ACTL2102 Foundations of Actuarial Models

ACTL2102
Undergraduate
6 Units of Credit
Risk & Actuarial Studies

Search Degrees

Find a degree or course

This course outline is currently unavailable. Please visit our archives to view previous course outlines.

This course provides an introduction to the probability models used by actuaries for both liabilities and assets. Topics covered include the terminology of stochastic processes; main features of a Markov chain and application to experience rating; Markov process models and application to survival, sickness and marriage models; simple time series models including random walk and auto-regressive models and their application to investment variables; properties of Brownian motion and applications to investment variables; methods for simulation. Students will be required to implement models using spreadsheets and programs in a numerical computer package.

ACTL2102