- Code STAT8036
- Unit Value 6 units
- 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
- Academic career PGRD
- Dr Borek Puza
- Mode of delivery In Person
Second Semester 2019
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.
Upon successful completion, students will have the knowledge and skills to:Upon successful completion of the requirements for this course, students should have the
knowledge and skills to:
1. Explain in detail 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. Be able to communicate and apply techniques for analysing a delay (or run-off) triangle and
projecting the ultimate position.
4. Explain in detail and apply the concepts of “Monte Carlo” simulation using a series of
pseudo-random numbers. Define the basics of Markov chain Monte Carlo methods.
This course, together with STAT3035 (Risk Theory), constitutes Subject CT6 of the Institute of Actuaries of Australia. To get an exemption from the Institute, you need to get an average of at least 60% for these two courses.
See the course outline on the College courses page. Outlines are uploaded as they become available.
Typical assessment may include, but is not restricted to: a mid-semester exam and a final exam
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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
Tuition fees are for the academic year indicated at the top of the page.
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- Student Contribution Band:
- 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.
Offerings, Dates and Class Summary Links
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Class summaries, if available, can be accessed by clicking on the View link for the relevant class number.