Amsterdam based on enthusiastic recommendations by the faculty of Charles University in Prague, where I finished my undergraduate studies. This programme offers a wide variety of courses oriented both theoretically and practically, so everyone can easily find the optimal balance acoording to their intellectual needs.
Stochastics is a fascinating field, which can be applied in many areas of human interests. Since I personally am not a big fan of finance, I really appreciate that the programme allows focusing not only on financial mathematics but also on important applications of stochastics in several life sciences, like in genetics or forensic science. To sum up: what I really like about this particular programme is the common friendly atmosphere and individual approach of all the lecturers to each student. Such working environment is highly motivating and consequently leads to great achievements and personal satisfaction." Michal Horný, Czech Republic |
 “During the academic year of 2008/09 I was a Short Track Master student in Stochastics and Financial Mathematics. Before that I had studied Mathematics at University of Warsaw. I was mostly interested in probability theory and its applications, that is why I chose this programme at VU University Amsterdam. It offers a wide range of subjects, both theoretical as well as more practical ones. Since I already had an academic background, I focused on applications, for example in genetics, queuing systems or simulation methods.
For me, as an international student, studying in Amsterdam was very interesting not only for academic reasons. I could experience life in a multicultural environment and I met many people from different parts of the world. In addition, the city of Amsterdam is certainly a great attraction itself. I can say that I fully enjoyed this one year at VU University Amsterdam.” Anna Aksamit, Poland |
 “The short track Master’s programme Stochastic and Financial Mathematics was a great opportunity for me. After I finished my first year of master studies in Econometrics at my home university in Czech Republic, I decided to take the chance and study at the VU University Amsterdam.
The programme itself is perfectly organized and of a high quality. One can choose from a huge variety of stochastics classes, ranging from basic theory of mathematical statistics and probability to much more advanced and interesting classes from the field of mathematical finance. I decided to focus on the financial classes, as the stochastic modeling in finance is of rising importance in the business world. Modeling and forecasting of interest rates, stock prices, pricing of financial derivatives etc. became the main topic of risk management in banks. And a highly qualified quant analyst is the one for such a job.” Lenka Slamova, Czech Republic |
 “After finishing my bachelor programme in general mathematics at Charles University in Prague, I was looking for possibilities to study abroad. My first try was an Erasmus programme, but I found out that our home university has a short-track agreement with VU University Amsterdam. Getting a master degree in one year in Amsterdam was the better option.
Another great advantage for me was the specialization of the programme. During my studies in Prague I worked in a company developing bank systems and I saw how important mathematics and in particular stochastic processes are in the field of finance. Hence, the programme in stochastic and financial mathematics was an obvious choice. The programme is well structured and offers many interesting (and applicable) courses. It starts with simple basics, but in advanced courses it goes beyond the theory which is usually used in practice. Hence the graduates of the programme are well prepared for a career in banks or financial institutions. I liked the programme and field of stochastic finance so much, that I continued with a PhD programme.” Tomas Marada, Czech Republic |
 “After obtaining my Bachelor's degree in Mathematics from VU University Amsterdam, I opted for the Master's in Stochastics and Financial Mathematics because I wanted to move into finance: shares, indices, prices, options and so on. Stochastics and Financial Mathematics is a well-structured programme; you learn the theory first – the formulas and background – and only later apply that knowledge in practice.
The advantage of this programme is its small scale. You have a lot of contact with your fellow students, and with tutors who provide great supervision during your studies. And the advantage of VU University Amsterdam itself is that all the courses are grouped together on one campus. That means that you can choose subjects from other courses, like Economics or Business Mathematics and Informatics, without having to travel to study them. After my graduation in 2007 I started working as a Risk Manager for Fortis Bank Nederland Clearing and Custody. This means I’m responsible for the model which is used for calculating the market risk of client portfolios. Due to changing market conditions we constantly have to update our model in order to improve the service towards our clients. Whenever one of our clients decides to trade in a new product, we have to come up with the correct theoretical valuation model which computes realistic risk numbers. It took me about half a year to get acquainted to the language of banking but the knowledge obtained during my studies helped me along the road.” Rick Duursma, the Netherlands |
