Actuarial Sciences Program
Actuarial science is a discipline, which employs mathematics and statistics in modelling of the financial impacts of risk and uncertainty in various sectors and in designing solutions for risk management. In Turkey, there is a high demand to produce knowledge for actuarial analysis and to have well-educated actuaries to deal with modelling real life data problem of actuarial sciences.
Objectives of the Program
The objectives of this program are
- To educate our graduates so that they can make significant contributions to the financial security of individuals through the ability to identify, quantify, assess and manage risk uncertainty,
- To provide students with the knowledge and skills necessary for comprehending and applying actuarial techniques,
- To produce theoretically sound and practical research, which contributes to the advancement of actuarial science and practice,
- To conduct research in practical applications of actuarial, insurance, risk management and risk analysis.
Organization of the Program
The Actuarial Sciences Program offers two options:
- Master of Science Degrees (thesis and non-thesis options).
M.Sc. Thesis option consists of seven courses, a seminar course and a Master's Thesis. M.Sc. Non-Thesis option consists of ten courses, a seminar course and a Term Project. Among these ten courses, seven of them are must courses and three of them are electives.
Core Courses for Actuarial Sciences Program
- IAM 521 Financial Management (3-0)3
- IAM 530 Elements of Probability and Statistics (3-0)3
- IAM 546 Actuarial Risk Theory (3-0)3
- IAM 548 Stochastic Processes for Insurance and Finance (3-0)3
- IAM 582 Life Insurance Mathematics (3-0)3
- IAM 583 Pension Fund Modeling (3-0)3
- IAM 584 Advanced Actuarial Mathematics (3-0)3
- IAM 589 Term Project (3-0)3
- IAM 590 Graduate Seminar (0-2)NC
- IAM 500 M.S. Thesis (Non-credit)
Elective Courses for Actuarial Sciences Program
- M.Sc Non-thesis option student should choose at least two courses from the following:
- IAM 547 Risk Management and Insurance (3-0) 3
- IAM 552 Credibility Theory (3-0) 3
- IAM 555 Statistical Decision Theory (3-0) 3
- IAM 558 Reinsurance Theory (3-0) 3
- M.Sc Non-thesis option student should choose one course from the following as well as choosing two course from Part A to complete the 3 elective courses requirement of the program they are enrolled:
- IAM 520 Financial Derivatives (3-0) 3
- IAM 522 Stochastic Calculus for Finance (3–0) 3
- IAM 524 Financial Economics (3–0) 3
- IAM 526 Time Series Applied to Finance (3–0) 3
- IAM 541 Probability Theory (3–0) 3
- IAM 554 Interest Rate Models (3–0) 3
- IAM 556 Simulation (3–0) 3
- IAM 557 Statistical Learning and Simulation (3–0) 3
- IAM 585 Decision-Making under Uncertainty (3–0) 3
- BA 5514 Risk Management (3-0)3
- BA 5814 Investment Management (3–0) 3
- BA 5818 Analysis of Financial Statements (3–0) 3
- ECON 507 Econometric Methods I (3-0) 3
- ECON 508 Econometric Methods II (3-0) 3
- ECON 510 Turkish Economy (3-0) 3
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M.Sc. Program-Thesis Option
- 7 core courses
- 1 seminar course(non-credit)
- M.Sc. Thesis(non-credit)
Total : 21 credits
M.Sc. Program-Non-Thesis Option
- 7 core courses
- 3 elective courses
- 1 seminar course(non-credit)
- Term Project(non-credit)
Total : 30 credits