ETC2430 - Actuarial statistics
6 points, SCA Band 0 (NATIONAL PRIORITY), 0.125 EFTSL
Undergraduate Faculty of Business and Economics
Leader(s): Dr Phillip Edwards
Clayton Second semester 2009 (Day)
This unit will introduce students to some of the techniques used in actuarial work, and will give an overview of some of the areas in which actuaries are currently involved. The student is introduced to the basic concepts involved in assessing risk and pricing insurance products, and to this end will gain experience in using past data to model survival and in using a simple model of compound interest to value financial transactions.
The learning goals associated with this unit are to:
- understand the concepts and techniques used in actuarial work
- construct demographic statistics, life tables and exposed to risk tables
- model mortality rates
- price insurance products and determine reserves.
Within semester assessment: 40%
Examination (2 hours): 60%
Two 1-hour lectures and one 2-hour tutorial per week