Develop and articulate solutions to complex business
problems.

Teaching/Learning Methods and Strategies

A variety of teaching and learning methods are used throughout the modules listed below including lectures, computer lab sessions, national and international case studies, and directed reading.

The applied research project will consist of modules that have an applied focus to ensure the theory relates to
real world business problems. Teaching methods focused on problem solving and the analysis of real world
data to solve problems.

Methods of Assessment

Student’s problem solving skills will be tested throughout the course, but specifically in the applied research project where they will be required to develop a solution to a business problem. A variety of assessment methods are used including individual and group coursework, and presentations. Both formative and summative
methods are used.

Conduct independent learning and enquiry.

Teaching/Learning Methods and Strategies

Due to the fast pace of change in the actuarial industry and the wider fields that actuaries are moving into, students’ ability to conduct independent learning and enquiry is crucial to their future success.

Students will be expected to solve complex problems using both the material taught, and through the material they have learned independently.

Specifically, students will be guided in how to find and analyse other sources of information (e.g. books, journal articles). Students will also learn how to solve technical problems independently through the use of online resources.

Students will also be provided with suggestions for further reading and learning, which they can draw on to enhance their skills and employability.

Methods of Assessment

Most of the assessments will require students to conduct independent inquiry.

Critical evaluation and interpretation and creativity

Teaching/Learning Methods and Strategies

Students will learn to critically evaluate theories, research findings, modelling tools, solutions, and actuarial techniques.

Methods of Assessment

All assessments will require students to use critical evaluation, interpretation, and creativity.

Self-assessment and reflection

Teaching/Learning Methods and Strategies

Students will learn to evaluate their own strengths and weaknesses, which will feed into their motivation for self learning. The course will overview many tools and techniques, and not all in detail – students can take this knowledge to engage in self-directed learning.

Methods of Assessment

Students will be required to reflect on their own skills and abilities throughout the course, and will be encouraged to work on any gaps in their own actuarial and business skills through both the core course material and self directed learning. Students will also be required to reflect on their learning during other modules.

Evaluate and apply theory and practice in statistics and actuarial modelling.

Teaching/Learning Methods and Strategies

Modules are offered which focus on these key elements of the course.

Methods of Assessment

Students will be required to demonstrate their understanding through a range of assessment methods including written assignments, presentations, and group projects.

Evaluate and apply the conceptual underpinnings of economics and finance

Teaching/Learning Methods and Strategies

This will be the focus of the economics and computational finance modules.

Methods of Assessment

Students will be required to solve complex economic and financial problems throughout the assessments and final exams.

Evaluate and apply the basic principles of financial reporting and financial statement analysis

Teaching/Learning Methods and Strategies

This will be the focus of the financial reporting module.

Methods of Assessment

Students will be required to analyse financial statements and cashflows via continuous assessment and final exam.

Evaluate and apply the theory and application of mathematics with emphasis on probability, linear programming and the fundamental principles of stochastic processes and risk analysis.

Teaching/Learning Methods and Strategies

Students will be exposed to elements of this principles throughout the core modules and modules that feed into the Applied Research Project.

Methods of Assessment

Students will be required to use analytical tools via continuous assessment and final exams.

Evaluate, apply, and interpret the output from statistical techniques, and their application in actuarial work

Teaching/Learning Methods and Strategies

Core statistical concepts will be covered in dedicated statistics modules.

Students will bring this knowledge together in the Applied Research Project, where they will apply statistics and modelling skills to solve a real world problem.

Methods of Assessment

Students will be required to demonstrate their statistical ability in the statistical modules. These skills will be assessed through assignments, exams as well as the final project.

Develop the ability to use statistical, mathematical and demographic techniques to analyse actuarial problems.

Teaching/Learning Methods and Strategies

This will be embedded into the statistics and actuarial mathematics modules. Students will be challenged to apply current techniques to solve actuarial problems.

Methods of Assessment

This will be assessed throughout the modules through group assignments and final exams.

Develop the ability to use computer-based/mathematical/statistical/econometric packages to analyse and evaluate relevant data.

Teaching/Learning Methods and Strategies

This is embedded particularly in the modules on statistics, and the modules that feed into the Applied Research Project.

It will consist of lecture based and computer based teaching.

Methods of Assessment

This will be assessed throughout the modules through group assignments and final practical exams.

Develop the ability to appreciate, construct and analyse mathematical, statistical, financial and economic models of practical situations.

Teaching/Learning Methods and Strategies

This core skill will be embedded throughout the majority of core modules, as well as the Applied Research Project. In depth understanding, and practical skills, will be developed.

Methods of Assessment

The majority of the core modules will include assignments focusing on building models.

Develop the ability to connect business problems with actuarial practice.

Teaching/Learning Methods and Strategies

Students will be encouraged to apply theory to real world scenarios. The majority of modules will be taught by actuaries with practical real world experience and they will be encouraged to bridge the gap between theory and practice.

Methods of Assessment

Assignments and practical model building exercises.

Critically evaluate the wider ethical and societal implications of actuarial science and the work of actuaries from both a national and international perspective.

Teaching/Learning Methods and Strategies

Students will consider the wider implications of actuarial work during case study and group discussions. Ethical discussions on actuarial work will form elements of core modules.

Methods of Assessment

Students will be required to consider the wider implications of actuarial work during their assignments.

Solve complex business problems, and in particular take an actuarial approach to business problems where that is the best course of action.

Teaching/Learning Methods and Strategies

All core modules will focus on problem solving using analytical techniques.

Methods of Assessment

Most assessments will require students to solve business problems using the theory and skills developed during the module.

Work both independently and in groups.

Teaching/Learning Methods and Strategies

Students will have opportunities to work both independently and in groups. This includes developing solutions individually and in groups.

Methods of Assessment

Modules include both individual and group work and assessment.

Organisation and time management.

Teaching/Learning Methods and Strategies

Students will be required to manage their time effectively through group and individual assignments, and more generally through independent study, attending lectures etc.

Methods of Assessment

The planning and delivery of technical solutions will form components of the group and individual assignments.

Synthesize written material e.g. online sources, journals and books.

Teaching/Learning Methods and Strategies

Students will receive instruction of acquisition of information, for example, through the data management module.

Methods of Assessment

Most assessments will require students to synthesise written material, particularly the less technical modules and those focusing on specific business domains.

Communicate complex technical concepts, and outputs from data analyses, to non specialist audiences in verbal and written form.

Teaching/Learning Methods and Strategies

Class sessions will allow students to communicate complex concepts, for example through presentations and group discussions.

Methods of Assessment

Assessment of written communication, and presentation of solutions.

Evaluate and develop solutions using a range of software packages and programming languages to a proficient level.

Teaching/Learning Methods and Strategies

Technical and analytical classes will involve the use of a range of software packages and programming languages to carry out tasks such as statistical analysis, machine learning, and data visualisation.

Methods of Assessment

Individual and group assessments across will require programming and software skills.

Develop and internalise personal frameworks and techniques for learning new software, programming, and technical tools and skills to keep up with constantly changing industry trends.

Teaching/Learning Methods and Strategies

Students will engage in independent learning as well as directed learning in all modules. This will require students to build on the material covered in class by conducting independent research and investigation into solutions.

Methods of Assessment

Coursework will be assessed for originality, and the extent to which students have gone beyond the material covered in class.