The training program is targeted at in-depth professional training of specialists in the field, within applied research
In-depth research training, teaching activities within the needs of continuing studies in doctoral programs
7M04101 - "Finance" (research and pedagogical direction) is developed for training personnel for the system of higher, postgraduate education and scientific sphere, who possess profound research and pedagogical training in the field of finance.
7M04102 - “Finance” (profile direction)is designed for training personnel for the sectors of the economy, finance and business with in-depth professional training.
The goal of the training program:
7M04101 - "Finance" (research and pedagogical direction) is to train highly qualified specialists with critical and analytical thinking, in-depth knowledge in the field of financial economics, econometrics, financial analysis and risk management, who are able to predict and model financial processes, attract investments and manage assets.
7M04102 - “Finance” (profile direction) is to train highly qualified specialists with fundamental economic training, critical and analytical thinking, skills of in-depth financial analysis and risk management, who understand the processes taking place in the financial market, who are able to apply modern theory, economic models and econometric methods to solve problems of the national economy.
The relevance of the training program 7M04101 - "Finance" (research and pedagogical direction) is to implement a new approach to the formation of key competencies and learning outcomes needed by a graduate in the field of economic sciences; 7M04102 - “Finance” (profile direction) is to implement a new approach to the formation of key competencies and learning outcomes that a graduate needs in business and management.
The training program 7M04101 (02) - "Finance" is developed on the basis of the competency-based model of specialist training, which meets the needs of the labor market and requirements of employers. This model is a description of key competencies of graduates, their level of preparedness and willingness to perform specific professional functions.
The advantages of this training program are a wide selection of places for employment, well-paid, stable work, good career opportunities, as well as the possibility of implementing individual entrepreneurial activity and business.
| EP code | Annual tuition fee | Cost per 1 ECTS credit | Number of ECTS credits to be mastered | 7M04101 | 390 000 tenge | 6 500 tenge | 60 | 7M04102 | 390 000 tenge | 6 500 tenge | 60 |
7M04101 - "Finance" (research and pedagogical direction) are:
Profound theoretical and practical training in the chosen direction of science and pedagogical activity;
Training of specialists with a high level of professional culture, including the culture of professional communication, having a civil position, able to formulate and solve contemporary research and practical problems; teach at universities, successfully carry out organizational and managerial, economic, research, design and educational activities; obtaining the necessary minimum knowledge in the field of university pedagogy and psychology and teaching experience at the university
Development of creative potential, initiative and innovation, competitiveness of masters in the labor market, providing an opportunity for the best employment in a specialty;
Developing students' ability to self-improvement and self-development, needs and skills of independent creative mastery of new knowledge throughout their active life.
7M04102 - “Finance” (profile direction) are:
The ability to self-improvement and self-development, skills of independent creative mastery of new knowledge throughout all active life;
Training specialists with a high level of professional culture;
Acquisition of skills in organizing and conducting research;
Developing creative potential, initiative and innovation, competitiveness of masters in the labor market, providing an opportunity for the best employment in a specialty;
Developing students' ability to self-improvement and self-development, needs and skills of independent creative mastery of new knowledge throughout their active life.
Employment programs by organizing professional practice.
7M04101 – "Finance" (research and pedagogical direction):
TThe ability to demonstrate knowledge in the field of history and philosophy of science, to know the basic concepts of philosophy of science, methods and techniques of logical analysis;
Ability to demonstrate knowledge in the field of higher school didactics, skills of conducting classes in higher school;
Ability to demonstrate knowledge in the field of psychology of the subject of managerial activity, as well as skills and abilities of managerial activity;
The ability to integrate into the international professional environment and use a professional foreign language as a means of intercultural, scientific and professional communication;
The ability to apply innovative technologies, methods of modern analysis of economic processes in setting and solving economic problems and analyzing micro-macroeconomic indicators, apply modern communication and information technologies, carry out professional and research activities;
The ability to understand the current state of the economic, political, legal and technological environment of the global business partnership, to know international financial markets and instruments;
Ability to create new values, make creative decisions, tolerance; to cooperate with other enterprises and organizations at the international level;
The ability to apply knowledge in solving problems in new or unfamiliar situations in contexts and within broader (or interdisciplinary) areas related to finance, monetary sphere, analyze trends in the international financial market conjuncture, demonstrate knowledge and understanding that are the basis or opportunity for the original development and application of ideas in the field of finance;
The ability to be able to develop curricula for teaching financial disciplines in higher educational institutions, educational and methodological materials to ensure the process of teaching financial disciplines, to use modern educational technologies in the teaching process;
The ability to analyze the main ideological and methodological problems, including interdisciplinary ones, studied in science at the present stage of its development, and use the results in professional activity, the ability to expand and deepen the knowledge necessary for everyday professional activity and continuing education in doctoral studies.
7M04102 – "Finance" (profile direction):
The ability to analyze organizational management structures; to carry out work to motivate the work of personnel; to apply business and managerial communication techniques in professional activities; to take into account the peculiarities of management in the field of professional activity;
Ability to demonstrate knowledge in the field of psychology of the subject of managerial activity, as well as skills and abilities of managerial activity;
The ability to integrate into the international professional environment and use a professional foreign language as a means of intercultural, scientific and professional communication;
The ability to make managerial decisions, assess their possible consequences and bear responsibility for them; the ability to analyze, evaluate the completeness of information in the course of professional activity, if necessary, to fill in and synthesize missing information;
The ability to identify and analyze cause-and-effect relationships in the field of financial relationships, the ability to abstract thinking, analysis, synthesis of financial markets;
Master the methods of financial analysis, be able to justify the decisions made and implemented in the field of finance theory, advanced financial and banking management, financial market and IFRS, be ready to apply the results in practice;
Ability to demonstrate modern knowledge and understanding in the field of financial and credit, insurance, tax, budgetary, investment relations;
The ability to plan and conduct applied research in the field of finance and credit; the ability to operate modern financial instruments and assess their value to manage the portfolio of assets and liabilities of the company;
The ability to evaluate the proposed Islamic and other financial products and contracts;
The ability to form business and scientific communications in the professional sphere and multilingual environment; the ability to independently master new research methods, change the scientific and scientific-industrial profile of their activities;
Ability to have an understanding of the issues of the organization of international financial reporting and auditing standards.
Analytical;
Production and management;
Organizational and management;
Research (scientific and pedagogical direction);
Pedagogical (research and pedagogical direction);
Experimental research (profile direction).
A graduate of the training program 7m04101 - “finance” (research and pedagogical direction) has employment opportunities in such organizations and institutions as: research, design organizations (as scientific employees, chief specialist, design engineer, head of department), domestic and international business structures, consulting and financial companies, organizations of the real and state sectors of the economy (as financial director, director of the retail creation department director of the department of banking risks, senior tax consultant, pr specialist, field sales supervisor (supervisor in a large foreign company), it financial manager), technical and vocational education, universities;
A graduate of the training program 7M04102 - “Finance” (profile area) has employment opportunities in such organizations and institutions as: national and international business structures, consulting and financial companies, organizations of the real and state sectors of the economy (as financial director, director of the Department retail lending, director of the Banking Risk Department, Senior Tax Consultant, PR specialist, Field Sales Supervisor (Supervisor in a large foreign company), financial IT, investment or financial consultant, sales engineer, a financial manager, consultant in organization of the IPO and the issue of bonds, the portfolio manager, financial analyst, risk manager, auditor).
Acquisition of methods of analysis and management of financial and business risks, the cost and structure of capital, methods of managing financing of current activities at an enterprise
Financial management for asset valuation, working capital management, financing decisions, dividend policy and capital structure
Competence in the field of statistical modeling of economic problems, analysis of economic phenomena and processes applying standard theoretical and econometric models
Ability to choose ways to improve functioning of financial and credit system with application of fiscal measures and monetary policy
Management and research of information to assess results and effectiveness of financial activities of companies of various legal forms
Research and methodological training to integrate technology and translation of experience to enhance students’ cognitive activity
Bokusheva SvetlanaFinance accountant with experience in managing the financial and credit department, chief accountant and deputy director of the regional branch of the second-tier banks
Abdijapparov AidarMaster, Sales Manager at Al Hilal Bank
Kenzhebekov NurbolFinancial Analyst, Head of the Large and Medium-Sized Business Lending Sector JSC "Bank Centercredit"
Kumarbekov Diaz Business Analyst, Financial Advisor, Graduated from KBTU, Almaty, BSc Economics, University of Essex, Colchester, England, MSc Applied Economics and Data Analysis
JSC "Insurance Company" Centras Insurance"
JSC "Freedom Finance"
JSC "Kaspi bank"
JSC "Tsesnabank"
JSC "People's Bank of Kazakhstan"
JSC "IC" Eurasia"
Microfinance Organization "KMF"
JSC "Housing Construction Savings Bank of Kazakhstan"
Department of State Revenues for the City of Shymkent
JSC "Eurasian Bank"
Banks
Leasing companies
Mortgage Companies
Pension funds
Pawnshops
Microcredit organizations
Insurance companies
Government bodies
Universities
Research institutes
Financial Manager — from 150 000 to 200 000 KZT
Investment or financial advisor — from 150 000 to 200 000 KZT
Financial analyst — from 210 000 to 250 000 KZT
Risk manager — from 210 000 to 250 000 KZT
Auditor — from 210 000 to 250 000 KZT
CFO — from 300 000 KZT
| Name of disciplines | Cycle of disciplines | ECTS | Brief description of the disciplines |
| History and Philosophy of Science | BD | 3 | Questions studied: the subject and basic concepts of modern philosophy of science; science in the culture of modern civilization; the emergence of science and the main stages of its historical evolution; the structure of scientific knowledge; the dynamics of science as a process of generating new knowledge; scientific traditions and scientific revolutions, historical types of scientific rationality; features of the modern stage of science development; prospects of scientific progress; science as a social institution; natural sciences in the structure of modern scientific knowledge; history of pedagogical science. Formed competencies: knowledge of the main features of science as a special type of knowledge, activity and social institution; knowledge of the main historical stages of the development of science and the variety of scientific method; ability to navigate the main ideological and methodological problems arising at the present stage of the development of science; possession of the terminological apparatus of the philosophy of science; possession of methods and techniques of logical analysis. |
| International Economy | BD | 5 | Topics studied: international accounting; risk sharing and business cycles; international monetary economy; risk sharing and incomplete markets; exchange rates and international investments; global capital market; public debt and sovereign risk; financial stability; macro/microprudential policy. Formed competencies: mastering the skills to analyze and use models for determining and trading the exchange rate, models of international flows and investment decisions. |
| Foreign language (professional) | BD | 3 | The questions studied are: grammatical material, special vocabulary, terminological material; educational material corresponding to the main disciplines of the specialty; reading, speaking, listening and writing in the professional sphere. Formed competencies: mastering the skills of intercultural and communicative competencies of students; integration into the international professional environment; the use of a professional foreign language as a means of intercultural, scientific and professional communication. |
| Pedagogy in Higher Education | BD | 5 | The issues studied are: higher school pedagogy as a science, its methodological foundations; general theoretical foundations of higher school didactics; professional and communicative competence of a higher school teacher; driving forces and principles of teaching in higher school; the content of higher education; modern educational technologies in higher school; higher school as a social institution of education and personality formation; the essence of education in higher school. Formed competencies: knowledge of the basics of teaching in higher school; forms, methods, educational technologies and specifics of professional and pedagogical activity of a university teacher; knowledge of forms and methods of conducting classes in higher school. |
| Psychology of Management | BD | 5 | Issues under study: psychology of management in the system of scientific knowledge; basic approaches to the study of the management system; individual professional concept of the head; managerial interaction and decision-making process as an aspect of managerial activity; psychological features of the implementation of the main managerial functions; psychology of the subject of managerial activity; psychology of individual management styles. Formed competencies: knowledge of the psychological content of managerial activity, the individual managerial concept of the head, the theoretical foundations of managerial interaction, the psychological features of the implementation of the main managerial functions, the psychology of the subject of managerial activity; knowledge of the methods of psychological research in the field of managerial activity and interaction. |
| Pedagogical Practice | BD | 4 | Familiarity with the specific conditions of professional pedagogical activity. Formation of professional skills and acquisition of experience in professional pedagogical activity; mastering the basics of pedagogical skills; strengthening motivation for pedagogical creativity in higher education. |
| Research Practics | PD | 16 | The purpose of research practice is to deepen and consolidate the knowledge, skills and abilities acquired during the development of professional training disciplines by focusing on the main areas of scientific research. |
| Design and Protection of the Master's Thesis | Additional cycle of disciplines | 12 | The purpose of the preparation and defense of the master's thesis is to achieve the necessary knowledge, skills and abilities in the organization and conduct of research work |
| Financial economics | PD | 5 | Topics studied: the role of innovation; mathematical methods and computer technologies in the financial economy; financial crises; exotic options; structured products; hybrid securities; banking; risk management, assets; credit derivatives, bonds, insurance problems; company valuation, M&A; attracting venture capital. Formed competencies: mastering the skills of independent research of events in the financial markets and their impact on the economy. |
| Evaluation of companies in mergers and acquisitions | PD | 4 | Issues studied: principles of investment banking; typical types of activities performed by investment banks (sales and trade, research, mergers and acquisitions, lending and deposits); bank capital and risk; review of accounting and analysis of financial statements; valuation methods; investment banking process. Formed competencies: mastering the skills of controlling the correctness of the preparation and execution of financial statements in accordance with IFRS for the preparation of valuation models. |
| Modern banking services and Islamic banking | PD | 5 | The issues studied are: the economic content of the market of modern banking services; the life cycle of new banking services; remote service system services and their risks; adaptive opportunities for using Islamic banking products; attracting financial resources through the development of Islamic banking. Emerging competencies: demonstrating the ability to manage assets by analyzing and using the potential of Islamic banking in solving urgent problems of economic development. |
| Microeconomics (advanced level) | BD | 5 | The issues studied are: the theory of consumer and producer behavior in conditions of certainty; consumer analysis in conditions of uncertainty; the market mechanism of economic regulation; the elasticity of supply and demand; the effect of taxes; the theory of consumer behavior; comparative statics of demand and its analysis; the behavior of a firm in conditions of perfect competition. Formed competencies: skills of applying microeconomic analysis; skills of building microeconomic models, interpreting and using the results obtained. |
| Macroeconomics (advanced level) | BD | 5 | The issues studied are: the equilibrium of the commodity market; the impact of fiscal and monetary policy instruments; macroeconomic equilibrium and policy in a closed and open economy; conditions for full market adjustment, violations of the mechanism; aggregate supply and demand at flexible prices; the positive slope of SRAS; problems of conducting macroeconomic demand policy, neoclassical growth models. Formed competencies: mastering the skills of macroeconomic modeling |
| Financial econometrics | BD | 5 | Issues under study: statistical characteristics of financial data; classical linear regression model; predictability of returns in financial markets; volatility estimation models; asset pricing models; modeling of multidimensional time series. Formed competencies: mastering the skills of asset management by applying the methodology of financial and econometric research; skills of choosing an adequate econometric model; skills of data analysis using econometric software; interpretation of the results obtained. |
| Forecasting in Economics and Finance | BD | 5 | Issues under study: sources of economic and financial data and external forecasts; data collection and preparation, deviations, seasonal regulation, measures of forecasting efficiency; econometrics models; vector autoregression; Bayesian vector autoregression; machine learning techniques; forecasting scenario consequences of forecasts for policy. Formed competencies: formation of financial forecasting skills through econometric modeling and interpretation of results. |
| Theories of international trade and development | BD | 5 | Issues studied: trade theory based on the comparative advantages of countries; trade theory with monopolistic competition; offshoring theory; multinational corporations; the influence of international ethnic networks on trade; the influence of trade on the hostility of countries. Emerging competencies: skills in identifying factors that stimulate international trade and inequality; skills in data analysis in trade and development. |
| Direct investment and venture capital | PD | 5 | Issues studied: direct investment; organization of a PE fund; selection of projects and entry strategies; evaluation of PE and VC investments; return of funds, structuring of PE transactions; increasing the value of portfolio company management, withdrawal of PE assets. Formed competencies: mastering asset management skills by analyzing the effectiveness of PE and VC, selecting transactions, evaluating PE investments, structuring PE transactions. |
| Debt financial instruments | PD | 5 | Subjects studied: short-term and long-term debt financial instruments; exchange-traded, over-the-counter derivatives; review of bond instruments, valuation of fixed-income securities; risks associated with investing in bonds; science of the structure of term interest rate models; evaluation of derivative interest rates. Emerging competencies: mastering the skills of risk assessment by analyzing pricing methods and trading strategies for derivative products. |
| Investment analysis (advanced level) | PD | 3 | Issues under study: application evaluation, dividend discount model; application of free cash flows; multiplication methods; residual value of venture capital; financial modeling/ forecasting; credit analysis; analysis of financial statements of the bank; financial model of the bank; screening of investment ideas in banks. Formed competencies: mastering the skills of asset management by building a basic integrated model for evaluating the company, performing a credit analysis of the company. |
| Research work of a master's student, including passing an internship and completing a master's thesis [IF] | Additional cycle of disciplines | 8 | The research work of a master's student, including the implementation of a master's thesis, carried out without interrupting theoretical training, is to prepare a master's student for independent research work, the main result of which is the writing and successful defense of a master's thesis. |
| Advanced methods in business research | PD | 5 | Issues studied: economic modeling of marketing research; strategic management; personnel management: clustering and factor analysis, parametric and nonparametric methods, endogeneity and approaches to achieve consistency; structural models, panel data analysis. Formed competencies: skills of applying advanced business research methods, interpreting the results of evaluation and analysis, presenting the results to scientists and business. |
| Options, futures and other derivative financial instruments | PD | 6 | Subjects studied: derivative financial instruments; financial engineering; the use of methods of probability theory and financial mathematics; classical exchange and over-the-counter FIUs (forward, futures, swap); trading strategies using options; FIU applications. Formed competencies: demonstration of the ability to manage assets by using the FIU in financial management and investment analysis; skills in analyzing and modeling financial situations using the FIU |
| Insurance models and actuarial calculations | PD | 6 | Issues under study: actuarial mathematics; justification of the existing insurance system; models of individual risks; models of short-term and long-term life insurance; principles of reinsurance; models of the theory of risk in insurance. Formed competencies: mastering the skills of applying the theory of decision-making in conditions of uncertainty and probabilistic modeling of cash flows for modeling financial systems; mastering the skills to apply the methodology for calculating insurance tariff rates. |
| Research Work of a Master Student, Including the Implementation of the Master's Thesis | Additional cycle of disciplines | 2 | The research work of a master's student, including the implementation of a master's thesis, carried out without interrupting theoretical training, is to prepare a master's student for independent research work, the main result of which is the writing and successful defense of a master's thesis. |
| Research Work of a Master Student, Including the Implementation of the Master's Thesis | Additional cycle of disciplines | 10 | The research work of a master's student, including the implementation of a master's thesis, carried out without interrupting theoretical training, is to prepare a master's student for independent research work, the main result of which is the writing and successful defense of a master's thesis. |
| Research Work of a Master Student, Including the Implementation of the Master's Thesis | Additional cycle of disciplines | 4 | The research work of a master's student, including the implementation of a master's thesis, carried out without interrupting theoretical training, is to prepare a master's student for independent research work, the main result of which is the writing and successful defense of a master's thesis. |
| Name of disciplines | Cycle of disciplines | ECTS | Brief description of the disciplines |
| Foreign language (professional) | BD | 2 | The questions studied are: grammatical material, special vocabulary, terminological material; educational material corresponding to the main disciplines of the specialty; reading, speaking, listening and writing in the professional sphere. Formed competencies: mastering the skills of intercultural and communicative competencies of students; integration into the international professional environment; the use of a professional foreign language as a means of intercultural, scientific and professional communication. |
| Management | BD | 2 | The issues studied are: the essence and characteristic features of modern management, the history of its development; methods of planning and organizing the work of the department; principles of building the organizational structure of management; the basics of forming the motivational policy of the organization; features of management in the field of professional activity of a lawyer. Formed competencies: mastering the skills to use in practice the methods of planning and organizing the work of the department; analyze the organizational structures of management; carry out work to motivate the work of personnel; apply business and managerial communication techniques in professional activity; take into account the peculiarities of management in the field of professional activity. |
| Psychology of Management | BD | 2 | Issues under study: psychology of management in the system of scientific knowledge; basic approaches to the study of the management system; individual professional concept of the head; managerial interaction and decision-making process as an aspect of managerial activity; psychological features of the implementation of the main managerial functions; psychology of the subject of managerial activity; psychology of individual management styles. Formed competencies: knowledge of the psychological content of managerial activity, the individual managerial concept of the head, the theoretical foundations of managerial interaction, the psychological features of the implementation of the main managerial functions, the psychology of the subject of managerial activity; knowledge of the methods of psychological research in the field of managerial activity and interaction. |
| Design and Protection of the Master's Thesis | Additional cycle of disciplines | 12 | |
| Internship | PD | 10 | The industrial practice is aimed at consolidating the knowledge and skills of undergraduates obtained in the process of studying the disciplines of the fundamental and professional modules of the curriculum, developing the skills of practical professional activity. During the internship, the master's student learns new technologies and research methods, as well as develops professional and general cultural competencies necessary for inclusion in professional activities. |
| Financial econometrics | BD | 4 | Issues under study: statistical characteristics of financial data; classical linear regression model; profitability in financial markets; volatility estimation; asset pricing; modeling of multidimensional time series. Formed competencies: mastering the skills of asset management by applying the methodology of financial and econometric research: choosing an adequate econometric model; skills of data analysis using econometric software, interpreting the results obtained in econometrics. |
| Financial economics | PD | 5 | Topics studied: the role of innovation; mathematical methods and computer technologies in the financial economy; financial crises; exotic options; structured products; hybrid securities; banking; risk management; assets; credit derivatives; bonds; insurance problems; company valuation; M&A; attracting venture capital. Formed competencies: mastering the skills of independent research of events in the financial markets and their impact on the economy |
| Evaluation of companies in mergers and acquisitions | PD | 5 | Issues studied: principles of investment banking; typical types of activities performed by investment banks (sales and trade, research, mergers and acquisitions, lending and deposits); bank capital and risk; review of accounting and analysis of financial statements; valuation methods; investment banking process. Formed competencies: develops skills to control the correctness of the preparation and execution of financial statements in accordance with IFRS for the preparation of valuation models |
| Investment analysis (advanced level) | PD | 5 | Issues under study: dividend discount model; free cash flows; methods of multiplying residual value, venture capital; financial modeling/forecasting; credit analysis; analysis of financial statements of the bank; financial model of the bank; screening of investment ideas in banks. Formed competencies: skills of asset management by building a basic integrated model for evaluating the company; skills of performing a credit analysis of the company |
| Forecasting in Economics and Finance | BD | 4 | Issues under study: sources of economic and financial data and external forecasts; data collection and preparation, deviations, seasonal regulation, measures of forecasting efficiency; econometrics models; vector autoregression; Bayesian vector autoregression; machine learning techniques; forecasting scenario; consequences of forecasts for policy. Formed competencies: demonstration of financial forecasting skills through econometric modeling and interpretation of results |
| Microstructure of financial markets | PD | 5 | Topics studied: institutions and market structure; rational equilibrium of expectations( REE); strategic trading models; liquidity and algorithmic trading; limit order book (LOB) models; review of microstructure models. Formed competencies: the ability to determine the scientific nature of the problem, to distinguish the main approaches to modeling in the microstructure, to use basic approaches to modeling in the microstructure |
| Financial risk management | PD | 5 | Issues studied: financial markets and financial stability; modern concepts of integrated risk management in the corporate sector; financial risk management in commercial banks; quantitative methods of risk measurement and modeling; market risk management; credit risk management; operational risks. Formed competencies: formation of skills for building an integrated risk management system; skills for developing methodological support for the risk management process |
| Experimental research work of a master's student, including an internship and the implementation of a master's project | Additional cycle of disciplines | 5 | Mastering the methodology of scientific creativity, obtaining skills for conducting scientific research as part of a creative team; mastering theoretical and experimental methods for studying objects (processes, effects, phenomena, structures, projects) in this subject area. |
| Experimental research work of a master's student, including the implementation of a master's project | Additional cycle of disciplines | 8 | Formation of general cultural and professional competencies necessary for conducting independent research work, the result of which is the writing and successful defense of a master's thesis |
Agabekova Sholpan Nurtazaevna