English > Courses > First year

Postgraduate specialist study in Actuarial mathematics

First year

Probability and mathematical statistics
Financial mathematics
  • Descriptive analysis of data
  • Random variables
  • Generating functions
  • Joint distributions of random variables
  • Central limit theorem and applications
  • Sampling and statistical inference
  • Point estimation
  • Confidence intervals (CI)
  • Testing statistical hypothesis
  • Correlation and regression analysis
  • Analysis of variance
  • Conditional expectation
  • Theory of interest rates
  • The basic compound interest functions
  • Discounted cash flows
  • The valuation of securities ­ an introduction
  • Simple stohastic interest rate models
Stochastic modelling
  • Model structure and the principles of actuarial modelling
  • Stochastic processes: definition and classification
  • Markov chains
  • Markov jump procesess
  • Time series analysis
  • Brownian motion and diffusions
  • Monte Carlo simulation of stochastic processes
  • Process of actuarial modelling
  • Supply and demand, price equilibrium
  • Elasticity of supply and demand
  • Utility theory and consumer choice
  • National economy
  • Public sector finance
  • Keynesian model
  • Monetary politics
  • Government macroeconomics policy
Survival models
Actuarial mathematics I
  • Survival models and the life table
  • Estimating the lifetime distribution
  • The two-state Markov model
  • The general Markov model
  • Binomial and Poisson models
  • Graduation and statistical tests
  • Methods of graduation
  • Exposed to risk
  • Heterogeneity within population and selection
  • The evaluation of assurances and annuities
  • Premiums and reserves

  • Straightforward functions involving two lives
  • Use of straightforward functions involving selection
  • Variable benefit, disability and long term care contracts
  • Expenses and bonuses of life insurance contracts
  • Gross premiums and reserves for fixed and variable benefit contracts
  • The technique of discounted emerging costs
  • The technique of asset shares in the context of life insurance contracts
  • Alterations to contracts
  • Costs of guarantees under life insurance contracts
  • Mortality; selection and standardization
  • The process of population projection and its main determinants
  • Valuation of benefits under a disability insurance contract

Actuarial mathematics II
  • Decision theory
  • Bayesian statistics
  • Loss distributions
  • Risk models
  • Ruin theory
  • Credibility theory
  • Simple experience rating systems
  • Analysis of run-off triangles
  • Generalized linear models