• Fin 320: Financial statement analysis. Interest rates and valuing cash flows (TVM; valuing stocks and bonds). Investment decision rules and capital budgeting. Risk and return (CAPM) and cost of capital.
• Fin 360: Analysis of the risk management process, introduction to property and liability insurance, employee benefits and financial planning. Overview of the insurance industry and insurance problems.
• Fin 415: The theory of interest in both finite and continuous time; the use of various annuity functions as a basis for reserving, valuation, pricing, duration, asset/liability management, amortization schedules and measurement of fund performance; term structure of interest rates.
• Math 335: Probability theory; discrete, continuous and multivariate probability distributions, independence, conditional probability distribution, expectation, moment generating functions, functions of random variables and the central limit theorem.
• Math 338: Introduction to the theory and application of statistics. Elementary probability, estimation, hypothesis testing, regression, variance analysis, non-parametric tests. Computer-aided analysis of real data. Graphical techniques, generating and interpreting statistical output, presentation of analysis.
• Math 435: Introduction to mathematical statistics, emphasizing statistical estimation and hypothesis testing. Theory and applications. Begin with a condensed review of fundamental concepts from MATH 335; particularly, important discrete and continuous probability distributions.
• Math 437: Nonparametric statistical inference, including methods based on rank and order; resampling, including bootstrap; smoothing histograms, including kernel and smoothing-spines; clustering with logistic and multinomial models, hierarchical clustering and k-means; inference based on posterior distributions, learning and neural networks. (3 hours lecture, 2 hours activity)
• Math 460: Typical loss models used in the fields of insurance and actuary. Policy deductibles, limits, inflation, co-insurance on expected loss. MLE, method of moments, Bayesian method for estimating parameters when data are complete or censored. Credibility theory, methods for determining reserve.
• Math 461: Continuous and discrete future lifetime random variables. Survival models. Mortality tables. Expected present values of life insurances and annuities. Premium and reserve calculations. Option pricing using binomial tree and Black-Scholes models.