Karta przedmiotu

Financial mathematics

Some basic information about the module

Cycle of education:

2019/2020

The name of the faculty organization unit:

The faculty Mathematics and Applied Physics

The name of the field of study:

Mathematics

The area of study:

sciences

The profile of studing:

The level of study:

first degree study

Type of study:

full time

discipline specialities :

Applications of Mathematics in Economics

The degree after graduating from university:

bachelor's degree

The name of the module department :

Department of Mathematics

The code of the module:

1061

The module status:

mandatory for teaching programme Applications of Mathematics in Economics

The position in the studies teaching programme:

sem: 2 / W30 C15 / 3 ECTS / Z

The language of the lecture:

Polish

The name of the coordinator:

Beata Rzepka, prof. PRz, DSc, PhD

office hours of the coordinator:

podane w harmonogramie pracy jednostki.

The aim of studying and bibliography

The main aim of study:
To acquaint the students with the basics of financial mathematics and familiarize them with the principles and rules applicable in various financial accounts.

The general information about the module:
The module is implemented in the second semester in the form of lectures (30 hours) and exercises (15 hours).

Bibliography required to complete the module

Bibliography used during lectures
1	J. Banaś, B. Rzepka	Wykłady matematyki finansowej	Oficyna Wydawnicza Politechniki Rzeszowskiej.	2019
2	K. Piasecki, W. Ronka-Chmielowiec	Matematyka finansowa	Wydawnictwo C.H. Beck, Warszawa.	2011
3	M. Podgórska, J. Klimkowska	Matematyka finansowa	Wydawnictwo Naukowe PWN, Warszawa.	2005
4	L.L. Thompson, R.E. Lowe	Business mathematics	Mission Hills, Calif. Glencoe Publ. Co..	1988

Bibliography used during classes/laboratories/others
1	J. Banaś	Matematyka finansowa	Wyższa Szkoła Zarządzania w Rzeszowie, Rzeszów.	1999
2	J. Banaś, B. Rzepka	Wykłady matematyki finansowej	Oficyna Wydawnicza Politechniki Rzeszowskiej.	2019
3	M. Podgórska, J. Klimkowska	Matematyka finansowa	Wydawnictwo Naukowe PWN, Warszawa.	2005
4	L.L. Thompson, R.E. Lowe	Business mathematics: workbook - teacher's annotated edition	Mission Hills, Calif. Glencoe Publ. Co..	1988

Basic requirements in category knowledge/skills/social competences

Formal requirements:
The student satisfies the formal requirements set out in the study regulations

Basic requirements in category knowledge:
A student has mathematical knowledge which allows him/her to understand the lectured material.

Basic requirements in category skills:
Ability to use fundamental mathematical tools in the area of secondary school education.

Basic requirements in category social competences:
A student is prepared to undertake substantiated mathematical operations in order to solve a task and has the ability to extend his/her knowledge independently.

Module outcomes

MEK	The student who completed the module	Types of classes / teaching methods leading to achieving a given outcome of teaching	Methods of verifying every mentioned outcome of teaching	Relationships with KEK	Relationships with PRK
MEK01	knows how to calculate the final capital value in case of simple, complex and continuous capitalization	lecture, exercises	test	K-W01+ K-W03+ K-U01+ K-K01+	P6S-KK P6S-UK P6S-WG P6S-WK
MEK02	knows how to calculate simple and complex real discount	lecture, exercises	test	K-W01+ K-W03+ K-U01+ K-K01+	P6S-KK P6S-UK P6S-WG P6S-WK
MEK03	knows how to calculate equivalent rates in different types of capitalizations	lecture, exercises	test	K-W01+ K-W02+ K-W03+ K-W04+ K-W05+ K-U01+ K-K01+	P6S-KK P6S-UK P6S-WG P6S-WK

The syllabus of the module

Sem.	TK	The content	realized in	MEK
2	TK01	Change of value of money over time. Real time and banking time. Interest. Interest rate. Simple capitalization. Complex capitalization and continuous capitalization. Base period. Frequency of capitalization. Real discount.	W01-W04, C01-C04	MEK01 MEK02
2	TK02	The basic principles of financial mathematics. The principle of equivalence of interest rates. Effective annual interest rate. Average annual interest rate and average subperiodic rate in different types of capitalizations.	W05-W10, C05-C07	MEK01 MEK02 MEK03
2	TK03	Inflation. Inflation rate. Real interest rate. Fisher's formula. Nominal and real capital value.	W11-W14, C08-C09	MEK01 MEK02
2	TK04	Capital value over time. The principle of equivalence of capitals.	W15-W18, C10-C11	MEK01 MEK02
2	TK05	Commercial discount. Securities. Discounting and rediscounting of bills of exchange. The principle of equivalence of bills of exchange. Portfolio of bills of exchange.	W19-W22, C12-C13	MEK01 MEK02 MEK03
2	TK06	Annuities. Initial and final value of annuity. Types of annuities. Equivalent annuities. Annuities with fixed installments. Deferred annuity and perpetual annuity.	W23-W26, C14	MEK01 MEK02 MEK03
2	TK07	Debt repayment by installments. The schema of debt repayment. Types of repayment of interest. Different types of repayment of debt. Real annual interest rate.	W27-W30	MEK01 MEK02 MEK03
2	TK08	Test based on the materials covered during lectures and exercises.	C15	MEK01 MEK02 MEK03

The student's effort

The type of classes	The work before classes	The participation in classes	The work after classes
Lecture (sem. 2)		contact hours: 30.00 hours/sem.	complementing/reading through notes: 5.00 hours/sem.
Class (sem. 2)	The preparation for a Class: 7.00 hours/sem. The preparation for a test: 6.00 hours/sem.	contact hours: 15.00 hours/sem.	Finishing/Studying tasks: 5.00 hours/sem.
Advice (sem. 2)	The preparation for Advice: 2.00 hours/sem.	The participation in Advice: 3.00 hours/sem.
Credit (sem. 2)	The preparation for a Credit: 5.00 hours/sem.	The written credit: 2.00 hours/sem.

The way of giving the component module grades and the final grade

The type of classes	The way of giving the final grade
Lecture	A credit for the lecture is based on attendance at the lectures.
Class	A credit for the exercises is based on the result of tests and oral answers.
The final grade

Sample problems

Required during the exam/when receiving the credit
(-)

Realized during classes/laboratories/projects
(-)

Others
(-)

Can a student use any teaching aids during the exam/when receiving the credit : no

The contents of the module are associated with the research profile no