Module Catalogues

Actuarial Mathematics

Module Title Actuarial Mathematics
Module Level Level 4
Module Credits 5.00

Aims and Fit of Module

This course will provide a theoretical basis for applications of modeling principles in actuarial work. Students will be systematically introduced to the concepts of quantitative methods encountered in classical problems of stochastic asset liability models and financial mathematics, so that they can transfer the theoretical basis to actuarial practice. The course starts with interest and behavioral finance theory, then introduces the theories of asset and liability models, and the application of common asset and liability valuation methods in actuarial work.

Learning outcomes

A.	Define and calculate standard actuarial notations and concepts.  
B.	Describe and interpret the theories on the behaviour of financial markets.
C.	Recognise the advantages and disadvantages of different measures of investment risk.
D.	Describe, construct, and appraise models underlying asset valuations.
E.	Describe, construct, and appraise models underlying liability valuations.

Method of teaching and learning

This module is delivered through formal lectures and tutorials.