Semester:WS 22/23
Type:Module
Language:English
ECTS-Credits:3.0
Scheduled in semester:3
Semester Hours per Week / Contact Hours:28.0 L / 21.0 h
Self-directed study time:69.0 h
Type:Module
Language:English
ECTS-Credits:3.0
Scheduled in semester:3
Semester Hours per Week / Contact Hours:28.0 L / 21.0 h
Self-directed study time:69.0 h
Module coordination/Lecturers
- Prof. Dr. Michael Hanke
(Modulleitung)
- Prof. Dr. Michael Hanke
(Interner Dozent)
Curricula
Master's degree programme in Finance (01.09.2015)Master's degree programme in Finance (01.09.2020)
Events
Description
- Modelling the Human Life Cycle
- Models of Human Mortality
- Valuation Models of Deterministic Interest
- Models of Risky Financial Investments
- Models of Pension Life Annuities
- Models of Life Insurance
- Models of DB vs. DC Pensions
- Sustainable Spending at Retirement
- The Liechtenstein Pension System
Learning Outcomes
Students …
- have a solid background in financial decisions regarding longevity and retirement,
- combine valuation techniques from finance with those from actuarial mathematics,
- understand the effects of longevity, bequest motive, and risk-return trade-off on the corresponding choices made by individual investors,
- understand and apply life-cycle models of individual investors,
- distinguish between DB and DC pension plans and understand their respective implications,
- combine financial models with models for longevity risk,
- select appropriate financial instruments for individual pension planning and justify this selection economically,
- understand the Liechtenstein pension system and can compare it to systems in other countries.
Qualifications
Lectures Method
Lecture
Literature
Milevsky, M.A. (2006). The Calculus of Retirement Income. Cambridge University Press