Undergraduate - UnitETC2430 - Actuarial statistics

This unit entry is for students who completed this unit in 2013 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

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6 points, SCA Band 2, 0.125 EFTSL

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Level	Undergraduate
Faculty	Faculty of Business and Economics
Organisational Unit	Department of Econometrics and Business Statistics
Offered	Clayton Second semester 2013 (Day)
Coordinator(s)	Dr Colin O'Hare

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:

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.

Assessment

Within semester assessment: 40%
Examination: 60%

Chief examiner(s)

Dr Colin O'Hare

Contact hours

4 hours per week

Prerequisites

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