|
| Course Description |
|
| Course Name |
: |
Actuarial Risk Analysis |
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| Course Code |
: |
İSB406 |
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| Course Type |
: |
Optional |
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| Level of Course |
: |
First Cycle |
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| Year of Study |
: |
4 |
|
| Course Semester |
: |
Spring (16 Weeks) |
|
| ECTS |
: |
5 |
|
| Name of Lecturer(s) |
: |
Assoc.Prof.Dr. DENİZ ÜNAL
|
|
| Learning Outcomes of the Course |
: |
Have knowledge of actuaria and rsik
Have knowledge about utility theory
Have knowledge about indiviual and collective risk models
have knwoledge of ruin theory
Know premiums
|
|
| Mode of Delivery |
: |
Face-to-Face |
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| Prerequisites and Co-Prerequisites |
: |
None |
|
| Recommended Optional Programme Components |
: |
none |
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| Aim(s) of Course |
: |
to learn the utility theory, individual and collective risk models, ruin theory and premium principle |
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| Course Contents |
: |
actuaria, risk, utility theory and ruin theory |
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| Language of Instruction |
: |
Turkish |
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| Work Place |
: |
Faculty of Arts and Sciences Annex Classrooms |
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Course Outline /Schedule (Weekly) Planned Learning Activities |
| Week | Subject | Student's Preliminary Work | Learning Activities and Teaching Methods |
|
1 |
Definitions of Actuarial risk |
Studying related sources |
description, discussion,presentation |
|
2 |
Utility theory |
Studying related sources |
description, discussion,presentation |
|
3 |
Utility theory and insurance |
Studying related sources |
description, discussion,presentation |
|
4 |
İndividual risk models |
Studying related sources |
description, discussion,presentation |
|
5 |
Application: optimal reinsurance |
Studying related sources |
description, discussion,presentation |
|
6 |
Collective Risk Models, claims |
Studying related sources |
description, discussion,presentation |
|
7 |
Compound distributions, Panjer´s recursion, stop-loss insurance |
Studying related sources |
description, discussion,presentation |
|
8 |
Mid-term exam |
Studying related sources |
written exam |
|
9 |
ruin theory |
Studying related sources |
description, discussion,presentation |
|
10 |
Risk process |
Studying related sources |
description, discussion,presentation |
|
11 |
Exponantial claims, Beekman´s convolution formula |
Studying related sources |
description, discussion,presentation |
|
12 |
Premium Principle and properties of premium principles |
Studying related sources |
description, discussion,presentation |
|
13 |
Premium Principle and properties of premium principles |
Studying related sources |
description, discussion,presentation |
|
14 |
Bonus-malus systems |
Studying related sources |
description, discussion,presentation |
|
15 |
Credibility theory |
Studying related sources |
description, discussion,presentation |
|
16/17 |
Final Exam |
Studying related sources |
written exam |
|
|
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Required Course Resources |
| Resource Type | Resource Name |
| Recommended Course Material(s) |
 Actuarial Mathematics, 1997. Bowers, N., Gerber, H., Hickman, J., Jones, D., Nesbitt, C., the society of actuaries
Modern Actuarial Risk Theory 2001, Kaas, R., Goovaerts, M., Dhaene, J., Denuit, M.
|
| |
| Required Course Material(s) | |
|
|
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Assessment Methods and Assessment Criteria |
|
Semester/Year Assessments |
Number |
Contribution Percentage |
|
Mid-term Exams (Written, Oral, etc.) |
1 |
60 |
|
Homeworks/Projects/Others |
5 |
40 |
|
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 |
5 |
|
3 |
Make statistical inference(estimation, hypothesis tests etc.) |
0 |
|
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 |
0 |
|
8 |
Be aware of the interaction between the disciplines related to statistics |
4 |
|
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 |
5 |
|
11 |
Develop scientific and ethical values in the fields of statistics-and scientific data collection |
5 |
|
12 |
Explain the essence fundamentals and concepts in the field of Probability, Statistics and Mathematics |
0 |
|
13 |
Emphasize the importance of Statistics in life |
5 |
|
14 |
Define basic principles and concepts in the field of Law and Economics |
3 |
|
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 |
4 |
|
17 |
Use proper methods and techniques to gather and/or to arrange the data |
0 |
|
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 |
5 |
| * 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 |
|
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 |
5 |
25 |
|
Mid-term Exams (Written, Oral, etc.) |
1 |
10 |
10 |
|
Final Exam |
1 |
15 |
15 |
|
Total Workload: | 134 |
| Total Workload / 25 (h): | 5.36 |
| ECTS Credit: | 5 |
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