Actuarial Modelling II (ACTL30002)
Undergraduate level 3Points: 12.5On Campus (Parkville)
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: 9 April 2025
Eligibility and requirements
Prerequisites
For students who commenced their degree in 2018 or earlier
All of
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| MAST20005 | Statistics |
Summer Term (On Campus - Parkville)
Semester 2 (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 |
Summer Term (On Campus - Parkville)
Semester 2 (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: 9 April 2025
Assessment
| Description | Timing | Percentage |
|---|---|---|
Assignment 1
| First half of the teaching period | 15% |
Assignment 2
| Second half of the teaching period | 15% |
End-of-semester examination
| During the examination period | 70% |
Last updated: 9 April 2025
Dates & times
- Semester 1
Principal coordinator Rui Zhou Mode of delivery On Campus (Parkville) Contact hours Two 1-hour lectures and one 1-hour tutorial per week (commencing in second week of semester) Total time commitment 170 hours Teaching period 26 February 2024 to 26 May 2024 Last self-enrol date 8 March 2024 Census date 3 April 2024 Last date to withdraw without fail 3 May 2024 Assessment period ends 21 June 2024 Semester 1 contact information
Rui Zhou: rui.zhou@unimelb.edu.au
Time commitment details
170 hours
What do these dates mean
Visit this webpage to find out about these key dates, including how they impact on:
- Your tuition fees, academic transcript and statements.
- And for Commonwealth Supported students, your:
- Student Learning Entitlement. This applies to all students enrolled in a Commonwealth Supported Place (CSP).
Subjects withdrawn after the census date (including up to the ‘last day to withdraw without fail’) count toward the Student Learning Entitlement.
Last updated: 9 April 2025
Further information
- Texts
- 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 (Production)
- 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.
Please note Single Subject Studies via Community Access Program is not available to student visa holders or applicants
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
Last updated: 9 April 2025