Supported with matriculation courses, students of any background may enter this program. However, a strong background and some exposures in quantitative methods will be an advantage for incoming students.

Commencement date:
Every August
Length of study:
18 months

Class schedule :
Monday—Friday From 08.00—17.00 (depending on the schedule)
Total credits:
39 credits in 3 long semesters and 1 short semester

Course Structure


To prepare students for the regular semester, a matriculation program of 1 week is organized before the commencement. This program is also an opportunity for students to be considered to receive full/partial scholarship where one of the criteria is based on the ranking evaluation of the performance at the matriculation program.

Required courses:
Fundamentals of Management (Philosophy and Applied)
Introduction to Research Methods
Decision Making
Fundamentals of Marketing
Fundamentals of Finance
Fundamentals of Operation
Fundamentals of People and Knowledge Management
Fundamentals of Entrepreneurship
Business Analytics
This semester is the foundation stage for research development.

Required courses:
Management Thought and Research
Quantitative Research Methodology
Advanced Economics
Digital Technology in Business
The second semester is the stage for enriching and deepening your research interests.

Required courses:
Financial Statement Analysis
Corporate Finance and Portfolio Management
Practice in Data Analytics
Academic Writing

The third semester is the execution stage to conduct research, seminars, and thesis. You will carry out research projects including data gathering and processing, analysis and conclusion drawing, and reporting your findings in the form of thesis/publication.

The program requires you to publish your research in either accredited national or indexed international journals.

Required courses:
Investment Ethics and Professional Standards
Fixed Income and Derivatives
Electives 3
Electives 4
Required courses: Research Colloquium Thesis

Elective Courses for MSM in Finance Program

  • Financial Risk Management
  • Digital Economy and Financial Technology
  • Islamic Financial and Banking System

Costs and Scholarships

Semester 1:
IDR 13,500,000
Semester 2:
IDR 13,500,000
Semester 3 (short semester):
IDR 5,000,000
Semester 4:
IDR 13,500,000
IDR 45,500,000


  • Confirmation fee and all costs cannot be refunded in all conditions, including when students fail to register or finish the program
  • SBM ITB reserves the right to adjust the above information
  • Tuition fee waivers (fully or partly) are available at competitive basis


There are some opportunities to get a scholarship during your study in MSM SBM ITB. Approximately 50 % active MSM SBM ITB students currently receive scholarships from several sources. Some of them are:

  • Full and Partial Tuition Fee Scholarship from MSM ITB

    MSM SBM ITB annually provides scholarships to students. This is a competitive scholarship, awarded to students based on their outstanding achievement on matriculation and other criteria such as GPA and TOEFL scores. Each year, this scholarship is provided to six MSM students whose academic performance will be evaluated each semester. The awardees will be involved in the educational process and research in SBM ITB, both as a teaching assistant (tutor) and a research assistant.

  • Research Assistantship Scholarship

    Research assistantship scholarship is offered by research centers/labs and interest groups at SBM ITB.

How to Apply

Annually, MSM ITB commence classes on August. Early preparation become the important step to enroll and start an embarking journey with MSM ITB.

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