Actuarial and Financial Sciences

General goals The main goal of the course is to introduce advanced random processes and probabilistic tools that are particularly useful in quantitative finance and actuarial sciences. Knowledge and understanding By the end of the course, students will be able to understand the meaning of random patterns (e.g., with jumps) arising in the study of financial and insurance topics. Applying knowledge and understanding Students will acquire the skills necessary to model complex phenomena through the theoretical concepts explored in depth during the lectures. In particular, the advanced stochastic analysis tools studied during the course will enable students to address some actuarial and financial issues. Making judgements By the end of the course, students will be able to critically analyze phenomena that evolve randomly over time and are subject to random shocks. Furthermore, students will develop the sensitivity necessary to choose models best suited to the study of such complex systems. Communication skills Students will develop communication skills useful for describing random phenomena through the language of mathematics and probability. These skills will emerge through understanding the intuitive aspects related to the mathematical tools underlying stochastic processes. Learning skills Students during the course will study stochastic concepts and methods that will enable them to understand subsequent courses in finance and actuarial sciences.