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Models for Insurance and Finance (ACTL30005)
Undergraduate level 3Points: 12.5On Campus (Parkville)
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable(opens in new window)
Contact information
Semester 2
Overview
Availability | Semester 2 |
---|---|
Fees | Look up fees |
Topics include: probability concepts; martingales in actuarial studies and finance; applications of Brownian motion, geometric Brownian motion and the lognormal distribution; stochastic calculus; models for financial time series; applications of Monte Carlo simulation in insurance and finance.
Intended learning outcomes
- Have an understanding of some probability concepts to solve problems using sigma-algebras, probability measures, random variables, distributions and expectations of random variables;
- Describe conditional expectations and apply their properties to simplify calculations;
- Construct and apply martingales in solving problems in insurance and finance;
- Gain basic knowledge of Brownian motion and geometric Brownian motion.
- Perform calculations with stochastic integrals and Ito's formula.
Generic skills
-
High level of development: written communication; problem solving; statistical reasoning; application of theory to practice; synthesis of data and other information.
Last updated: 22 March 2024
Eligibility and requirements
Prerequisites
For students who started their degree in 2007 or earlier:
BOTH of:
Code Name Teaching period Credit Points ACTL30006 Financial Mathematics III Semester 1 (On Campus - Parkville)12.5 Code Name Teaching period Credit Points MAST20005 Statistics Semester 2 (On Campus - Parkville)12.5
AND either:
- 620-113 Applied Mathematics (Advanced Plus) or;
- 620-123 Applied Mathematics (Advanced).
For students who started their degree in 2008 or later:
BOTH of:
Code Name Teaching period Credit Points ACTL30006 Financial Mathematics III Semester 1 (On Campus - Parkville)12.5 -
Code Name Teaching period Credit Points MAST20005 Statistics Semester 2 (On Campus - Parkville)12.5 No longer available
Corequisites
None
Non-allowed subjects
Student may not gain credit for both
and 300-332 Modelling in Insurance and Finance II.
Code
Name
Teaching period
Credit Points
ACTL30005
Models for Insurance and Finance
12.5
Recommended background knowledge
Please refer to Prerequisites and Corequisites.
Inherent requirements (core participation requirements)
The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 22 March 2024
Assessment
Additional details
- 50-minute mid-semester test, middle of semester (10%)
- One 1000-word assignment, due in the second half of semester (10%)
- 2-hour end-of-semester examination, end of semester (80%)
- To pass this subject students must pass the end of semester examination.
Last updated: 22 March 2024
Dates & times
- Semester 2
Principal coordinator Shuanming Li Mode of delivery On Campus (Parkville) Contact hours Three hours of lectures and/or tutorials per week Total time commitment 170 hours Teaching period 23 July 2018 to 21 October 2018 Last self-enrol date 3 August 2018 Census date 31 August 2018 Last date to withdraw without fail 21 September 2018 Assessment period ends 16 November 2018 Semester 2 contact information
Time commitment details
Estimated total time commitment of 170 hours.
Last updated: 22 March 2024
Further information
- Texts
Prescribed texts
You will be advised of prescribed texts by your lecturer.
Recommended texts and other resources
Information Not Available
- Subject notes
- Breadth options
This subject is available as breadth in the following courses:
- Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
Last updated: 22 March 2024