COURSE INTRODUCTION AND APPLICATION INFORMATION


Course Name
Actuaria
Code
Semester
Theory
(hour/week)
Application/Lab
(hour/week)
Local Credits
ECTS
STAT 551
Fall/Spring
3
0
3
7.5
Prerequisites
None
Course Language
English
Course Type
Elective
Course Level
Second Cycle
Mode of Delivery -
Teaching Methods and Techniques of the Course
Course Coordinator -
Course Lecturer(s)
Assistant(s) -
Course Objectives In this graduate course we introduce the role of statistics on actuarial concept, method and applications and techniques. Students will gain a basic knowledge of concept, method and application and the intersection of actuarial, risk management and statistical analysis The aim is to use statistical methods on insurance and actuarial analysis.
Learning Outcomes The students who succeeded in this course;
  • will be able to examine Actuarial.
  • will be able to analyze Risk management.
  • will be able to analyze Statistical analysis.
  • will be able to use Statistical methods on insurance and actuarial analysis.
  • will be able to use life insurance and their applications.
Course Description This course provides essential materials for analyzing acturatial concepts.
Related Sustainable Development Goals

 



Course Category

Core Courses
X
Major Area Courses
Supportive Courses
Media and Managment Skills Courses
Transferable Skill Courses

 

WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES

Week Subjects Required Materials
1 Definition and measuring of actuarial risk Systematic for RiskDangerDamage and statistical description ‘’Practical Risk Theory for Actuaries’’. Daykin, C.D., Pentikainen, T., Pesonen, M. (1994). ChapmanHall, ISBN-13: 978-0412428500
2 Risk processes: claim number and amount processes ‘’Practical Risk Theory for Actuaries’’. Daykin, C.D., Pentikainen, T., Pesonen, M. (1994). ChapmanHall, ISBN-13: 978-0412428500
3 Claim amount distributions ‘’Practical Risk Theory for Actuaries’’. Daykin, C.D., Pentikainen, T., Pesonen, M. (1994). ChapmanHall, ISBN-13: 978-0412428500
4 Collective and individual risk models ‘’Practical Risk Theory for Actuaries’’. Daykin, C.D., Pentikainen, T., Pesonen, M. (1994). ChapmanHall, ISBN-13: 978-0412428500
5 Population models and mortality impact ‘’Practical Risk Theory for Actuaries’’. Daykin, C.D., Pentikainen, T., Pesonen, M. (1994). ChapmanHall, ISBN-13: 978-0412428500
6 Probability of bankruptcy and strategic actuarial decision problems ‘’Practical Risk Theory for Actuaries’’. Daykin, C.D., Pentikainen, T., Pesonen, M. (1994). ChapmanHall, ISBN-13: 978-0412428500
7 Premium calculation; ceded and maintained amounts ‘’Practical Risk Theory for Actuaries’’. Daykin, C.D., Pentikainen, T., Pesonen, M. (1994). ChapmanHall, ISBN-13: 978-0412428500
8 Approaches for sharing and reducing actuarial risk ''Quantitative Risk Analysis'', Vose, D. , Wiley (1996). ISBN-13: 978-0471958031
9 Multiple competing actuarial risks ‘’Practical Risk Theory for Actuaries’’. Daykin, C.D., Pentikainen, T., Pesonen, M. (1994). ChapmanHall, ISBN-13: 978-0412428500
10 General stochastic processes models for risk processes ‘’Practical Risk Theory for Actuaries’’. Daykin, C.D., Pentikainen, T., Pesonen, M. (1994). ChapmanHall, ISBN-13: 978-0412428500
11 Short term insurance ‘’Practical Risk Theory for Actuaries’’. Daykin, C.D., Pentikainen, T., Pesonen, M. (1994). ChapmanHall, ISBN-13: 978-0412428500
12 Actuarial risk management ‘’Practical Risk Theory for Actuaries’’. Daykin, C.D., Pentikainen, T., Pesonen, M. (1994). ChapmanHall, ISBN-13: 978-0412428500
13 Actuarial risk management ‘’Practical Risk Theory for Actuaries’’. Daykin, C.D., Pentikainen, T., Pesonen, M. (1994). ChapmanHall, ISBN-13: 978-0412428500
14 Medium and long term insurance,life insurances, individual pension funds and similar applications ‘’Practical Risk Theory for Actuaries’’. Daykin, C.D., Pentikainen, T., Pesonen, M. (1994). ChapmanHall, ISBN-13: 978-0412428500
15 Semester review
16 Final exam
Course Notes/Textbooks

 ‘’Practical Risk Theory for Actuaries’’. Daykin, C.D., Pentikainen, T., Pesonen, M. (1994). ChapmanHall, ISBN-13: 978-0412428500

''Quantitative Risk Analysis'', Vose, D. , Wiley (1996). ISBN-13: 978-0471958031

Suggested Readings/Materials

‘’Modern Actuarial Risk Theory’’. Kaas, R., Gooaverts, M., Dhaene, J., Denuit, M. Kluwer Academic Publishers, (2001). ISBN-13: 978-0792376361

 

EVALUATION SYSTEM

Semester Activities Number Weigthing
Participation
Laboratory / Application
Field Work
Quizzes / Studio Critiques
Portfolio
Homework / Assignments
Presentation / Jury
Project
1
20
Seminar / Workshop
Oral Exam
Midterm
1
30
Final Exam
1
50
Total

Weighting of Semester Activities on the Final Grade
50
Weighting of End-of-Semester Activities on the Final Grade
50
Total

ECTS / WORKLOAD TABLE

Semester Activities Number Duration (Hours) Workload
Course Hours
(Including exam week: 16 x total hours)
16
3
48
Laboratory / Application Hours
(Including exam week: 16 x total hours)
16
Study Hours Out of Class
14
6
84
Field Work
Quizzes / Studio Critiques
Portfolio
Homework / Assignments
Presentation / Jury
Project
1
20
Seminar / Workshop
Oral Exam
Midterms
1
33
Final Exams
1
40
    Total
225

 

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

#
Program Competencies/Outcomes
* Contribution Level
1
2
3
4
5
1

To develop and deepen his/her knowledge on theories of mathematics and statistics and their applications in level of expertise, and to obtain unique definitions which bring innovations to the area, based on master level competencies,

X
2

To have the ability of original, independent and critical thinking in Mathematics and Statistics and to be able to develop theoretical concepts,

X
3

To have the ability of defining and verifying problems in Mathematics and Statistics,

X
4

With an interdisciplinary approach, to be able to apply theoretical and applied methods of mathematics and statistics in analyzing and solving new problems and to be able to discover his/her own potentials with respect to the application,

X
5

In nearly every fields that mathematics and statistics are used, to be able to execute, conclude and report a research, which requires expertise, independently,

X
6

To be able to evaluate and renew his/her abilities and knowledge acquired in the field of Applied Mathematics and Statistics with critical approach, and to be able to analyze, synthesize and evaluate complex thoughts in a critical way,

X
7

To be able to convey his/her analyses and methods in the field of Applied Mathematics and Statistics to the experts in a scientific way,

X
8

To be able to use national and international academic resources (English) efficiently, to update his/her knowledge, to communicate with his/her native and foreign colleagues easily, to follow the literature periodically, to contribute scientific meetings held in his/her own field and other fields systematically as written, oral and visual.

X
9

To be familiar with computer software commonly used in the fields of Applied Mathematics and Statistics and to be able to use at least two of them efficiently,

X
10

To contribute the transformation process of his/her own society into an information society and the sustainability of this process by introducing scientific, technological, social and cultural advances in the fields of Applied Mathematics and Statistics,

X
11

As having rich cultural background and social sensitivity with a global perspective, to be able to evaluate all processes efficiently, to be able to contribute the solutions of social, scientific, cultural and ethical problems and to support the development of these values,

X
12

As being competent in abstract thinking, to be able to connect abstract events to concrete events and to transfer solutions, to analyze results with scientific methods by designing experiment and collecting data and to interpret them,

X
13

To be able to produce strategies, policies and plans about systems and topics in which mathematics and statistics are used and to be able to interpret and develop results,

X
14

To be able to evaluate, argue and analyze prominent persons, events and phenomena, which play an important role in the development and combination of the fields of Mathematics and Statistics, within the perspective of the development of other fields of science,

X
15

In Applied Mathematics and Statistics, to be able to sustain scientific work as an individual or a group, to be effective in all phases of an independent work, to participate decision-making process and to make and execute necessary planning within an effective time schedule.

X

*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest