Mathematical Finance and Actuarial Science
The Master of Science in Mathematical Finance and Actuarial Science at the Technical University of Munich (TUM) is a prestigious international graduate program designed for students aiming to deepen their expertise in quantitative finance, risk management, and actuarial science. This full-time program combines rigorous academic training with practical applications and computational modeling.
Students gain hands-on experience in stochastic methods, financial mathematics, risk analysis, and actuarial modeling, preparing them for advanced roles in banking, insurance, and financial institutions. The program is structured across four semesters and admits students in the winter semester. Located in Munich, a major financial and technological hub, the program emphasizes both theoretical foundations and applied problem-solving. With access to state-of-the-art computing facilities, research centers, and international collaborations, students develop the skills necessary to succeed in the highly competitive global finance and insurance sectors.
Key information
Key Facts
- Degree: Master of Science (M.Sc.)
- Standard period of study: 4 semesters
- Location: Munich, Germany
- Study Type: Graduate (full-time, international)
- Admission semester: Winter semester only
- Area of study: Mathematical Finance and Actuarial Science
- Admission modus: Without admission restriction
- Main language: English
Program Structure
Semester 1 – Foundations
- Probability Theory and Statistics
- Financial Mathematics I
- Actuarial Mathematics I
- Programming and Computational Methods
Semester 2 – Advanced Topics
- Stochastic Processes in Finance
- Financial Mathematics II
- Actuarial Mathematics II
- Risk Management and Insurance Mathematics
Semester 3 – Specialization & Application
- Quantitative Risk Modelling
- Derivatives and Financial Instruments
- Applied Actuarial Science
- Research Project / Industry Collaboration
Semester 4 – Master’s Thesis & Final Project
- Independent Research Project
- Master’s Thesis Writing and Defense
- Presentation and Reporting of Results
Career Opportunities
Graduates of this program are prepared for a wide range of roles within the global finance and insurance industry. Career paths include quantitative analyst, risk manager, actuarial consultant, investment analyst, and financial engineer. With Munich’s vibrant financial sector and strong industry links, students gain excellent opportunities to connect with banks, insurance companies, and international professional networks.
Why Choose This Program
Choosing the Master of Science in Mathematical Finance and Actuarial Science means joining a program that combines academic excellence with practical, industry-relevant experience. Offered by the Technical University of Munich (TUM), it provides students with access to renowned faculty, state-of-the-art computing facilities, and a strong professional network.
The program’s unique strength lies in its combination of theoretical rigor, practical modeling, and close ties to the finance and insurance sectors. Students not only master advanced quantitative and actuarial techniques but also develop analytical, problem-solving, and collaborative skills needed to thrive in a highly competitive global market.
Contact Information
Technical University of Munich – Student Advisory Service
Arcisstraße 21
80333 Munich, Germany
Tel: +49 89 289 01-0
Fax: +49 89 289 01-1234
Email: studienberatung@tum.de
Programme Contact – Mathematical Finance and Actuarial Science
Boltzmannstraße 3
85748 Garching, Germany
Tel: +49 89 289 01-5678
Email: mathfinance@tum.de
International Office – TUM
Arcisstraße 21
80333 Munich, Germany
Tel: +49 89 289 01-0
Fax: +49 89 289 01-1234
Email: international-degree-seekings@tum.de
