Actuarial and Financial Mathematics

Study mode:On campus Study type:Full-time Languages: English
Deadline: Apr 30, 2024
StudyQA ranking:4673 Duration:2 years

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Within the field of mathematics, the study programme focuses on financial mathematics, actuarial sciences, statistics, and computational methods. Lectures in the mentioned fields are accompanied by seminars, reading courses, and project seminars. In addition, the participants take modules like Insurance Economics, Economics of Banking, Dynamics of Financial Markets.

Educational organisation

The research- oriented study programme contains practical training in real-world problems. The last semester is reserved for the Master's thesis.

Study abroad unit(s)

Study abroad periods at international partner universities are possible.

Forms of assessment

Oral and written exams

Course objectives

Participants learn about the chances and the limits of mathematical models in finance and actuarial science. They develop new models and implement them. The research-oriented education is on a high theoretical level. Excellent graduates might continue with PhD studies. The job chances are extremely good: banks, insurances, consultancies, research institutes, or public control units are always looking for mathematicians with a background in actuarial and financial mathematics.

Language requirements

Profound knowledge of the English language (e.g. TOEFL 550/213/80)

Academic requirements

Applicants have to hold a qualified BSc degree in Mathematics or Economathematics (equivalent to the correspondent study programmes in Kaiserslautern). Profound knowledge in probability theory and stochastic is required.

Enrolment fees

  • Social fee: approx. 216.67 EUR per semester, includes free transportation in the area around Kaiserslautern (up to 100 km), more than 50 free university sports courses, and more
  • Assessment Fee: 50 EUR single payment for the verification of foreign certificates
  • German Language & Orientation Course for international Master's students & PhD candidates: 650 EUR single payment

Costs of living

Monthly costs: in total approx. 600-650 EUR to cover all personal expenses.
e.g.: accommodation approx.: 280 EUR; health insurance: 80 EUR; food: 200 EUR

Cost of Living - a snapshot on regional prices
Meal in refectory: 2.40 EUR
Loaf of bread: 1.20 EUR
Orange juice (1 litre): 1.00 EUR
Rice (1kg): 0.90 EUR

Job opportunities

Student assistantships are available on a competitive basis. Excellent students have good chances of finding jobs in research projects, but these are not usually granted in advance. Support in finding a job as a student assistant is available through the Department of International Affairs: ISGS.

Funding opportunities within the university

The department has a scholarship programme for excellent international students. Recipients receive approx. 670 EUR per month.

Arrival support

The Department of International Affairs: ISGS at TU Kaiserslautern:
Lending a hand in every phase of your stay

Before Your Arrival...
Effective pre-arrival communication helps you to arrange application, visa, residence permit and housing affairs. We supply any information and assistance needed to manage the application procedure and arrange accommodation on demand. We also provide support on an individual basis by completing your documents for arrival.

Once You Are Here...
One major task of the ISGS team is to help the students settle into and become part of the university's community. The welcome package includes pick-up from the train station and drop-off at the student's apartment as well as support with first shopping and highly individualised support in administrative and organisational issues, e.g. enrolment, registration with local authorities, opening a bank account, and insurance matters.

Orientation Course - A prelude to German communication, academic culture and daily life. This course is offered twice a year prior to the start of the lecture period (6-8 weeks). It includes intensive language training and administrative support as well as cultural and social events. You will improve your knowledge of German and learn about our teaching styles and methods. This course enhances orientation on campus, in town, and in the student community. Once having established a foothold, you will have a clear mind for efficient studies or research!

See: http://www.uni-kl.de/isgs

Services and support for international students

The Department of International Affairs: ISGS cares of international graduates & PhD candidates from the moment you make the decision to come to Kaiserslautern until you graduate or leave the university. We lend a hand during every phase of your stay!

Besides the individual support during the pre-arrival phase and warm welcome, we will provide you with continuing support that will enhance your learning:

Mentoring Your Studies and Research...
Whether during your studies or research, ISGS offers a variety of cultural and social events as well as extra-curricular activities that will enhance your professional skills - such as workshops in academic culture or intercultural communication - which are supplementary and free. These are highly recommended for your personal development.

Jump-Start Your Career...
The ISGS offers professional development training on teamwork, leadership, time management, and cross cultural training as well as specific language training with regard to job applications. To help you achieve outstanding success with your academic work, the variety of our special offers for PhD students during the final period at university is permanently growing.
The ISGS establishes meetings with reputable contacts from science and industry within our Career Services and sets up visits to factories, company headquarters, and research institutes in order to help the students launch new careers.

See: http://www.uni-kl.de/international

Accommodation

The majority of our students live in residence halls located on or close to campus. Unlike in other countries, German dormitories are not owned or operated by the university, but by external institutions. The "Studierendenwerk" operates several large halls of residence in Kaiserslautern. Students submit housing applications directly to the Studierendenwerk. There is typically a waiting period for housing in the residence halls. For international Master's or PhD students, the Department of International Affairs: ISGS at TU Kaiserslautern aims to arrange accommodation in these residence halls or in private accommodation within its pre-arrival service.
The halls of residence have modern single, double, or shared apartments with kitchenette, bathroom/WC, and modern facilities as well as Internet access.
  • Fully-furnished:
    • Kitchenette: no plates & pots, etc.
    • Bed & mattress (no blankets & pillows)
    • Wardrobe
    • Shelf, table, chair (no computer)
  • Rent: 220-290 EUR
Accommodation is not automatically guaranteed with admission. Thus, a request to ISGS for accommodation is advisable.

See: http://www.uni-kl.de/international/master/prospective-students/travel-accommodation/
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