Mathematical Finance and Actuarial Science

The Mathematical Finance and Actuarial Science Master’s program is tailored to students who are interested in a demanding vocational education and training where finance and actuarial science are concerned. In addition to the foundational subject of stochastic analysis, the specialties of mathematical finance and actuarial science are therefore of central importance. Students select one of the two specialties but always acquire knowledge of the other as well. The content is complemented by courses in economics and cross-disciplinary topics. For a comprehensive description of the program, please refer to the degree program documentation: Degree program documentation for the Master’s program in Mathematical Finance and Actuarial Finance (PDF, German) Which further expertise and skills will I acquire? As a graduate you are able to mathematically model scientific questions relating to finance and insurance sectors, to analyze, critique and further develop these questions in an economic context and, ultimately, to apply the results in practice. Given the various lectures in econometrics on offer, you will have rounded out your finance and actuarial science profile accordingly. You will also have refined your soft skills by attending courses on topics such as rhetoric or presentation techniques. Which professional opportunities can I take up with this qualification? As a graduate of the Mathematical Finance and Actuarial Science master's program you are ideally prepared for an occupation in financial markets or insurance. Professional opportunities arise inter alia in areas where mathematical finance expertise is in demand, such as risk management or portfolio theory, as well as in actuarial science. Further options include working as an auditor, tax advisor or financial controller. Program structure The chosen specialty constitutes the core of the master's program – mathematical finance or actuarial science. This is complemented by courses from the remaining specialty as well as content relating to economics and econometrics. In addition, relevant cross-disciplinary courses serve the purposes of cultivating and acquiring soft skills. The program's flexible structure makes it easier to study abroad for one or two semesters at a TUM partner university. The degree concludes with the master’s thesis in the forth semester. Language of instruction Required language skills for admission: You need sufficient English language skills if you wish to apply for this program. Evidence of your language proficiency has to be submitted before the end of the application deadline. Learn more about recognized certificates and other ways to prove your language skills . This evidence of your language proficiency confirms that you comply with the minimum language requirements for admission to the program. Depending on the program and your individual background, it may be necessary for you to keep working on your language skills during your studies. Be sure to take a look at the services of our Language Center. Language of instruction: The language of instruction for this program is usually English. This means that most of the modules are offered in English. Some courses may, however, be taught in German.To learn more about the language of instruction for each module, contact the departmental student academic advisor of this program. Information on study organization Information on exams Information on studying abroad Information on internships Fees for the program The tuition fees for international students from third countries for this degree program are 6,000 euros per semester . Many international students can have their fees waived or receive scholarships to finance them. You can find all information on waivers and scholarships here. Please note: The semester fee as a contribution to the student union must be paid additionally. It varies depending on where you are studying. You can find all information on the semester fee here. Academic Regulations:

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