2020 08 21 Financial and Actauarial mathematics

About the programmme

Lenght of studies 1.5 years Language English
Scope of studies 90 ECTS credits Tuition fee per year 5 000€ */ 4 787€ **
Qualification awarded Master in Mathematical Sciences Start of studies 01 September
Next application period 01 January - 1 June/15 July* Application deadline 1 June* / 15 July**

 * For applicants from non-EU/EFTA countries
** For applicants who do not need a Lithuanian visa and non-EU/EFTA applicants, if there is a Lithuanian embassy in their home country

 

The purpose of Financial and Actuarial Mathematics programme is high-profile education in financial and actuarial mathematics with an emphasis on theoretical foundation of various methods and techniques of probability theory, stochastic analysis, risk theory, and related fields. Graduates of the programme are qualified to analyze and solve problems in theoretical models of finance and insurance, with implementation of obtained solutions in practice. 

Why this programme?

  • The programme provides a solid high-level theoretical foundation needed to understand and apply state-of-the-art research results in practice. Students learn the possibilities and restrictions of popular financial and actuarial models, tools and ideas.
  • The Financial and Actuarial Mathematics Master’s program develops competencies needed for the international labour market; in particular, the brightest students are strongly encouraged to pursue academic careers.

What's after?

  • Work in the insurance companies, banks, pension and investment funds, consulting firms, government agencies, etc. (e.g., as actuaries, financial analysts, risk assessors, consultants both for Lithuanian and foreign institutions supervising financial and insurance markets).
  • The graduates can also pursue further studies at the doctoral level in Mathematics and/or Statistics.

Student testimonials

2020 12 07 MIF arita priedniece LVArita Priedniece, student from Latvia

I have chosen this programme and university because it has old, strong education traditions, and is known widely. Vilnius University is the first in Lithuania according to national ranking. The second thing I would like to mention is that this program perfectly fits my career aims and life goals. Also, I wanted to have my master abroad to gain international experience.
I am really satisfied with my choice and I don’t regret it. My professors are professional in their fields because their teaching and communication style are easy and understandable in each situation. My courses mates are really nice and friendly people. It is not easy to study in MIF, but I can say that it is really challenging and interesting. I think it is worth having this kind of life experience.

Programme specific requirements

  • At least first level studies leading with a bachelor diploma are required.
  • English language proficiency - the level not lower than B2 (following the Common Framework of Reference for Language approved by the Council of Europe).
  • Assessment of motivation is held by electronic means remotely.

In addition, all applicants have to fulfil general admission requirements.

Programme structure

Course unit title
ECTS credits

I YEAR

60

SEMESTER 1

30

Compulsory courses

25

Financial Technology Models

5

Probability Theory and Mathematical Statistics

10

Selected Chapters of Analysis

5

Stochastic Analysis

5

Elective courses*

5

Time Series Analysis

5

Statistical Learning

5

SEMESTER 2

30

Compulsory courses

20

Life Insurance and Pension Funds

10

Risk Management

5

Risk Theory

5

Elective courses*

10

Asset Allocation

5

Big Data Analysis

10

Deep Learning

5

Discrete Market Models

5

Java Technologies

5

Mathematics in Modern Finance

5

Multidimensional Data Visualization

5

Stochastic Models of Financial Mathematics 

5

II YEAR

30

SEMESTER 3

30

Compulsory courses

30

Final Thesis

30


*Available elective courses might vary from year to year.

DOWNLOAD FULL PROGRAMME CURRICULUM 

Contacts

Do you have any questions? Contact:

  • Email:
  • Tel.: +370 5 219 3053
  • Address: Naugarduko str. 24, 122B

Study Programme Committee

Martynas Manstavicius

Chair of the Study Programme Committee - Assoc. Prof. Dr. Martynas Manstavičius

  • Assoc. Prof. Dr. Sigitas Dapkūnas;
  • Prof. Habil. Dr. Remigijus Leipus;
  • Prof. Habil. Dr. Vigirdas Mackevičius;
  • Senior. Reserch. Dr. Viktor Medvedev;
  • Asist. Dr. Aldona Skučaitė;
  • Prof. Dr. (HP) Jonas Šiaulys;
  • Partn. Prof. Dr. Gintaras Bakštys, Social Partner Representative „ERGO Life Insurance SE“;
  • Two Students Representatives.