Week 7

Overview #

This week, we will cover the following topics:

• Actuarial Practice:
  • none this week
• Actuarial Techniques:
  • Mortality:
    • Lecture 3 “Mortality”: characteristics, causes, trends, mathematical models (Sections 3 and 4)
    • Lecture 4 “Fertility” and “Population projections” (Sections 5 and 6)

If you wish to watch the embedded videos from Lecture Capture, you need to have logged in and entered Lecture Capture via Canvas once for each session. This is to restrict access to students enrolled at the University of Melbourne only.

See also detailed learning outcomes for this week.

Main references and lectures #

Actuarial Practice #

n/a

Actuarial Techniques #

Demograpy #

Read: Mortality, Fertility, and Projections (Sections 1 and 2 on mortality models and life tables)

Annotate: slides

Watch Monday’s lecture (Sections 3 and 4): annotated slides from the pre-recorded lecture

If you wish to watch the embedded videos from Lecture Capture, you need to have logged in and entered Lecture Capture via Canvas once for each session. This is to restrict access to students enrolled at the University of Melbourne only.

Watch Wednesday’s lecture (Section 5 and 6): annotated slides from the pre-recorded lecture

If you wish to watch the embedded videos from Lecture Capture, you need to have logged in and entered Lecture Capture via Canvas once for each session. This is to restrict access to students enrolled at the University of Melbourne only.

Additional preparation and resources #

There aren’t any mandatory readings for week 7. It is a good opportunity to catch up on any reading from previous weeks that you haven’t had the time to read.

Mandatory #

1. n/a

Optional #

1. Read Section 3.3.3-3.5 of Atkinson and Dickson (2011); these correspond to Section 3 to 6 of the Mortality topic, respectively.

Tutorials #

The document will all questions and solutions is available here: Tutorial set.

Note that solutions will be gradually added to that same document. Hence it is not recommended to print it, as it will regularly change (typos will also dynamically be corrected).

This week #

This week, tutorials will focus on mortality calculations and life tables ( week 6 materials).

Note that due to the COVID-19 restrictions in Victoria, all tutorials will be on Zoom; follow the links under Zoom on Canvas.

Here is the recording available for Week 7:

If you wish to watch the embedded videos from Lecture Capture, you need to have logged in and entered Lecture Capture via Canvas once for each session. This is to restrict access to students enrolled at the University of Melbourne only.

Next week (week 8) #

Next week, we will discuss the week 7 set of “tutorial questions” (chapter 8). Solutions will be made available at the end of the week (8).

Later (week 9+) #

After next week (week 9+), you should do the “review questions” for week 7. Solutions will be available at the end of week 9.

Additional questions #

The “additional questions” are here for reinforcement or revision, but are not the main focus of the tutorials. Solutions for those exercises are already available.

Preparation for assessment #

Participation and Yellowdig (10%) #

• Connect to Yellowdig, ask questions, help others

Mid-semester (10%) and final (70%) exams #

• Finalise your own summary for week 5’s technical topics, as well as practice discussions
• Draft your own summary for week 6’s technical topics, as well as practice discussions
• Look at the whole “Time Value of Money” chapter as a whole to consolidate your understanding of it. Do you understand how the topics were structured in that order? Can you explain what the relationships between the different sections are? When looking at the valuation of a loan or a bond, can you identify where you are using all the topics you learnt in previous weeks?
• Look at the Sections 1 and 2 of the “Mortality” chapter as a whole to consolidate your understanding of it. Do you understand how the topics were structured in that order? Can you explain what the relationships between the different components are?

Assignment (10%) #

• Nothing to do for now.

References #