Business School

School of Risk & Actuarial Studies

ACTL2111
FINANCIAL MATHEMATICS



Course Outline
Semester 1, 2016


Part A: Course-Specific Information

Please consult Part B for key information on Business School

policies (including those on plagiarism and special consideration),
student responsibilities and student support services.

business.unsw.edu.au

CRICOS Code 00098G

Table of Contents

PART A: COURSE-SPECIFIC INFORMATION

STAFF CONTACT DETAILS

COURSE DETAILS

2.1 Teaching Times and Locations

2.2 Units of Credit
2.3 Summary of Course
2.4 Course Aims and Relationship to Other Courses
2.5 Student Learning Outcomes

3
4
4
4
4

LEARNING AND TEACHING ACTIVITIES

3.1 Approach to Learning and Teaching in the Course

3.2 Learning Activities and Teaching Strategies

7
8

ASSESSMENT

4.1 Formal Requirements

4.2 Assessment Details
4.3 Assignment Submission Procedure
4.4 Late Submission

8
9
10
11

COURSE RESOURCES

11

COURSE EVALUATION AND DEVELOPMENT

13

COURSE SCHEDULE

13

Dear Students

business.unsw.edu.au

CRICOS Code 00098G

Welcome to ACTL2111 Financial Mathematics.

This course corresponds to a major component of the CT1 course of the
Institute of Actuaries/Faculty of Actuaries.

In this course outline, you will find the details of the course requirements,
course aims and learning outcomes, content, teaching methods, assessment
tasks, texts and readings, and expectations.

The way the course is taught this year is radically different. It is often
referred to as flipped.

The main rationale for this new structure is to bring the face-to-face time later in
the learning process, when students are more comfortable with the materials,
and more likely to interact and ask questions. The first conceptual encounter
with the materials happens at home when students watch video lectures. They
then move on to practicing their knowledge with tutorial exercises. At this stage,
tutorial sessions provide some face-to-face on a weekly basis to personalise
help. Consultation is also available. Towards the end of the learning of a given
module, everyone gathers in the lecture room for a lectorial. The word
combines lecturesbecause they are run by the lecturer, and with the whole
group, and tutorialbecause their goal is not to lecture students, but to
discuss a module at a higher conceptual level, and to cement students learning
with other activities (such as guest lectures, discussions, advanced exercises).

Please read this outline carefully and thoroughly, as it will be assumed that you
are familiar with its contents.

If you have any questions about the course at any time, please contact me.

I look forward to guiding your learning for the duration of the course.


Priya Dev Lecturer in charge

PART A: COURSE-SPECIFIC INFORMATION

business.unsw.edu.au

CRICOS Code 00098G

1 STAFF CONTACT DETAILS

Lecturer-in-charge: Dr Priya Dev
Room 645 Business School East Wing Level 6
Phone No: 9385 2647
Email: [email protected]
Consultation Times Weeks 1 to 12
Thursday 10:00 am 11:00 am Physics Theatre K-K14-19 during non-lecture
weeks
Monday 4:00pm 5:00pm in the foyer outside the department of Risk &
Actuarial Studies located on Level 6 of the Business School during lecture
weeks.

2 COURSE DETAILS
2.1 Teaching Times and Locations
This course will be taught using an innovative flipped teaching model where students
adopt an online self-learning strategy. As a result, there will be half the number of face-
to-face lecture contact hours. Lectures begin in Week 1 and continue every fortnight
from Week 2 to Week 12: The Time and Location is: Thursday 9:00 am 11:00 am
Physics Theatre K-K14-19. Tutorials start in Week 1 (and continue weekly to Week
12).

Tutorial Time
Location
Staff
Contact
Thu
11:00- Webster 251 (K- Dr Priya
[email protected]
12:00
G14-251)
Dev
Thu
11:00- Quadrangle
Muhhmad
[email protected]
12:00
G045
(K-E15- Rahman
G045)
Mon 13:00 - Quadrangle
Oliver
[email protected]
14:00
G052
(K-E15- Wood
G052)
Mon 13:00 - Quadrangle
Muhhmad
[email protected]
14:00
G035
(K-E15- Rahman
G035)
Mon 14:00 - Quadrangle
Muhhmad
[email protected]
15:00
G034
(K-E15- Rahman
G034)
Tue 16:00 - Quadrangle
Oliver
[email protected]
17:00
G025
(K-E15- Wood
G025)
Wed 09:00 - Webster 302 (K- Mark
[email protected]
10:00
G14-302)
Lavender
Wed 10:00 - Webster 251 (K- Mark
[email protected]
11:00
G14-251)
Lavender
Wed 14:00 - Webster 302 (K- Dale Chen [email protected]
15:00
G14-302)
Wed 15:00 - Webster 302 (K- Dale Chen [email protected]
16:00
G14-302)

business.unsw.edu.au

CRICOS Code 00098G

2.2 Units of Credit

The course is worth 6 units of credit.

2.3 Summary of Course

This course develops the financial mathematics required for the analysis of financial
and insurance transactions. Topics covered include: mathematics of compound
interest; valuation of cash flows of simple insurance contracts; analysis and valuation of
annuities, bonds, loans and other securities; yield curves and immunisation;
introduction to stochastic interest rate models and actuarial applications.

2.4 Course Aims and Relationship to Other Courses

At the end of the course students should be able to:
A. Explain how to evaluate, and assign a single value to a series of contingent
cash flows under different assumptions on the time value of money (interest);
B. Understand and assess the principles underlying the evaluation of the main
securities that are available in the financial markets;
C. Demonstrate an ability to apply the technical skills related to the course in a
practical context.

This course covers financial mathematics at an introductory level. The assumed
knowledge of the course is a good understanding of mathematics as covered in a full
year undergraduate program in Calculus and Linear Algebra. The main mathematical
topics are covered in a series of lectures by Randell Heyman that are available on
Blackboard on the ACTL students common website (section Back to Basics: Basic
Mathematical Tools for Actuarial Students). Students should review these lectures at
the very latest by the end of the first week.

ACTL2111 Financial Mathematics builds on the basic concepts of financial
mathematics. Parts of the course will apply some of the concepts covered in
ACTL2131 Probability and Statistics for Actuaries. More advanced models are covered
in Session 2 in ACTL2102/5103 Stochastic Models for Actuarial Applications. The
course is necessary knowledge for the more advanced coverage in ACTL3141
Financial Economics for Insurance and Superannuation and is an introduction to the
more extensive coverage in ACTL3151/5105 Life Insurance and Superannuation
Models.

Furthermore, students should be able to use a word processing package (such as
WORD), a spreadsheet (such as EXCEL) and computational software (such as R,
MATLAB, or MAPLE). Students are expected to develop their skills in R throughout the
course.

2.5 Student Learning Outcomes

The aims of Section 2.4 (A to C) have been unpacked in the following learning
outcomes. At the end of the course students should be able to:
A1. Understand the concept of time value of money;
A2. Explain and compare different types of interest: simple vs compound interest,
discount interest, nominal vs effective interest rates, rate vs force of interest,
real vs money interest rates, the term structure of interest, as well as simple
stochastic interest models;

business.unsw.edu.au

CRICOS Code 00098G

A3. Understand the relation between a present value, a set of cash flows and
interest, as well as understand the interest rate risk (duration, immunisation);
A4. Explain how to modify a simple valuation problem by taking into account tax
and transaction costs;
A5. Assess financial calculations for reasonableness and criticise their
assumptions;
B1. Describe, compare and value the following securities: bonds, shares, loans,
forwards and futures contracts, options, annuities and life insurance contracts;
B2. Describe the basic market conventions in the securities and money markets for
the instruments introduced during the course;
B3. Develop formulae for the expected value and variance of the present values of
simple insurance and annuity contracts, assuming constant deterministic
interest;
C1. Integrate financial valuation concepts to practical situations such as in
investment project appraisals or in financial markets;
C2. Explain difficult concepts in simple terms and in an effective way, both in oral
and written forms;
C3. Use R to implement the models introduced in the course.
The course covers the syllabus of the Institute of Actuaries CT1 Financial Mathematics
examination. The courses Learning Outcomes relate to the aims of Actuaries Institute
of Australia aims in the following way:
Course Learning Outcomes Actuaries Institute aims
A1
CT1: 2
A2
CT1: 3, 4, 13, 14
A3
Not included in The Institute Aims
A4
CT1: 1, 5, 6, 7, 8, 11
A5
CT1: 11
B1
(CT2: v.3)
B2
CT1: 10, 12
B3
(CT5: introduction)
C1
(CT2: x.1)
C2
Not included in The Institute Aims
The Learning Outcomes in this course also help you to achieve some of the overall
Program Learning Goals and Outcomes for all undergraduate students in the Business
School. Program Learning Goals are what we want you to BE or HAVE by the time you
successfully complete your degree (e.g. be an effective team player). You
demonstrate this by achieving specific Program Learning Outcomes - what you are
able to DO by the end of your degree (e.g. participate collaboratively and responsibly
in teams). For more information on the Undergraduate Program Learning Goals and
Outcomes, see Part B of the course outline.

Business Undergraduate Program Learning Goals and Outcomes

1. Knowledge: Our graduates will have in-depth disciplinary knowledge applicable in local and
global contexts.
You should be able to select and apply disciplinary knowledge to business situations in a local and global
environment.

2. Critical thinking and problem solving: Our graduates will be critical thinkers and effective

business.unsw.edu.au

CRICOS Code 00098G

problem solvers.
You should be able to identify and research issues in business situations, analyse the issues, and propose
appropriate and well-justified solutions.

3. Communication: Our graduates will be effective professional communicators.
You should be able to:
a. Prepare written documents that are clear and concise, using appropriate style and presentation
for the intended audience, purpose and context, and
b. Prepare and deliver oral presentations that are clear, focused, well-structured, and delivered in a
professional manner.

4. Teamwork: Our graduates will be effective team participants.
You should be able to participate collaboratively and responsibly in teams, and reflect on your own
teamwork, and on the teams processes and ability to achieve outcomes.

5. Ethical, social and environmental responsibility: Our graduates will have a sound awareness of
the ethical, social, cultural and environmental implications of business practice.
You should be able to:
a. Identify and assess ethical, environmental and/or sustainability considerations in business
decision-making and practice, and
b. Identify social and cultural implications of business situations.

The following table shows how your Course Learning Outcomes relate to the overall
Program Learning Goals and Outcomes, and indicates where these are assessed (they
may also be developed in tutorials and other activities):

Program Learning Goals and
Course Learning
Course Assessment Item
Outcomes
Outcomes
On successful
This course helps you to achieve
This learning outcome will be
completion of the
the following learning goals for all
assessed in the following
course, you should be
Business undergraduate students:
items:
able to achieve:
Tutorial Problems
Mid-session exam
Learning Outcomes
Assignment
1 Knowledge
A1 C2
Final Exam

Critical thinking and problem Learning Outcomes

solving
A1 C2

3a Written communication
3b Oral communication

Learning Outcomes
C1 C2
Learning Outcomes
A2 & C2
Learning Outcome C2

Teamwork

5a.

Not specifically
Ethical, social and
addressed in this
environmental responsibility
course

Not specifically
5b. Social and cultural awareness addressed in this
course

business.unsw.edu.au

CRICOS Code 00098G

Tutorial Problems
Assignment
Mid-session exam
Final Exam

Assignment

Tutorial Presentations
Group assignment
Not specifically
assessed in this
course
Not specifically
assessed in this

course

3 LEARNING AND TEACHING ACTIVITIES

3.1 Approach to Learning and Teaching in the Course

The approach adopted in this course is one of assisted self-study. The approach
adopted in this course is called flipped classroom. While reading this subsection,
please refer to the schedule given in Section 7.

The main rationale for this new structure is to bring the face-to-face time later in
the learning process, when students are more comfortable with the materials,
and more likely to interact and ask questions. The first conceptual encounter
with the materials happens at home when students watch the video lectures.
They then move on to practicing their knowledge with tutorial exercises. At this
stage, tutorial sessions provide some face-to-face, and personalised help.
Consultation is also available. Towards the end of the learning of a given
module, everyone gathers in the lecture room for a lectorial. The word
combines lecturesbecause they are run by the lecturer, and with the whole
group, and tutorialbecause their goal is not to lecture students, but to
discuss a module at a higher conceptual level, and to cement students learning
with other activities (such as guest lectures, discussions, advanced exercises).

The approach adopted in this course is one of assisted self-studywhile reading this
subsection, please refer to the schedule given in Section 11.

Course materials are organised in 6 modules. They consist of:

Prescribed books (and recommended books for additional support)

Topic video lectures available on the course website
Exercises with solutions
All past quizzes and exams for advanced exercises (with solutions)
Videos of the solutions of selected past quizzes and exams questions

Additionally, students who are not familiar with the software package R should
complete the module R you ready? (with videos, exercises and documents) which is
available on Blackboard on a website available to all ACTL students.

Given the substantial amount of course on-line support, lectures will focus on providing
the intuition and the big picture rather than repeating the details that are available on
the videos. Students should have read the prescribed books, watched the videos and
attempted the tutorial exercises prior to the lectures. An ideal lecture would be one
consisting essentially of answers to the students questions. Students are encouraged
to prepare questions and communicate them to the lecturer in advance on the course
websites forums (although this is not required).
Tutorials are for students to ask questions on aspects of the course that need further
clarification and to interact with other students in the course. Students need to attempt
the tutorial exercises prior to the tutorial classes and identify problems that require
closer review during tutorials. They are an opportunity to learn from other students and
to develop team skills by working on problems with other students.
business.unsw.edu.au

CRICOS Code 00098G

3.2 Learning Activities and Teaching Strategies

It is expected the students will take a pro-active approach to learning. The course is
organised in the learning activities given in the following table.
Activity

Self-study
(readings,
videos,
exercises)

Lectures
Tutorials
Assignment

X
X
X

X
X
X

X

X

X
X
X

X
X
X

X
X
X

X
X

X

X

Optional
readings

Optional
exercises

The aims A and B are developed during all activities. The learning outcome C3 is
developed through the R you ready module, tutorial exercises and the assignment.
The broader aim C is developed in the assignment.

A detailed mapping of the tutorial exercises to the modules contents is provided on the
course website. Exercises are organised in an increasing level of difficulty and it is
recommended to complete all the exercises of a subsection before attempting the
exercises of the following subsection.
It is expected that you will spend at least ten hours per week studying this course. In
periods where you need to complete assignments or prepare for examinations, the
workload may be greater. Over-commitment (to extra-curricular activities) has been a
cause of failure for many students. You should take the required workload into account
when planning how to balance study with employment and other activities. In the past,
students have found the amount of contents particularly challenging. Dont allow
yourself to fall behind the schedule!

4 ASSESSMENT
4.1 Formal Requirements
In order to pass this course, you must:
achieve a composite mark of at least 50; and
make a satisfactory attempt at all assessment tasks (see below).

In order to pass the course students must complete and submit all components of
assessment at or before the due times. Late assessment submissions will not be
marked. It is important that students be punctual and reliable when submitting
assessment. This is an important workplace requirement and students need to ensure
they meet deadlines.

business.unsw.edu.au

CRICOS Code 00098G

Your regular and punctual attendance at lectures and tutorials is expected in this
course. University regulations indicate that if students attend less than eighty per cent
of scheduled classes they may be refused final assessment.

In order to pass the course students must perform satisfactorily in all course
assessment components. Students who have an overall performance at the Credit
level (65% and above) are eligible for exemption of the Institute of Actuaries CT1
examination.

4.2 Assessment Details

Assessment Task

Weighting

Length

Due Date

Mid-term exam

15%

60 mins

Monday 4th April 2016,

6pm 8pm

Assignment

25%

N/A

Monday 16 May 2016,

11 am sharp

Final Exam

60%

2 hours

TBA

Total

100%

Mid-term exam
There will be one written answer mid-term exam in week 6 of 60 minutes duration (+ 5
minutes reading time). The mid-term exam will take place during a lecture during week
6. The mid-semester exam will take place on Monday 4th April 2016 from 6pm
8pm. Its venue will be advertised later. The mid-term exam will be closed book.
Students will only be allowed to bring the text "Formulae and Tables for Actuarial
Examinations".

Normal examination rules apply to the conduct of mid-term exams. Calculators will
be allowed in the mid-term and final examination but a clear indication of all of the
steps involved in your calculations must be shown. The University will not supply
calculators to students for use in examinations where the provision of calculators has
not been requested by the course examiner. It is the students responsibility to be
familiar with the rules governing the conduct of examinations.

The course exams require written responses, with students earning marks for correct
mathematical working as well as part marks for incorrect responses with correct
method and reasoning. They test not only their knowledge of the material, but also the
depth of their understanding of it.

Assignment
The practical application of the course concepts based on actual financial problems is
an important graduate attribute that employers require and this course aims to provide
at least some introductory exposure to this. Writing skills for technical material are also
important.

There will be one major Assignment for this course involving the practical application of
course concepts to a financial problem and an essay whose theme will be based on
professional ethics. These will provide students with an opportunity to also develop
writing skills of different types.

business.unsw.edu.au

CRICOS Code 00098G

The assignment offers students the opportunity to engage in independent research,

engage in critical analysis, self-reflection and problem solving, as well as to
demonstrate their understanding of the concepts and perspectives that are central to
actuarial studies.

Full information about the major assignment will be released early in the session.

Final Examination
The final examination will assess students understanding of the concepts covered in
the course and their ability to apply them to financial market problems. A deeper grasp
of materials is expected from students at the final exam level than at the tutorial level.

The final examination will be a two hour written paper. The final examination will be
closed book. Students will only be allowed to bring the text "Formulae and Tables for
Actuarial Examinations" into the exam. This must not be annotated.

4.3 Assignment Submission Procedure

Assignments must be submitted via the Turnitin submission box that is available on the
course Moodle website. Turnitin reports on any similarities between their own cohorts
assignments, and also with regard to other sources (such as the internet or all
assignments submitted all around the world via Turnitin).
More information is available at:
http://elearning.unsw.edu.au/turnitin/content/TurnItInStudentSupport.cfm?ss=0 Please
read this page, as we will assume that its content is familiar to you. You will be able to
make multiple submissions. You need to check your document once it is submitted
(check it on-screen). We will not mark assignments that cannot be read on screen.
Students are reminded of the risk that technical issues may delay or even prevent their
submission (such as internet connection and/or computer breakdowns). Students
should then consider either submitting their assignment from the university computer
rooms or allow enough time (at least 24 hours is recommended) between their submission and
the due time. The Turnitin module will not let you submit a late report. No paper copy will
be either accepted or graded.
In case of a technical problem, the full document must be submitted to the course
coordinator before the due time by e-mail, with explanations about why the student was
not able to submit on time. In principle, this assignment will not be marked. It is only in
exceptional circumstances where the assignment was submitted before the due time
by e-mail that it may be markedand this only if a valid reason is established.
Avoid a 0 for your assignment (in the mildest case) because of plagiarism
Students are reminded that the work they submit must be their own (see section 5
above). While we have no problem with students working together on the assignment
problems, the material students submit for assessment must be their own. This means
that:
The mathematical solutions you present are written up by you, without
reference to any other students work.

business.unsw.edu.au

CRICOS Code 00098G

10

 Students should make sure they understand what plagiarism is (see Section
5 and do the quiz) cases of plagiarism have a very high probability of being
discovered. For issues of collective work, having different persons marking the
assignment does not decrease this probability.
Students should consult the Turnitin section of the website accessible to all
ACTL students well in advance, as this gives a (non exhaustive) list of things
that could go wrong and explains how the policies above are implemented.

4.4 Late Submission

The School of Risk and Actuarial Studies has a policy of grading late assignments with
a zero mark. Punctual submission of work is required in order to satisfy the
requirements of the course. The assignment may be marked at the discretion of the
course co-ordinator if there is a valid reason for late submission and used in cases
where your final overall results are marginal.
Quality Assurance
The Business School is actively monitoring student learning and quality of the student
experience in all its programs. A random selection of completed assessment tasks may
be used for quality assurance, such as to determine the extent to which program
learning goals are being achieved. The information is required for accreditation
purposes, and aggregated findings will be used to inform changes aimed at improving
the quality of Business School programs. All material used for such processes will be
treated as confidential.

5 COURSE RESOURCES

Textbooks
The required textbooks for the course are:
Broverman, S.A. (2010), Mathematics of Investment and Credit, 6th Edition,
ACTEX Publications. [A solutions manual is available for purchase. The 6th
Edition is largely similar to the 5th Edition, so it may be possible to learn
with the 5th Edition as well; the references at the end of this course outline
are valid for both editions. However, Editions previous to the 4th are not
recommended.]
Sherris, M. (1996), Money and Capital Markets, Pricing, Yields and Analysis,
2nd Edition, Allen & Unwin.
Zuur, A. F., Ieno, E. N., Maesters, E. (2009), A Beginners Guide to R, Springer
[This book is a very good reference for the statistical software R. An online
version is available through the UNSW Library, and it may thus not be
necessary to purchase a paper copy]

Additional (optional) readings are:
The Actuarial Education Company, Course CT1 Study Guide. [A subset of the
course, which has the advantage of showing exactly what the Institute of
Actuaries expects from students at CT1 exam, should you need to take the
exam later]
business.unsw.edu.au

CRICOS Code 00098G

11

 Daniel, J. W. and Vaaler, L. J. F. (2007), Mathematical Interest Theory,

Pearson, Prentice Hall. [A book similar to Brovermans, useful as a second
reference if a second, different explanation is necessary. It also has the
advantage of discussing the use of modern calculators and explaining how to
use them]
Boyle, P.P., Cox, S.H., Dufresne, D., Gerber, H.U., Mueller, H.H., Pedersen,
H.W., Pliska, S.R., Sherris, M., Shiu, E.S., Tan, K.S. (2001) Financial
Economics: With Applications to Investments, Insurance and Pensions, Harry
H. Panjer Ed., The Actuarial Foundation, Schaumburg, Illinois. [An advanced
textbook, too advanced for the level of the course. However, chapter 3, a
required reading, is available for download from the library in the MyCourse
page of the course. Useful as an optional reading for the learning outcomes B1
and B2 (see website)]
Gerber, H.U. (1997), Life Insurance Mathematics, Springer-Verlag, 3rd Edition.
[The absolute classic in Life Insurance Mathematics. Useful as an extremely
concise optional reading for the learning outcomes A1, A2, A3, B1 and B3. It
was a required textbook for ACTL3002 in 2010; a new edition is not likely to
appear in a near future]
Bowers, N.L. Gerber, H.U., Hickman, J.C., Jones, D.A. and Nesbitt, C.J.
(1997), Actuarial Mathematics, Society of Actuaries, 2nd Edition [Another
classic, useful as a reference for the learning outcomes A3 and B3. It was a
required textbook for ACTL3002 in 2010; a new edition is not likely to appear in
a near future]

All these books are available from the library, some of them with copies in the reserve.
Should the quantity available be insufficient, please inform the course coordinator, who
will forward this information to the library.

Formulae & Tables
Students will only be allowed to bring into the examinations for the Actuarial courses in
the BCom the text "Formulae and Tables for Actuarial Examinations". This text must
not be annotated. All students in the actuarial courses should purchase a copy of this
text if they wish to use this in the final examinations for this course. The text is
available from the UNSW Bookshop, the UK Institute of Actuaries or from ActEd
Australia. Visit the ActEd website at http://www.acted.com.au.

Course website
The course Blackboard website is available from the UNSW TELT platform:
http://elearning.unsw.edu.au/
To access the Blackboard online support site for students, follow the links from that
website to UNSW Blackboard Support/Support for Students. Additional technical
support can be obtained from [email protected] (02 9385 1333).

All course contents will be available from the course website (except for the modules
R you ready? and Back to Basics which are available on Blackboard ACTL students
common website). It is essential that you visit the site regularly to see any notices
posted there by the course coordinator, as it will be assumed that they are
known to you within a reasonable time.

business.unsw.edu.au

CRICOS Code 00098G

12

6 COURSE EVALUATION AND DEVELOPMENT

Each course in actuarial studies at UNSW is reviewed each session by the course co-
ordinator using student evaluative feedback from UNSW's Course and Teaching
Evaluation and Improvement (CATEI) Process. Student feedback is taken seriously,
and continual improvements are made to the course based on such feedback.
Significant changes to the course are communicated to students taking the course.
Your input into improving future offerings of the course is highly valued.
In the last few years, the structure of the course and its learning and teaching strategy
was changed radically. The main rationale for this change was the exceptional success
of the lecture video recordings that were provided to the students in 2009, as well as
the salient need for additional coverage of exercises during contact hours.
In 2011, 2012, 2013 and 2014, course evaluations resulted in the introduction of the
following additional developments:
Video recordings of a selection of past quizzes and exams problems for each
module;
The organisation of formative self-assessments throughout the session;
Corrections of typos in the exercises and improvement of the solutions;
A higher weight for the assignment in the final grade.

We repeat that we take students feedback extremely seriously and we count on

your cooperation when seeking feedback that will help us identify the strengths
and weaknesses of the course contents and learning and teaching strategies.
We guarantee that the process is entirely anonymous and that your feedback
will not have any impact on your final results.

7 COURSE SCHEDULE
Lectorial / Tutorial Schedule

Lectures start in Week 1 and finish in Week 12. Lecture time: Thursday 9:00 am
11:00 am Physics Theatre K-K14-19. Tutorials start in Week 1 and finish in Week 12.

LECTORIAL & TUTORIAL SCHEDULE

Week

Topic

References

Tutorial 1 & Introductory lecture

Self-study Module 1

Week 2
7 March

Tutorial 2 & Lectorial

Self-study Module 1

Week 3
14 March

Tutorial 3 & Consultation hour

Self-study Module 1

Week 1
29 February

Week 4
21 March

Tutorial 4 & Lectorial

(Friday 25 March is Good Friday public holiday)

Self-study Module 2

Mid-semester break: Friday 25 March Saturday 2 April inclusive

business.unsw.edu.au

CRICOS Code 00098G

13

Week 5
4 April

Mid-semester Exam Monday 4

April 6:30pm

Tutorial 5 & Consultation hour

Self-study Module 3

Week 6
11 April

Tutorial 6 & Lectorial

Self-study Module 3

Week 7
18 April

Tutorial 7 & Consultation hour

Self-study Module 4

Week 8
25 April

Tutorial 8 & Lectorial

(Monday 25 April is Anzac Day public holiday)

Self-study Module 4

Week 9
2 May

Tutorial 9 & Consultation hour

Self-study Module 5

Week 10
9 May

Tutorial 10 & Lectorial

Self-study Module 5

Week 11
16 May

Assignment Due Monday 16

May 11am Sharp

Self-study Module 6

Tutorial 11 & Consultation hour

Week 12
23 May
Week 13
30 May

Tutorial 12 & Lectorial

Self Study Revision

Self-study Module 6
Self-assessment

Students who are not familiar with R should cover the module R you ready? within the
first two weeks of the course. See Section 3.1.
This timetable may be altered. Students will be advised of any changes in lectures and
via the course web site.
Detailed information about the modules contents and their associated readings will be
provided on the course website. Note that all topics have been mapped to the Institute
of Actuaries CT1 Exam 2010 Syllabus. Only the readings Broverman (6th Edition) and
Sherris are prescribed. The other three references are optional and provide further
support if needed (see Section 6).

business.unsw.edu.au

CRICOS Code 00098G

14