Faculty of Business and Economics

ACST356 / ACST861: Mathematical Theory of Risk

Lecturer in charge

Associate Professor Leonie Tickle

Availability

D1 - Day; Offered in the first half-year

Unit Outline

Websites

Handbook entry

Coursework unit website - WebCT (Login required)

Description

This unit examines the use of statistical models in the insurance context. Statistical models of the number of claims and the sizes of the claims are studied. These models are used as a basis for the study of risk theory, ruin theory and the effect of reinsurance. The use of no claim discount systems as a method of experience rating is described. Decision theory and simulation are also studied.