AKT706 - ACTUARIAL MATHEMATICS of SOCIAL SECURITY
| Course Name | Code | Semester | Theory (hours/week) |
Application (hours/week) |
Credit | ECTS |
|---|---|---|---|---|---|---|
| ACTUARIAL MATHEMATICS of SOCIAL SECURITY | AKT706 | 2nd Semester | 3 | 0 | 3 | 10 |
| Prequisites | None | |||||
| Course language | Turkish | |||||
| Course type | Elective | |||||
| Mode of Delivery | Face-to-Face | |||||
| Learning and teaching strategies | Lecture Discussion Drill and Practice | |||||
| Instructor (s) | Department Instructors | |||||
| Course objective | The aim of this course is to provide postgraduate students an introductory knowledge of financing of social security, social protection and the economy, financing techniques, investing social protection reserves and financial governance. | |||||
| Learning outcomes |
| |||||
| Course Content | Basic concepts: social protection, social transfers and welfare states, the size of the welfare state: trends, patterns and determinants of social expenditure, social protection and the economy, public finance nexus and resource mobilization strategies, financing techniques, investing social protection reserves and financial governance. | |||||
| References | 1. Cichon, M., Scholz, W., Meerendonk, A., Hagemejer, K., Bertranou, F., Plamondon, P., 2004, Financing Social Protection, Quantitative Methods in Social Protection Series, International Labour Organization. 2. Iyar, S., 1999, Actuarial Mathematics of Social Security Pensions, Quantitative Methods in Social Protection Series, International Labour Organization. 3. Muksian, R., 2002, Mathematics of Interest Rates, Insurance, Social Security, and Pensions, Prentice Hall. 4. Lecture Notes | |||||
Course outline weekly
| Weeks | Topics |
|---|---|
| Week 1 | Basic concepts: Social protection and social transfers |
| Week 2 | Income effects of national social transfer systems |
| Week 3 | Estimating minimum levels of formal social protection |
| Week 4 | The size of the welfare state: Trends, patterns and determinants of social expenditure |
| Week 5 | Social protection and the economy |
| Week 6 | Economic instruments in the governance of social transfers |
| Week 7 | Midterm Exam |
| Week 8 | The public finance nexus and resource mobilization strategies |
| Week 9 | Effect of social protection financing on public deficits and debt |
| Week 10 | Financing techniques |
| Week 11 | Financing social security pensions |
| Week 12 | Investing social protection reserves |
| Week 13 | Investment strategies |
| Week 14 | Financial governance |
| Week 15 | Final Exam Preparations |
| Week 16 | Final Exam |
Assesment methods
| Course activities | Number | Percentage |
|---|---|---|
| Attendance | 0 | 0 |
| Laboratory | 0 | 0 |
| Application | 0 | 0 |
| Field activities | 0 | 0 |
| Specific practical training | 0 | 0 |
| Assignments | 10 | 20 |
| Presentation | 2 | 30 |
| Project | 0 | 0 |
| Seminar | 0 | 0 |
| Midterms | 0 | 0 |
| Final exam | 1 | 50 |
| Total | 100 | |
| Percentage of semester activities contributing grade succes | 12 | 50 |
| Percentage of final exam contributing grade succes | 1 | 50 |
| Total | 100 | |
WORKLOAD AND ECTS CALCULATION
| Activities | Number | Duration (hour) | Total Work Load |
|---|---|---|---|
| Course Duration (x14) | 14 | 3 | 42 |
| Laboratory | 0 | 0 | 0 |
| Application | 0 | 0 | 0 |
| Specific practical training | 0 | 0 | 0 |
| Field activities | 0 | 0 | 0 |
| Study Hours Out of Class (Preliminary work, reinforcement, ect) | 14 | 2 | 28 |
| Presentation / Seminar Preparation | 2 | 40 | 80 |
| Project | 0 | 0 | 0 |
| Homework assignment | 10 | 9 | 90 |
| Midterms (Study duration) | 0 | 0 | 0 |
| Final Exam (Study duration) | 1 | 60 | 60 |
| Total Workload | 41 | 114 | 300 |
Matrix Of The Course Learning Outcomes Versus Program Outcomes
| D.9. Key Learning Outcomes | Contrubition level* | ||||
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | |
| 1. Develop new strategies and techniques in modelling actuarial problems and produce solutions specific to a problem. | X | ||||
| 2. Conduct detailed research in a specific subject in actuarial science area. | X | ||||
| 3. Have the required level of competency in actuarial sciences to be able to make contribution to the actuarial literature. | X | ||||
| 4. Able to use the knowledge in actuarial sciences in multidisciplinary studies. | X | ||||
| 5. Arrange events and projects in actuarial sciences . Able to conduct the stages of designing, executing and reporting results of a project. | X | ||||
| 6. Have scientific scepticism. | X | ||||
| 7. Able to produce scientific publications in the area of actuarial science. | X | ||||
| 8. Able to think analytically. | X | ||||
| 9. Follow national and international innovations and improvements in the area. | X | ||||
| 10. Follow actuarial literature | X | ||||
| 11. Improve foreign language skills in order to do work and presentation in that language. | X | ||||
| 12. Use information technology in an advanced level. | X | ||||
| 13. Able to work individually and have the ability to decide independently. | X | ||||
| 14. Have the qualifications necessary for a team work and able to be the team leader. | X | ||||
| 15. Have the consciousness of professional and social responsibility. | X | ||||
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest