Aims and Fit of Module

This module provides solid probabilistic and statistical tools to estimate parameters for a variety of actuarial models. Students are also required to understand the model selection. Students gain the ability to design models according to different type of data and a thorough understanding of credibility theories to calculate premiums.

Learning outcomes

A	Apply mathematical, statistical and probabilistic skills to solve actuarial models.
B	Understand, construct and estimate parameters for parametric
models
C	Perform the estimation for complete and modified data
D	Select models based on hypothesis tests
E	Understand and estimate losses using credibility procedures
F     Evaluate formulas for Bühlmann and Bühlmann-Straub credibility models
G    Perform empirical Bayes parameter estimation 

Method of teaching and learning

This module will be delivered by a combination of formal lectures and tutorial sessions.