Course ID: | RMIN 9650. 3 hours. |
Course Title: | Risk Theory Seminar |
Course Description: | Risk theory and its applications including basic concepts of actuarial mathematics. Importance of utility theory and ruin theory to modeling of the insurance process is investigated. Application of probability and statistical techniques to the analysis of pure losses and loss distributions. |
Oasis Title: | RISK THEORY SEMINAR |
Prerequisite: | Permission of department |
Semester Course Offered: | Offered every year. |
Grading System: | A-F (Traditional) |
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Course Objectives: | Examination of risk theory and its applications including basic concepts of
actuarial mathematics. Importance of utility theory and ruin theory to modeling of
the insurance process is investigated. Application of probability and statistical
techniques to the analysis of pure losses and loss distributions. Each student is
required to fully prepare each problem set in writing. |
Topical Outline: | Topic and Readings
Introduction to Risk and Utility
Individual Risk Theory and Some Applications
Useful Statistical Concepts and Probability Distributions
Collective Risk Theory: Basic Theory
Collective Risk Theory: Estimating the Total Claims Distribution
Parameter Estimation and Goodness-of-Fit Tests and Simulation
Credibility Theory
Portfolio Theory and Risk Management
Applications and Enterprise Risk Management |