Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
Ken Siu
Contact via email
E4A618
Please refer to the i-Learn announcement.
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Credit points |
Credit points
4
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Prerequisites |
Prerequisites
STAT806 or STAT810
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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:
Criteria and standards for grading
Name | Weighting | Hurdle | Due |
---|---|---|---|
Early Assessment Quiz | 5% | No | Week 3 |
Class Test | 35% | No | Week 9 |
Final Examination | 60% | No | In the university exam period |
Due: Week 3
Weighting: 5%
1. This will be an online quiz with five multiple choices questions.
2. It is envisaged that the online quiz will cover all materials in Weeks 1-2.
3. Please use the quiz as an indicator of whether you are progressing satisfactorily in the unit. If you are having difficulties, please see the Unit Convenor and consider withdrawing before the census date on Friday of week 4.
4. Late assessments, extensions, penalties, resubmissions
Due: Week 9
Weighting: 35%
1. Non-programmable calculators with no text-retrieval capacity are allowed.
2. No dictionaries permitted.
3. One A4 sheet of notes double-sized (typed or handwritten) permitted.
4. It is envisaged that the class test will cover all materials from Week 1 to Week 7.
5. The class test will be held in the lecture.
6. Class test under Midterm and Final examination conditions described in the general assessment information section.
7. Additional question(s) will be given in the class test for students taking ACST 862.
Due: In the university exam period
Weighting: 60%
1. Non-programmable calculators with no text-retrieval capacity are allowed.
2. No dictionaries permitted.
3. One A4 sheet of notes double-sized (typed or handwritten) permitted.
4. It is envisaged that the final examination will cover all materials in the unit.
5. Class test 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: https://timetables.mq.edu.au/2017/
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:
Some additional references will be listed in the lecture notes.
Unit Web Page
To access the website, go to http://ilearn.mq.edu.au and login using your usual login and password.
Unit Guides, Lectures, Tutorials and Assessments Materials (Whenever Applicable)
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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1. Time Series Box Jenkin Algorithm I: Identification and Estimation 2. Online Quiz |
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 |
Introduction to Claim Reserving
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Revision | |
9 |
1. Class Test 2. 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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1. Outstanding Claims (stochastic) 2. Revision |
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_2016.html
Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html
Complaint Management Procedure for Students and Members of the Public http://www.mq.edu.au/policy/docs/complaint_management/procedure.html
Disruption to Studies Policy (in effect until Dec 4th, 2017): http://www.mq.edu.au/policy/docs/disruption_studies/policy.html
Special Consideration Policy (in effect from Dec 4th, 2017): https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policies/special-consideration
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.
Supplementary exams
Information regarding supplementary exams, including dates, is available at: http://www.businessandeconomics.mq.edu.au/current_students/undergraduate/how_do_i/disruption_to_studies
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
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:
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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25/07/2017 | The class test has been changed from Week 8 to Week 9. |