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HKU Bsc(AC) maths related courses

HKU Bsc(AC) maths related courses - Textbooks References...

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STAT1801 Probability and statistics: foundations of actuarial science Textbooks I. Miller & M. Miller: John E. Freund's Mathematical Statistics with applications (Pearson Education International, 2004, 7th edition) References M. A. Bean: Probability: The Science of Uncertainty with Applications to Investments, Insurance, and Engineering (Brooks/Cole, Thomas Learning) S. Ghahramani: Fundamentals of Probability, with Stochastic Processes (2005, 3rd edition) M. Hassett & D. Stewart: Probability for Risk Management (2006, 2nd edition) S. M. Ross: A First Course in Probability (2005, 7th edition) Course Contents 1. General Probability - Basic elements of probability in set notation - Mutually exclusive events - Addition and multiplication rules - Independence of events - Combinatorial probability - Conditional probability and expectations - Bayes Theorem / Law of total probability - Random variables 2. Univariate probability distributions (including binomial, negative binomial, geometric, hypergeometric, Poisson, uniform, exponential, chi-square, beta, Pareto, lognormal, gamma, Weibull and normal) and bivariate normal distribution - Probability functions and probability density functions - Cumulative distribution functions - Mode, median, percentiles and moments - Variance and measures of dispersion - Central Limit Theorem 3. Sampling distributions and introduction of estimation STAT1802 Financial mathematics Textbooks Broverman, S. A.: Mathematics of Investment and Credit (ACTEX Publications - Mad River Books: Connecticut, 2004, 3rd edition) McDonald, R. L.: Derivatives Markets (Addison-Wesley: New York, 2005, 2nd edition) References Kellison, S. G.: The Theory of Interest (Irwin: Illinois, 1991, 2nd edition) Key topics include: 1. measurement of interest, annuities certain; 2. discounted cash flow analysis; 3. yield rates; 4. amortization schedules and sinking funds; 5. bonds and related securities; 6. practical applications such as real estate mortgage, short sales and modern financial instruments; 7. stochastic approaches to interest; 8. financial derivatives including forwards, futures, options and swaps; 9. insurance, collars and other strategies; 10. introduction to risk management.
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MATH1813 - Mathematical Methods for Actuarial Science Textbook or Reference K Binmore and J Davies: Calculus - Concepts and Methods (Cambridge University Press, 2001) Content 2. 1. Matrices, systems of linear equations, determinants 2. Eigenvalues and eigenvectors, diagonalization of matrices 3.
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