Program Overview

Program Overview

The University of Copenhagen offers a Master's program in Actuarial Mathematics and Mathematics-Economics, with a course focused on the mathematics of life insurance.

Course Description

The course, NMAK22010U Projects in the Mathematics of Life Insurance, covers selected topics in the mathematics of life insurance with an emphasis on research from the present millennium. Topics may include multi-state modeling, estimation and valuation in Markov, semi-Markov, and non-Markov models, policyholder behavior, and market consistent valuation.

Learning Outcomes

• Knowledge: In-depth understanding of selected topics in the mathematics of life insurance and basic insight into the mathematics of life insurance as a research field.
• Skills: Formulate practical problems from life insurance within mathematical-theoretical frameworks and summarize key aspects of an actuarial research paper.
• Competences: Read and reflect on actuarial research papers and conduct small, partly independent, research-based projects in the mathematics of life insurance.

Literature

The course material consists mainly of research papers from actuarial journals.

Recommended Academic Qualifications

Stochastic Processes in Life Insurance (LivStok) and Topics in Life Insurance (Liv2) are recommended, along with academic qualifications equivalent to a BSc degree.

Teaching and Learning Methods

The course includes six hours of lectures per week for the first three weeks, followed by an hour of group supervision per week until the end of week seven.

Workload

• Lectures: 18 hours
• Preparation: 82 hours
• Project work: 100 hours
• Guidance: 5 hours
• Exam: 1 hour
• Total: 206 hours

Assessment

The course is assessed through an oral examination, 30 minutes, based on a mandatory group project. The project forms the basis for the oral examination, and only certain aids are allowed.

Exam Registration Requirements

Students must write and hand in the mandatory group project to participate in the oral exam.

Re-exam

The re-exam follows the same format as the ordinary exam, with the option to hand in a new version of the project.

Course Information

• Language: English
• Course code: NMAK22010U
• Credit: 7.5 ECTS
• Level: Full Degree Master
• Duration: 1 block
• Placement: Block 4
• Schedule: B

Study Board and Department

The course is offered by the Study Board of Mathematics and Computer Science, Department of Mathematical Sciences, Faculty of Science.

Course Coordinators and Lecturers

Course coordinators and lecturers include Christian Furrer and lecturers from academia and industry.