The GrEnFIn Erasmus Mundus Masters Program is a prestigious two-year program designed to cultivate Sustainable Energy Experts (SEEs) equipped to navigate the complexities of the global energy transition. By integrating disciplines such as engineering, finance, and environmental science, the program prepares graduates to address challenges in the energy sector with a comprehensive and interdisciplinary approach.
Conducted entirely in English, GrEnFIn Erasmus Mundus Program offers students the opportunity to study across three renowned European universities, gaining diverse cultural and academic perspectives. The curriculum emphasizes practical experience through internships and research assistantships, ensuring that graduates are well-prepared for careers in both academia and industry.
Project Status
- Status: Ongoing
- Start date: 01-10-2024
- End date: 30-11-2030
- Key Action: Erasmus Mundus Joint Masters
- EU Grant: 4.495.200,00 €
- Universities Involved
- Countries Involved
The GrEnFIn Erasmus Mundus Masters program offers students the opportunity to study at three top-tier universities across Europe.
| Alma Mater Studiorum – Università di Bologna |
| Ludwig-Maximilians-Universität München |
| Université Paris Dauphine |
| Italy |
| Germany |
| France |
Additionally, the program collaborates with various associated partners and stakeholders across Europe, enhancing its international scope. This cross-border collaboration allows students to gain an international perspective while studying and researching in the heart of Europe’s academic and industrial hubs.
Description of the GrEnFIn Erasmus Mundus Program
GrEnFIn EMJM aims to develop professionals capable of steering the transition to a low-carbon economy. By combining quantitative analysis, engineering principles, and financial acumen, the program addresses the multifaceted challenges of sustainable energy. Students engage in a curriculum that balances theoretical knowledge with practical application, preparing them to contribute effectively to the evolving energy landscape.
Key Features of the GrEnFIn Erasmus Mundus Program
- Interdisciplinary Curriculum: Integrates climate science, renewable engineering, and financial modeling.
- Multiple Degrees: Graduates receive degrees from UNIBO, LMU, and UPD.
- Mobility: Structured study across three European universities.
- Practical Experience: Includes internships and research assistantships.
- Global Perspective: Prepares students for international careers in sustainable energy.
Mobility Tracks of the GrEnFIn Erasmus Mundus Program
The program’s mobility structure allows students to experience choose from three different specialization tracks: Renewable Technologies, Climate&Business or Environmental Finance
- Semester 1: Depending on the chosen track, students begin at UPD (Renewable Technologies), LMU (Environmental Finance), or UNIBO (Climate & Business).
- Semester 2: Students rotate to another partner university at UNIBO (Renewable Technologies Curriculum) and LMU (Environmental Finance and Climate&Business Curriculum).
- Semester 3: takes place at UNIBO (Renewable Technologies Curriculum) and at UPD (Climate&Business and Environmental Finance Curriculum).
- Semester 4: Internship or research assistantship, culminating in a master’s thesis.
Admission Requirements
Applicants must meet the following criteria:
- Academic Qualification: Bachelor’s degree in Mathematics, Physics, Economics, Statistical Sciences, Information Technology, or Engineering.
- Language Proficiency: English proficiency at CEFR level B2 or higher.
- Assessment Test: Mandatory online test evaluating knowledge in Mathematics, Statistics, Economics, and Finance.
- Personal Training: Evaluation based on academic merit and curriculum vitae.
How to Apply for GrEnFIn Erasmus Mundus Program
- Online Registration: Access the application portal at Studenti Online.
- Program Selection: Choose up to two of the three available tracks.
- Document Submission: Upload required documents, including academic transcripts, proof of English proficiency, CV, and optional reference letters.
- Assessment Test: Participate in the mandatory online test scheduled for March 10-12, 2025.
Tips to Win GrEnFIn Erasmus Mundus Program
- Early Preparation: Gather all necessary documents well before the deadline.
- Strong Motivation Letter: Clearly articulate your interest and goals related to sustainable energy.
- Relevant Experience: Highlight any academic or professional experiences in related fields.
- Academic Excellence: Maintain a strong academic record to enhance your application.
Application Timeline
- Applications Open: December 2, 2024
- Application Deadline: March 3, 2025
- Assessment Test: March 10-12, 2025
- Admission Results: April 7, 2025
- Program Start: September 15 – October 1, 2025
Curriculum Structure of GrEnFIn Erasmus Mundus Program
The program offers three specialized tracks:
- Renewable Technologies: Focuses on engineering aspects of renewable energy sources and technologies.
- Environmental Finance: Centers on financial instruments and risk management related to environmental factors.
- Climate & Business: Emphasizes the intersection of climate science and business strategies.
- First Semester
- Second Semester
- Third Semester
- Fourth Semester
Specialization track: ENVIRONMENTAL FINANCE at LMU
| Course | ECTS |
|---|---|
| STOCHASTIC CALCULUS AND ARBITRAGE THEORY | 9 |
| ADVANCED TOPIC IN FINANCIAL MATHEMATICS B | 6 |
| CLIMATE SYSTEM AND CLIMATE CHANGE (STATISTICAL INFERENCE) | 9 |
| Elective (Choose 6 ECTS) | |
| CLIMATE-RELATED RISK AND COMMODITY MARKET II (Elective Topics in Business Administration-Theory I) | 6 |
| ECONOMETRICS | 6 |
| ADVANCED TOPIC IN FINANCIAL MATHEMATICS C | 3 |
| SEMINAR | 3 |
Specialization track: CLIMATE&BUSINESS at UNIBO
| Course Name | ECTS |
|---|---|
| RISK MODELLING AND PROBABILITY | 12 |
| CLIMATE AND ENERGY ECONOMICS | 12 |
| FINANCIAL MARKETS AND CLIMATE CHANGE: PRICING/HEDGING AND ASSET MANAGEMENT (I.C.) – ASSET MANAGEMENT AND TRANSITION RISK | 6 |
Specialization track: RENEWABLE TECHNOLOGIES at UPD London
| Course Name | ECTS |
|---|---|
| STOCHASTIC CALCULUS | 3 |
| FINANCIAL MODELING with Python | 3 |
| PORTFOLIO MANAGEMENT | 6 |
| MICROECONOMICS and ENVIRONMENT | 3 |
| Electives (Choose 15 ECTS) | |
| MACROECONOMICS | 3 |
| TIME SERIES ECONOMETRICS | 6 |
| DERIVATIVE INSTRUMENTS | 3 |
| FINANCIAL STATEMENT ANALYSIS | 3 |
Specialization track: ENVIRONMENTAL FINANCE at LMU
| Course Name | ECTS |
|---|---|
| NUMERICAL METHODS IN FINANCIAL MATHEMATICS | 9 |
| FIXED INCOME MARKETS AND CREDIT DERIVATIVES | 9 |
| QUANTITATIVE RISK MANAGEMENT | 9 |
| Electives (Choose 6 ECTS) | |
| STATISTICAL METHODS FOR FINANCIAL MATHEMATICS | 6 |
| ADVANCED TOPIC IN COMPUTER AND DATA SCIENCE B | 6 |
| SUMMER/WINTER SCHOOL | 6* |
*ECTS for Summer/Winter School is inferred as 6 based on elective requirement, but may vary—check program details for confirmation.
Specialization track: CLIMATE&BUSINESS at LMU
| Course Name | ECTS |
|---|---|
| FIXED INCOME MARKETS AND CREDIT DERIVATIVES | 9 |
| QUANTITATIVE RISK MANAGEMENT | 9 |
| NUMERICAL METHODS IN FINANCIAL MATHEMATICS | 9 |
| Electives (Choose 3 or 6 ECTS) | |
| STATISTICAL MODELS FOR FINANCIAL MATHEMATICS | 6 |
| SUMMER SCHOOL | 6 |
| SEMINAR | 3 |
Specialization track: RENEWABLE TECHNOLOGIES at UNIBO
| Course Name | ECTS |
|---|---|
| THE EARTH CLIMATE SYSTEM AND CLIMATE CHANGE | 6 |
| SMART GRIDS FOR SMART CITIES | 6 |
| PYTHON CODING AND DATA SCIENCE | 6 |
| INTERNATIONAL LAW AND SUSTAINABILITY | 6 |
| FINANCIAL MARKETS AND CLIMATE CHANGE: PRICING/HEDGING AND ASSET MANAGEMENT – MATHEMATICAL FINANCE, ASSET PRICING AND DERIVATIVES | 6 |
Specialization track: ENVIRONMENTAL FINANCE at UPD
| Course Name | ECTS |
|---|---|
| ENERGY AND ENVIRONMENTAL ECONOMICS | 6 |
| GREEN FINANCE: MARKET FINANCE AND PROJECT FINANCING | 6 |
| PYTHON – MACHINE LEARNING | 3 |
| CORPORATE LAW AND BUSINESS ETHICS | 3 |
| Electives (Choose up to 12 ECTS) | |
| ADVANCED METHODS FOR RISK MANAGEMENT | 6 |
| EMPIRICAL MODELING OF ELECTRICITY AND GAS MARKETS | 6 |
| BEHAVIORAL FINANCE | 3 |
| MACROECONOMICS OF MARKET PARTICIPANT | 3 |
| ECONOMY OF CLIMATE CHANGE | 6 |
| CORPORATE STRATEGY | 3 |
| SAS/R/SQL DATA ANALYSIS, DATA MODELING | 3 |
| INVESTING IN FINANCIAL MARKET | 3 |
| LEADERSHIP IN FINANCE | 6 |
| WINTER/SUMMER SCHOOL | 6 |
Specialization track: CLIMATE&BUSINESS at UPD
| Course Name | ECTS |
|---|---|
| CORPORATE LAW AND BUSINESS ETHICS | 3 |
| ENERGY AND ENVIRONMENTAL ECONOMICS | 6 |
| GREEN FINANCE: MARKET FINANCE AND PROJECT FINANCING | 6 |
| ECONOMY OF CLIMATE CHANGE | 6 |
| Electives (Choose up to 9 ECTS) | |
| BEHAVIORAL FINANCE | 3 |
| SAS/R/SQL DATA ANALYSIS, DATA MODELING | 3 |
| LEADERSHIP IN FINANCE | 6 |
| MACROECONOMICS OF MARKET PARTICIPANTS | 3 |
| ADVANCED METHODS FOR RISK MANAGEMENT | 6 |
| INVESTING ON FINANCIAL MARKETS | 3 |
| CORPORATE STRATEGY | 3 |
| WINTER/SUMMER SCHOOL | 6 |
Specialization track: RENEWABLE TECHNOLOGIES at UNIBO
| Course Name | ECTS |
|---|---|
| SOLAR & WIND ENERGY AND STORAGE SYSTEMS | 6 |
| MACHINE LEARNING AND ARTIFICIAL INTELLIGENCE | 6 |
| CREDIT AND WEATHER DERIVATIVES | 6 |
| Electives (Choose up to 12 ECTS) | |
| HYDRAULIC AND BIOENERGY (C.I.) – MARINE RENEWABLE ENERGY – BIOENERGY, HYDROGEN AND HEAT RECOVERY SYSTEMS | 6 |
| INTENSIVE PROGRAMME | 6 |
| ADVANCED RISK AND PORTFOLIO MANAGEMENT | 6–9 |
| SUMMER SCHOOL AND TRAINING | 6 |
Internship/Master Thesis
| Course | Type | Area/EP | ECTS |
|---|---|---|---|
| Master Thesis | Mandatory | 30 | |
| Total | 30 |
Coordinator Contact
- Program Director: Prof. Silvia Romagnoli
- Institution: Alma Mater Studiorum – Università di Bologna
- Email: silvia.romagnoli@unibo.it
- GrEnFIn Office Email: grenfin@unibo.it
For specific inquiries, you can also reach out through the Contact section on the program’s official website.
Alumni Feedback
GrEnFIn Erasmus Mundus alumni have praised the program for its international outlook, interdisciplinary curriculum, and the strong network of industry partners. Here are a few highlights from past students:
“GrEnFIn gave me a unique chance to explore energy policy, finance, and engineering in a truly international setting. The mobility across three countries was both academically enriching and personally transformative.”
– Ananya Sharma, India
“What stood out for me was the emphasis on practical experience – from real case studies to a hands-on internship, I graduated feeling prepared for the green job market.”
– Lucas Meyer, Germany
“Studying with classmates from around the world opened my mind and helped me build a global professional network.”
– Sophia Bernard, France
Frequently Asked Question (FAQs)
Do I need to apply separately to each university in GrEnFIn Erasmus Mundus Program?
No, you apply once through the UNIBO portal, and if selected, you’ll receive joint admission across the consortium.
Is there a tuition fee for GrEnFIn Erasmus Mundus Program?
Yes, but full scholarships are available for selected students, covering tuition, travel, and living costs.
How many students are selected each year for GrEnFIn Erasmus Mundus Scholarship?
Up to 20 students are admitted annually, with around 75% receiving full Erasmus Mundus scholarships.
Can I apply to GrEnFIn Erasmus Mundus Program without an engineering background?
Yes, applicants from various disciplines like economics, statistics, and mathematics are encouraged to apply.
What career paths are common for graduates after GrEnFIn Erasmus Mundus Program?
Graduates pursue roles in sustainability consulting, environmental finance, energy policy, research, and corporate ESG departments.
