Principle of Actuarial Science
"This course aims to provide you with a comprehensive training in actuarial science. The lectures cover particularly concepts in life insurance aspect. The lectures include the fundamental techniques about life insurance rate making, expense estimation, reserves, etc.. The lectures will also discuss about the life table and different survival models.
In completing this course, you are expected to know how to use life table and mathematical models to design life insurance products, including expense estimation, rate making and reserve calculation. Multimedia resources will also be used in the class to enhance the learning experience. "
Risk management researches how to deal with the uncertainty of the future. This course first teaches the risk principle, indicating the nature of the risk, the cost of risk and risk management procedures and objectives, and then analyzes property damage risk, legal liability risk, human capital risk and financial risk of the enterprises. On this basis, we study decision-making models commonly used, especially discuss insurance and hedging in detail. Then we will analyze other factors that affect the enterprise risk management. Finally, we explain some of the practical application of risk management.
Through this course, students will have a systematic understanding of the theory of risk and risk management, understand the entry point of a comprehensive risk management measures and the selection principle, have a certain ability to solve practical problems.
Mainly about: modern financial theory and the basic financial tools, financial analysis of stochastic basis, financial derivative securities pricing model, including Black Scholes model and other models, the principle of risk neutral pricing, financial market risk analysis and risk hedging strategies, sensitivity measurement, term structure and interest rate derivative securities, financial derivative securities pricing numerical method and computer simulation method.
The course teaches student using the SAS system with an easy starting attitude, it includes SAS programming, data management, reporting and graphics, basic statistical analysis techniques. The course will also introduce R, another statistical software. R is especially suitable for programming statistical algorithms, and it is one of the most prefered developement and computing tools used by statisticians.
Applied Stochastic Processes
This is an introductory course for undergraduate students of math/stat major. The topics covered by this course include random walk, Markov chains, Poisson process, jump process and Brownian motion. We emphasis the intuitions behind these random models. Students taking this course are required to have a good training in probability as well as calculus and linear algebra.
Mathematical analysis is one of the most important courses for the students who wish to study the mathematics and related subjects. The course mainly includes the theory of Riemann integrals and the theory of series. The course is a basis for Mathematical analysis and for many courses such as differential equations; differential geometry, functions of one complex variable; real analysis, probability; basic physics, etc. The course provides the training for the mathematical thinking and skills.
This is an introductory course in financial econometric. We will discuss the basic analytic tools and their applications. The course focuses mainly on the linear model specification, Ordinary Least Square regression method, and limits of classical OLS method.
Principles of economics is the basic course for economics major, and also introduces basic economics for other majors.The course is composed of two parts: Microeconomics and Macroeconomics. We offer basic knowledge of economics in this course, and also enhance students understanding of everyday economy affairs. Most importantly, the course pay special attention to the intuitions of economics through class as well as exercises. We believe economics is not just an brunch of math or others, it has its own perspectives. training intuitions will do help students understan unique perspectives of economics.
Probability Theory and Statistics
Basic probability, Statistical inference,Estimation ,Testing ,Regression
The content of the course consists of polynomials, linear spaces and linear transformations. This course will train the students with mathematical thinkings and the preliminary ability for solving practical problems.
life mathematics of insurance
The aims of this course are to
(i) Provide an introduction to mathematical methods for life insurance that will assist students in understanding actuary
research in their field and
(ii) Enable students to apply these mathematical methods in their own research.
Non-life Actuarial Mathematics
Applied Regression Analysis
Applied regression analysis is the courese that blends theory and applications effectively. Through the study during the course, it is required for students to know the theory and methods of regression analysis and can explain the analysis result practically. As the mean while, it is required for students to learn some statistic software to solve the questions.
Applied Time Series Analysis
"Time Series Analysis is one of the specialized subject courses of the Department of Probability and Statistics. It mainly teaches students theory and practices on analysis and modeling of correlated data, and basic knowledge of stationary time series. It focuses on time domain models, but also give introduction to frequency domain concepts.
Principles of Insurance
It introduces the basic theory and knowledge of risk, risk management and insurance. The course covers the subjects of risk and risk management, insurance institution, insurance contract, insurance market, life insurance, property insurance, operation and management of insurance companies, social insurance, etc. The purpose of the course is to lead students to grasp the basic principles of insurance products, understand the basic mechanism of insurance market and the basic operation of insurance companies, and develop the ability to observe and analyze various insurance phenomenons.
Theory of Investment
The main content of course includes:(1)The Basics of Investments.(2) Security Markets and Trading.(3)Valuation of Non-fixed Income Securities.(4)Fixed Income Securities.(5)Derivative Securities.(6)Protfolios.(7)Manegement of Investment.(8)Merger ,Combination and Aquisition in Capital Market.(9)Investment Fund.
Money and Finance
This lesson includes the contents as below:the introduction of Financial markets, interest rates, principle of Bank, Model of money supply, financial innovation, monetary policy and so on
This course teaches macroeconomics at the intermediate level. It elaborates on the main macro economics topics including national income, money and inflation, unemployment, business cycles and economics growth. The basic analytical framework such as the IS-LM model is taught through which the key macro economic variables and their interactions can be studied. The course also discusses government economic policies and their implications. As time permits, a brief introductory to modern macroeconomics theories will be given.
This course will discuss the basic principles of microeconomics, but in a more formal and structured way than the introductory economics does. The topics will include the classical price theory (consumer choice, producer theory and market equilibrium analysis), market failure (externality and public goods), as well as some recent exciting developments in game theory and information economics. While we try as much as possible to demonstrate the beauty and rigor of microeconomic theories, we will apply these analytical tools to the real world and test the validity of their predictions. I will use many real world examples to show the relevance and power of economic thinking. To be sure, the principles we will cover in this course provide the foundation of almost all theories in modern economics.
Conceptual introduction to financial accounting. Emphasis is placed on wealth and income measurement and the preparation and interpretation of conventional financial statements.