Fall 2019 - ACMA 490 D100

Selected Topics in Actuarial Science (3)

Stochastic Models of Retirement Income

Class Number: 4384

Delivery Method: In Person


  • Course Times + Location:

    Mo 10:30 AM – 12:20 PM
    WMC 3250, Burnaby

    We 10:30 AM – 11:20 AM
    WMC 2503, Burnaby

  • Exam Times + Location:

    Dec 10, 2019
    8:30 AM – 11:30 AM
    AQ 5015, Burnaby

  • Instructor:

    Barbara Sanders
    778 782-9074
    Office: SC-K10554
  • Prerequisites:

    Dependent on the topic covered.



The topics included in this course will vary from term to term depending on faculty availability and student interest.


Course Title: Stochastic Models of Retirement Income

Pre-requisties: Permission of the instructor.

Course Outline:

This course examines models for decision-making in the presence of uncertainty, with a special interest in decisions involved in planning for income in retirement. Topics covered include:

1.General theory of economic and financial decisions under risk

  •    Utility, risk aversion, and decision theory
  •    Risk management: portfolio choice, consumption and saving, optimal insurance
  •    Risk sharing: centralized and decentralized models for the efficient allocation of risks
2.Applications in the context of retirement income
  •    Individual savings decisions
  •    Risk transfers and guarantees
  •    Risk sharing in collective retirement arrangements


  • Assignments, presentations, project 50%
  • Exam 50%


Above grading is subject to change.



Eeckhoudt, L., Gollier, C., and Schlesinger, H. (2005). Economic and Financial Decisions under Risk. Princeton University Press.

Additional weekly readings will be distributed via Canvas.

Department Undergraduate Notes:

Students with Disabilites:
Students requiring accommodations as a result of disability must contact the Centre for Accessible Learning 778-782-3112 or csdo@sfu.ca

Tutor Requests:
Students looking for a Tutor should visit http://www.stat.sfu.ca/teaching/need-a-tutor-.html. We accept no responsibility for the consequences of any actions taken related to tutors.

Registrar Notes:

SFU’s Academic Integrity web site http://www.sfu.ca/students/academicintegrity.html is filled with information on what is meant by academic dishonesty, where you can find resources to help with your studies and the consequences of cheating.  Check out the site for more information and videos that help explain the issues in plain English.

Each student is responsible for his or her conduct as it affects the University community.  Academic dishonesty, in whatever form, is ultimately destructive of the values of the University. Furthermore, it is unfair and discouraging to the majority of students who pursue their studies honestly. Scholarly integrity is required of all members of the University. http://www.sfu.ca/policies/gazette/student/s10-01.html