ETC2430 Actuarial statistics
Faculty of Business and Economics
ETC2430 Actuarial statistics is a level 2, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2020 in Semester 1 at Clayton. It needs ETB1100, ETW1000, STA1010, ETC1000, ETW1100, ETF1100, FIT1006 or SCI1020 and unlocks 6 units, leading on to 9 units in all.
- Credit points
- 6
- Offered in 2020
- Semester 1
- Clayton
- Workload
- 144 hours
- per semester
This is the 2020 handbook entry. See the 2027 entry.
Reviews
No reviews yetNo reviews yet. Be the first to review ETC2430.
Requisites
Before ETC2430
Prerequisites
Pass these before you enrol.
- ETB1100Business statisticsNo reviews yet
- ETW1000Business and economic statisticsNo reviews yet
- STA1010Statistical methods for scienceNo reviews yet
- ETC1000Business and economic statisticsNo reviews yet
- ETW1100Introduction to business analyticsNo reviews yet
- ETF1100Business statisticsNo reviews yet
- FIT1006Business information analysisNo reviews yet
- SCI1020Introduction to statistical reasoningNo reviews yet
After ETC2430
6 units list ETC2430 as a prerequisite or corequisite.
- ETC3430Financial mathematics under uncertaintyNo reviews yet
- ETC3520Foundations of quantitative financeNo reviews yet
- ETC3530Contingencies in insurance and pensionsNo reviews yet
- ETC5343Financial mathematics under uncertaintyNo reviews yet
- ETC5352Foundations of quantitative financeNo reviews yet
- ETC5353Insurance and pensionsNo reviews yet
Enrolment rules
If students are enrolled in course B6014, there is no prerequisite.
Overview
This unit will introduce students to basic financial and stochastic techniques used in actuarial work, and will give an overview of some of the areas in which actuaries are currently involved. Students will be introduced to the basic concepts involved in interest rates and time value of money, leading to assessing and pricing future risks and pricing insurance products, using past data.
Offerings in 2020
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Clayton | On campus |
| First semester (Fully flex) | Clayton | Flexible |
Learning outcomes
When you finish this unit, you should be able to:
- 1
introduce actuarial discounting concepts and basic actuarial notation
- 2
introduce statistical techniques in actuarial work
- 3
develop an understanding of interest rates and the actuarial analysis of cash flows
- 4
understand the use of equation of value in actuarial pricing and appraisal.
Workload and teaching
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
Where it fits
ETC2430 is part of 2 areas of study in the 2020 handbook.
Contacts
- Chief Examiners
- Professor Brett Inder
Common questions
What are the prerequisites for ETC2430?
You need ETB1100, ETW1000, STA1010, ETC1000, ETW1100, ETF1100, FIT1006 or SCI1020 before you enrol. Enrolment rules also apply.
What can I take after ETC2430?
ETC2430 is a prerequisite or corequisite for 6 units, including ETC3430, ETC3520, ETC3530, ETC5343, ETC5352 and ETC5353. Those lead on to 9 units in all.
When is ETC2430 offered?
In 2020, ETC2430 runs in Semester 1 at Clayton.
How much work is ETC2430?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Which majors and minors include ETC2430?
ETC2430 is part of Actuarial studies.