• Offered by Rsch Sch of Finance, Actuarial Studies & App Stats
  • ANU College ANU College of Business and Economics
  • Course subject Statistics
  • Areas of interest Actuarial Studies, Statistics
  • Academic career Undergraduate
  • Course convener
    • Dr Borek Puza
  • Mode of delivery In Person
  • Offered in Second Semester 2018
    See Future Offerings

This course covers the fundamental concepts of: Bayesian statistics, including estimation, prediction, hypothesis testing, and decision theory; time series analysis, including estimation and prediction based on ARIMA models; credibility theory, including limited fluctuation credibility theory and the Buhlmann-Straub model; several run-off techniques for estimating an outstanding claims reserve; and Monte Carlo techniques, including the inverse transformation method, the polar method, and Monte Carlo integration.

Learning Outcomes

Upon successful completion of the requirements for this course, students should have the knowledge and skills to:

  1. Explain the fundamental concepts of Bayesian statistics and use these concepts to calculate Bayesian estimators (including credibility estimators).
  2. Define and apply the main concepts underlying the analysis of time series models.
  3. Describe and apply techniques for analysing a delay (or run-off) triangle and projecting the ultimate position.
  4. Explain and apply the concepts of “Monte Carlo” simulation using a series of pseudo-random numbers.

Other Information

See the course outline on the College courses page. Outlines are uploaded as they become available. 

Indicative Assessment

Typical assessment may include, but is not restricted to: a mid-semester exam and a final exam

The ANU uses Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. While the use of Turnitin is not mandatory, the ANU highly recommends Turnitin is used by both teaching staff and students. For additional information regarding Turnitin please visit the ANU Online website.


Students are expected to commit at least 10 hours per week to completing the work in this course. This will include at least 3 contact hours per week and up to 7 hours of private study time.

Requisite and Incompatibility

To enrol in this course you must have completed STAT2001 Introductory Mathematical Statistics

Prescribed Texts



Tuition fees are for the academic year indicated at the top of the page.  

If you are a domestic graduate coursework or international student you will be required to pay tuition fees. Tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at Fees.

Student Contribution Band:
Band 2
Unit value:
6 units

If you are an undergraduate student and have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). You can find your student contribution amount for each course at Fees.  Where there is a unit range displayed for this course, not all unit options below may be available.

6.00 0.12500
Domestic fee paying students
Year Fee
2018 $3660
International fee paying students
Year Fee
2018 $5160
Note: Please note that fee information is for current year only.

Offerings and Dates

The list of offerings for future years is indicative only

Second Semester

Class number Class start date Last day to enrol Census date Class end date Mode Of Delivery
7600 23 Jul 2018 30 Jul 2018 31 Aug 2018 26 Oct 2018 In Person

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