Quantitative analysis


Quantitative Analysis is a one-year academic master programme oriented toward modern methods of quantitative economic analysis. Quantitative analysis as an indispensable part of economic theory and practice is growing with the development of information technology. Application of appropriate quantitative models and methods in the analysis of complex economic phenomena and their interdependencies significantly contributes to the quality of economic research. At the same time, quantitative analysis enables solving specific economic and business problems.

In this programme, students are enabled to apply statistical, econometric, actuarial, demographic and operational research methods, as well as information technology achievements, in various fields of economics and business. Competencies acquired correspond to the latest requirements of the labour market and trends in economic science.

Thanks to their advanced quantitative and analytical knowledge and skills, graduates of the Quantitative Analysis programme are in great demand at financial institutions, companies from different fields of business, government agencies, and international organizations. Besides the possibility for a successful professional career in the public or private sector, the programme provides a high-quality basis for the continuation of education towards a PhD degree in the country or abroad.


Duration: 2 semesters
(60 ESPB)
Start: Applications: September
Start semester: October
Language: Serbian
Degree: MSc in Economics
Fees: 1 ECTS = 3.459,48 RSD (42 ECTS = 145.298 RSD).
Final 18 ECTS devoted to master thesis development and professional practice: 41.458 RSD
Programme quota: 80
Government-funded quota: 10
Contact: Email: pds@ekof.bg.ac.rs
Phone: +381698066384, +381698066385, +381698066386


The program Quantitative Analysis includes six modules: Actuarial Science, Demography, Econometrics, Quantitative Analysis in Business and Management, Business Informatics and Statistics. Students have the opportunity to specialize in one of these fields in accordance with their interests and with appropriate representation of electives. Curriculum of this program is designed to enable students to master modern quantitative analysis methods and their application in economic research and business practice. Also, the program is aligned with comparable study programs at prestigious foreign higher education institutions.


The programme has the following aims:

  • To improve students’ competences (knowledge and skills) acquired within undergraduate studies in the field of quantitative analysis, applied statistics, business informatics and insurance
  • To promote original approaches to solving economic problems of a quantitative nature
  • To enable students to apply actuarial model in insurance, banking, financial markets and other areas of finance
  • To enable students for independent research work in the field of quantitative economic analysis and to continue their education in PhD studies.

After successful completion of the programme, students will be able to:

  • Apply statistical, econometric, actuarial, demographic, and operational research methods in concrete economic analysis and to predict future trends in economic variables
  • Manage financial and actuarial risks on the basis of appropriate quantitative models
  • Actively use quantitative knowledge and skills in all areas of business
  • Analytically use statistical software to solve specific economic problems
  • Form and administer databases for business information systems
  • Use advanced techniques and models in the field of data science.

Graduates from this programme will be able to pursue career in a wide range of professions that require strong quantitative and analytical skills, including, but not limited to, the following positions:

  • Actuary,
  • Econometrician,
  • Operational Research Analyst
  • Statistician, statistician researcher,
  • Economic analyst,
  • Researcher in economics,
  • Insurance analyst,
  • Financial analyst,
  • Database analyst,
  • Information Systems Analyst,
  • Business System Analyst (IT),
  • Software development expert,
  • Experts in the development of Internet applications and multimedia content, etc.


Candidates who have completed four years of undergraduate degree (240 ECTS) may apply for admission to the Master of Academic Studies. Applicants who have completed Integrated Studies or Master Academic Studies, earning at least 300 ECTS, may also be enrolled in the first year of Master Academic Studies.
The ranking list for enrolment in the first year of master academic studies is determined based on the general grade average, length of study in previous studies and the result on the entrance exam.

Candidates take two subjects in the entrance exam:
1. Principles of Economics
2. Candidates select another course from the following course basket:

  • Mathematics
  • Basic Statistical Analysis
  • Fundamentals of Operations Research
  • Financial Mathematics
  • Demographic Analysis
  • Econometrics
  • Business Informatics
  • Theoretical Statistics

A condition for enrolment is to earn more than half of the maximum number of credits in each subject. Having completed the application and testing process, a unique ranking of the candidates is published.
The final order of candidates for enrolment is obtained by creating a ranking list, formed as follows:
1. Quadrupled GPA from undergraduate academic studies (up to 40 points)
2. Number of points in tests (2 tests with 20 points each)
3. The total number of points is adjusted by the length of study by subtracting 0,25 points for each month of study after the expiry of the deadline for graduation, as follows, 0,25 points are added for each month of study beyond the deadline. For study programmes with 240 ECTS, the deadline is four years; for study programmes with 180 ECTS the deadline is three years; for master academic studies of 60 ECTS is one year, while the expected deadline for completion of master academic studies of 120 ECTS is two years.

Candidates who in their previous university studies had a subject with syllabus similar to the one of the entrance exams subjects at the University of Belgrade – Faculty of Economics, may use the grade from that subject instead of taking the entrance exam test in that subject. Instead of points on a given test, student receive doubled grade earned on that subject as their corresponding score.

Candidates holding foreign degrees need to have their degrees recognised by the University of Belgrade in order to apply for enrolment. We encourage potential candidates to submit their requests for recognition by mid-July (or earlier) at the latest, in order to meet the application and enrolment deadlines, as the procedure can take up to a few weeks. At the moment, for candidates applying for IMT programme, it is sufficient to provide evidence that the recognition process has been initiated. All relevant information about the recognition procedure can be found at the University page: http://www.bg.ac.rs/en/education/recognition.php?submenuheader=10


The tuition fee for courses of the Master Academic Studies (42 ECTS) is 145.298,00 RSD. In the final phase of the study, the tuition fee for 18 ECTS related to the master thesis and student internship is 41.548,00 RSD.

Payment dynamics:
First instalment – 40% at enrolment
Second instalment – 20% until 15.1.
Third instalment – 20% until 15.3.
Fourth instalment – 20% until 15.5.
Fifth instalment for 18 ECTS is 41.548 RSD in the final stage of the study

The tuition fee for foreign students is 1500 euros (official middle RSD exchange rate at the NBS on the day of payment) and 41.548,00 RSD in the final stage of the study.


University of Belgrade – Faculty of Economics
Kamenička 6, 11000 Belgrade, Serbia
Email: pds@ekof.bg.ac.rs
Tel: +381698066384, +381698066385, +381698066386