Course: Financial and Actuarial Mathematics

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Course title Financial and Actuarial Mathematics
Course code UEV/KFPM
Organizational form of instruction Lecture
Level of course Master
Year of study 1
Semester Winter
Number of ECTS credits 3
Language of instruction Czech
Status of course Optional
Form of instruction Face-to-face
Work placements This is not an internship
Recommended optional programme components None
Lecturer(s)
  • Sekerka Bohuslav, prof. RNDr. CSc.
Course content
Attributes of money, financial market, money supply and demand. Time plan, interest rate. Bearing interest before and after term in the period of unit length, simple and compound interest. Cash flow and its value. Importance of savings, models of savings. Conception of income, models of incomes. Credits and its attributes, schedule of payments, models of credit repayments, leasing, factoring, forfaiting. Life insurance, insurance-mathematical calculations, insurance premium, insurance reserves in personal life insurance. Tariff groups and basic indicators, damage tables and exclusion plan of damage status, insurance premium, insurance reserves and its accruing. Participation, bonuses and extra premiums. Pension scheme, health insurance. Reinsurance, classification of reinsurance, proportional and unproportional reinsurance.

Learning activities and teaching methods
Monologic (reading, lecture, briefing), Dialogic (discussion, interview, brainstorming), Work with text (with textbook, with book)
Learning outcomes
The aim of the course is to acquaint the students with financial and actuarial mathematics and basic knowledge and methods of this discipline. The accent is put on the ability to use acquired knowledge in various spheres of the economic theory and practice.
Students will be able to use acquired knowledge not only in the applications of the financial and actuarial mathematics but also in other related specializations. Furthermore, they will formulate alternative approaches and suitable methods and properly present final solutions and defend it with necessary arguments.
Prerequisites
unspecified

Assessment methods and criteria
Oral examination, Written examination, Student performance assessment

The graded assignment is granted upon completion of the following conditions: attendance at seminars and passing all written tests.
Recommended literature
  • CIPRA, T.:. Finanční a pojistné vzorce. Praha: Grada Publishing, 2006.
  • CIPRA, T.:. Matematika cenných papírů. Praha: HZ, 2000.
  • MACHÁČEK, O.:. Finanční a pojistná matematika. Praha: Prospektum, 2001.
  • RADOVÁ, J., DVOŘÁK, P.:. Finanční matematika pro každého. Praha: Grada, 2007.
  • SEKERKA, B., JINDROVÁ, P.:. Finanční a pojistná matematika. Pardubice: Univerzita Pardubice, 2005.
  • SEKERKA, B.:. Matematické a statistické metody ve financování, cenných papírech a pojištění. Praha: Profess Consulting, 2002.


Study plans that include the course
Faculty Study plan (Version) Category of Branch/Specialization Recommended year of study Recommended semester
Faculty: Faculty of Economics and Administration Study plan (Version): Economics of Public Sector (2016) Category: Economy 1 Recommended year of study:1, Recommended semester: Winter
Faculty: Faculty of Economics and Administration Study plan (Version): Economics of Public Sector (2014) Category: Economy 1 Recommended year of study:1, Recommended semester: Winter
Faculty: Faculty of Economics and Administration Study plan (Version): Economics and Enterprise Management (2015) Category: Economy 1 Recommended year of study:1, Recommended semester: Winter
Faculty: Faculty of Economics and Administration Study plan (Version): Economics of Public Sector (2013) Category: Economy 1 Recommended year of study:1, Recommended semester: Winter
Faculty: Faculty of Economics and Administration Study plan (Version): Economics and Enterprise Management (2013) Category: Economy 1 Recommended year of study:1, Recommended semester: Winter
Faculty: Faculty of Economics and Administration Study plan (Version): Economics and Enterprise Management (2014) Category: Economy 1 Recommended year of study:1, Recommended semester: Winter