Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
Ken Siu
Contact via email
E4A618
Tues 16h-17h
Lecturer
Jackie Li
Contact via Email
Please refer to iLearn
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Credit points |
Credit points
4
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Prerequisites |
Prerequisites
STAT806 or STAT810(P)
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Corequisites |
Corequisites
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Co-badged status |
Co-badged status
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Unit description |
Unit description
This unit examines the use of statistical models in the general insurance context. Applications will include methods of estimating reserves for future insurance payments, generalised linear models and time series models.
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Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
On successful completion of this unit, you will be able to:
To be eligible to pass this unit, a pass is required in the final examination
Standardised Numerical Grade (SNG) will be awarded based on your overall performance. An SNG gives you an indication of how you have performed within the band for your descriptive grade. The SNG is not a mark, and you may not be able to work it out based on your raw examination and other assessment marks. Nor are you able to determine you are “one mark away” from a different grade.
Supplementary Exams. Further information regarding supplementary exams, including dates, is available here http://www.businessandeconomics.mq.edu.au/current_students/undergraduate/how_do_i/special_consideration
Name | Weighting | Due |
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Class Test | 10% | Tuesday 6 October 14:00h |
Assignment | 20% | TBA |
Final Examination | 70% | In the university exam period |
Due: Tuesday 6 October 14:00h
Weighting: 10%
Non-programmable calculators with no text-retrieval capacity are allowed.
Class test under Midterm and Final examination conditions described in the general assessment information section
Additional question(s) will be given in the class test for students taking ACST 862.
Due: TBA
Weighting: 20%
TBA
Due: In the university exam period
Weighting: 70%
Examination under Midterm and Final examination conditions described in the general assessment information section
Classes
The timetable for classes can be found on the University web site at www.timetables.mq.edu.au.
Required texts
A set of lecture notes and study pack including tutorial exercises and R examples are available for downloading from the ACST357/862 teaching website.
Optional ActEd material
The ActEd CT6 are not set as required or recommended reading for this unit, since the lecture notes are comprehensive and detailed.
Other useful references:
Unit Web Page
To access the website, go to http://ilearn.mq.edu.au and login using your usual login and password.
Lecture notes
Week Number |
Week Beginning Monday |
Topic and Notes | Tutorial |
1 |
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Time Series: Introduction; Stationary Time Series; ACF and PACF | No tutorial |
2 |
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Time Series: Autoregressive (AR) Models; Moving Average (MA) Models; Autoregressive Integrated Moving Average (ARIMA) Models |
Tutorial Set 1 |
3 |
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Time Series Box Jenkin Algorithm I: Identification and Estimation |
Tutorial Set 2 |
4 |
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Time Series: Box Jenkin Algorithm II: Diagnostic Checking and Prediction
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Tutorial Set 3
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5 |
GLMs: Review of Linear Regression; Introduction to GLMs |
Tutorial Set 4 | |
6 | GLMs: Exponential Family Linear Predictor; Link Function | Tutorial Set 5 | |
7 |
GLMs: Model Fitting, Selection and Analysis of Residuals
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Tutorial Set 6 | |
STUDY BREAK |
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No classes No classes |
STUDY BREAK |
8 |
1. Class Test 2. Introduction to Claim Reserving
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Revision | |
9 | Introduction to Claim Reserving | Tutorial Set 7 | |
10 |
Outstanding Claims (deterministic) |
Tutorial Set 8 | |
11 | Outstanding Claims (deterministic) | Tutorial Set 9 | |
12 | Outstanding Claims (stochastic) | Tutorial Set 10 | |
13 |
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Outstanding Claims (stochastic) | Tutorial Set 11 |
Macquarie University policies and procedures are accessible from Policy Central. Students should be aware of the following policies in particular with regard to Learning and Teaching:
Academic Honesty Policy http://mq.edu.au/policy/docs/academic_honesty/policy.html
Assessment Policy http://mq.edu.au/policy/docs/assessment/policy.html
Grading Policy http://mq.edu.au/policy/docs/grading/policy.html
Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html
Grievance Management Policy http://mq.edu.au/policy/docs/grievance_management/policy.html
Disruption to Studies Policy http://www.mq.edu.au/policy/docs/disruption_studies/policy.html The Disruption to Studies Policy is effective from March 3 2014 and replaces the Special Consideration Policy.
In addition, a number of other policies can be found in the Learning and Teaching Category of Policy Central.
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/support/student_conduct/
Results shown in iLearn, or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit ask.mq.edu.au.
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
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When using the University's IT, you must adhere to the Acceptable Use Policy. The policy applies to all who connect to the MQ network including students.
Our postgraduates will be able to demonstrate a significantly enhanced depth and breadth of knowledge, scholarly understanding, and specific subject content knowledge in their chosen fields.
This graduate capability is supported by:
Our postgraduates will be capable of utilising and reflecting on prior knowledge and experience, of applying higher level critical thinking skills, and of integrating and synthesising learning and knowledge from a range of sources and environments. A characteristic of this form of thinking is the generation of new, professionally oriented knowledge through personal or group-based critique of practice and theory.
This graduate capability is supported by:
Our postgraduates will be capable of systematic enquiry; able to use research skills to create new knowledge that can be applied to real world issues, or contribute to a field of study or practice to enhance society. They will be capable of creative questioning, problem finding and problem solving.
This graduate capability is supported by:
The student will learn some basic theories and methodologies in time series analysis, generalized linear models and run-off triangles which are expected to be useful for researching and practising general insurance pricing and reserving.
Date | Description |
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24/07/2015 | Co-badged status is removed. |