Course: Actuarial Demography

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Course title Actuarial Demography
Course code UMKM/PADEP
Organizational form of instruction Lecture + Lesson
Level of course Master
Year of study not specified
Semester Winter
Number of ECTS credits 5
Language of instruction Czech
Status of course Compulsory
Form of instruction Face-to-face
Work placements This is not an internship
Recommended optional programme components None
Lecturer(s)
  • Jindrová Pavla, Mgr. Ph.D.
  • Pacáková Viera, prof. RNDr. Ph.D.
Course content
Characteristics of basic generally used mortality tables. Calculation of mortality rates and other decrements. Theoretical aspects of the point and interval estimation of the mortality rates in mortality population tables. Mortality models - binomial and Poisson with regard to its application in the life insurance. Graduation methods: graphical, analytical and standard table method. Non-parametric and spleeny graduation methods. Graduation significance and its quality assessment methods - Chi quadrate test, sign test, cumulative deviation test and sign conversion test. Procedures of the life expectancy estimation: Kaplan-Meier survival analysis. Analysis of the Cox's proportional hazard model. Statistic models of the transition between several states, e.g. alive, sick, dead. Relations between probabilities and transition intensities, estimation of the parameters of these models.

Learning activities and teaching methods
Monologic (reading, lecture, briefing), Work with text (with textbook, with book), Demonstration, Projection, Skills training
Learning outcomes
The aim of the course is to interpret basic issues of the actuarial demography and methods of its solving. The course acquaints the students with the mortality rate and mortality models in relation to its application in the life insurance. Great deal is dedicated to the mortality rate graduation methods (smoothing), its applications and quality graduation results testing. Furthermore, the course interprets methods estimating life expectancy and regression models of the survival probability, function of risks and life expectancy with the application in the life insurance.
Student acquires necessary theoretical knowledge and computational acquirements in Excelu and in suitable statistical program system for construction of mortality tables, graduation of mortality measures , simulation of lifetime length and survival probability
Prerequisites
Prerequisite for successful mastering of this subject is knowledge of mathematics, probability theory and statistics within the range taught at universities.

Assessment methods and criteria
Home assignment evaluation, Student performance assessment, Work-related product analysis, Systematic monitoring

Assessment and examination - completion of all given tasks and passing the written test.
Recommended literature
  • Benjamin B., Pollard S.H. The Analysis of Mortality and Other Actuarial Statistics. Londýn Institute of Actuaries, 1993.
  • Cipra, Tomáš. Pojistná matematika : teorie a praxe. Praha: Ekopress, 2006. ISBN 80-86929-11-6.
  • DICKSON, D. C. M., HARDY, M. R., WATERS, H. R.:. Actuarial Mathematics for Life Contingent Risks. CAMBRIDGE University Press, 2009.
  • Fiala T. Výpočty aktuárské demografie v tabulkovém procesoru. Praha VŠE, 2005.
  • Koschin F. Aktuárská demografie. VŠE Praha, 2002.
  • Sekerka B. Matematické a statistické metody ve financování, cenných papírech a pojištění. Profess Consulting Praha, 2002.


Study plans that include the course
Faculty Study plan (Version) Branch of study Category Recommended year of study Recommended semester
Faculty of Economics and Administration Insurance Engineering (2014) Economy 1 Winter
Faculty of Economics and Administration Insurance Engineering (2014) Economy 1 Winter