Łódź, Poland

Actuarial Science and Financial Analysis

Aktuariat i analiza finansowa

Bachelor's
Table of contents

Actuarial Science and Financial Analysis at PŁ

Language: PolishStudies in Polish
Subject area: economy and administration
Kind of studies: full-time studies
University website: www.p.lodz.pl/en

Definitions and quotes

Actuarial science
Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, finance and other industries and professions. Actuaries are professionals who are qualified in this field through intense education and experience. In many countries, actuaries must demonstrate their competence by passing a series of rigorous professional examinations.
Analysis
Analysis is the process of breaking a complex topic or substance into smaller parts in order to gain a better understanding of it. The technique has been applied in the study of mathematics and logic since before Aristotle (384–322 B.C.), though analysis as a formal concept is a relatively recent development.
Science
Science (from Latin scientia, meaning "knowledge") is a systematic enterprise that builds and organizes knowledge in the form of testable explanations and predictions about the universe.
Science
Today, when so much depends on our informed action, we as voters and taxpayers can no longer afford to confuse science and technology, to confound “pure” science and “applied” science.
Jacques-Yves Cousteau, in Jacques Cousteau and Susan Schiefelbein, The Human, the Orchid, and the Octopus: Exploring and Conserving Our Natural World (2007), 181.
Analysis
Now analysis is of two kinds, the one directed to searching for the truth and called theoretical, the other directed to finding what we are told to find and called problematical. (1) In the theoretical kind we assume what is sought as if it were existent and true, after which we pass through its successive consequences, as if they too were true and established by virtue of our hypothesis, to something admitted: then (a), if that something admitted is true, that which is sought will also be true and the proof will correspond in the reverse order to the analysis, but (b), if we come upon something admittedly false, that which is sought will also be false. (2) In the problematical kind we assume that which is propounded as if it were known, after which we pass through its successive consequences, taking them as true, up to something admitted: if then (a) what is admitted is possible and obtainable, that is, what mathematicians call given, what was originally proposed will also be possible, and the proof will again correspond in reverse order to the analysis, but if (b) we come upon something admittedly impossible, the problem will also be impossible.
Pappus, (c. 330 AD) as quoted by Thomas Little Heath, The Thirteen Books of Euclid's Elements (1908) Vol. 1, Ch. IX. §6.
Analysis
Analysis and natural philosophy owe their most important discoveries to this fruitful means, which is called induction. Newton was indebted to it for his theorem of the binomial and the principle of universal gravity.
Laplace, A Philosophical Essay on Probabilities, [Truscott and Emory] (New York 1902), p. 176.
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