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Department of Mathematics
Recommended Reading for Actuarial Science
Listed below are some key basic texts that support the PgDip/MSc Actuarial Science programme. The list is
by no means exhaustive, nor compulsory for the programme, but you may find them useful for preparation
and throughout the course as a source of reference. Most titles will be available via the University library.
You should also make yourself familiar with The Economist, and The Actuary. Both of these publications are
available from the University library.
Additional reading suggestions are available from the Actuarial Profession’s website.
1.
Financial Mathematics
S J Garrett, An introduction to the Mathematics of Finance: A Deterministic Approach (Heinemann, 2013)
P. Zima & R. Brown, Schaum’s Outline of Mathematics of Finance (Schaum, 1997)
P Wilmott, Introduces Quantative Finance (John Wiley and Sons, 2007)
M. Baxter & A. Rennie, Financial Calculus (Cambridge University Press, 1996)
2.
Finance and Financial Reporting
D. Watson & A. Head, Corporate Finance: Principles & Practice (Financial Times, 6th edition, 2013)
D. Hillier, Corporate Finance (European edition, 2012)
E. F. Brigham & J. F. Houston, Fundamentals of Financial Management (South-Western Pub, 2012)
3.
Statistics
M. A. Weiss, Probability (Pearson, 2006)
J. T. McClave & T. Sincich, Statistics (Pearson, 2006)
D. D. Wackerly, W. Mendenhall & R. L. Scheaffer, Mathematical Statistics with Applications (Duxbury, 2002)
4.
Models and Mortality
S. David Promislow, Fundamentals of Actuarial Mathematics (Wiley, 2010)
R. C. Elandt-Johnson & N. L. Johnson, Survival Models and Data Analysis (Wiley-Blackwell, 1999)
5.
Contingencies
F. W. Scott, Life assurance mathematics (The Actuarial Profession, 1999)
D. Dickson, M. Hardy & H. R. Waters, Actuarial Mathematics for Life Contingent Risks (Cambridge University Press, 2009)
H. U. Gerber, Life insurance mathematics (Springer, 1997)
6.
Statistical Methods
J. Berger, Statistical decision theory and Bayesian analysis (Springer-Verlag, 1980)
C. Chatfield, The analysis of time series: an introduction (Chapman & Hall, 2004)
Philip J. Boland, Statistical and Probabilistic Methods in Actuarial Science (Chapman & Hall, 2007)
David C. M. Dickson, Insurance Risk and Ruin (Cambridge University Press, 2010)
Rob Kaas, Marc Goovaerts & Jan Dhaene, Modern Actuarial Risk Theory: Using R (Springer 2008)
7.
Business Economics
J. Sloman, K. Hinde & D. Garratt, Economics for Business (Pearson Education Limited, 6th edition, 2013)
P. Samuelson & W. Nordhaus, Economics (McGraw-Hill, 2010)
P. Samuelson & W. Nordhaus, Macroeconomics (McGraw-Hill, 2010)
W. Morgan, M. Katz & H. Rosen, Microeconomics (McGraw-Hill, 2009)
8.
Financial Engineering
Revised: August 2014
Department of Mathematics
M. Baxter & A. Rennie, Financial Calculus (Cambridge University Press, 1996)
J. Hull, Options, Futures and Other Derivatives (Pearson, 2011)
E. J. Elton, M. J. Gruber & S. J. Brown et al, Modern Portfolio Theory and Investment Analysis (John Wiley, 8th Ed, 2010)
Revised: August 2014