Unit convenor and teaching staff |
Unit convenor and teaching staff
Lecturer
Yanlin Shi
Contact via email
Room 729, 4 Eastern Road
TBA
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Credit points |
Credit points
4
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Prerequisites |
Prerequisites
STAT810 or STAT806
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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 provides sophisticated statistical and probabilistic models for survival, sickness, insurance losses and other actuarial problems based on survival data. Techniques of survival analysis are used to estimate survival and loss distributions and evaluate risk factors in actuarial applications. Methods of both nonparametric and parametric estimation are utilised. Advanced models based on Markov chains and processes will be introduced to capture the features of stochastic transitions between different survival or loss states and to estimate the transition rates. Methods for valuing cashflows that are contingent upon multiple transition events and methods of projecting and valuing such expected cashflows will also be covered.
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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:
Extensions and penalties on coursework assessment tasks
• No extensions will be granted. There will be a deduction of 10% of the total available marks made from the total awarded mark for each 24 hour period or part thereof that the submission is late (for example, 25 hours late in submission – 20% penalty). This penalty does not apply for cases in which an application for special consideration is made and approved. No submission will be accepted after solutions have been posted.
Close-book mid-term test and final examination
• The mid-term test and final examination will be close-book. For each test, students will be provided reference sheets which cover relevant contents of Formulae and Tables for Actuarial Examinations (2002) published by the Institute and Faculty of Actuaries. Non-programmable calculators with no text-retrieval capacity are permitted.
Gradebook
• It is the responsibility of students to view their marks for each within session assessment on iLearn within 20 working days of posting. If there are any discrepancies, students must contact the unit convenor immediately. Failure to do so will mean that queries received after the release of final results regarding assessment marks (not including the final exam mark) will not be addressed.
• Assessment criteria for all assessment tasks will be provided on the unit iLearn site.
Supplementary exams
• Information regarding supplementary exams, including dates, is available at: http://www.businessandeconomics.mq.edu.au/current_students/undergraduate/how_do_i/special_consideration
Name | Weighting | Hurdle | Due |
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Individual Assignment | 20% | No | Week 7 |
Mid-term Test | 20% | No | Week 8 |
Final Exam | 60% | No | Examination Period |
Due: Week 7
Weighting: 20%
Problem-solving questions requiring detailed solutions using the statistical package R.
Due: Week 8
Weighting: 20%
Problem-solving questions requiring detailed solutions
Due: Examination Period
Weighting: 60%
Problem-solving questions requiring detailed solutions
Classes
• This unit is taught through 2 hours of lectures and 2 hours of workshops/tutorials per week.
• The timetable for classes can be found on the University web site at: http://www.timetables.mq.edu.au/
• Workshops/tutorials start in Week 1.
Unit Web Page
• The web page for this unit can be found at: http://ilearn.mq.edu.au
Technology Used and required
• You will need access to the internet to obtain course information and download teaching materials from the unit website.
• It is your responsibility to check the unit website regularly to make sure that you are upto-date with the information for the unit.
• The statistical package R will be extenstively employed in this unit. The application of R is essential to completing the Individual Assignment.
• Application of R will be introduced in the weekly workshop/tutorial.
• Students are expected to understand and properly use R outputs in the Mid-term test and Final exam.
Required and Recommended Texts and/or Materials
• Lecture Notes are the required materials and will be posted on the website before the lectures.
• The main additional reading materials are the ActEd CS2 notes. This will also be used as background reading for ACST886.
Week 1: Probability models (revision); Survival analysis
Week 2: Estimation of survival distributions
Week 3: Variance estimation and confidence intervals
Week 4: Cox proportional hazards models
Week 5: Cox proportional hazards models; Stochastic processes;
Week 6: Markov chains
Week 7 (last week before semester break): Markov chains; Due of Individual Assignment
Week 8 (first week after semester break): Markov jump processes; Mid-term test
Week 9: Markov jump processes
Week 10: Applications of Markov processes
Week 11: Applications of Markov processes
Week 12: Competitive risks and multiple decrement tables
Week 13: Revision
Note: This is only a tentative schedule. The actual schedule will be adjusted from time to time in accordance with the progress of lectures.
Macquarie University policies and procedures are accessible from Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central). Students should be aware of the following policies in particular with regard to Learning and Teaching:
Undergraduate students seeking more policy resources can visit the Student Policy Gateway (https://students.mq.edu.au/support/study/student-policy-gateway). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.
If you would like to see all the policies relevant to Learning and Teaching visit Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central).
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/study/getting-started/student-conduct
Results published on platform other than eStudent, (eg. iLearn, Coursera etc.) 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 or if you are a Global MBA student contact globalmba.support@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.
For all student enquiries, visit Student Connect at ask.mq.edu.au
If you are a Global MBA student contact globalmba.support@mq.edu.au
For help with University computer systems and technology, visit http://www.mq.edu.au/about_us/offices_and_units/information_technology/help/.
When using the University's IT, you must adhere to the Acceptable Use of IT Resources 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: