6 points, SCA Band 2, 0.125 EFTSL
Undergraduate - Unit
Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.
- First semester 2017 (Day)
This unit will introduce students to basic financial and stochastic techniques used in actuarial work, and will give an overview of some of the areas in which actuaries are currently involved. The student will be introduced to the basic concepts involved in assessing and pricing future risks and pricing insurance products, using past data.
The learning goals associated with this unit are to:
- introduce actuarial discounting concepts and basic actuarial notation
- introduce statistical techniques in actuarial work
- construct demographic statistics and life tables
- model mortality rates.
Within semester assessment: 40% + Examination: 60%
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
See also Unit timetable information
Students must have passed ETC1000, or be enrolled in course B6014.