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Financial Mathematics

Language of instruction

lithuanian

Qualification degree and (or) qualification to be awarded

Bachelor of Mathematical Sciences

Place of delivery

Vilnius, Universiteto g. 3, LT-01131
Vytauto g. 84, LT-762352, Šiauliai

Institution that has carried out assessment

Studijų kokybės vertinimo centras

Institution that has performed accreditation, accreditation term

Studijų kokybės vertinimo centras, 8/31/2020

Data provided or updated (date)

5/5/2022

Order on accreditation

SV6-36
More about programme

Institutions providing this programme

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Programmes granting same qualifications

Summary of the Profile

General Description:
Objective(s) of a study programme:
The goal of this program is to educate and develop socially responsible specialists, who are able to combine the acquired and integrate new fundamental knowledge of mathematics, interdisciplinary financial, insurance and information technologies, to use them for the formation and development of competences necessary for interdisciplinary studies, scientific research or professional (of actuary, finances and/or operations research analyst, insurance specialist) activity; have developed skills of critical mathematical thinking, able to responsibly, expeditiously and critically work, make justified decisions, convey professional information.
Learning outcomes:
Generic competencies developed:
Ability to think abstractly and critically, to comunicate in mathematical language. Ability to work independently and in a group, to learn constantly.
Subject specific competencies developed:
Ability to awareness the mathematical propositions and their proofs, to construct and prove new statements, to discuss on mathematical issues. Ability to apply the knowledge and the most advanced methods of mathematics, financial, financial risk management and insurance mathematics in practice, to select and substantiate the alternatives for solving of identified theoretical and practical problems. Ability to use professionally information technologies. Ability to collect, process and to analyse data of subject area for the investigation of real processes, to assess the results and relevance of a method.
Learning outcomes:
Bachelor of Financial Mathematics Study Programme manifests inter-disciplinary knowledge and in-depth understanding (professional applicability of the acquired knowledge) of mathematics, finance, insurance, economic and IT. The graduate is able to analyze the economic situation and financial markets, to identify and assess the determining factors and identify risks, to provide appropriate measures for problem solution; he/she is able to formalize real tasks and create their mathematical models, to choose well-known mathematical and economic decision-making method, techniques and tools, to apply them and to provide computer realization; the graduate can offer a variety of good life, health, property and pension insurance methods and encourage to find optimal strategies for various insurance contracts characteristics as well as assess insurance contract parameters.
Activities of teaching and learning:
Traditional, interactive, delivered by visiting teaching staff (practitioners) lectures, practical classes, laboratory works, practical tasks, individual consultations, literature analysis, case study, reflection etc. The Programme aims at problem-based teaching and active participation of students in the study process: aiming to solve as many as possible tasks simulating true-to-life situations, to model real phenomena, to create a discussion-friendly environment, to activate group work. Independent individual and group work of students is focused on development of professional competences and practical activities, detailed understanding of applicability of obtained knowledge based on analysis of scientific literature, insights, critical thinking. Students independently prepare for laboratory works and their defence, examinations, write the graduation theses, perform practical placement.
Methods of assessment of learning achievements:
To assess knowledge and abilities, a ten-point criteria-based scale and an accumulative assessment scheme are applied. Correspondence of achieved outcomes to the outcomes of a study subject is assessed through interim assignments (tests, laboratory works, colloquia, group and individual assignments, independent work, self-assessment and peer assessment) and examination. The final assessment (mark) consists of a sum of all assigned assessments multiplied by value coefficients.
Framework:
Study subjects (modules), practical training:
The subjects of basic mathematics (35%), its applications and interdisciplinary subjects (50%), and subjects in the field of informatics (15%) make the core of Financial Mathematics Study Programme (total volume – 165 credits). More than half of the subjects (eg. Econometrics, Mathematical Modelling and Analysis, Actuarial Mathematics, Finance Time Series, Computer Statistics, Methods of Optimization etc.) are intended for the specialized knowledge and abilities necessary for specialists of financial and insurance mathematics. This part covers theoretical, practical and professional subjects orientated to the acquisition, consolidation and deepening of knowledge, competences and values necessary for academic (further studies) and professional activity; formation of research, subject-specific and social abilities. The Practice (15 credits) and preparation of Bachelor Thesis (15 credits) are for the acquisition of practical knowledge and of research activities. The student himself chooses the direction for the final Bachelor Thesis. He/she is able to manage the knowledge of selected sphere, has acquired the necessary abilities and has sufficient experience of analytic and research work in the field of mathematics studies. General University Study Subjects (15 credits) develop general erudition, form moral values, ability to think critically, to foresee the possibilities of competence development in Bachelor’s studies and lifelong learning.
Specialisations:
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Optional courses:
-
Distinctive features of a study programme:
Practice is carried out in logistics and business enterprises, financial institutions (banks, insurance companies) and in the state institutions (eg. "Sodra", "Center of Registers", "National Health Insurance Fund", State Tax Inspectorate). Part of the studies (up to 30%) may be delivered in a distance mode. High rates of employability - all graduates work after a half a year after graduation.
Access to professional activity or further study:
Access to professional activity:
The acquired qualification degree enables to work as a financial and insurance analyst, an actuary, a model-designer for business optimization, an investment consultant for banks, investment and pension funds, stock exchanges, insurance companies, logistics and business enterprises, as well as for public sector, research centres and for other areas requiring high standard of academic mathematics, IT and economic knowledge, and high standard of professional knowledge application to practice.
Access to further study:
Access to the second cycle studies upon meeting requirements set by the accepting higher education institution. Studies in Pedagogical study programme to obtain the professional qualification of a teacher.