ASC486 - STOCHASTIC MODELING FOR ACTUARIAL APPLICATION

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UNIVERSITI TEKNOLOGI MARA

Course Name (English) STOCHASTIC MODELING FOR ACTUARIAL APPLICATION Course Code ASC486 MQF Credit 4 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. 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] 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 Article/Paper List Reference Article/Paper Resources James C. Hickman 1997, Introduction to Actuarial Modelling, Journal of North American Actuarial, 1 Other References This Course does not have any other resources