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

Gurantor departmentDepartment of Economics and Control SystemsCredits5
Subject guarantordoc. Ing. Roman Kozel, Ph.D.Subject version guarantorRNDr. Radmila Sousedíková, Ph.D.
Study levelundergraduate or graduateRequirementChoice-compulsory
Year2Semestersummer
Study languageCzech
Year of introduction1998/1999Year of cancellation2013/2014
Intended for the facultiesHGFIntended for study typesFollow-up Master, Master
Instruction secured by
LoginNameTuitorTeacher 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 studyWay of compl.Extent
Full-time Credit and Examination 2+2
Combined 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

Další požadavky na studenta

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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 nameType of taskMax. number of points
(act. for subtasks)
Min. number of points
Exercises evaluation and Examination Credit and Examination 100 (100) 51
        Exercises evaluation Credit 33 (33) 17
                Project Project 33  17
        Examination Examination 67 (67) 34
                Written examination Written examination 40  20
                Oral Oral examination 27  14
Mandatory attendence parzicipation:

Show history

Occurrence in study plans

Academic yearProgrammeField of studySpec.FormStudy language Tut. centreYearWSType 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 nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner