INSTITUTE OF APPLIED MATHEMATICS

MSc without Thesis in Actuarial Sciences

  • Compulsory Courses

    Credit: 3(3-0); ECTS: 8.0

    Basic concepts of probability in sense of risk theory, Introduction to risk processes (claim number process, claim amount process, total claim number process, total claim amount process, inter-occurrence process), Convolution and mixed type distributions, Risk models ( individual and collective risk models), Numerical methods ( simple methods for discrete distributions, Edgeworth approximation, Esscher approximation, normal power approximation), Premium calculation principles, Credibility Theory, Retentions and reinsurance, Ruin theory, Ordering of risks.

    See the course in IAM Catalogue or METU Catalogue

    Credit: 3(3-0); ECTS: 8.0

    Definition of risk, insurance and surety. Risk management techniques and some applications in real life problems. Economic and social significance of insurance. Laws of agency, contract, and negligence and their applications to insurance. Types, scope and organization of insurance companies. Construction of policies including limitations on recovery. Underwriting, marketing, rating and regulation of insurance. Covers the principles of risk management, property-liability insurance and life health insurance. Insurance regulations, laws, and insurance practice in Turkey.

    See the course in IAM Catalogue or METU Catalogue

    Credit: 3(3-0); ECTS: 8.0

    The theory of compound interest: Effective and nominal interest rates, present values, annuities. Survival distributions and life tables. Life Insurance: Level benefit insurance, endowments, varying level benefit insurance. Life annuities. Benefit premiums. Benefit reserves.

    See the course in IAM Catalogue or METU Catalogue

    Credit: 3(3-0); ECTS: 8.0

    Risk theory analysis of pension funds. Valuation of pension plans. Terminal funding. Multiple Decrement models. Actuarial cost methods for retired and for active and retired lives pension funding.

    See the course in IAM Catalogue or METU Catalogue

    Credit: 3(3-0); ECTS: 8.0

    Insurance models including expenses. Special annuities and insurance. Advanced multiple life theory. Population theory. Interest as a random Variable.

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    Credit: 0(0-2); ECTS: 20.0

    M.S. students working on a common area choose a research topic to study and present to a group under the guidance of a faculty member.

    See the course in IAM Catalogue or METU Catalogue

    Credit: 0(0-2); ECTS: 10.0

    This course is designed to provide students with a chance to prepare and present a professional seminar on subjects of their own choice.

    See the course in IAM Catalogue or METU Catalogue

    5 Elective Courses (Total 30 credits)

See IAM Catalogue for possible elective courses.

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