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UNIVERSITI TEKNOLOGI MARA
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Course Name (English)
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STOCHASTIC MODELING FOR ACTUARIAL APPLICATION
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| Course Code |
ASC486 |
| Course Description |
This course introduces the students with the stochastic processes and their application. This course follows the syllabus of Core Statistics 2 from Institute and Faculty of Actuaries (IFOA). |
| Transferable Skills |
Demonstrate professional skills, knowledge and competencies. |
| Teaching Methodologies |
Lectures, Tutorial |
| CLO |
| CLO1 |
Describe the general principles of stochastic processes and their classification. |
| CLO2 |
Define and apply Markov chain. |
| CLO3 |
Define and apply Markov process. |
| CLO4 |
Demonstrate lifelong learning skills in assignments related to stochastic models. |
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| Pre-Requisite Courses |
No course recommendations |
| Reading List | | Recommended Text | - James R. Kirkwood 2015, Markov Processes (Advances in Applied Mathematics), 1st Ed., CRC Press [ISBN: 13 978-148224]
- Sheldon M. Ross 2014, Introduction to Probability Models, 11th Ed., Academic Press [ISBN: 13 9780124079]
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| Reference Book Resources | - Karlin S. and H. M. Taylor 1998, An Introduction to Stochastic Modelling, 3rd Ed., Academic Press [ISBN: 978-0-12-6848]
- Brzezniak Zdzislaw; Zastawwniak, Tomasz 1998, Basic Stochastic Processes: A Course Through Exercises, Springer [ISBN: ISBN 3 540 76]
- Institute and Faculty of Actuaries (IFOA) 2019, Actuarial Statistics- CS2 Core Reading, Institute and Faculty of Actuaries
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| Article/Paper List | | Reference Article/Paper Resources | - James C. Hickman 1997, Introduction to Actuarial Modelling, Journal of North American Actuarial, 1
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| Other References | This Course does not have any other resources |
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