AIN2001 - Mathematics for Actuarial Studies and Insurance

Year of Study:2 - 4
Credit Units: 3
Duration: 45hours
Prerequisites: AMS1001 Introduction to Linear Algebra and Calculus; or with the Module Coordinator’s permission and upon endorsement of the relevant Head.
Module Description
This module introduces concepts and methods in linear algebra and calculus that are often used in actuarial studies and insurance. Topics selected include vectors and geometry of space, partial differentiation, multiple integration and simple differential equations. From this module, students are equipped with skills of linear algebra and calculus that are useful for solving a range of practical problems, such as financial mathematics, optimization, and approximation.
Learning Outcomes
Upon completion of this module, students should be able to:

  1. solve systems of linear equations and understand the concepts in vectors and geometry of space;

  2. apply the concept/theory of multivariable calculus to manipulate algebraic calculations;

  3. compute partial differentiation and evaluate multiple integrals;

  4. solve simple differential equations; and

  5. apply techniques of linear algebra and calculus to solve a range of problems.