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Course Description Course Name : Actuarial Models Course Code : İSB331 Course Type : Compulsory Level of Course : First Cycle Year of Study : 3 Course Semester : Fall (16 Weeks) ECTS : 5 Name of Lecturer(s) : Assoc.Prof.Dr. DENİZ ÜNAL Learning Outcomes of the Course : The concept of life insurance. compute the the rate of interest, accumulated value, present value. construct the relationship between life insurance problemslife tables. solve the problems with related annuities. compute net annual premium. compute net annual premium. solve the problems of life insurance. Mode of Delivery : Face-to-Face Prerequisites and Co-Prerequisites : None Recommended Optional Programme Components : None Aim(s) of Course : Financial Mathematics, life insurance, mortality tables and calculation methods based on these tables Course Contents : Interest rates, the cumulative value, cash value, Annuities, life tables, the cumulative value of life insurance, the annual net premium Language of Instruction : Turkish Work Place : Faculty of Arts and Sciences Annex Classrooms   Course Outline /Schedule (Weekly) Planned Learning Activities Week Subject Student's Preliminary Work Learning Activities and Teaching Methods 1 Interest rates, Simple and compound interests Reading the source Face to face description,discussion 2 Compound interest rates according to compound interests, Discount rates Reading the source Face to face description,discussion 3 Simple discount on the interest rate, discount rate over the simple discount, equivalent interest and discount rates, cash value of compound interest, discount rates Reading the source Face to face description,discussion 4 Applications of the theory of compound interest, annuity introduction to the concept Reading the source Face to face description,discussion 5 Evaluation of rents Reading the source Face to face description,discussion 6 Evaluation of rents Reading the source Face to face description,discussion 7 Rents paid m times a year, Reading the source Face to face description,discussion 8 Mid-term exam Reading the source Writing Exam 9 Life (mortality) table, the possibilities to live and die Reading the source Face to face description,discussion 10 death rate, death rate actuarial functions Reading the source Face to face description,discussion 11 Life Annuities, Deferred capital Reading the source Face to face description,discussion 12 Limited term life annuities Reading the source Face to face description,discussion 13 Continuous Life Annuities, lifelong life insurance Reading the source Face to face description,discussion 14 Deferred life insurance, Limited term life insurance Reading the source Face to face description,discussion 15 Deferred life insurance, Limited term life insurance Reading the source Face to face description,discussion 16/17 Final Exam Reading the source Writing Exam   Required Course Resources Resource Type Resource Name Recommended Course Material(s)  Aktüerya Matematiği ve Yaşam Analizi, Akdeniz, F., Erdugan, F.  Bowers N.L., Gerber H.U., Hickman J.C., Jones D.A. Nesbitt C.J. Actuarial Mathematics. Society of Actuaries, Schaumburg, 1997  A.K. Gupta, T. Varga. An Introduction to Actuarial Mathematics, Kluwer Academic Publishers, 2002 Required Course Material(s)   Assessment Methods and Assessment Criteria Semester/Year Assessments Number Contribution Percentage     Mid-term Exams (Written, Oral, etc.) 1 80     Homeworks/Projects/Others 5 20 Total 100 Rate of Semester/Year Assessments to Success 40   Final Assessments 100 Rate of Final Assessments to Success 60 Total 100   Contribution of the Course to Key Learning Outcomes # Key Learning Outcome Contribution* 1 Utilize computer systems and softwares 0 2 Apply the statistical analyze methods 2 3 Make statistical inference(estimation, hypothesis tests etc.) 3 4 Generate solutions for the problems in other disciplines by using statistical techniques 5 5 Discover the visual, database and web programming techniques and posses the ability of writing programme 0 6 Construct a model and analyze it by using statistical packages 0 7 Distinguish the difference between the statistical methods 4 8 Be aware of the interaction between the disciplines related to statistics 5 9 Make oral and visual presentation for the results of statistical methods 0 10 Have capability on effective and productive work in a group and individually 1 11 Develop scientific and ethical values in the fields of statistics-and scientific data collection 0 12 Explain the essence fundamentals and concepts in the field of Probability, Statistics and Mathematics 2 13 Emphasize the importance of Statistics in life 4 14 Define basic principles and concepts in the field of Law and Economics 2 15 Produce numeric and statistical solutions in order to overcome the problems 3 16 Construct the model, solve and interpret the results by using mathematical and statistical tehniques for the problems that include random events 3 17 Use proper methods and techniques to gather and/or to arrange the data 2 18 Professional development in accordance with their interests and abilities, as well as the scientific, cultural, artistic and social fields, constantly improve themselves by identifying training needs 0 * Contribution levels are between 0 (not) and 5 (maximum).   Student Workload - ECTS Works Number Time (Hour) Total Workload (Hour) Course Related Works     Class Time (Exam weeks are excluded) 14 3 42     Out of Class Study (Preliminary Work, Practice) 14 3 42 Assesment Related Works     Homeworks, Projects, Others 5 2 10     Mid-term Exams (Written, Oral, etc.) 1 10 10     Final Exam 1 15 15 Total Workload: 119 Total Workload / 25 (h): 4.76 ECTS Credit: 5