Insurance and financial mathematics at the FMF: students’ impressions
Labor market demands of the 21st century put forward new requirements for the training of future mathematicians. This led to the establishment at the Department of Mathematical Analysis and Probability Theory of the new specialization "Insurance and Finance Mathematics". Students of Faculty of Physics and Mathematics started 2016/2017 academic year with new curriculum and syllabus with such new disciplines as financial mathematics of stock market, statistical methods in risk insurance, methods of mathematical economics, computer statistics, time series analysis , binomial models of financial risks. Masters of the OM-61m group, who have chosen a new specialization, share their impressions of new programs and methodological approaches.
Viktoriia Kusii, winner of MP Kravchuk scholarship.
- Victoria, were you interested in subjects from the syllabus of "Insurance and finance mathematics"?
- Of course. At present, students of the FMF learn to study the laws of random phenomena and processes by mathematical means. On the one hand, we receive a fundamental modern mathematical and analytical training, which is possible only at the mathematical faculties of classical universities. On the other hand, our training has now become clearly focused on the studying, creation and application of methods for analyzing information of a random nature. We began to understand how we can apply the formulas of the theory of probability and mathematical statistics in practice in order to predict the development of various economical processes. For us, such concepts as swap, option, arbitrage, forward and futures contracts have become much more clear.
Amado Sissa, a student from Senegal.
- Amado, you came to Ukraine from Senegal, now you are a student of the FMF. Why did you choose NTUU " gor SikorskyKPI"? How did you find out about studying in Ukraine? Was it difficult to adapt to study in a foreign country?
- I got to know about higher education in Ukraine from my friend, with whom I studied at a university in Senegal. I am very pleased that I chose this Ukrainian university. Studying at the KPI is a very significant contribution to my future. I easily integrated into the faculty, my new groupmates welcomed me very warmly. They are always ready to help and always support me. I also like the teaching staff of the faculty. I was impressed by a high level of teachers’ knowledge whose explanations are always methodical and clear. My low level of proficiency in the Ukrainian language did not become an obstacle to obtaining knowledge. I consider this a great merit of the teachers. Due to the fact that I am studying at this university, I managed to fill the gaps in my knowledges, as well as to systematize fundamental knowledge in the field of mathematics.
- Amado, you already had an experience of studying at higher education institute. Do you feel the difference between studying at the University of Senegal and studying at the KPI?
- Indeed, the mathematical apparatus that is taught at the FMF is much better than at my university in Senegal and even with many other French universities. My native university in Senegal has the same training programs as the University Paris XII and other universities in France. I can say that the program of the bachelor degree program at the KPI is equal to the masters program at the above-mentioned universities in terms of the number of credits and modules. In addition,it has dual orientation: fundamental and applied. This is important, because often in French universities these directions are not compatible. Last year I received an invitation to study at the University of Paris Saclay in France, to obrain a masters degree in mathematics. However, having looked through the syllabus, I noticed that 80% of the courses that will be taught there for the Masters, I studied at the Faculty of Physics and Mathematics at the KPI.
Tetiana Kulumbehova, winner of MP Kravchuk scholarship.
- Tetiana, the introduction of new subjects led to the introduction of new modern technologies into the process of learning. What’s the students’ attitude to new teaching methods?
- During one of the practical lessons of "Financial Mathematics of Stock Market," the teacher warned us that next week we would do a test, but in the new format without pen and sheet. Everyone had to bring a laptop or tablet, because the test was online. We tatally forgot that a test is, as always, a serious matter which requires tough preparation. Also, nobody expressed dissatisfaction with the fact that they would have to bring a gadget, which means extra kilos in a student backpack. As for me, it shows that students are enthusiastic about the novelties of the learning process, in particular with the involvement of multimedia or online resources.
- What are the advantages and disadvantages of such novelties? Or maybe it makes sense to use old methods?
- I have noticed only one drawback which concerns technical details. Let’s consider the benefits of such a test-control. Firstly, among the suggested answers, there was "insufficient data". Such options make the student not only solve the problem, but also analyze whether the solution can be obtained at all. Secondly, each student saw a time countdown and could estimate their strength. Although we are already fifth-year students, we expect the same as the freshmen in evaluation of our work. Therefore, the great advantage of this kind of control is the express assessment that each student receives upon completion of the test. A lively discussion broke out among the students in the classroom after the online test which was previously unusual for us. Everyone exchanged their impressions, discussing possible solutions. Everyone wanted to share their solution method. The teacher also took an active part in the discussion, and this created a fruitful and creative atmosphere in the classroom; we managed to solve all the tasks during the given time.
Summing up the impression of all my friends, I would like to emphasize the fact that students take various modern approaches and the use of modern technologies with a great deal of enthusiasm. That's not just about technology. You can, for example, change the structure of practical classes. For example, to arrange classes as a discussion of two teams in relation to the topic to be learned; or to make a kind of interactive game in which students take an active part.