This course provides an introduction to insurance economics. It is aimed at students majoring in "Actuarial Science" - students with other majors are of course also welcome. The course language is English. Its German title is "Versicherungsökonomik".
Topics addressed include:
- Choice under uncertainty (expected utility theory and rational decision under risk, measure for risk aversion, mean variance preferences)
- Insurance demands by households (base model, insurance demand without fair premium, Pareto-optimal insurance contract)
- Insurance demand by firms (risk management and diversification, risk management forward, future and options, corporate demand for insurance)
- Insurance supply (traditional premium calculation, financial modelling of insurance pricing, economies of scope, economies of scale)
- Microeconomic analysis (moral hazard, adverse selection)
The lecture is designed for students of "Economathematics", "Mathematics", "Economics" or "Finance" that are at an advanced stage of their studies.
The exam will be open, i.e. you can also take the second without taking the first exam. Only the first exam may lead to a DAV certificate. There are no requirements ("Vorleistungen") to attend the exams.
Authorized auxiliaries: pens, ruler and a non-programmable and non-graphic calculator.
- First exam: Thursday, July 19, 2018; 6-8 pm
Lecture hall for first exam: N25 - H4/5
Post-exam review (first exam):
Thursday, July 26 2018, 1-2 pm and Friday, July 27 2018, 1-2 pm in Heho22/2.22
The grades for the first exam are published in the Hochschulportal!
- Repetition exam: Wednesday, October 10, 2018; 8-10 am
Lecture hall for repetition exam: O23 - 2619 (Hörsaal Innere Medizin)
Post-exam review (repetition exam):
Friday, October 19 2018, 1-2 pm in Heho20/1.67
The grades for the repetition exam are published in the Hochschulportal!
Within this lecture it is possible to achieve the certificate of the German actuarial society (Deutsche Aktuar Vereinigung DAV) in "Versicherungswirtschaftslehre". This certificate is a basic requirement for becoming an actuary in Germany.
The requirement for receiving the certificate is passing the first final exam.
Information on registration for the DAV certificate is given on moodle.
Registration for Exam
There are three different registration procedures for the first exam depending on your plans:
- Only grade for course and no DAV certificate: Please just register for the exam via the Hochschulportals (the name of the course there is "Versicherungsökonomik").
- Grade for course and DAV certificate: Please register for the exam via the Hochschulportal (the name of the course there is "Versicherungsökonomik") and for the DAV certificate on moodle.
- Only DAV certificate and no grade for course: Please just register for the DAV certificate on moodle.