Introduction to Actuarial Science At University Of Ghana
Actuarial science is a field of study that deals with the evaluation of future events and designing of
creative ways to reduce the likelihood of undesirable events and their impact on our society. It
utilizes mathematical, statistical and financial methods to model and minimise the occurrence of
these events and their associated financial losses. Actuaries are professionals responsible for risk
management and calculation of premiums for insurance companies. This course focuses on basic
actuarial science concepts. The objective of this course is to provide students with the basic
concepts in probability, statistics and financial mathematics for the evaluation of future events and
undesirable events on our society. It is also designed to meet the basic needs of students intending
to take the professional examination on Construction and Evaluation of Actuarial Models given by
the Causality Actuarial Society and the Society of Actuaries. Topics include: Probability, Loss
Distribution, Financial Mathematics, Linear and Matrix Algebra, Statistical Concepts for
Actuaries, Survival and Severity Models, Aggregate Compound Models, Life Contingency
Models and Ruin Theory.