Faculty of Business and Economics

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Monash University

Monash University Handbook 2010 Undergraduate - Unit

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

FacultyFaculty of Business and Economics
OfferedClayton Second semester 2010 (Day)
Coordinator(s)Dr Phillip Edwards


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%

Chief examiner(s)

Graham Forbes

Contact hours

Two 1-hour lectures and one 2-hour tutorial per week


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