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MSc in Finance

The NUGSB Master of Science in Finance program (hereinafter – MSc in Finance) is a specialized, quantitative course of study for highly motivated individuals seeking a career in the field of finance. The MSc in Finance program will equip young professionals with the knowledge

Course description


1. Program Review: Regulations, Policies, and Procedures
2. Team and Community Building
3. Business Communication
4. Financial Software

Core 1. Statistical Methods
Core 2. Financial Accounting
Core 3. Financial Economics
Core 4. Principles of Finance
Core 5. Financial Markets and Institutions
Core 6. Investments I
Core 7. Financial Modeling
Core 8. Financial Econometrics
Core 9. Investments II
Core 10. Corporate Finance
Core 11. Empirical Asset Pricing
Core 12. Economic Policy in Global Markets
Core 13. Thesis Research Seminar


Students opt for three elective courses following successful completion of the core courses. The list of possible electives offered may change based on student interests and faculty availability.

Private Equity
Advanced Econometrics
Corporate Governance
Islamic Banking and Finance
Entrepreneurial Finance
Insurance/Actuarial Science


In order to link the academic learning to the challenges of real-life situations in financial institutions in the Republic of Kazakhstan, students will participate in a 2-week residency at the National Bank of the Republic of Kazakhstan in Almaty. A study program will be organized by the National Bank of Kazakhstan in which experts and managers of financial institutions and organizations, as well as representatives of the regulator of the financial markets will be actively involved.
Students will be required to complete assignments and present findings and recommendations to senior management during the residency with the National Bank and its affiliates. Also they will visit the head offices of these organizations to meet experts, hear presentations, observe work processes, and to help build their professional networks so that they can begin thinking about various career paths, elective course choices, thesis project ideas, and career opportunities they may pursue upon completion of the program.


In order to link the academic learning to the challenges of real-life situations in the international environment, students will undertake a 2-week trip to one of the global financial centers hosted by an international partner. Students will visit financial companies and events designed to help build practical knowledge and network. In addition to completion of one core course in the curriculum, a few practitioner classes will be delivered by finance professionals to equip the students with relevant tools and deeper insights that relate to their area of specialization.


Students must complete and submit an approved team project under the guidance of a faculty advisor, followed by an oral defense. Completion of the team project involves data collection and analysis, structuring the explanation of the analysis, and providing and defending a specific recommendation to address a clearly defined research problem.