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The main goal of this master is to afford graduate students to be endowed with the prerequisite tools to successfully conduct research and get involved to deal with changes in the domains of banking, finance, insurance, computerized finance, and the most recent techniques of risk management. This master takes into account the new banking system and standards. Furthermore, it constitutes a leading starting-point for the graduates to master the job of a Trader, Financial Analysts, Risk Manager, etc.

The specific goals basically center at a pivotal training to become a teacher and a researcher in the major sub-fields of economics, such as finance, management, insurance, and accounting. As a matter of course, teaching undergraduate levels is the natural “roadmap” to obtain a Ph.D. thesis.

It is noticeable that the whole courses encompassed in the curricula include practical cases and computer-based real-world financial applications. In addition, the courses can also be pursued through the most recent e-learning tools.

This Master allows the graduate students to be involved in the research domain within national and international Universities around the world. Alongside with this fact, the Master allows the graduate students to integrate the professional world and thus in banks, insurances, and large companies by occupying key posts such as financial analysis and risk management.

In fact, Finance is making headway with an extremely high speed, particularly in the risk management tools and methods, which pushes the professionals to adapt their methods to the new developments. That is, the recruitments in the field do not dissociate strikingly between research-based diploma and professional ones. The GRFA Master may even be considered as pivotal for many years to come since it endows the students with all what they need to solve most complicated problems in finance, insurance, and risk management (in theory and practice).

The people who may get interested in the Master are those who already have a B.A. (finance economics, accounting, marketing, etc.) or an engineering diploma. Further, scientific diploma's holders (physics, mathematics) can also take part of this Master.

From the beginning of October until March of the same academic year. The graduates can pursue the courses in their curricula over three days a week. In the main, these three days are the last days in the week.

It starts from mid-April until the end of May. As in the first session, the courses take place three days a week.

This session is devoted to the conduction of a research program. Indeed, every postgraduate student tackles a particular problem in finance, insurance, or risk management. Each student will certainly be supervised by a senior supervisor and many other teaching assistants.

Performing an in-depth analysis of return, risk, and profitability using financial ratios. This course helps the postgraduate student to assess the firm's financial situation by focusing on its financial structure as well as on its profitability. It is a highly appreciated preparation for the job of financial analyst, listing sponsor, among others.

This course mainly covers topics linked to portfolio selection and optimization, CAPM, APT, and the major extensions of CAPM-type models, like Fisher's zero-beta model. It also includes the practice of picking up portfolios and the selection of securities.

The economics of insurance and risk is studied through the exposition of the devices ling behind the free working of markets for insurance. Further, the analysis is enhanced by the addition of the optional theory and its modern techniques that are applied in settling classic insurance contracts. Risk is a major component of the whole course.

The aim of this course is elucidating the extent to which the relationship between pricing and the market's structure helps to understand the impact of authorities' role in driving the efficiency of marketplaces. Furthermore, the course sheds some light on the basics for the analysis of insurance markets.

This course aims at giving the postgraduates the benchmark insights of the quantitative methods. Its primary objective is guiding them from the simplest methods to the most complicated ones. That is, the course will start with the standard OLS model to end with the most recent techniques that used in financial econometrics. In addition, the econometric methods are applied using statistical packages.

Modeling financial time series is the foremost objective of this course. The modeling is an important tool used by econometricians to predict prices, markets volatility, testing models, estimating trends, etc. The major topics that are tackled in this course are chiefly ARMA model (and its extensions), conditional heteroskedasticity models (ARCH and all the extensions), etc.

Subjects related to Information Technology (IT) and its economic and financial consequences are treated. In addition, other problems are dealt with such as knowledge management.

This course introduces to Monte Carlo simulation methods and their applications in economics and finance. This course requires some basic knowledge in Excel, MATLAB codes, and basic probability theory.

In this course, many tools of modern corporate finance theory are applied numerically. Indeed, methods like Discounted Cash-Flow, Economic Valued Added, Weighted Average Cost of Capital, Value Creation, … Other aspects of corporate finance theory are also dealt with, such as investment and financing decisions (real options theory).

Using VaR (Value at Risk), Portfolio choice, and Basle II requirements. Much of the methods used here require some numerical simulations.

Portfolio models, optional models (plain vanilla and exotic options), numerical simulations, etc.

The topics are, inter alia, dividends policy, valuation of firms in new economy (i.e., information economy), methods for valuations of firms on the basis of markets comparison. DCF valuation methods. Applying option theory to corporate valuation through the application of real option theory to assess equity and debt values.

Studying the wide range of risks and the methods used to quantify them. This range encompasses interest rates risk, equity risk, currency risk, etc. Additionally, the course covers the financial techniques used to alleviate those risks, such as forwards, futures, swaps, options. This course is an ineluctable introduction to master the portfolio management within national or international corporations.

This course presents complicated extensions of the familiar ARMA, ARIMA, ARCH, GARCH, VAR (Vector Autoregression) and their empirical counterparts.

This course extends the basic financial methods used to valuate debts, venture's values, etc, through the application of new techniques using practical cases.

Studying historical data, estimation and forecasting techniques and their applications in insurance. Methods like VAR will be used to figure out economic relationships between variables through time and the response of one variable to shocks in other variables.

In this course, the choice of the financing method and the investment decisions will be studied. The decision-making is based on expected return and risk (NPV, net present value). Other aspects are highlighted such as performing a financial plan, the equity financing cost and the comparison to the opportunity cost.

The importance of this course is the same as the aforementioned ones. Indeed, it guides the students to master the technical languages used by financial analysts in marketplaces through the discussion of modern texts dealing with recent topics (in a journalistic manner)