Program of Graduate Studies

The Department of Mathematics of the University of the Aegean organizes and operates an up-to-date Program of Graduate Studies (P.G.S.) entitled "Statistics and Actuarial-Financial Mathematics" ”, since the academic year 2014-2015. The program leads to a Master’s of Science degree (M.Sc.) in the following areas:

• Statistics and Data Analysis

• Actuarial - Financial Mathematics

The duration of the program is three (3) semesters while the sum of the required ECTS is 90. The courses are taught exclusively in the first two semesters (5 in the first and 4 in the second), and the Master’s Thesis is undertaken by the end of the second semester through the end of the third one. Among the courses, the following ones are included: Statistics, Techniques of Simulation, Stochastic Processes, Econometrics, Time Series, Financial Mathematics, Actuarial Mathematics, General Insurances, Theory of Extreme Phenomena, Analysis and Actuarial Models of Survival, Measure and Risk Management, Portfolio Optimization, etc.
Accepted to the P.G.S. are graduates of departments of Universities (AEI) and Technological Institutions (ATEI) such as: Statistics and Actuarial-Financial Mathematics, Statistics and Actuarial Science, Statistics, Mathematics, Applied Mathematics and Natural Sciences, Mathematics and Statistics, Informatics, Economics, Financial and Banking Administration, Accounting and Financial Science, Business Organization and Management, etc.
The study fee is 1500 euro for the duration of the program. The first student in the enrollment ranking of each one of the direction of studies, is exempt from the fees’ payment

Scope and Aims

The scope of the P.G.S. is the elevation of science and knowledge through teaching and research in the fields of Statistics and Actuarial-Financial Mathematics.
The aim of the P.G.S. is on one hand the elevation of science and knowledge and, on the other hand, the instruction of scientists necessary for the educational and developmental needs of the country. The P.G.S. courses have been selected so that they offer to the graduate students the specialization that is required by the recent scientific and technological developments, in combination with the special features and needs of the contemporary Greek and European reality.

Professional Space

A statistician can be used for the elaboration and analysis, via statistical and computational packages, of economical, technological, engineering, meteorological, medical, biological and genetic data, in order that she/he derives decisive conclusions for the development of enterprises, production, pharmaceutical industry, genetics, economical science, medical science etc.
An actuary can be used in order to estimate business risks which are related with uncertain future events such as insurance and pension programs. Thus, an actuary deals with the prediction of the economical activity of enterprises (profit and loss level), with the prediction and estimation of the possibility of natural phenomena, accidents, diseases, death, etc. For the acquirement of the professional license, there are examinations which are conducted twice a year.
A financial consultant provides advice for insurance and financial products, management of family and individual portfolios, private ownerships, mergers and companies’ acquisition, risk management, big projects’ financing, investments etc.