Czech

6

Not applicable.

Using acquired knowledge student will be able to understand the principle and function of financial decision-making. Acquired skills will be applied to modelling of financial and actuarial phenomena and solving basic problems in these fields by simple mathematical methods (interest running, discount, savings, earnings; interest rates for various interest periods; repayment of the loan; market price of obligations and stocks; insurance operations).

Basic university courses on mathematics: percentage, algebra (properties of elementary mathematical objects, solving equations and inequalities etc.), functions (basic terms, properties and graphs of elementary functions, numerical computation function values at points, especially linear, linear fractional, exponential and logarithmic function), expressions modification, calculations, sequences and series (basic concepts, characteristics, relationships, especially arithmetic and geometric sequence, infinite geometric series), average (arithmetic, geometric, harmonic).
The use of mathematical software for computation, visualization, simulation and others.
Orientation in basic categories of economic and financial environment (basic university study courses).

Not applicable.

The course contains
- lectures that explain basic principles, problems and methodology of the discipline, repectively the solving of typical examples and tasks;
- exercises that promote the practical knowledge of the subject presented in the lectures.

Conditions for awarding the course-unit credit:
1. professional activity is indicative of student preparation for seminars (evaluated by the teacher), the attendance is compulsory,
2. working out of regularly assigned tasks and a (team) semester project;
3. successful completion of a test at pre-determined schedule date (evaluation A – E), students have right to use one regular and one repetative term of the test.

The course-unit credit is a necessary prerequisite for the examination.

Conditions for exam:
Exam demonstrates knowledge of taught topics and its practical application. Form of examination: combined – a written test and an oral examination. Written test – cca 60 minutes. The core of exams the written part (student must prove at least basic knowledge in any given task).

Oral examination follows the written part and it used to more accurate results the classification. An overall classification depends on the degree of accuracy of working of written replies and the oral part of the exam.

For the test are admitted only students who are logged in to the BUT system, and who are written in the credit BUTsystem. Classification methods depend on the BUT Rules for Studies and Examinations using the ECTS grading scale.

1. Mathematical means (percentage, function, numerical aspect, sequences and series, averages, software - computing, visualization, simulation)
2. Simple and compound interest and its applications, basic concepts, combinations
3. Savings - short term, long term and their combinations
4. Time value of money, investment decisions (income taxes, depreciation and amortization, present value, payback period)
5. Rents - basic concepts, temporary retirement, eternal, and the postponement of their value
6. Loans, loans for debt amortization, annuity, installment plan
7. Bonds, basic terms, types of bonds, the price of a return to the bond maturity
8. Stocks, basic concepts, basic and loan capital, stocks price
9. Analysis of the portfolio (financial risk, portfolio construction)
10. Pojištění, životní pojištění (základní pojmy, současná hodnota pojištění)
11. Pension funds, basic terminology situation in the Czech Republic
12. Reserves
13. Summary and preparation for the exam

Not applicable.

The aim of the course is to introduce students the basic concepts and relations in the field of financial and actuarial mathematics and mathematical methods, real examples, and thus to deal in more detail with the causal substance of relations and to develop abilities and skills necessary to express relations by exact means in these fields.

Attendance at lectures is not compulsory, but is recommended. Attendance at exercises (seminars) is compulsory and is regularly checked. A student is obliged to give reasons for his/her absence. If the teacher accepts the reason for the absence (which is completely under his/her competence), he/she will decide about the form of the compensation for the missed lessons individually.

Not applicable.

Not applicable.

CIPRA, T.: Praktický průvodce finanční a pojistnou matematikou. Vyd. III. Praha: Ekopress. 308 s. 2015. ISBN: 978-80-87865-18-7. (CS)
RADOVÁ, J., DVOŘÁK, P. and MÁLEK, J.. Finanční matematika pro každého. 8. rozšířené vydání. Praha: Grada Publishing, a.s. 304 s. 2013. ISBN:078-80-247-4831-3. (CS)
KARATSAZ., I. and SHREVE, S.E. Methods of Mathematical Finance. 2. vydání. Springer. 1999. ISBN-13: 978-0387948393. (EN)

RADOVÁ, J. a kol. Finanční matematika pro každého, příklady + CD-ROM. 2. přepracované vydání.Praha: Grada publishing, a.s. 256 s. 2011. ISBN978-80-247-3584-9. (CS)
MACHÁČEK, O. Finanční a pojistná matematika: úrok a úročení, modely opakovaných plateb, burzovní operace při složeném úročení, pojistné operace. 2.vydání, Praha: Prospektrum. 213 s. 3001. ISBN 80-7175-104-9. (CS)

13 hours, compulsory

1. Organization study in the exercise. Mathematical repetitorium. Math software.
2. Simple and compound interest payment.
3. Savings - short term, long term and their combinations. Time value of money, investment decisions (income taxes, depreciation and amortization, present value, payback period).
4. . Rents - basic concepts, temporary retirement, eternal, and the postponement of their value. Loans, loans for debt amortization, annuity, installment plan.
5. Bonds, basic terms, types of bonds, the price of a return to the bond maturity. Stocks, basic concepts, basic and loan capital, stocks price.
6. Reserves. Test. Unit credits.