units

ETC2430

Faculty of Business and Economics

18 January 2012 13 February 2012

Undergraduate - Unit

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6 points, SCA Band 0 (NATIONAL PRIORITY), 0.125 EFTSL

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

LevelUndergraduate
FacultyFaculty of Business and Economics
OfferedClayton Second semester 2012 (Day)
Coordinator(s)Dr Phillip Edwards

Synopsis

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.

Outcomes

The learning goals associated with this unit are to:

  1. understand the concepts and techniques used in actuarial work
  2. construct demographic statistics, life tables and exposed to risk tables
  3. model mortality rates
  4. price insurance products and determine reserves.

Assessment

Within semester assessment: 40%
Examination (2 hours): 60%

Chief examiner(s)

Graham Forbes

Contact hours

4 hours per week

Prerequisites

Students must have passed the following two units: ETC1000 and ETC1010