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Course Detail

Course Name Demography and Actuarial Statistics
Course Code 23DLS637
Semester 3
Credits 4


Course outcomes

CO1: Understand the basics of content errors and fertility levels.
CO2: Gain knowledge about life table and life annuities.
CO3: Know the importance of life insurance.
CO4: To gain knowledge about contingent functions.

Demographic Data

Demographic data – Sources, Coverage and Content errors in demographic data. Measures of fertility period and cohort measures. Use of birth order Statistics and child – Woman ratio. Brass technique to estimate current-fertility levels Estimation of TFR age pattern of fertility. Measures of mortality – standard death rates, neo-natal, perinatal death rates, maternal and infant mortality rates standardization of mortality rates.
Life table: Basic definitions, probabilities, construction of life tables, life expectancy, Life annuities: calculating annuity premium, interest and survivorship discount unction, guaranteed payments, deferred annuities.
Life insurance: Introduction, calculation of life insurance premiums, types of life insurance, combined benefits, insurances viewed as annuities, Insurance and annuity reserves: General pattern reserves, recursion, detailed analysis of an insurance.
Contingent Functions: Contingent probabilities, assurances. Decrement tables. Pension funds: Capital sums on retirement and death, widow’s pensions, benefits dependent on marriage.

Text Books

1. Ramkumar. R : Technical Demography, Wiley eastern Ltd, New Delhi,1986.
2. Rogers.A : Introduction to Mathematical Demography, Johnwiley,New york,1975
3. Biswas.S. : Stochastic processes in Demography and applications,Wiley eastern limited,1988
4. Atkinson, M.E. and Dickson, D.C.M.: An Introduction to Actuarial Studies, Elgar Publishing,2000
5. Philip, M. et. al : Modern Actuarial Theory and Practice, Chapman and Hall,1999.

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