About the education
The aim of the course is to give an overview over some of the most common mathematical methods and models that are used in the financial sector. There are several different kinds of investors in the financial market today; not only companies, banks and other financial institutions but also many private investors with money in funds or other securities. Recently, trade in financial derivatives like options on other securities has increased rapidly. All this has generated an increased demand for knowledge on analysing all complex relationships and questions in a reliable way.
This course is about risk management for financial markets. Concepts treated are interest rate, arbitrage, forwards, options including Black-Scholes formula, optimal portfolios, CAPM and Value at risk.
Subject: Mathematical Statistics
Mathematical statistics is the subject within applied mathematics that describes and analyses random events.
The foundation is the mathematical probability theory, which goes back to the 17th century, but has in its modern form developed mostly during the 20th century. Probability theory is also the foundation of statistical theory on how to draw conclusions from data with random features. The rise of computer technology has also significantly contributed to broadening the field of applications within mathematical statistics. Today is mathematical statistics one of the most powerful tools in applied mathematics.
Examples that apply mathematical statistics to a large extent are the insurance and finance sectors, biological and medical research (biostatistics) and industrial applications like telecommunications and quality control.
The department cooperates closely both in research and teaching with the pharmaceutical industry, medical institutions and banking and insurance companies. Depending on direction of studies, a student with an exam in mathematical statistics has a good chance to get employment in these sectors.
Mathematical statistics can be studied in elective courses, as a major in a Bachelor's or Master's degree or as a complementary subject. Courses cover both theory and applications in various areas. Mathematical statistics is included in the Bachelor's programmes in Mathematics, Biomathematics and Mathematics and Economics and a major in the Master's programmes in Mathematical statistics, Biostatistics, Finance mathematics and Finance and Actuarial science.
Area of interest: Science and Mathematics
Science and mathematics help us understand how the world around us is connected – from the origin and structure of the universe, to the development and function of humanity and all other organisms on earth.
Scientific knowledge makes it possible to critically examine the credibility of information in different areas of everyday life, society, and the media.
As a scientist or mathematician, you will be attractive on a large job market that covers all parts of society and includes everything from pure technology companies to environment and healthcare, as well as research.