Module Catalogues, Xi'an Jiaotong-Liverpool University   
 
Module Code: MTH306
Module Title: Credibility Theory
Module Level: Level 3
Module Credits: 5.00
Academic Year: 2019/20
Semester: SEM2
Originating Department: Mathematical Sciences
Pre-requisites: N/A
   
Aims
Students gain a thorough understanding of credibility theories to calculate premiums. Students are also required to understand the application of theories to the data and know the basics of simulation. In order to provide a useful treatment of these topics, it is necessary to stress fundamentals and explore topics at both technical and theoretical levels.
Learning outcomes 
A analyze limited fluctuations models

B apply greatest accuracy models to determine premiums

C construct American, Bayesian and exact credibility models

D Evaluate formulas for Bühlmann and Bühlmann-Straub credibility models.

E perform empirical Bayes parameter estimation (need more exactly)

F apply the knowledge of simulation in actuarial modeling

Method of teaching and learning 
This module is delivered through formal lectures and tutorial classes
Syllabus 
• Apply limited fluctuation (classical) credibility including criteria for both full and partial credibility.

• Perform Bayesian analysis using both discrete and continuous models.

• Apply Bühlmann and Bühlmann-Straub models and understand the relationship of these to the Bayesian model.

• Apply conjugate priors in Bayesian analysis and in particular the Poisson-gamma model.

• Apply empirical Bayesian methods in the nonparametric and semiparametric cases

• The application of simulation in actuarial and financial modeling.

Delivery Hours  
Lectures Seminars Tutorials Lab/Prcaticals Fieldwork / Placement Other(Private study) Total
Hours/Semester 39    13      98  150 

Assessment

Sequence Method % of Final Mark
1 Assignments (2) 15.00
2 Midterm Exam 15.00
3 Final Exam 70.00

Module Catalogue generated from SITS CUT-OFF: 12/9/2019 11:53:18 PM