Ms Margaret Atkinson 618-101 Mathematics 1A Second semester Two 1-hour lectures and a 1-hour tutorial each week At the end of this subject, the student will:

• understand and be able to apply fundamentals of compound interest to problems;
• understand and be able to apply the life table to demographic problems;
• have some appreciation of the actuarial profession and its current role; and
• have attained some knowledge in respect of the major products, markets and institutions where actuaries work.

Compound interest operations including housing loans, personal loans, bonds and the use of a spreadsheet to solve these problems; the life table and its application to life insurance; finite differences; an introduction to insurance products; the role of the actuary; the significance of the financial institutions where actuarial management is used. A 3-hour end of semester examination (80%), a mid semester test (10%), and an assignment of up to 1,500 words (10%). Additional assignments will also form an integral component of this subject. Knox, Zima and Brown, Mathematics of Finance, McGraw Hill