Stochastics and Financial Mathematics
Stochastics examines mathematical phenomena in which chance plays a part, such as the result of a general election, the fluctuations in share prices or the interactions of molecules in a living cell. Stochastics can be divided into probability theory and statistics, but also into more specific areas such as stochastic decision-making and financial mathematics.In probability theory, you will study and develop models for stochastic systems, while in statistics you will develop methods to find the most appropriate model for a specific set of empirical data. In financial mathematics, the methods from stochastics are combined with economic theory to arrive at methods for risk management, calculating the price of derivatives and so on. The level of mathematics involved in stochastics is high, especially when it comes to financial mathematics.If you opt for the Master's programme in Stochastics and Financial Mathematics, you will be trained to become an expert at the highest level, both in theory and in areas of application. The emphasis of the programme is on developing the necessary mathematical theory, which forms the universal background to the various applications. With a Master’s in Stochastics and Financial Mathematics under your belt, you can easily find employment in the business world, especially in major finanial institutions. Or you could go on to pursue PhD research in Stochastics and Financial Mathematics.
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