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Information
| Code | ISB331 |
| Name | Actuerial Models |
| Term | 2024-2025 Academic Year |
| Semester | 5. Semester |
| Duration (T+A) | 3-0 (T-A) (17 Week) |
| ECTS | 5 ECTS |
| National Credit | 3 National Credit |
| Teaching Language | Türkçe |
| Level | Lisans Dersi |
| Type | Normal |
| Label | FE Field Education Courses C Compulsory |
| Mode of study | Yüz Yüze Öğretim |
| Catalog Information Coordinator | Prof. Dr. DENİZ ÜNAL ÖZPALAMUTCU |
| Course Instructor |
Prof. Dr. ALİ İHSAN GENÇ
(A Group)
(Ins. in Charge)
|
Course Goal / Objective
The aim is to teach the basics of the actuarial science.
Course Content
The scope is the basics of actuarial science.
Course Precondition
None
Resources
Actuarial Mathematics-N.L. Bowers, H.U. Gerber, J.C. Hickman, D.A. Jones, C.J. Nesbitt
Notes
Actuarial Mathematics-N.L. Bowers, H.U. Gerber, J.C. Hickman, D.A. Jones, C.J. Nesbitt
Course Learning Outcomes
| Order | Course Learning Outcomes |
|---|---|
| LO01 | Explains the utility theory. |
| LO02 | Explains the relation between utility and insurance. |
| LO03 | Constructs an individual risk model for a short term. |
| LO04 | Finds the distribution of the sum of some independent random variables. |
| LO05 | Uses the central limit theorem. |
| LO06 | Does calculations with survival functions. |
| LO07 | Explains a life table. |
| LO08 | Explains the importance of the actuarial science in real life. |
Relation with Program Learning Outcome
| Order | Type | Program Learning Outcomes | Level |
|---|---|---|---|
| PLO01 | Bilgi - Kuramsal, Olgusal | Explain the essence fundamentals and concepts in the field of Statistics | |
| PLO02 | Bilgi - Kuramsal, Olgusal | Emphasize the importance of Statistics in life | 4 |
| PLO03 | Bilgi - Kuramsal, Olgusal | Define basic principles and concepts in the field of Law and Economics | |
| PLO04 | Bilgi - Kuramsal, Olgusal | Produce numeric and statistical solutions in order to overcome the problems | |
| PLO05 | Bilgi - Kuramsal, Olgusal | Use proper methods and techniques to gather and/or to arrange the data | |
| PLO06 | Bilgi - Kuramsal, Olgusal | Utilize computer programs and builds models, solves problems, does analyses and comments about problems concerning randomization | |
| PLO07 | Bilgi - Kuramsal, Olgusal | Apply the statistical analyze methods | |
| PLO08 | Bilgi - Kuramsal, Olgusal | Make statistical inference (estimation, hypothesis tests etc.) | |
| PLO09 | Bilgi - Kuramsal, Olgusal | Generate solutions for the problems in other disciplines by using statistical techniques and gain insight | |
| PLO10 | Bilgi - Kuramsal, Olgusal | Discover the visual, database and web programming techniques and posses the ability of writing programs | |
| PLO11 | Beceriler - Bilişsel, Uygulamalı | Distinguish the difference between the statistical methods | |
| PLO12 | Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği | Make oral and visual presentation for the results of statistical methods | 3 |
| PLO13 | Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği | Have capability on effective and productive work in a group and individually | 3 |
| PLO14 | Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği | 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 | 4 |
| PLO15 | Yetkinlikler - Öğrenme Yetkinliği | Develop scientific and ethical values in the fields of statistics-and scientific data collection |
Week Plan
| Week | Topic | Preparation | Methods |
|---|---|---|---|
| 1 | Introduction to actuarial science | literature review | |
| 2 | Utility function | literature review | |
| 3 | Maximizing expected utility | literature review | |
| 4 | Optimal insurance | literature review | |
| 5 | Individual risk model | literature review | |
| 6 | Distribution of sums of random variables | literature review | |
| 7 | Approximate distribution of sums of random variables | literature review | |
| 8 | Mid-Term Exam | literature review | |
| 9 | Stop-loss insurance and normal distribution | literature review | |
| 10 | Survival distributions | literature review | |
| 11 | Force of mortality | literature review | |
| 12 | Life table and technical notations | literature review | |
| 13 | A life table example | literature review | |
| 14 | A deterministic approach for life table calculations | literature review | |
| 15 | Life table calculations via interpolation | literature review | |
| 16 | Term Exams | literature review | |
| 17 | Term Exams | literature review |
Student Workload - ECTS
| Works | Number | Time (Hour) | 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 | 0 | 0 | 0 |
| Mid-term Exams (Written, Oral, etc.) | 1 | 12 | 12 |
| Final Exam | 1 | 18 | 18 |
| Total Workload (Hour) | 114 | ||
| Total Workload / 25 (h) | 4,56 | ||
| ECTS | 5 ECTS | ||