Markov Processes
Module code: MA2404
This module gives an introduction to the mathematical models that Actuaries use in their day-to-day work. Initially, we will focus on describing general principles of risk modelling in financial and actuarial sectors. Then, after a short review of probability theory and stochastic processes, the module focuses on the theory of Markov processes and their application to financial and actuarial modelling. The module ends with a brief introduction to machine learning techniques.
Learning
- 33 hours of lectures
- 2 hours of seminars
- 11 hours of tutorials
- 104 hours of guided independent study
Assessment
- Exam, 2 hours (70%)
- Coursework (30%)