Mathematical Finance and Actuarial Science

Mathematical Finance and Actuarial Science at the Technical University of Munich is a comprehensive and innovative master's program designed to prepare students for careers in the financial and insurance industries. This interdisciplinary program combines rigorous mathematical methods with practical applications in finance, risk management, and actuarial sciences, equipping graduates with the analytical skills and theoretical knowledge necessary to excel in dynamic and complex environments.

The curriculum covers a wide range of topics, including stochastic processes, quantitative risk management, financial modeling, actuarial mathematics, and data analysis. Students will gain a deep understanding of market behaviors, pricing of financial instruments, and the calculation of insurance reserves, all grounded in advanced mathematical concepts. The program emphasizes both theoretical foundations and practical skills, providing numerous opportunities for hands-on experience through case studies, computer simulations, and internships.

In addition to coursework, students have access to state-of-the-art computational tools and software used in the industry, ensuring they are well-prepared for the technological demands of the modern financial and actuarial fields. The program also fosters strong connections with leading companies and organizations, offering networking opportunities, guest lectures, and potential collaborations on real-world projects.

Graduates of this master's program are highly qualified for roles such as financial analyst, risk manager, actuarial consultant, or quantitative researcher. They are also well-positioned for doctoral studies or specialized certifications in financial mathematics and actuarial sciences. The program's international orientation attracts students from around the world, creating a diverse and vibrant academic community.

Overall, the Mathematical Finance and Actuarial Science program at TUM aims to develop highly competent and innovative professionals who can contribute to solving complex financial and insurance-related challenges. The program's combination of rigorous mathematics, applied knowledge, and industry relevance makes it an excellent choice for ambitious students seeking a challenging and rewarding career path in these fields.

• Composition and Function of the Human Body
• Society and Communication
•  Fundamental Competences in Psychology and Pedagogy
• Human Movement Science and Biomechanics
• Basic Skills of Science
• Composition and Function of the Human Body II
• Science of Training 
•  Learning and Behavior
• Training and Human Movement I
• Research Methodologies I 
• Principles of Nutrition 
• Sports Medicine
• Sport Management
•  Training and Human Movement II 
• Applied Sport Psychology
• Sports Biology

• Preliminary inspection documentation
• Copy of a (foreign) school leaving certificate or examination which qualifies the applicant to study at an institution of higher education in Germany (="Abitur"),
• Certified translation of the above document
• Motivational letter
• Curriculum vitae
• Proof of German language proficiency
• Proof of English language proficiency. 

Want to improve your English level for admission?

Prepare for the program requirements with English Online by the British Council.

• ✔️ Flexible study schedule
• ✔️ Experienced teachers
• ✔️ Certificate upon completion

📘 Recommended for students with an IELTS level of 6.0 or below.

Enroll in the course

The Technical University of Munich offers a comprehensive programme in Mathematical Finance and Actuarial Science that includes various financing options to support students throughout their studies. Tuition fees at TUM are competitive and are designed to promote accessible higher education; however, specific fees for international students may vary and should be checked on the official university website. In addition to standard tuition, students may be responsible for semester contributions that cover administrative costs, student services, and public transportation. Funding opportunities at TUM include scholarships, which are awarded based on academic performance, financial need, or specific criteria set by donors. The DAVID scholarship and Deutschlandstipendium are among the available options, providing financial aid to outstanding students. Students are encouraged to apply early for these scholarships, which can significantly offset living expenses and tuition costs. The university also works closely with various loan programs and external financial aid providers to ensure students have access to necessary funding. Part-time employment is another viable option for many students, as TUM's location in Munich offers numerous opportunities in research, internships, and student assistant positions, allowing students to earn income while gaining practical experience. The university's proximity to the thriving financial and insurance sectors in Munich provides additional internship opportunities, which can be beneficial for practical learning and future employment prospects. Moreover, TUM offers guidance and support services to help students navigate financial planning and management, including workshops, advising, and resources on budget management. For international students, there are specific grants and funding schemes aimed at easing their transition and supporting their academic journey. Overall, the financing options for students in Mathematical Finance and Actuarial Science at TUM are diverse, aiming to make higher education accessible and affordable while providing pathways to professional development through scholarships, employment, and external funding resources.

The Mathematical Finance and Actuarial Science programme at the Technical University of Munich is a rigorous interdisciplinary degree designed to prepare students for careers in finance, insurance, and risk management sectors. The curriculum combines advanced mathematical theories, statistical methods, and economic principles to equip graduates with the analytical tools necessary for modeling, analyzing, and solving complex financial and actuarial problems. Students will engage with topics such as stochastic processes, financial mathematics, actuarial modelling, insurance mathematics, and quantitative risk management, all taught by leading experts in the field. The programme emphasizes practical application through project work, internships, and collaboration with industry partners, aiming to bridge the gap between theoretical knowledge and real-world practice. Participants will also develop strong programming skills, particularly in languages like R, Python, and MATLAB, which are crucial for data analysis and model implementation in professional settings. The degree prepares students for professional certifications such as the Swedish Actuary Exam and serves as a strong foundation for doctoral studies. The programme encourages a global outlook, fostering cross-cultural communication and teamwork, and often includes exchange semesters or double degree options with international partner universities. Graduates of the programme are well-positioned for employment in financial institutions, insurance companies, consultancy firms, and regulatory agencies, where their expertise in quantitative finance and actuarial science is highly valued. The university provides state-of-the-art facilities, research centers, and a vibrant academic community that supports innovative research and intensive learning. Admission requirements typically include a strong background in mathematics, statistics, and economics, along with proficiency in English. The programme duration is typically four semesters for the consecutive Master's degree. It aims to cultivate analytical thinking, problem-solving skills, and ethical responsibility among students, preparing them for the demanding and evolving landscape of finance and actuarial professions in Europe and beyond.