The second year has more analysis, a second linear algebra class, optimisation etc. Overall, completion of this would get you to the level of someone who has completed a bachelor's in math, I've taken analysis, algebra, upper div linear algebra at a state school in the US, and the diploma level is similar. It is NOT an MS (and doesn't claim to be) - it's meant to be for people who want to study some of the core content of a bachelor's in math, either for personal interest, or as preparation for an MS in math, economics etc.
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