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| Course Description |
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| Course Name |
: |
Actuarial Analysis |
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| Course Code |
: |
ISB-560 |
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| Course Type |
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Optional |
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| Level of Course |
: |
Second Cycle |
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| Year of Study |
: |
1 |
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| Course Semester |
: |
Spring (16 Weeks) |
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| ECTS |
: |
6 |
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| Name of Lecturer(s) |
: |
Assoc.Prof.Dr. DENİZ ÜNAL
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| Learning Outcomes of the Course |
: |
Understand the economics of insurance
Define the approximations for the distribution of the sum
Have the ability to interpret survival distributions and life tables and the survival functions
Comprehend the utility theory
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| Mode of Delivery |
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Face-to-Face |
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| Prerequisites and Co-Prerequisites |
: |
None |
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| Recommended Optional Programme Components |
: |
None |
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| Aim(s) of Course |
: |
This course aims to supply the students with the knowledge about
- the economics of insurance utility theory Individual risk models Survival distributions,
- Survival distributions and life tables,
- Life insurance, Level benefit insurance, endowment insurance, deferred insurance,
- Continuous and discrete Life annuities |
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| Course Contents |
: |
The economics of insurance utility theory Individual risk models Survival distributions, Survival distributions and life tables, Life insurance,Level benefit insurance, endowment insurance, deferred insurance, Continuous and discrete Life annuities |
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| Language of Instruction |
: |
Turkish |
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| Work Place |
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Seminar hall of the department |
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Course Outline /Schedule (Weekly) Planned Learning Activities |
| Week | Subject | Student's Preliminary Work | Learning Activities and Teaching Methods |
|
1 |
The economics of insurance |
Reading the source ,preparing the project |
Lecture, discussion, |
|
2 |
utility theory |
Reading the source ,preparing the project |
Lecture, discussion, |
|
3 |
Individual risk models |
Reading the source ,preparing the project |
Lecture, discussion, |
|
4 |
Approximations for the Distribution of the sum |
Reading the source ,preparing the project |
Lecture, discussion, |
|
5 |
Survival distributions |
Reading the source ,preparing the project |
Lecture, discussion, |
|
6 |
Survival distributions and life tables |
Reading the source ,preparing the project |
Lecture, discussion, |
|
7 |
The survival functions |
Reading the source ,preparing the project |
writing exam |
|
8 |
Mid-term exam |
Reading the source |
Lecture, discussion, |
|
9 |
Force of mortality |
Reading the source ,preparing the project |
Lecture, discussion, |
|
10 |
Life insurance,Level benefit insurance, endowment insurance, deferred insurance |
Reading the source ,preparing the project |
Lecture, discussion, |
|
11 |
Level benefit insurance, endowment insurance, deferred insurance |
Reading the source ,preparing the project |
Lecture, discussion, |
|
12 |
Continuous and discrete Life annuities |
Reading the source ,preparing the project |
Lecture, discussion, |
|
13 |
Benefit premiums |
Reading the source ,preparing the project |
Lecture, discussion, |
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14 |
Benefit reserves |
Reading the source ,preparing the project |
Lecture, discussion, |
|
15 |
Final Exam |
Reading the source |
Writing Exam |
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Required Course Resources |
| Resource Type | Resource Name |
| Recommended Course Material(s) |
 Practical Risk Theory for Actuaries, Daykin, C. D., Pentikainen, T., Pesonen, M.
Actuarial Theory for Dependent Risks, Denuit, J. Dhaene, M. Goovaerts, R. Kaas.
MODERN AKTUERIAL RISK THEORY
R. Kaas
M.J. Goovaerts
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| |
| Required Course Material(s) | |
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Assessment Methods and Assessment Criteria |
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Semester/Year Assessments |
Number |
Contribution Percentage |
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Mid-term Exams (Written, Oral, etc.) |
1 |
80 |
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Homeworks/Projects/Others |
5 |
20 |
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Total |
100 |
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Rate of Semester/Year Assessments to Success |
40 |
| |
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Final Assessments
|
100 |
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Rate of Final Assessments to Success
|
60 |
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Total |
100 |
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| Contribution of the Course to Key Learning Outcomes |
| # | Key Learning Outcome | Contribution* |
|
1 |
Possess advanced level of theoretical and applicable knowledge in the field of Probability and Statistics. |
3 |
|
2 |
Conduct scientific research on Mathematics, Probability and Statistics. |
5 |
|
3 |
Possess information, skills and competencies necessary to pursue a PhD degree in the field of Statistics. |
0 |
|
4 |
Possess comprehensive information on the analysis and modeling methods used in Statistics. |
0 |
|
5 |
Present the methods used in analysis and modeling in the field of Statistics. |
0 |
|
6 |
Discuss the problems in the field of Statistics. |
0 |
|
7 |
Implement innovative methods for resolving problems in the field of Statistics. |
3 |
|
8 |
Develop analytical modeling and experimental research designs to implement solutions. |
2 |
|
9 |
Gather data in order to complete a research. |
3 |
|
10 |
Develop approaches for solving complex problems by taking responsibility. |
5 |
|
11 |
Take responsibility with self-confidence. |
5 |
|
12 |
Have the awareness of new and emerging applications in the profession |
5 |
|
13 |
Present the results of their studies at national and international environments clearly in oral or written form. |
0 |
|
14 |
Oversee the scientific and ethical values during data collection, analysis, interpretation and announcment of the findings. |
0 |
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15 |
Update his/her knowledge and skills in statistics and related fields continously |
0 |
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16 |
Communicate effectively in oral and written form both in Turkish and English. |
0 |
|
17 |
Use hardware and software required for statistical applications. |
0 |
| * Contribution levels are between 0 (not) and 5 (maximum). |
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| Student Workload - ECTS |
| Works | Number | Time (Hour) | Total Workload (Hour) |
| Course Related Works |
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Class Time (Exam weeks are excluded) |
14 |
3 |
42 |
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Out of Class Study (Preliminary Work, Practice) |
14 |
3 |
42 |
| Assesment Related Works |
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Homeworks, Projects, Others |
5 |
6 |
30 |
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Mid-term Exams (Written, Oral, etc.) |
1 |
15 |
15 |
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Final Exam |
1 |
20 |
20 |
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Total Workload: | 149 |
| Total Workload / 25 (h): | 5.96 |
| ECTS Credit: | 6 |
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