Curriculum

Structure of the Program

The program is spread over four semesters (two years), with three semesters of course work and one semester to write the master thesis.

After the first term, students can decide whether to specialize in financial mathematics, in financial economics or in actuarial science. Depending on the chosen specialization, the focus of the optional courses to be taken in the second and third term will be on mathematical finance, finance or actuarial science, respectively. Besides the courses from these three areas, students are also requested to attend language or cultural courses.

The study plans show typical courses of study, seperately for the three possible specializations. Note that the credit points stated per semester are not binding: You do not need to achieve exactly the stated number of points per semester.

Course schedule: Winter term 2018/19

Financial Mathematics

MathematicsFinancial EconomicsActuarial ScienceOther

Financial Mathematics I, 9 CP

Risk Theory I, 9 CP

Mortality Models and Hedging of Equity-linked Life Insurance Products, 3 CP

An Introduction to Measure-theoretic Probability, 4 CP

Stochastics 2, 9 CP

Stochastics 3, 4 CP

Optimization/OR 2, 9 CP

Risk Theory I, 9 CP

Graph Theory I, 9 CP

High Performance Computing 1, 8 CP

Statistical Learning, 4 CP

Nonparametric Statistics, 4 CP

Markov Chains, 4 CP

Asset Pricing, 7 CP

Investment and Risk Management, 6 CP

Business Unit Strategy and Corporate Finance, 7 CP

Research in Finance, 4 CP

Life, health and pension mathematics, 9 CP

Behavioral Economics, 7 CP

Financial Statement Analysis, 2 CP

Behavioral Finance, 3 CP

Risk Management in Insurance, 7 CP

Topics in Life and Pension Insurance, 7 CP

Life, health and pension mathematics, 9 CP

Risk Theory I, 9 CP

Risk Management in Insurance, 7 CP

Topics in Life and Pension Insurance, 7 CP

Mortality Models and Hedging of Equity-linked Life Insurance Products, 3 CP

Seminars

Risk Management Roundup, 5 CP

Practical Actuarial Science, 4 CP

Additional Key
Qualifications
*

Timetables (which do not necessarily contain all offered courses) for the first and third semester can be found here.

 

If you want to take an exam in a course that is not listed here you must clarify this with Prof. Löffler by the end of October.

 

Note that there are DAV Supplements which can be obtained in the following courses:
- "Versicherungsmathematik"  (one part) in Life,- Health and Pension-Mathematics
- "Angewandte Stochastik" in Risk Theory I
- "Finanzmathematik und Risikobewertung" in Financial Mathematics I (with supplemental course)
- Unternehmenssteuerung" in Risk Management in Insurance

 

*Please note that German language courses other than the ones specifically offered for international MSc students are usually not eligible. Furthermore, English language courses and language courses in your mother tongue are not eligible.

 

If you need help in your course selection, you can contact Niklas Paluszkiewicz.

Courses to be offered in the next terms

Courses to be offered in the summer term 2019

The course schedule is preliminary. There might be changes in the schedule.

Financial Mathematics

MathematicsFinancial EconomicsActuarial ScienceOther

Financial Mathematics II *, 9 CP

Risk Theory II, 9 CP

tba

Financial Mathematics II *, 9 CP

Mathematics of Games, 9 CP

Risk Theory II, 9 CP

High Performance Computing 2, 8 CP

Graph Theory II, 9 CP

tba

Financial Modeling, 3 CP

Credit Analysis, 7 CP

Asset Liability Management, 10 CP

Insurance Economics, 6 CP

Issues in Emerging Markets Finance, 3 CP

Advanced Financial Intermediation, 7 CP

Corporate Strategy, 6 CP

tba



Insurance Economics, 6 CP

Risk Theory II, 9 CP

Asset Liability Management, 10 CP

tba

 

Seminars

Practical Actuarial Science, 5 CP

Practical Financial Engineering, 5 CP

Additional Key
Qualifications **

If you want to take an exam in a course that is not listed here you must clarify this with Prof. Löffler by the end of April.

Courses that are taught in German that can be taken for Financial Economics include: Big Data Analytics (7 CP), Valuation (4 CP)

Courses that are taught in German that can be taken for Actuarial Science include: 

 Note that there are DAV Supplements which can be obtained in following courses:
- "Wirtschaftliches und rechtliches Umfeld" in Insurance Economics
- "Versicherungsmathematik" (one part) in Risk Theory II
- "Modellierung und Enterprise Risk Management" in Asset Liability Management

* The former course "Financial Mathematics II" will be split:
The Institute of Mathematical Finance will offer two courses in the summer semester. Stochastic Analysis (first half of the semester) and Financial Mathematics II (second half of the semester). Master in Finance students will only be offered one final exam covering both courses that will count as "Financial Mathematics II" and will be worth 9 CP.

** Please note that German language courses other than the ones specifically offered for international MSc students are usually not eligible. Furthermore, English language courses and language courses in your mother tongue are not eligible.

 

If you need help in your course selection, you can contact Niklas Paluszkiewicz.

Courses to be offered in the winter term 2019/20

The course schedule is preliminary. There might be changes in the schedule.

Financial Mathematics

MathematicsFinancial EconomicsActuarial ScienceOther

Financial Mathematics I, 9 CP

Risk Theory I, 9 CP

tba

An Introduction to Measure-theoretic Probability, 4 CP

Stochastics 2, 9 CP

Stochastics 3, 4 CP

Optimization/OR 2, 9 CP

Risk Theory I, 9 CP

Graph Theory I, 9 CP

High Performance Computing 1, 8 CP

tba

Asset Pricing, 7 CP

Investment and Risk Management, 6 CP

Business Unit Strategy and Corporate Finance, 7 CP

Research in Finance, 4 CP

Life, health and pension mathematics, 9 CP

Behavioral Economics, 7 CP

Financial Statement Analysis, 2 CP

Risk Management in Insurance, 7 CP

Topics in Life and Pension Insurance, 7 CP

tba

Life, health and pension mathematics, 9 CP

Risk Theory I, 9 CP

Risk Management in Insurance, 7 CP

Topics in Life and Pension Insurance, 7 CP

tba

Seminars

Risk Management Roundup, 5 CP

Practical Actuarial Science, 4 CP

Additional Key
Qualifications*

If you want to take an exam in a course that is not listed here you must clarify this with Prof. Löffler by the end of October.

 

Courses that are taught in German that can be taken for Financial Economics include: Rechnungslegung für Aktuare (7 CP)

Courses that are taught in German that can be taken for Actuarial Science include: Rechnungslegung für Aktuare (7 CP)

 

Note that there are DAV Supplements which can be obtained in the following courses:
- "Versicherungsmathematik"  (one part) in Life,- Health and Pension-Mathematics
- "Angewandte Stochastik" in Risk Theory I
- "Finanzmathematik und Risikobewertung" in Financial Mathematics I (with supplemental course)
- Unternehmenssteuerung" in Risk Management in Insurance

 

*Please note that German language courses other than the ones specifically offered for international MSc students are usually not eligible. Furthermore, English language courses and language courses in your mother tongue are not eligible.

 

If you need help in your course selection, you can contact Niklas Paluszkiewicz.