545-0396/04 – Mathematics of Finance and Insurance (FPM)

Gurantor department	Department of Economics and Control Systems	Credits	5
Subject guarantor	doc. Ing. Roman Kozel, Ph.D.	Subject version guarantor	RNDr. Radmila Sousedíková, Ph.D.
Study level	undergraduate or graduate	Requirement	Choice-compulsory
Year	2	Semester	summer
		Study language	Czech
Year of introduction	1998/1999	Year of cancellation	2013/2014
Intended for the faculties	HGF	Intended for study types	Master, Follow-up Master

Instruction secured by
Login	Name	Tuitor	Teacher giving lectures
KOZ99	doc. Ing. Roman Kozel, Ph.D.
ROL74	Ing. Markéta Laštůvková, Ph.D.
PAW34	doc. Ing. Adam Pawliczek, Ph.D.

Extent of instruction for forms of study
Form of study	Way of compl.	Extent
Full-time	Credit and Examination	2+2
Part-time	Credit and Examination	6+6

Subject aims expressed by acquired skills and competences

Analysing short-term and long-term securities and bank accounts, and evaluating their return; assessing insurance products using actuarial mathematics.

Teaching methods

Lectures
Tutorials
Project work
Terrain work

Summary

The subject concerns fundamentals of mathematics of finance and insurance, i.e. simple interest and discount and their application to short-term security analysis, compound interest, annuities, debt amortization, bond and stock analysis and life insurance theory and calculation.

Compulsory literature:

LOVELOCK, D., M, MENDEL and A. L. WRIGHT. An Introduction to the Mathematics of Money: Saving and Investing. New York: Springer, 2010. 300 p. ISBN 978-1441922328.

Recommended literature:

GARRETT, S. J. An Introduction to the Mathematics of Finance: A Deterministik Approach. 2nd ed. Oxford: Butterworth-Heinemann, 2013. 464 p. ISBN 978-0080982403.

Way of continuous check of knowledge in the course of semester

Regular feedback on the progress of knowledge during the current term is provided by semester project.

E-learning

Other requirements

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Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.

Subject syllabus:

1 Simple interest, discount 2 Bill 3 Treasury bill, certificate of deposit 4 Current account, current account credit, discount for prepayment 5 Compound interest, nominal and effective interest rate 6 Combination of simple a compound interest, continuous compounding, real interest rate 7 Annuities, types of annuities, present and future value of annuity 8 Debt amortization 9 Bond analysis 10 Stock analysis 11 Life insurance, life table 12 Life insurance calculation

Conditions for subject completion

Full-time form (validity from: 2012/2013 Winter semester, validity until: 2013/2014 Summer semester)

Task name	Type of task	Max. number of points (act. for subtasks)	Min. number of points	Max. počet pokusů
Exercises evaluation and Examination	Credit and Examination	100 (100)	51	3
Exercises evaluation	Credit	33 (33)	17	3
Project	Project	33	17	3
Examination	Examination	67 (67)	34	3
Written examination	Written examination	40	20	3
Oral	Oral examination	27	14	3

Mandatory attendence participation:

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Conditions for subject completion and attendance at the exercises within ISP:

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Occurrence in study plans

Academic year	Programme	Branch/spec.	Form	Study language	Tut. centre	Year	Type of duty
2012/2013	(N2102) Mineral Raw Materials	(3902T006) Automation and Computers in Raw Industry	P	Czech	Ostrava	2	Choice-compulsory	study plan
2011/2012	(N2102) Mineral Raw Materials	(3902T006) Automation and Computers in Raw Industry	P	Czech	Ostrava	2	Choice-compulsory	study plan
2010/2011	(N2102) Mineral Raw Materials	(3902T006) Automation and Computers in Raw Industry	P	Czech	Ostrava	2	Choice-compulsory	study plan
2009/2010	(N2102) Mineral Raw Materials	(3902T006) Automation and Computers in Raw Industry	P	Czech	Ostrava	2	Choice-compulsory	study plan
2008/2009	(N2102) Mineral Raw Materials	(3902T006) Automation and Computers in Raw Industry	P	Czech	Ostrava	2	Choice-compulsory	study plan
2007/2008	(N2102) Mineral Raw Materials	(3902T033) System Engineering in Raw Materials Industry	P	Czech	Ostrava	2	Choice-compulsory	study plan
2007/2008	(N2102) Mineral Raw Materials	(3902T033) System Engineering in Raw Materials Industry	K	Czech	Most	2	Choice-compulsory	study plan
2006/2007	(N2102) Mineral Raw Materials	(3902T033) System Engineering in Raw Materials Industry	P	Czech	Ostrava	2	Choice-compulsory	study plan

Occurrence in special blocks

Block name	Academic year	Form of study	Study language	Year	W	S	Type of block	Block owner

Assessment of instruction

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