Financial Mathematics for Actuaries

 
9780071288934: Financial Mathematics for Actuaries

This is an introductory textbook on the mathematics of interest rates for actuarial science students. It is written at a level of rigor that is required for students majoring in actuarial science and prepares them for further analysis of financial instruments. It emphasizes an intuitive treatment of the mathematics of finance and insurance, with special attention to applications.
Each chapter contains many examples illustrating the applications of mathematical analysis to financial products and personal financial management.
The authors use the financial functions in Excel as the computational tool in this book, which are illustrated through numerous examples.

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About the Author:

Wai-Sum Chan,PhD, FSA, CERA, graduated from the Chinese University of Hong Kong with a major in Accounting and a minor in Statistics. He pursued a doctorate in Applied Statistics at the Fox School of Business Management, Temple University (Philadelphia, USA), receiving his PhD in 1989. He qualified as a Fellow of the Society of Actuaries in 1995 and Chartered Enterprise Risk Analyst in 2008. Dr. Chan held teaching and research posts at the National University of Singapore, the University of Waterloo and the University of Hong Kong before his present appointment as Professor of Finance at the Chinese University of Hong Kong. Dr. Chan s research interests include Health Care Financing, Actuarial Modeling and Financial Econometrics. He has had over 80 scientific articles published in scholarly journals. Dr. Chan has been teaching financial and actuarial courses since 1992.

Yiu-Kuen Tse, PhD, FSA, graduated from the University of Hong Kong, majoring in Economics and Statistics. He obtained his MSc in Statistics and PhD in Econometrics from the London School of Economics. He has been a Fellow of the Society of Actuaries since 1993. Dr. Tse s research interests are in Empirical Finance and Financial Econometrics. He is Professor of Economics at the School of Economics, Singapore Management University. He has published extensively in scholarly journals and is the author of the book Nonlife Actuarial Models: Theory, Methods and Evaluation. Dr. Tse teaches undergraduate Actuarial Science and is also involved in many executive training programs.

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