Bachelor's Programme Financial and Actuarial Mathematics
- Programme Code
UE 033 205 - Bachelor's Programme Financial and Actuarial Mathematics
- Duration of Programme
Bachelor of Science (BSc)
The Bachelor's Programme Financial and Actuarial Mathematics deals with applying mathematical methods to financial and insurance problems. You will learn to create complex models and analyze them with the help of statistics and probability theory.
This involves, for example, the valuation of financial products such as shares, the calculation of risk for life, pension and property insurance, the modeling of random events such as natural disasters and the development of algorithms for trading in financial products.
After graduation, career paths are open to them in the finance and insurance industries, banks and consulting firms. It is also possible to work in research and teaching.
There is no Admission Procedure for the Bachelor's Programmes in Technical Mathematics. Instead, you must familiarize yourself with the contents of the programme before admission in the so-called Programme Preparation and Reflexion Phase before the admission.
After an online survey on your planned choice of programme, you will take part in an interactive subject-specific taster course. If you wish, you can also take part in an individual counseling session.
All information on the Programme-PRe-Phase in the Bachelor's Programmes in Technical Mathematics can be found on the page of the same name.
Further information about the programme
For the Bachelor's Programme Financial and Actuarial Mathematics you should have an interest in mathematics and complex problems. It is an advantage if you have scientific curiosity and the ability to work in a team, and if you like to learn new topics independently. But the most important thing is that you like mathematics, like to understand difficult concepts, can do proofs and think logically in an abstract way.
Apart from the formal conditions for admission, you do not have to meet any other requirements. You must register online in the campus software TISS, opens an external URL in a new window to participate in the Programme-PRe-Phase.
The admission takes place in the admission office of the TU Wien.
If you have any questions about the programme, you can contact the Student Union, opens an external URL in a new window and the Dean's Office of the Faculty of Mathematics and Geoinformation.
The contents of the Programme are divided into different modules. A module consists of individual courses or courses with related content. You must complete these in order to complete the module. Thematically similar modules are combined into examination subjects. These examination subjects appear on the degree certificate with the overall grade achieved upon completion of the programme.
The scope of courses and modules is expressed in ECTS points. One ECTS point represents 25 hours of work.
The Bachelor's Programme Financial and Actuarial Mathematics is composed of the following examination subjects and modules.
The mandatory foundation modules are:
- Orientation and Introduction
- Analysis: Calculus, Higher Calculus and Differential Equations
- Linear Algebra and Geometry
- Numerical Mathematics and Programming
- Measure and Probability Theory and Statistics: Measure and Probability Theory, Statistics and Stochastic Processes
- Actuarial Mathematics: Life Insurance Mathematics, Personal Insurance Mathematics, Property Insurance Mathematics
- Financial Mathematics and Risk Management
- Legal and Economic Foundations: Insurance Contract Law, Insurance Supervision Law, Economic Foundations
In addition, you must complete 18 ECTS from a catalog of Free Electives and Transferable Skills.
Finally, you have to write your Bachelor's thesis.
More detailed information can be found in the curriculum in TISS, opens an external URL in a new window.
In the Bachelor's Programme Financial and Actuarial Mathematics you will deal with stochastic processes, numerical mathematics as well as statistics and probability theory in addition to analysis, linear algebra and geometry.
With a special focus on actuarial mathematics, you will also deal with the topics of life, personal and property insurance mathematics, risk management and financial mathematics as well as insurance law and accounting.
We place special emphasis on creative thinking when solving problems, analyzing and solving complex and abstract issues. You will also learn to recognize patterns and structures and thus develop strategic thinking and an understanding of interrelationships.
Mathematical methods are very important in many areas of technology, business and industry. Thanks to your ability to analyze complex structures, you can work in various professional fields.
As a graduate of Financial and Actuarial Mathematics, you can work in banks and insurance companies, management consultancies, development departments in industry, software companies, research institutes, government agencies and, of course, at universities or other research institutions.
Current job offers can be found on the page https://fam.tuwien.ac.at/jobs/, opens an external URL in a new window.
Currently, we are researching, for example, the following topics:
- Actuarial control problems under stochastic interest: how to estimate and control financial risks when uncertain future events are involved? For example, how to calculate annuities when we do not know for sure how interest rates will evolve in the future.
- Optimal stopping problems with constraints: What decisions must be made when one wants to stop or interrupt a process? One often has to consider various constraints, such as what costs or risks are involved. So it's a matter of making the best decision, taking various factors into account.
TU Wien offers its students the opportunity to spend a semester abroad. The International Office can help and support you with the organization.
Internships are not compulsory in the programme but are possible: If you are scientifically active in a company or research institution for at least 240 hours, we can credit you with 7.5 ECTS in the module Free Electives. This activity must be recognized by the dean of academic affairs.
All students at TU Wien receive a basic education in mathematics in their Bachelor's Programme. Therefore, the Faculty of Mathematics and Geoinformation has a sufficient number of professors, assistants and student assistants who supervise these students. Since a good supervision ratio is important to us, we always provide places for courses according to demand.
In the Bachelor's Programme Financial and Actuarial Mathematics you will spend most of your time at the main location of the Faculty of Mathematics and Geoinformation in the Freihaus building at Wiedner Hauptstraße 8-10.
The programme is supervised by the following institutes:
- Institute of Analysis and Scientific Computing
- Institute of Discrete Mathematics and Geometry
- Institute of Statistics and Mathematical Methods in Economics
After you have completed all required courses and your Bachelor's thesis has been evaluated, you can submit your degree.
As a graduate of the Bachelor's Programme Financial and Actuarial Mathematics, you will be awarded the academic degree "Bachelor of Science" - BSc for short. To find out how to graduate, visit https://www.tuwien.at/en/phy/dekant/study-degree/bachelors-programme
Questions about the Programme?
Student Union Technical Mathematics
Wiedner Hauptstraße 8-10
Room DA01G2, 1st floor
Phone: +43 1 58801 49544
Website of the Student Union, opens an external URL in a new window
Registration for the Bachelor's Programme
For information on admission to the programme, please visit the Programme-PRe-Phase page.
Dean's Office of Faculty of Mathematics and Geoinformation
Wiedner Hauptstraße 8
Phone: +43 1 58801 10003
Website of the Dean's office, opens in new window
Dean of Academic Affairs
Ao.Univ.Prof. Dipl.-Ing. Dr.techn.
Vice Dean of Academic Affairs
Self Assessment Test
To provide you with a realistic self-assessment you can take this self-assessment test, opens an external URL in a new window. The included tests and questionnaires provide you with an overview of the requirements we deem necessary for successful studies.