Actuarial Modelling II

Subject ACTL30002 (2016)

Note: This is an archived Handbook entry from 2016.

Credit Points: 12.5
Level: 3 (Undergraduate)
Dates & Locations:

This subject has the following teaching availabilities in 2016:

Semester 1, Parkville - Taught on campus.
Pre-teaching Period Start not applicable
Teaching Period 29-Feb-2016 to 29-May-2016
Assessment Period End 24-Jun-2016
Last date to Self-Enrol 11-Mar-2016
Census Date 31-Mar-2016
Last date to Withdraw without fail 06-May-2016


Timetable can be viewed here. For information about these dates, click here.
Time Commitment: Contact Hours: Two x 1-hour lecture during semester; An additional one hour lecture every 3rd week during semester; 1x1 hour tutorial per week commencing in second week of semester.
Total Time Commitment:

170 hours
Prerequisites:

Both of:

Subject
Study Period Commencement:
Credit Points:
Semester 2
12.50
Corequisites: None
Recommended Background Knowledge:

Please refer to Prerequisites and Corequisites.
Non Allowed Subjects:

Students may not gain credit for both ACTL30002 Actuarial Modeling II and 300-330 Survival Models: Theory and Applications.
Core Participation Requirements:

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://services.unimelb.edu.au/disability

Coordinator

Dr Enrique Calderin

Contact

enrique.calderin@unimelb.edu.au

Subject Overview:

Topics include exact and census methods for estimating transition intensities based on age; goodness of fit and smoothness of graduated estimates versus crude estimates; actuarial modelling; general principles of stochastic processes; Markov chains in actuarial work.
Learning Outcomes:
  • Describe the principles of actuarial modelling
  • Describe the general principles of stochastic processes, and their classification into different types
  • Define and apply a Markov chain
  • Describe how to estimate transition intensities depending on age, exactly or using the census approximation
  • Describe how to test crude estimates for consistency with a standard table or a set of
    graduated estimates, and describe the process of graduation
  • Apply pre-requisite mathematical and statistical concepts to the solution of problems on the above topics
Assessment:

A 2-hour end of semester examination (80%) and up to three assignments totalling not more than 20 pages (20%).
Prescribed Texts:

You will be advised of prescribed texts by your lecturer.
Recommended Texts:

Information Not Available
Breadth Options:

This subject potentially can be taken as a breadth subject component for the following courses:

You should visit learn more about breadth subjects and read the breadth requirements for your degree, and should discuss your choice with your student adviser, before deciding on your subjects.

Fees Information: Subject EFTSL, Level, Discipline & Census Date
Generic Skills:

  • High level of development: written communication; problem solving; statistical reasoning; application of theory to practice; synthesis of data and other information.
Notes:


Download PDF version.