UNIVERSITY OF MADRAS
B.Sc. DEGREE COURSE IN STATISTICS
SEMESTER SYSTEM WITH CREDITS
(Effective from the Academic Year 2003-2004)

SYLLABUS

Semester V - Application Oriented Subject I - Demography and Actuarial Statistics

UNIT - 1:

Sources of demographic data - Civil registration - Population census - Population registers - Errors in demographic data - methods of improvement. Fertility and Mortality measurements - General and specific rates - Standardised rates-age pyramid of sex composition gross and net reproduction rates.

UNIT - 2:

Life table - Structure - Construction - Relationship between the function of a life table - abridged life table - Population estimation - Growth rates - Gross and net reproduction rates - Component method a population projection - Forces of mortality - Gompertz aud Makcharn law- logistic curve fitting and its use.

UNIT - 3:

Elements of Compound interest (nominal and effective rates of interest; annuities certain; present values; accumulated amounts; deferred annuities). The functions included in compound interest tables and their uses. Redemption of Loans, Sinking Funds. The average yield on the Life Fund of an assurance office.

UNIT - 4:

Premiums; general principles, natural premiums, office premiums, loading for expenses, with profit and without profit premiums, adequacy of premiums, relative consistency.

UNIT - 5:

Life Office Valuations; General Principles, Policy values, retrospective and prospective methods of valuation of liabilities (net premium, gross premium & bonus reserve); sources of surplus, principle methods of surplus.

NOTE :

Numeric problems can be asked in the theory question paper

BOOKS FOR STUDY AND REFERENCE

Federation of Insurance Institutes Study Courses: Mathematical Basis of Life Assurance, F. I. 21 (Published by the Federation of Insurance Institutes, Bombay).
Supplement to Federation of Insurance Institutes Study Courses: F.I. 21 (Published by the Federation of Insurance Institutes, Bombay.
Donald, D.W.A. (1970) - Compound interest and annuities. Heinemann, London.
Benjamin, B. & Pollard, J.H. (1980): Analysis of Mortality & other Acturial Statistics, 2/e, Heinemann, London.
Elandt-Johnson, R.C. & Johnson N.L.(1980):Survival models & Data Analysis, John Wiley.
Neill, A. (1977): Life Contingencies, Heinemann, London.
Barcklay, G.W. (1959) : Techniques of Population Analysis.
Benjamin, B. (1968): Health and Vital Statistics, Allen & Unwin.
Srivastava, O.S. (1983): A text book of Demography, Vikas Publishing.
Bogue, Donald, J.: Principles of Demography, (1976) John Wiley, New York.
Studies on Consumer behaviour, Monographed Series, Indian Statistical Institute.