Dr Gelly Mitrodima

This course is compulsory on the BSc in Actuarial Science. This course is available on the BSc in Business Mathematics and Statistics, BSc in Data Science and BSc in Mathematics, Statistics and Business. This course is available as an outside option to students on other programmes where regulations permit. This course is not available to General Course students.

This course has a limited number of places (it is capped, the maximum number of students will be 130) and priority will be given to students on BSc Business, Mathematics and Statistics and BSc Mathematics, Statistics and Business. Whilst there are places available to students from outside this programme they are very limited and are allocated on a first come first served basis.

Students must have completed Mathematical Methods (MA100) and Elementary Statistical Theory (ST102).

Students must have completed one of the following two combinations of courses: (a) ST102 and MA100, or (b) MA107 and ST109 and EC1C1. Equivalent combinations may be accepted at the lecturer’s discretion.”

• Introduction to actuarial modelling
• The application of compound interest techniques to financial transactions
• Generalised cash-models to describe financial transactions such as zero-coupon bonds, fixed interest securities, cash on deposit, equities, interest only loans, repayment loans, annuities certain and others
• Introduction to R programming for Actuarial Science
• Introduction to life insurance

20 hours of lectures, 9 hours of seminars, 9 hours of computer workshops and 9 hours of help sessions in the MT.

This course will be delivered through a combination of classes, lectures and Q&A sessions totalling a minimum of 47 hours across Michaelmas Term. This year, some of this teaching may be delivered through a combination of classes and flipped-lectures delivered as short online videos. This course includes a reading week in Week 6 of Michaelmas Term.

Students will be expected to work in groups and give written answers to a number of problem sets throughout the term. 

J. J. McCutcheon & W. J. Scott, An Introduction to the Mathematics of Finance, Heinemann; Institute and Faculty of Actuaries, Formulae and Tables for Actuarial Examinations; Core reading notes obtainable from the Institute and Faculty of Actuaries;D. Dickson, M. Hardy & H. Waters,  Actuarial Mathematics for Life Contingent Risks, International Series on Actuarial Science, pp. I-Vi. Cambridge University Press. 2009

Exam (90%, duration: 3 hours) in the January exam period.
Online assessment (10%) in January.

The timed (2 hours) online assessment will be during the January examination period i.e. Week 0.