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Nicholson, Kimberly From: Sent: To: Subject: Mohammed, Tijjani Tuesday, January 29, 2013 11:47 PM Choi, Jungmin RE: Notification of potential impact on your programs of new course offering MATH 4300/6300 Financial and Actuarial Mathematics Dr. Choi, I hope that you are doing well! Thank you very much for your e-mail pertaining to Math curricular chnages. I will share this with our faculy and get back to you ASAP. Warm regards, T. Mohammed From: Choi, Jungmin Sent: Tuesday, January 29, 2013 4:10 PM To: Mohammed, Tijjani Subject: Notification of potential impact on your programs of new course offering MATH 4300/6300 Financial and Actuarial Mathematics To: Tijjani Mohammed From: Jungmin Choi, Department of Mathematics Re: Notification of potential impact on your programs of new course offering MATH 4300/6300 Financial and Actuarial Mathematics Dear Professor Mohammed, As advised by the Undergraduate Curriculum Committee and the Graduate Curriculum Committee, the Mathematics Department is writing you to notify you of a proposed new course offering MATH 4300/6300 (Financial and Actuarial Mathematics) designed to prepare students for taking and passing the Society of Actuaries exam FM “Financial Mathematics” and MFE “Models for Financial Economics”, for students with the prerequisite knowledge of Calculus. Since your program has been identified as a potentially impacted program, we are contacting you so that you are aware of the course. We would certainly welcome any eligible and interested students in your programs to register for the course. We anticipate offering MATH 4300/6300 in the near future, upon approval of course by UCC and GCC. The course proposal is attached as an MSWord file, for your information, and the Marked Catalog Copy is reproduced here in the body of this letter, with MATH 4300/6300 in blue. We welcome any comments or response you may have, and we will forward such comments to the UCC and GCC. Best, Jungmin Choi 4100. Mathematics of Risk Analysis (3) (S) P: MATH 3308. Comprehensive introduction to the single-period mathematical risk theory. Explores approaches to modeling and measuring risks. Topics include distribution theory with an emphasis on exponential models, risk measurement and policy modifications. Prepares the student for of the Society of Actuaries Exam P “Probability”. 1 4101. Advanced Calculus I (3) (F,S) P: MATH 2173, 2300; or consent of instructor. May receive credit for one of MATH 4101, 5101. Axioms of real number system, completeness, sequences, infinite series, power series, continuity, uniform continuity, differentiation, Riemann integral, and Fundamental Theorem of Calculus. 4110. Elementary Complex Variables (3) P: MATH 2173. Complex numbers, analytic functions, mapping by elementary functions, integrals, residues, and poles. 4300. Financial and Actuarial Mathematics (3) (F) P: Math 2172 or equivalent. A comprehensive introduction of the mathematical interest theory. Topics include time value of money, annuities, loan repayment, bond, options and financial markets. Prepares the student for of the Society of Actuaries Exam FM “Financial Mathematics”. 4201. Introduction to Stochastic Processes (3) P: MATH 3307 or equivalent or consent of instructor. Fundamental theory and models of stochastic processes. Expectations and independence, sums of independent random variables, Markov chains and their limiting behavior and applications, Poisson processes, birth and death processes; and Gaussian processes. 6100. Mathematics of Risk Analysis (3) P: MATH 2172, 3307, 3308; or consent of instructor. Single-period mathematical risk theory is covered, including approaches to modeling and measuring (insurance) risks. Topics include (univariate) distribution theory: exponential dispersion models, elliptical distributions, (a,b,k) class, heavy-tailness; risk measurement: value-at-risk, expected shortfall, coherency; policy modifications: deductibles, (co)insurance, limits. Students are prepared to take the Society of Actuaries Exam P “Probability” and Exam C “Construction and Evaluation of Actuarial Models." 6111, 6112. Introduction to Complex Variables I, II (3,3) P for 6111: MATH 5102; P for 6112: MATH 6111. I. Analytic functions, mapping of functions, differentiation and integration, power series, and residues. II. Integral functions, infinite products, Mittag-Leffler expansion, maximum modulus theorem, convex functions, the Schwarz Christoffel transformation, analytic continuation, Riemann surfaces, and selected topics in functions of a complex variable. 6121, 6122. Real Variables I, II (3,3) P for 6121: MATH 5101 or consent of instructor; P for 6122: MATH 6121 or consent of instructor. I. Study of functions of one real variable and convergence of sequences and series of functions: functions of bounded variation, measures, measurable sets, measurable functions, convergence almost everywhere, absolutely continuous functions, Lebesque integration, differentiation, and the Fundamental Theorem of the Calculus. II. Lebesque spaces and associated inequalities, measures in Rn, measure spaces and the associated theory of integration and differentiation; the Radon-Nikodym Theorem with applications to probability and statistics. 6150. Graph Theory (3) P: MATH 2300 or consent of instructor. Structure of graphs, trees, connectivity, Eulerian and Hamiltonian graphs, planar graphs, graph colorings, matchings, independence, and domination. 6251, 6252. Advanced Placement Mathematics for Secondary Teachers I, II (3,3) May count toward certificate renewal or certification in teaching gifted and talented students. May not count toward MA in mathematics. Intensive study of topics covered in Calculus AB and Calculus BC of advanced placement mathematics. 6271. Teaching Collegiate Mathematics (2) 2 P: Consent of instructor. Curricula and methods of teaching mathematics to adults in colleges and technical schools. 6300. Financial and Actuarial Mathematics (3) P: Math 2172, 3307, 4100; or consent of instructor. A comprehensive introduction of the mathematical interest theory. Topics include time value of money, annuities, loan repayment, bond, valuation of derivative securities (European options, American options, Exotic options), Black-Scholes Model, deltahedging risk management. Prepares the student for of the Society of Actuaries Exam FM “Financial Mathematics”, and MFE “Models for Financial Economics”. Jungmin Choi, PhD. Assistant Professor Department of Mathematics East Carolina University (252)328‐5348 3