300-406 Risk Theory I

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300-406 Risk Theory I
Credit Points	12.5
Coordinator	S Li
Prerequisites	300-315 Actuarial Statistics.
Semester	1 (view timetable)
Contact	Three hours of lectures and/or tutorials per week
Subject Description	Topics include collective risk model, calculation of moments and mgf of aggregate claims; recursion formulae (e.g. Panjer's and Schröter's), effect of reinsurance; individual risk model, De Pril's recursion formula and Kornya's method; fundamentals of decision theory; credibility theory; exact credibility and the Bühlmann-Straub model.
Generic Skills	High level of development: written communication; problem solving; statistical reasoning; application of theory to practice; interpretation and analysis.
Assessment	A 50-minute mid-semester test (20%) and a 2-hour end-of-semester examination (80%).

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