Master in Financial Markets

The 2025-2026 version of the M2 Financial Markets programme offers a module in 'Derivative Pricing and Stochastic calculus II' with Julienne Claise. This module focuses on the theory of derivative asset pricing and the main models and techniques used in practice. The curriculum includes both discrete and continuous time models, covering topics such as arbitrage pricing, hedging strategies, and the valuation of various types of options, from simple vanilla options to more complex barrier and American options. The course also covers specific volatility models such as Heston, CEV, and SABR, ensuring students gain a deep understanding of the practical applications of financial mathematics.

The curriculum is enriched by a strong emphasis on risk management, with courses like 'Risk Management' taught by Arnaud Angelo and Laurent Dahan. This course delves into practical risk management techniques, including the computation of Greeks, Value-at-Risk (VaR), and stress testing, which are crucial for understanding market tail events and counterparty risk. An additional focus is the mathematical framework of market risk measures, including empirical observations and sophisticated models to address market risks.

Paris Dauphine University, part of the PSL research cluster, is a distinguished public institution in the heart of Paris specializing in management, economics, mathematics, law and the social sciences. Founded in 1968, the university is known for intellectually rigorous programs that combine theoretical foundations with practical relevance, preparing students for leadership roles in business, public policy and research.

Small, focused cohorts and close faculty interaction create an intensive learning environment where students benefit from applied coursework, case-based teaching and connections to Paris’s vibrant professional ecosystem. Research centers and interdisciplinary initiatives strengthen academic inquiry while partnerships with industry and international institutions expand internship and exchange opportunities for undergraduate and postgraduate students.

Located in one of the world’s leading capitals for culture and business, Paris Dauphine offers ample extra‑curricular and networking opportunities that complement classroom learning. International students can take advantage of career services, language support and an international community, making the university an attractive choice for those seeking a high-quality, research-informed education in Europe with direct access to internships, consulting projects and global employers.