ETC2430 - Actuarial statistics

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Overview

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. Students will be introduced to the basic concepts involved in interest rates and time value of money, leading to … For more content click the Read More button below.

Offerings

S1-01-CLAYTON-ON-CAMPUS

S1-FF-CLAYTON-FLEXIBLE

Requisites

Prerequisite

STA1010

6 CP

Statistical methods for science

Business and economic statistics

Business and economic statistics

ETW1100

6 CP

Introduction to business analytics

FIT1006

6 CP

Business information analysis

SCI1020

6 CP

Introduction to statistical reasoning

Rules

Enrolment Rule

Contacts

Chief Examiner(s)

Professor Brett Inder

Learning outcomes

On successful completion of this unit, you should be able to:

introduce actuarial discounting concepts and basic actuarial notation

introduce statistical techniques in actuarial work

develop an understanding of interest rates and the actuarial analysis of cash flows

understand the use of equation of value in actuarial pricing and appraisal.

Assessment summary

Within semester assessment: 40% + Examination: 60%

Workload requirements

Workload

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.