If we were to fail to understand, describe and control risk, the financial consequences for banks, insurance companies, and other industries could be truly significant.
In the programme option Finance, insurance and risk we specialize in the analysis and control of various forms of risk. We use the precise language of mathematics to describe systems and risk factors, then we combine it with economics to formulate reasonable models. Statistics and probability theory are used together to capture uncertainty and describe randomness. A strong mathematical platform is needed to deal with modern finance, energy or Insurance.
You can explore several different mathematical research areas
Mathematical Finance
You learn about stochastic analysis and learn how probability theory and mathematical analysis are used to create dynamic model pricing, manage portfolios, understand the modern investment theory, study financial options and derivatives, and analyse financial risk.
We also look at how different factors, like the weather, affect financial systems such as commodity and energy markets. In addition, you learn to combine mathematics and statistics to describe markets for stocks, bonds, commodities and energy.
Insurance
You will learn about life and non-life insurance. You are introduced to how insurance companies operate in the financial markets nowadays and how modern mathematical finance plays along with the traditional insurance theory.
A master's degree with a specialization in Mathematical Finance or Insurance gives you chances of qualification for the certification as actuary (in Norwegian).
Risk and Reliability analysis
You build up more general expertise in dealing with uncertainty in technical and financial systems. For example, using advanced statistical methods, you shall learn how the oil industry analyses the risks in its operations.