Applied Mathematics

The international financial system is made up of many different players and products, so the ability to structure and analyze problems well is particularly important, and mathematicians are especially good at structuring and analyzing. They use stochastic processes, time series analysis, econometric methods - especially regression analysis - and extreme value theory.

Stochastics and statistics are used in almost every industry. Whether you are dealing with the effect of medication, developments on the financial market, insurance, big data, e-commerce or market research - statistics are involved everywhere. Only with statistical means is it possible to draw truly meaningful conclusions from large amounts of data, which are generated in many areas of business and science, and to develop strategies to optimize processes. Operations research is mainly concerned with business management issues for which optimal solutions are to be calculated with the help of mathematical models and methods.

Technomathematicians first translate a problem into the language of mathematics, i.e. into formulas and equations. The better the model reflects reality, the more precise the results will be in the end. A mathematical model is often time-saving and cost-effective compared to time-consuming and sometimes unrealizable practical experiments. The mathematical solution thus obtained on the basis of mathematical analyses and simulations is translated back and tested in reality to see to what extent the results reflect reality.

Actuaries are active in many different areas today. In addition to the traditional actuarial task of calculating tariffs, they also work in risk management and investment strategy. There is also an increasing focus on tasks in the area of big data. In addition to insurance companies, pension funds and consulting firms are also important employers for actuaries. In addition, large companies with their own actuarial departments and authorities such as BaFin (Federal Financial Supervisory Authority) employ graduates of our degree programs.