Content (Syllabus outline)
Financial mathematics:
Foundations
Theory of interest rates
Simple interest
Nominal and effective rates of interest
Relative and conformal rates of interest
The force of interest
Continuous compounding
Valuing cash flows
Annuities and loans
Varying annuities
Financial instruments
Actuarial mathematics:
Probability models
Life tables
Life insurance
Endowment insurance
Net premiums
Life annuities
Commutational functions
Mathematical reserves
Learning and teaching methods
Lectures, technical demonstration,
active work, seminary work
Intended learning outcomes - knowledge and understanding
Knowledge and Understanding:
Fundamental theoretical knowledge and practical skills of financial mathematics and actuarial work.
Transferable/Key Skills and other attributes:
Capabilitiy of understanding and application of knowledge in praxis. Ability of additional learning and individual study of new methods.
Readings
Obvezna študijska literatura (Compulsory textbooks):
1. Marovt J., Breznik K., Praktikum iz poslovno-finančne matematike, FNM, Maribor, 2014.
2. Marovt J., Aktuarski pristop k vrednotenju netveganih sredstev, FNM, Maribor, 2014.
3. Gerber H.U., Matematika življenjskih zavarovanj, DMFA, Zavarovalnica Triglav, Ljubljana, 1996.
Dodatna študijska literatura (Additonal textbooks):
1. McCutcheon J.J., Scott W.F., An Introduction to the Mathematics of Finance, Institute of Actuaries and the Faculty of Actuaries, Edinburgh, 1985
2. Hull J., Options, futures, and other derivative securities, Prentice-Hall, Englewood Cliffs, New Jersey
3. Bowers N.L., Gerber H.U., Hickman J.C., Jones D.A., Nesbitt C.J., Actuarial Mathematics, Itasca, USA, 1986.
