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Actuarial Modelling II (ACTL30002)
Undergraduate level 3Points: 12.5On Campus (Parkville)
For information about the University’s phased return to campus and in-person activity in Winter and Semester 2, please refer to the on-campus subjects page.
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable(opens in new window)
Contact information
Please refer to the LMS for up-to-date subject information, including assessment and participation requirements, for subjects being offered in 2020.
Overview
Availability | Semester 1 |
---|---|
Fees | Look up fees |
The aim of this subject is to provide students with grounding in mathematical and statistical modelling techniques that are of particular relevance to actuarial work, including methods of estimating mortality rates and assessing their adherence to data and smoothness, as well as techniques for mortality projections. Also, elementary principles of machine learning are covered, with applications to mortality modelling.
Intended learning outcomes
On completion of this subject, students should be able to:
- Apply the principles of actuarial modelling
- Demonstrate how to estimate transition intensities depending on age, exactly or using the census approximation
- Test crude estimates for consistency with a standard table or a set of graduated estimates, and illustrate the process of graduation
- Outline the approaches to forecasting mortality rates, including the Lee-Carter, age-period-cohort and p-spline regression models, and, using a computer package, apply these models to a mortality dataset
- Appraise and apply elementary principles of machine learning
- Employ prerequisite mathematical and statistical concepts in solving problems on the above topics
Generic skills
- High level of development: written communication; problem solving; statistical reasoning; application of theory to practice; use of computer software.
Last updated: 11 April 2024
Eligibility and requirements
Prerequisites
For students who commenced their degree in 2018 or earlier
All of
Code | Name | Teaching period | Credit Points |
---|---|---|---|
MAST20005 | Statistics |
Semester 2 (On Campus - Parkville)
Summer Term (On Campus - Parkville)
|
12.5 |
ACTL20002 Financial Mathematics II
For students who commenced their degree in 2019 or later (i.e. entry into this subject from 2021 onwards)
All of
Code | Name | Teaching period | Credit Points |
---|---|---|---|
ACTL20003 | Stochastic Techniques in Insurance | Semester 2 (On Campus - Parkville) |
12.5 |
MAST20005 | Statistics |
Semester 2 (On Campus - Parkville)
Summer Term (On Campus - Parkville)
|
12.5 |
Corequisites
None
Non-allowed subjects
300-330 Survival Models: Theory and Applications
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: 11 April 2024
Assessment
Due to the impact of COVID-19, assessment may differ from that published in the Handbook. Students are reminded to check the subject assessment requirements published in the subject outline on the LMS
Description | Timing | Percentage |
---|---|---|
Assignment 1 (Week 5)
| First half of the teaching period | 15% |
Assignment 2 (Week 11)
| Second half of the teaching period | 15% |
End-of-semester exam
| During the examination period | 70% |
Last updated: 11 April 2024
Dates & times
- Semester 1
Coordinator Kevin Fergusson Mode of delivery On Campus (Parkville) Contact hours Two x 1-hour lecture during semester; 1x1 hour tutorial per week commencing in second week of semester. Total time commitment 170 hours Teaching period 2 March 2020 to 7 June 2020 Last self-enrol date 13 March 2020 Census date 30 April 2020 Last date to withdraw without fail 5 June 2020 Assessment period ends 3 July 2020
Time commitment details
170 hours
Last updated: 11 April 2024
Further information
- Texts
Prescribed texts
You will be advised of prescribed texts by your lecturer.
Recommended texts and other resources
Information Not Available
- Breadth options
This subject is available as breadth in the following courses:
- Bachelor of Arts
- Bachelor of Design
- Bachelor of Environments
- Bachelor of Fine Arts (Acting)
- Bachelor of Fine Arts (Animation)
- Bachelor of Fine Arts (Dance)
- Bachelor of Fine Arts (Film and Television)
- Bachelor of Fine Arts (Music Theatre)
- Bachelor of Fine Arts (Screenwriting)
- Bachelor of Fine Arts (Theatre)
- Bachelor of Fine Arts (Visual Art)
- Bachelor of Music
- 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.
- Available to Study Abroad and/or Study Exchange Students
This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.
Last updated: 11 April 2024