Short-Term Actuarial Mathematics

Catalog description

Helps the student understand the steps involved in the modeling process and how to carry out these steps in solving business problems. Also enhances students' understanding in actuarial models. Topics include: selection of parametric models, Bayesian estimation, limited fluctuation credibility, Bayesian credibility, Buhlmann and Buhlmann-Straub models, empirical Bayesian methods, simulation techniques in actuarial science, bootstrapping algorithm, Markov Chain Monte Carlo method (MCMC).