Undergraduate Courses

Overview

Welcome to the Undergraduate Statistics and Actuarial Science program! Our courses are designed to provide a strong foundation in statistical theory, data analysis, and risk management, preparing students for dynamic careers in fields like finance, insurance, and data science. Through a blend of rigorous coursework, hands-on experience, and real-world applications, our program equips students with the analytical skills and practical knowledge needed to tackle complex problems and make informed decisions in today's data-driven world. Whether you're interested in pursuing a career as an actuary, a statistician, or a data analyst, our program offers the tools and expertise to help you succeed.

 

Course Code Title
STAT 228 Introduction to Non-Parametric Statistics

Credit Hours - 3

Overview

In  this  course students  are  introduced to  the  basic concepts  of  non-parametric  statistics. Topics to be discussed  include: Single Sample problems; the problem of location, the Sign Test, Wilcoxon Sign Rank Test. Introduction to Chi-square tests for Homogeneity, Chi-square tests for Independence, The Median Test, Mann-Whitney-Wilcoxon Tests all under two-sample tests. Some  applications to data   in the  field   of  medicine  and  biological sciences  will  be   discussed  in  class. 

STAT 240 Introduction to Statistical Computing

Credit Hours - 3

Overview

The  course  aims to  build  on the  skills  of computing  students   acquired in  the  course STAT 111  and  STAT 112.  Topics to be covers include:  Reviews of some basic concepts in probability and classical statistical inference; triangular distribution, sampling distribution, point estimation, interval estimation, and hypothesis testing. Writing simple codes in R to perform inferences, simulation of random variables from probability distributions; geometric, negative binomial, hyper-geometric, exponential, normal distributions, the visualization of bivariate data. 

STAT 226 Official Statistics

Credit Hours - 2

Overview

In  this  course students  are  introduced to  economic,  social and demographic  statistics. Purposes and scope of the course includes, the structure and work of the National Statistical System; Ghana Statistical Service. Organizational, Methods and Practices of Data Collection and Dissemination. Population Census Methods, Health Information Systems. Environmental Statistics and Introduction to Categorical Data Analysis. 

STAT 222 Introduction to Regression  Analysis

Credit Hours - 2

Overview

The course  is  to provide  the  student with  a basic knowledge of  Regression and  Time Series. Topics include Regression analysis; Simple linear regression: The model and its assumption; Least Square Estimation. Analysis of variance; sums of squares and their interpretation. Coefficient of determination and the correlation coefficient .Examining the Model Assumptions: Graphical Examination of residual. Test of Randomness of residuals, for constancy of variance, for normality.  Use of statistical computing packages in forecasting. 

STAT 220 Introduction to Actuarial Science

Credit Hours - 1

Overview

Topics to cover the first foundations of actuarial practice module, role of the actuary etc. what an actuary is and does, external forces that influence actuarial work, and framework and processes actuaries use to perform actuarial work using Microsoft excel. One hour a week seminar by Members of Actuarial Society of Ghana. Students would be divided  into working groups and  each group  would  be assessed   at  the end  of  the Lecture  series. 

STAT 210 Introduction to Time Series Analysis

Credit Hours - 1

Overview

The course  is  to provide  the  student with  a basic knowledge of Time Series. Topics include Forecasting; Time Series methods, Moving  average, exponential  smoothing, Decomposition of  Time  series and Multiplicative Model, Additive Model, Forecasting.  Some financial/actuarial application of time series. Use of statistical computing packages in forecasting. 

STAT 230 DATA MINING

Credit Hours - 3

Overview  

The course will introduce students to introductory data mining. Topics to be covered include: data warehousing, data mining process (data preparation/cleansing, task identification), Association rules (mining and different algorithm types), Classification/Prediction, Classification (tree-based approaches, Neural Networks, etc), Clustering (statistical vs neural-net and other approaches), Model evaluation and visualization techniques. The course will help students make better sense of large chunks of data which will be incredibly useful in understanding big data.

 
STAT 224 PROBABILITY II

Credit Hours - 3

Overview   

This  course   is aimed  at broaden  and deepen  the  knowledge of  students  theory probability. Topics to be considered  include  the following:  Bivariate Distributions,  Bivariate Moment Generating Functions; their properties and uses. Sampling distributions. Distribution associated with samples from a normal population. The Laws of Large Numbers, and the Central Limit Theorem and its Applications. Statistical Inequalities. Some Statistical  Applications of  Probability; likelihood  functions and estimation. Financial and Actuarial Applications  of  Probability.                           

 
STAT 223 ELEMENTARY STATISTICAL METHODS

Credit Hours - 3

Overview

This course introduces students to  some  basic concepts  of  statistical methods. Topics to be  covered are Bivariate Data analysis, Elements of Statistical inference. Hypothesis testing – One-sample case (test for mean, proportion, power, sample size, test for variance, Confidence intervals) Hypothesis testing – Two-sample case (two-sample test for paired and unpaired means and proportions, power, sample size, equality of variance test, Confidence intervals). ANOVA (one- and two-way), Simple Linear Regression and Correlation Analysis.

 
STAT 221 PROBABILITY I

Credit Hours - 3

 Overview

The course builds  on  concepts introduced  in  STAT 112. Topics  to be  considered include: Further  concepts of Probability, Random Events and Random Variables. The Probability Calculus, Univariate Probability Distributions. Univariate Moment Generating Functions; their properties and uses. Introduction to Bivariate Discrete Distributions; conditional discrete distribution, expectation. Some Probability Modelling based on discrete distributions.

 
ACTU 204 INTRODUCTION TO FINANCIAL MATHEMATICS II

Credit Hours - 3

Overview 

This course  is  aim at  building  on the  foundation  of mathematical  finance that  has been laid  in  the course ACTU 203.  Topics to  be  cover include: Introduction to option pricing; definition  and types  of  options. One period  binomial  and  trinomial  models for  option  pricing. Conditional expectation,   utility functions, examples of  stochastic process. Introduction to interest theory; coupon rate, swap rate, forward rate, simple rate, LIBOR rate. Financial market; some complete market models, some incomplete market models, arbitrage opportunities.

 
ACTU 203 INTRODUCTION TO FINANCIAL MATHEMATICS I

Credit Hours - 3

Overview

This course  is  aim  at  introducing students  to  some basic  concepts  of  mathematical finance. Course content includes foundational concepts of financial mathematics, with applications in calculating present and accumulated values for varied streams of cash flows as a basis for future use in actuarial reserving, valuation, pricing, duration calculation, asset/liability management, investment income, capital budgeting and valuation of contingent cash flows. Basic asset pricing theory, Introduction to optimal  portfolio theory; mean–variance approach, markovitz solution for two assets.   Introduction to option pricing; definition and types of options.  One period binomial and trinomial models for option pricing. A basic knowledge of calculus and an introductory knowledge of probability is assumed for students taking this course.