Master in Quantitative Finance at University of Bologna
Two-year English-taught LM-16 R finance master in Bologna that applies advanced mathematical and statistical methods to financial market modelling, with open access and a double degree option. Entry needs a statistics or economics degree or 24 relevant credits, a 60/100 committee score and B2 English.
Master
2 years
Bologna
English
University of Bologna
Quantitative Finance is a two-year, 120 ECTS master's degree (class LM-16 R) taught in English at the University of Bologna in Bologna. Entry needs a statistics or economics degree, or 24 credits in maths, statistics, economics and business with at least 6 in statistics and 10 in maths, plus a committee score of 60/100 and English at B2. Fees follow family income, so it can be tuition-free for eligible students.
Entry requirements
Detailed entry requirements
Bologna's Quantitative Finance master asks for a three-year degree in statistics or economics, or any degree with at least 24 credits in maths, statistics, economics and business (including 6 in probability and statistics and 10 in maths), plus English at B2 and a committee score of at least 60/100. Reviewed 8 October 2026. [1]
Degree requirement
You need a three-year bachelor's degree, or a foreign qualification recognised as suitable under Italian rules that gives access to a similar master's in the country where it was issued. It must also meet one of two routes: [1]
- A statistics or economics degree: Statistics (L-41) or Economics (L-33), the older classes 37 (Statistics) and 28 (Economics), or a four-year degree in Economics and Business or Statistical Sciences.
- Any other degree with set credits: at least 24 ECTS in mathematics, probability, statistics, economics and business (sectors SECS-S/01 to 06, SECS-P/01, 02, 03, 05, 07, 08, 09 and 11, and MAT/02, 03 and 05 to 09). These must include at least 6 ECTS in probability and statistics (SECS-S/01 to 05, SECS-P/05 or MAT/06) and at least 10 ECTS in mathematics (SECS-S/06, MAT/02, 03, 05, 07, 08 or 09).
If you do not meet all the curricular requirements, you cannot register for the programme. [1] For foreign qualifications, the committee checks whether they correspond to an Italian qualification. [2]
What this means for your transcript
For a foreign degree, the committee checks your units against these Italian subject areas, so the content of your courses matters more than the degree title. As a guide, based on the rule above:
- Usually a fit: a BA or B.Sc. in Economics, or a B.Sc. in Statistics, Mathematics or Actuarial Science.
- Check carefully: a B.Tech, B.E. or B.Sc. in Physics or Computer Science, which usually covers the 10 maths credits but must also show 6 in probability and statistics and reach 24 in the listed areas. A B.Com or BBA usually has the economics and business credits but must show 10 credits in maths.
- Often short: a BA in the humanities, or a degree in life sciences, pharmacy or law without maths and statistics units.
The committee also scores how relevant your studies are, so a closer subject match helps your overall score. [1]
English
English at CEFR level B2 or higher, proven when you apply and declared on the programme's Form G. The notice accepts: [1]
- a certificate from the University of Bologna Language Centre or another university language centre
- TOEFL, ISE, IELTS, Cambridge English or Trinity College London certificates; IELTS Online and IELTS Academic Online are not accepted
- a B2 English exam in your bachelor's study plan
- the Oxford Online Placement Test with a result of at least B2
- a degree taught entirely in English
- native-speaker status
Certificates must be issued no more than three years before the application deadline. The notice does not list minimum scores, only the B2 level, and a declaration without supporting documents may be treated as incomplete. [1]
Committee score
There is no written entrance test. Access is open, with no cap on places, but a committee appointed by the Department of Statistical Sciences Paolo Fortunati scores your application out of 100: [1]
- Academic merit: the length of your degree, your marks, the credits you earned in different subject areas and your final mark, if you have one, up to 45 points.
- Relevance: how consistent your studies are with the programme, up to 50 points.
- English: up to 5 points, with B2 required.
You need at least 60/100. If you are not admitted in one intake, you cannot apply again in a later intake. [1]
2026/27 deadlines
- Intake 1 (EU, EU-equivalent and non-EU): 3 March to 31 March 2026 at 11:00 CET, results from 7 May 2026.
- Intake 2 (EU, EU-equivalent and non-EU): 1 April to 30 April 2026 at 11:00 CET, results from 4 June 2026.
- Intake 3 (EU and EU-equivalent only): 4 May to 30 June 2026 at 11:00 CET, results from 28 July 2026.
Matriculation ran from 22 July to 24 September 2026 and continues with a late-payment fee until 19 November 2026. You could apply before graduating, but the degree must be obtained by 31 December 2026, otherwise the matriculation is cancelled. The next notice sets the 2027/28 dates. [1]
Documents and non-EU steps
You apply on Studenti Online. The committee assesses only what is uploaded there, and missing or partly uploaded mandatory documents by the deadline lead to exclusion. Mandatory items are: [1]
- a valid identity document, or a passport if your ID has no English translation
- your foreign qualification translated into Italian or English, with the transcript of records and Diploma Supplement where available, or your transcript if you have not yet graduated
- proof of B2 English with Form G
- Form H, the declaration about your first application to the programme
- a CV in English on the programme's CV form
- details of the course units you have passed
A residence permit, if you hold one, is optional. [1][2]
Non-EU applicants living abroad must also pre-enrol on Universitaly and request a study visa. After admission you matriculate online, pay the first instalment, upload your qualification and visa, and show the original documents to the International Student Administration Office in Bologna, which checks your qualification's eligibility, authenticity and value. For 2026/27, careers had to be activated by 26 February 2027. [1]
Sources and verification
Checked by the ApplyAZ admissions team against the university's official documents listed below. Entry rules can change with each new call, and we re-check them before every application.
- University of Bologna, Department of Statistical Sciences Paolo Fortunati. Admission notice for the Second Cycle Degree Programme in Quantitative Finance (class LM-16, code 6692), academic year 2026/27, Italian text and English courtesy translation. Reviewed 8 October 2026.
- University of Bologna, Quantitative Finance programme website: overview and How to enrol page, academic year 2026/27. Reviewed 8 October 2026.
- University of Bologna. Tuition fees and exemptions, academic year 2026/27: fee calculation system, maximum contributions by programme and reduced fixed fee for citizens of non-OECD and developing countries. Reviewed 8 October 2026.
- University of Bologna. Teaching regulations of the Second Cycle Degree Programme in Quantitative Finance, undated. Reviewed 8 October 2026.
About the programme
Quantitative Finance is a two-year laurea magistrale in class LM-16 R, Finance, run by the Department of Statistical Sciences "Paolo Fortunati" (STAT) in Bologna. It is worth 120 ECTS, is delivered entirely in English and has open access, with no fixed number of places. Alberto Lanconelli is the degree programme director.
Its heading is "Quantitative analysis for modern finance". The degree applies advanced mathematical and statistical methods to understand and manage the complexity of global financial markets. It suits graduates with a strong quantitative background who want to work on the modelling side of finance.
What you will study
According to the university, the programme gives graduates specific technical and quantitative know-how applied to financial market modelling. Mathematics and statistics are the tools; global financial markets are the object of study. The course units for each year, with credits, teaching periods and exam dates, are published in the course structure diagram on the degree website. We check the 2027/28 diagram before you apply, since units can change between intakes.
How the programme is taught
Quantitative Finance is one of the university's international programmes and offers a double or multiple degree option, in which selected students also earn a degree from a partner university. [2] All teaching is in English, and the final exam is an original thesis written in English and discussed in public. [4] For 2026/27 the university announced that the first three weeks of international courses would be held in mixed mode, to accommodate students whose residence permits were delayed.
Career paths
The degree's focus on financial market modelling prepares graduates for quantitative roles where mathematical and statistical methods are used to understand and manage financial markets. Graduates can also continue to a PhD. The university's job placement service and the degree website publish internships, job offers and careers events.
Fees and scholarships
Quantitative Finance is in the university's higher fee band, and fees follow family income (ISEE). With a family ISEE of €27,000 or less you pay only the fixed part, so this programme can be tuition-free for eligible students. [3] Income from abroad is declared through ER.GO, the regional body that also awards scholarships. Non-OECD citizens with income only abroad, from countries like India for example, can opt for a reduced flat fee instead. [3]
How to apply from outside the EU
For 2026/27, non-EU applicants could apply in intake 1, which closed on 31 March 2026, or intake 2, which closed on 30 April 2026, both at 11:00 CET; intake 3 was reserved for EU and EU-equivalent candidates. Applicants not admitted in one intake could not reapply in a later one. We apply on Studenti Online, and open access means there is no cap on places. The 2027/28 notice sets the next dates. [1]
Non-EU applicants living abroad also pre-enrol on Universitaly, which the university validates, and request a study visa, which needs proof of financial means. After admission you matriculate online and pay the first instalment, and we upload your translated degree certificate and transcript, whose authenticity and value the university checks where required. For 2026/27, careers had to be activated by 26 February 2027. [1][2]
How ApplyAZ helps
ApplyAZ is an Italy-based consultancy that works only with public universities. We can include this programme in a shortlist of 20 to 30 English-taught programmes that fit your profile, so your plan never rests on a single application.
For eligible students who start with us, a named person owns each stage, from A to Z:
- We check your transcript against Bologna's entry rules for this programme.
- We write your CV and a tailored statement of purpose.
- We prepare and submit your Studenti Online application with your transcript, course details, Forms G and H and CV form, and Universitaly pre-enrolment.
- We help you declare your family income for reduced fees and file your ER.GO Emilia-Romagna scholarship application at the right time and in the right format.
- We prepare your visa file.
With operations in all 20 Italian regions, we follow each region's scholarship rules and deadlines as they change. The university decides admission, the region decides the scholarship and the consulate decides the visa, so no one can promise an outcome. You pay in milestones, and every service you pay for is either delivered or its fee is refunded (terms apply).
Programmes at Italian public universities can be tuition-free for eligible students. Check if you are eligible and book a one-to-one consultation session with one of our Italy experts, or see how ApplyAZ works.
Questions and answers
What bachelor's degree do I need for Bologna's Quantitative Finance master?
A three-year degree in statistics (L-41) or economics (L-33), or any three-year degree with at least 24 credits in maths, probability, statistics, economics and business, including at least 6 in probability and statistics and at least 10 in maths. For foreign degrees, the committee checks equivalence. [1][2]
Is there an entrance exam?
No written test. A committee scores your application out of 100: up to 45 points for academic merit, up to 50 for how relevant your studies are and up to 5 for English. You need at least 60, and you cannot reapply in a later intake if you are not admitted. [1]
What English level is required? Do I need IELTS?
English at CEFR B2. IELTS, TOEFL, Cambridge, Trinity and ISE certificates are accepted if issued within three years of the deadline, but IELTS Online is not. A B2 exam in your bachelor's, a degree taught in English or the Oxford placement test at B2 also count. [1]
When is the deadline for non-EU students?
For 2026/27, non-EU applicants could use intake 1, which closed on 31 March 2026, or intake 2, which closed on 30 April 2026, both at 11:00 CET. Intake 3 was for EU and EU-equivalent candidates only. The 2027/28 dates are not yet published. [1]
Can I apply before I graduate?
Yes. For 2026/27 you could apply and enrol before graduating, but the degree had to be obtained by 31 December 2026, otherwise the matriculation is cancelled. [1]
I have a B.Tech or a B.Com. Can I apply?
Possibly, through the credit route: at least 24 credits in maths, statistics, economics or business, with 6 in probability and statistics and 10 in maths. A B.Tech usually covers the maths but must show the statistics, and a B.Com often has the economics but must show enough maths. We check your transcript against this rule. [1]
How do the fees work?
Fees follow family income (ISEE). With a family ISEE up to €27,000 you pay only the fixed part, so this programme can be tuition-free for eligible students. Non-OECD citizens whose family income and assets are only abroad can choose a reduced flat fee instead. [3]
Is there a double degree?
Yes. The degree is listed with a double or multiple degree option, through which selected students also earn a degree from a partner university. We check the partners and selection rules for you. [2]
Can someone handle my whole application to Quantitative Finance at Bologna?
Yes. ApplyAZ, an Italy-based consultancy that works only with public universities, checks your transcript against Bologna's rules for this programme, handles the application and Universitaly pre-enrolment, helps you file the ER.GO Emilia-Romagna scholarship application at the right time and in the right format, and prepares your visa file, for eligible students. Start by checking your eligibility.
I'm applying from India. What is the route into Quantitative Finance?
An Indian BA or B.Sc. in Economics, Statistics or Mathematics usually sits closest to the rule. Other degrees need at least 24 credits in maths, statistics, economics or business, with 6 in probability and statistics and 10 in maths, and you also need English at B2. The steps are the Studenti Online application in intake 1 or 2, the committee's scoring and Universitaly pre-enrolment. [1] Indian students apply for the type D study visa at the Italian embassy or consulate that covers their state, such as New Delhi, Mumbai or Bengaluru.
Is the route different from Pakistan, Bangladesh or Sri Lanka?
No. The academic rules for Quantitative Finance are the same whatever your nationality. Applicants from Pakistan, Bangladesh and Sri Lanka follow the same steps as India: Studenti Online application in intake 1 or 2, the committee's scoring and Universitaly pre-enrolment, then a type D study visa from the Italian mission for their country of residence. Read our guide for students in Dhaka.
I live in the UAE, Saudi Arabia, Qatar, Kuwait, Oman or Bahrain. Where do I apply for the visa?
At the Italian embassy or consulate responsible for the country where you legally live, after Universitaly pre-enrolment. The academic rules for Quantitative Finance are the same whatever your nationality, and Gulf residents follow the same steps: Studenti Online application in intake 1 or 2, the committee's scoring and Universitaly pre-enrolment. Read our guides for Dubai, Riyadh and Doha.
I studied or live in London, New York, Toronto, Vancouver, Singapore or Kuala Lumpur. What is the route?
The academic rules for Quantitative Finance are the same whatever your nationality, and your degree is assessed like any other foreign qualification. Non-EU applicants who live abroad follow the same route: Studenti Online application in intake 1 or 2, the committee's scoring and Universitaly pre-enrolment, then a type D study visa from the Italian mission for where they live. Read our guides for students in London, New York, Toronto, Vancouver, Singapore and Kuala Lumpur.
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