Programme structure

The programme option Finance, insurance and risk has three specializations:

• Mathematical finance and energy
• Insurance
• Risk and Reliability Analysis

The first semester of the Master's programme starts with courses that gives you a foundation for further specialization towards the Master's thesis. Then the structure of the programme is divided depending on whether you want a short or a long Master's thesis.

• The short Master's thesis consists of 30 ECTS credits, and in addition you will take a total of 90 ECTS credits with courses. During the second and the third semester, courses will be chosen from the list of recommended courses for the programme option within specialization chosen. In the third semester, after consulting with your supervisor, you will define the topic for your Master's thesis, which will be finalized during the fourth semester.
• A long Master's thesis consists of 60 ECTS credits, and in addition you will take a total of 60 ECTS credits with courses. As illustration, you can start your Master's thesis already in the second semester, for an amount of 10 ECTS credits, while taking courses from the recommended list of courses within your specialization. The courses should be planned together with your supervisor. In the third semester you can take 20 ECTS credits for your work in the thesis and 10 on courses. Last semester you only work with the Master's thesis. Another example for a long thesis is to work full time on the thesis in the third and fourth semester.

Courses and Master's thesis depend on the specialization. The choice of Master's thesis is carried through in consultation with your supervisor. Please see the list of courses.
 

Specialization Mathematical Finance

Recommended course of study:

4. semester	Master's thesis	Master's thesis	Master's thesis
3. semester	Master thesis/Course	Master's thesis/Course	Master's thesis/Course
2. semester	Master's thesis/Course	Course	MAT4750 ¨C Mathematical Finance: Modelling and Risk Management /  MAT4770 ¨C Stochastic Modelling in Energy and Commodity Markets
1. semester	Course	STK-MAT4710 ¨C Probability Theory	MAT4720 ¨C Stochastic Analysis and Stochastic Differential Equations
	10 ECTS credits	10 ECTS credits	10 ECTS credits

Mandatory courses:

• STK-MAT4710 ¨C Probability Theory
• MAT4720 ¨C Stochastic Analysis and Stochastic Differential Equations

In addition, one of these:

• MAT4750 ¨C Mathematical Finance: Modelling and Risk Management
• MAT4770 ¨C Stochastic Modelling in Energy and Commodity Markets

Recommended courses:

Specialization Insurance

Recommended course of study:

4. semester	Master's thesis	Master's thesis	Master's thesis
3. semester	Master's thesis/Course	Master's thesis/Course	Master's thesis/Course
2. semester	Master's thesis/Course	Master's thesis/Course	STK4500 ¨C Life Insurance and Finance
1. semester	STK-MAT4700 ¨C Introduction to Mathematical Finance and Investment Theory	STK4540 ¨C Non-Life Insurance Mathematics	STK4505 ¨C Problems and Methods in Actuarial Science
	10 ECTS credits	10 ECTS credits	10 ECTS credits

Mandatory courses:

• STK4500 ¨C Life Insurance and Finance
• STK4505 ¨C Problems and Methods in Actuarial Science (If you have taken STK3505 ¨C Introduction to Insurance Mathematics, you are exempted from this requirement).
• STK4540 ¨C Non-Life Insurance Mathematics
• STK-MAT4700 ¨C Introduction to Mathematical Finance and Investment Theory. If you have taken STK-MAT3700 ¨C Introduction to Mathematical Finance and Investment Theory, you are exempted from this requirement. Students who previously have taken MAT2700 ¨C Introduction to mathematical finance and investment theory (continued) is exempted, but must get it approved in the agreement for the master study.

Recommended courses:

• STK4021 ¨C Applied Bayesian Analysis
• STK4060 ¨C Time Series
• STK4080 ¨C Survival and Event History Analysis
• STK4150 ¨C Environmental and Spatial Statistics
• STK4400 ¨C Risk and Reliability Analysis 
• STK4405 ¨C Introduction to Risk and Reliability Analysis 
• STK4530 ¨C Interest Rate Modelling via SPDE's
• STK4550 ¨C Extreme value statistics and large devia-tions
• STK-MAT4710 ¨C Probability Theory 
• STK-IN4300 ¨C Statistical Learning Methods in Data Science

 

Specialization Risk and Reliability analysis

Recommended course of study:

4. semester	Master's thesis	Master's thesis	Master's thesis
3. semester	Master's thesis/Course	Master's thesis/Course	Master's thesis/Course
2. semester	STK4021 ¨C Applied Bayesian Analysis	STK4400 ¨C Risk and Reliability Analysis	Course
1. semester	Course	Course	Course
	10 ECTS credits	10 ECTS credits	10 ECTS credits

Mandatory courses:

• STK4405 ¨C Introduction to Risk and Reliability Analysis. (If you have taken STK3405 ¨C Introduction to Risk and Reliability Analysis, you are exempted from this requirement).
• STK4400 ¨C Risk and Reliability Analysis
• STK4505 ¨C Problems and Methods in Actuarial Science (If you have taken STK3505 ¨C Introduction to Insurance Mathematics, you are exempted from this requirement).

Recommended courses:

• STK4021 ¨C Applied Bayesian Analysis
• STK4060 ¨C Time Series
• STK4080 ¨C Survival and Event History Analysis
• STK4150 ¨C Environmental and Spatial Statistics
• STK4500 ¨C Life Insurance and Finance
• STK4540 ¨C Non-Life Insurance Mathematics
• STK4550 ¨C Extreme value statistics and large devia-tions
• STK-MAT4700 ¨C Introduction to Mathematical Finance and Investment Theory 
• STK-MAT4710 ¨C Probability Theory 
• STK-IN4300 ¨C Statistical Learning Methods in Data Science
• ENERGI4010 ¨C B?rekraftig energiomstilling

 

Department of Mathematics deadlines for Master's studies.