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Tantárgy adatlap

Introduction to Insurance Economics

Tantárgy adatlap letöltése: Letöltés

A tantárgy kódja: KOZNXOPKU02
A tantárgy megnevezése (magyarul): Introduction to Insurance Economics
A tantárgy neve (angolul): Introduction to Insurance Economics
A tanóra száma (Előadás + szeminárium + gyakorlat + egyéb): 2 classes per week: 90 minutes/week (lecture+seminar)
Kreditérték: 3
A tantárgy meghirdetésének gyakorisága: Spring semester
Az oktatás nyelve: English
Előtanulmányi kötelezettségek: Microeconomics I. and Foundations of Mathematics I.
A tantárgy típusa: elective (for bachelor students)
Tantárgyfelelős tanszék: Operációkutatás és Aktuáriustudományok Tanszék
A tantárgyfelelős neve: Dr. Szüle Borbála

A tantárgy szakmai tartalma: Insurance plays an important role in the economy both from a macroeconomic point of view (since insurance companies can be considered as part of the financial intermediation sector) and from a microeconomic perspective (because of the provision of insurance products). This course gives an insight into some selected topics in insurance economics. The discussion of theoretical results is combined with an introduction into some practical insurance calculation methods.
Economics literature suggests that several theoretical topics are related to insurance. In practice, the presence of insurance can play a role in maintaining financial stability of individuals and some insurance products may also be applied to supplement retirement income. On the whole, understanding selected theoretical results and some insurance calculation details can also contribute to better individual financial decisions. In this course - beside introducing some theoretical aspects of insurance - a special emphasis is given to spreadsheet calculation exercises by Excel (related to some insurance and pension products).

Évközi tanulmányi követelmények: in case of "offered grade": project work analysis, test and 7 homeworks (biweekly)
otherwise: 7 homeworks (biweekly)

Vizsgakövetelmény: in case of "offered grade": project work analysis, test and 7 homeworks (biweekly)
otherwise: 7 homeworks (biweekly) and written exam at the end of the semester

Az értékelés módszere: in case of "offered grade":
50%: 7 homeworks (biweekly)
50%: project work analysis (that contains calculation questions too)
the test before the exam period should have an adequate result (at least 50% result is required to achieve an "offered grade")

otherwise (if the "offered grade" is not achieved or the "offered grade" is not accepted):
50%: 7 homeworks (biweekly)
50%: written exam (solution of calculation questions with computer by Excel)

Tananyag leírása: Week 1-2: Insurance related concepts in decision theory (Basic concepts in decision theory. Utility of wealth.)
Week 3-4: The demand for insurance (Optimality of insurance contracts under complete information. Insurance and individual life cycle financial planning.)
Week 5-6: Insurance risk diversification (Diversification of risk in portfolio theory. Basic principles of risk diversification in insurance companies.)
Week 7-8: Annuity markets (Rational consumer decisions and life annuities. Interpretation of life tables and calculation of net annuity values.)
Week 9-10: Multi agents utility in insurance (Theory of multi agents utility optimization. Net value calculation of annuities for more than one person.)
Week 11-12: Asymmetric information in insurance (Adverse selection and moral hazard in insurance markets. Reserve calculation in life insurance. Some reserve related methods to mitigate adverse selection in life insurance.)
Week 13-14: Optimality of pension systems (Design of pension systems. Optimal pension systems in a portfolio model.)

Órarendi beosztás: according to data in Neptun

Kompetencia leírása: By this course the students get acquainted with some theoretical topics and practical calculation methods associated with insurance. The course makes the students be able to better understand theoretical economics literature related to insurance and be equipped with the skills of performing simple insurance and pension spreadsheet calculations by Excel. In other words, by skills of the course the students will be able to plan their financial plans better, and can make reliable and solid financial decisions in their personal and professional life alike.

Félévközi ellenőrzések: in case of "offered grade": project work analysis, test and 7 homeworks (biweekly)
otherwise: 7 homeworks (biweekly)

A hallgató egyéni munkával megoldandó feladatai: in case of "offered grade": project work analysis, test and 7 homeworks (biweekly)
otherwise: 7 homeworks (biweekly) and the written exam in the exam period

Szak neve: 

Irodalomjegyzék:
Kötelező irodalom:

  • D. C. M. Dickson, M. R. Hardy, H. R. Waters: Actuarial mathematics for life contingent risks, Cambridge University Press, 2009 (selected chapters)
  • H. R. Varian: Intermediate microeconomics, 8th edition, W.W. Norton & Company, Inc., 2010 (selected chapters)
  • Additional handouts

Ajánlott irodalom:

  • D. Blake: Pension finance, Wiley, 2006
Ajánlott irodalmak:
D. Blake: Pension finance, Wiley, 2006
Kötelező irodalmak:
D. C. M. Dickson, M. R. Hardy, H. R. Waters: Actuarial mathematics for life contingent risks, Cambridge University Press, 2009 (selected chapters)
H. R. Varian: Intermediate microeconomics, 8th edition, W.W. Norton & Company, Inc., 2010 (selected chapters)

 
A tantárgy oktatói:

Utolsó módosítás: 2018-02-04 14:47:46

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