Management and Technology

Graduates of the Master's programme in Mathematical Finance and Actuarial Science acquire fundamental theoretical, methodological and practical knowledge in financial and actuarial mathematics, risk management, probability theory, statistics, optimisation, numerics and economics, as well as social competencies (e.g. teamwork), and extra-disciplinary qualifications (e.g. foreign language skills). They are able to transfer and apply mathematical concepts to tasks in a business context. Graduates of the programme are qualified to pursue doctoral studies in a variety of mathematical disciplines or to begin their careers in a broad spectrum of business fields.

Educational organisation

Lectures and seminars in the first three semesters, Master's thesis in the fourth semester On-the-job training is also accomplished through obligatory internships (e.g. in banks, insurance companies or in cooperation with businesses). These cooperation programmes may also provide support for students writing their Master's theses.

Study abroad unit(s)

Participants may voluntarily spend one or two semesters of study abroad.

Internships

An internship of four weeks is to be completed, usually during the summer break between the second and third semesters. Programme advisers will assist students in finding an appropriate internship.

Forms of assessment

Written or oral exams

Course objectives

The Mathematical Finance and Actuarial Science programme at TUM aims to prepare students to pursue future careers at banks, insurance companies, public utilities, consulting companies and public authorities, as well as in the research and development departments of large corporations. Graduates will be qualified to work in fields such as financial engineering, risk management and portfolio management, actuarial business, financial controlling, marketing, auditing, tax accounting, and commercial data processing.
A further educational goal to be achieved is the study of business and economic problems through mathematical models, the results of which are re-translated into business language.

Language requirements

If neither English nor German is your first language and you have not completed your education officially in one of these languages, you must provide proof of sufficient language skills in English OR German. Please refer to the main university websites to find out which English or German language certificates are acceptable.
https://www.tum.de/en/studies/before-your-studies/application-and-acceptance/english-language-skills/

Academic requirements

Applicants must hold a Bachelor's degree in mathematics or an equivalent qualification in a similar field of study.
Applicants are qualified if they can show proof of academic achievements that are equivalent to the qualification obtained in the Bachelor's degree programme in mathematics offered by TUM and that meet the requirements of the respective Master's degree programme.

Enrolment fees

Approx. 115 EUR per semester, the fee includes a semester ticket covering public transport in Munich.

Costs of living

In order to cover personal expenses while studying in Munich, we recommend a budget of at least 800 EUR per month.

Job opportunities

There are various job opportunities as teaching assistants and research assistants at the university.
Munich is also a very good place to find internships, e.g. with banks, insurance, software or consulting companies, as well as in the research and development departments of large corporations.

Funding opportunities within the university

http://www.tum.de/en/studies/fees-and-financial-aid/scholarships/

Arrival support

TUM's International Center offers a special programme tailored for international students, TUMinternational (TUMi). The TUMi programme provides help and advice for new students as well as a cultural programme with events scheduled both prior to and during the academic periods.
The service desk of the Student Service Center is the first contact point for international students. We are here to help you with issues such as applications, enrolment, student cards etc. Furthermore, we offer various three- to six-week summer schools combining academics with a rich menu of educational and social activities as a foretaste of university life. For international students who have been admitted to a degree programme, the Student Service Center offers a four-week pre-study course designed to help you get started at the TUM. Students new to TUM are invited to the service fair "Fit for TUM" which takes place before the semester officially starts, to get an overview of the various offerings of support services at TUM. http://www.tum.de/en/studies/international-students/
Learning German: While the language of instruction for many of TUM's postgraduate programmes is English, learning German and thus being able to participate in daily German life at a deeper level enriches the experience of studying and living in Munich. As such, TUM's Language Centre offers language classes for students at all levels, both prior to and during the semester: http://www.sprachenzentrum.tum.de/en/startseite/

Services and support for international students

In addition to support services offered by TUM International Center and the Student Service Center (SSZ), the faculty also has its own adviser for international students.

Accommodation

It is not easy to find a place to live in Munich - but it is not impossible either! TUM supports students and employees in their search for accommodation, providing personal advice, in-house listings and useful information to ensure that you can quickly find a place to call your own: http://www.tum.de/en/university-life/accommodations/
With high rents and not enough rooms in halls of residence, the Munich rental market is one of the most competitive in Germany - especially for students. The city boasts over 1.4 million inhabitants, with more people moving to Munich every year - many of them attracted by the excellent study opportunities that Munich has to offer.
Student halls of residence usually offer affordable accommodation for students. The Munich Student Union runs most of these halls of residence - more information at http://www.studentenwerk-muenchen.de/en/accommodation/