Deutsch Intern
    Lehrstuhl für Mathematik VIII - Statistik

    Prof. Dr. Tom Fischer



    • Understanding, not memorizing. Therefore, all my exams are open book, meaning that students can bring any books, lecture notes, or handwritten notes they wish. This does not mean that past students found my exams easy.
    • If you cannot apply it, you don't understand it. My lectures are full of hands-on spreadsheet-based valuation problems, using data sources such as the Deutsche Bundesbank or the German Actuarial Society (DAV). All thesis projects I supervise contain numerical applications, either with programming languages such as R or C++, or based on spreadsheet programs such as OpenOffice or Excel.
    • Teaching is personal. Theses supervision (M.Sc., B.Sc.) and mentoring is always in person, and not outsourced to assistants or Ph.D.-students.
    • Internationalization. Lecture notes and tutorials are written in English. For some content, German translations exist. Spoken language in my master course lectures is English, while - for the time being and despite of English notes - it is German in the bachelor course lecture.
    • Finding the right level. In none of my lectures I entirely follow specific books. Instead I use my own lecture notes, in order to pitch teaching at exactly the right level suitable for the specific mix of students I am facing.
    • Alignment of lectures and tutorials. All tutorial exercises are an integral part of the corresponding lecture notes, and are not separated away from the text in specific sections etc. This way, students always know when the level is reached at which they can attempt solving the question, and it also is avoided that lectures and tutorials slowly drift apart over time.


    I teach the following modules. Typically, the lectures are attended by students of economathematics (Wirtschaftsmathematik) or mathematics. For German language descriptors of the modules, use the navigation panel to the left. Contact me if you need English translations.
    • Introduction to Stochastic Financial Mathematics (Bachelor)
    • Selected Topics in Financial Mathematics (Master)
    • Insurance Mathematics 1 (Master)
    • Insurance Mathematics 2 (Master)
    • Seminar Financial and Actuarial Mathematics (Master)

    Theses Supervision

    I offer students a wide-ranging array of theses in financial and actuarial mathematics, as well as quantitative risk management, having personally supervised over 30 M.Sc. and over 10 B.Sc. theses during my academic career so far. Here is a brief selection (of mostly German) theses titles of the past.

    • Zur Eindeutigkeitsproblematik bei der Bewertung mit Finanzverflechtungen
    • Hebelwirkungen von Finanzverflechtungen – eine Analyse unter risikoneutraler Bewertung
    • Ökonomischer Kapitalbedarf für Marktrisiko: Berechnung des Value-at-Risk für extreme Quantile und Zeithorizonte
    • Implementierung einer Risikokapitalallokationsmethode
    • Vasicek- und CIR-Modell in einer Niedrigzinsumgebung
    • Höchstrechnungszinsänderungen aus Sicht der marktbasierten Bewertung von Lebensversicherungsverträgen
    • Market value of a cross-currency swap: 3M-CZK-PRIBOR vs. 3M-GBP-LIBOR
    • Bootstrapping von Swapkurven am Beispiel des Budapest Interest Rate Swap
    • Unternehmensbewertung in Finanznetzwerken am Beispiel des Suzuki-Modells
    • Nichtabnahme- und Vorfälligkeitsentschädigungen bei Hypothekendarlehen
    • Bewertung eines Zinssatzswaps am Beispiel 3M-EUR-EURIBOR vs. EUR-Festsatz
    • Retrospektive Beitragsabschätzung für eine Risikolebensversicherung
    Students typically receive a fairly detailed description of the topic and of the expected results. For instance, the student with the last Bachelor topic from the list above received this descriptor for the topic, and this descriptor for the general layout of the thesis.
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    Universität Würzburg
    Sanderring 2
    97070 Würzburg

    Phone: +49 931 31-0
    Fax: +49 931 31-82600

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