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.
Faculty
Organisational Unit
Department of Econometrics and Business Statistics
Chief examiner(s)
Coordinator(s)
Unit guides
Prerequisites
Students must have passed ETC1000 or equivalent or be enrolled in course B6014.
Synopsis
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.
Outcomes
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.
Assessment
Within semester assessment: 40% + Examination: 60%
Workload requirements
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