Master 2 Financial Markets and Risk Evaluation - double diplôme HEC Liège (FI)

Formation initiale Formation enseignée en anglais Double diplôme


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Candidatures pour l'année 2023-2024 :
→ ouverture des candidatures : 1er mars 2023
→ fermeture des candidatures : 3 avril 2023
→ publication des admissions : 19 juin 2023
→ confirmation des candidats : jusqu'au 22 juin 2023


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    label contrôlé par l&aposEtatEPAS TSM


The TSM Master in Finance among the top 10 Masters in Finance that are EFMD-accredited worldwide

The European Foundation for Management Development (EFMD) Accreditation is the most thorough programme accreditation system for business and management programmes with an international perspective. According to EFMD: "The TSM Master in Finance is a robust academic programme with a commendable connection with the world of practice. The programme demonstrates several examples of best practices among which the use of ILOs to develop the provision but also to conduct programme delivery and assessment. The programme also offers a unique academic approach combined with the purpose of applying knowledge and skills to solving real-life problems and practical learning opportunities through internships."


The double degree « Financial markets and Risk Evaluation » (DU - FiRE) is a degree of excellence that gives a double competence in market finance and banking. It aims at training financial professionals as financial analysts, fund and asset managers, consultants and financial market professionals.

It gives access to the Master of Banking and Asset Management of HEC Management School - University of Liège (ULiège) in Belgium - and the corresponding degree, in addition to the EPAS-accredited Master Financial Markets and Risk Evaluation of TSM.

Students who enrol in this programme spend the first two semesters at TSM and the third and fourth semesters at HEC Liège.




The double degree enables students to:

  • acquire reasoning and knowledge in the fields of financial institution management and fund management;
  • acquire an in-depth knowledge of financial institutions, markets and financial instruments, as well as the way they operate and are used;
  • master concepts and issues related to portfolio management and management of financial risks;
  • understand the scope of financial operations through mastering innovative approaches and their calculation and optimisation;
  • gain a critical perspective on the skills acquired in the programme through personal reflection on the financial function and the experiences accumulated during individual and group tasks.


  • - Business Ethics and CSR
  • - Master Thesis Methodology
  • - Seminar on Sustainability and Smart Territories
  • - Foreign Language
  • - Fund Industry
  • - Estate and Financial Planning
  • - Financial Risk Management
  • - International Finance

One « Finance » course to choose among:

  • - Ethics, Regulation and Compliance in Finance
  • - Comptabilité approfondie et fiscalité
  • - Diagnostics approfondis de l’entreprise
  • - Empirical Methods in Financial Markets
  • - Financial Data Modeling and Analysis
  • - Financial Risk Modeling

One « Finance » course to choose among:

  • - Strategic Marketing Seminar
  • - International Management Seminar


  • - Thesis
  • - Internship
  • Candidates wishing to do a double degree must have completed the TSM M1 in Finance. They will be able to apply for the double degree when they apply for the M2 in Financial Markets and Risk Evaluation.
  • English language test (B2 required).
  • Examination of candidate’s application and possible interview.

Fields of expertise

  • Risk analysis
  • Brokerage
  • Asset management
  • Trading
  • Middle office
  • Design of structured products
  • Private equity
  • Consulting

Les autres formations

Master 2 Corporate finance (FI)

Master 2 Financial markets and risk evaluation (FI)

Master 2 Finance and information technology (FI)

Master 2 Corporate Finance - double diplôme HEC Liège (FI)

Master 2 Master of Science in Finance (parcours recherche)

Master 1 Finance (FI)