Page last updated at 10 January 2011, 21:14
Subject ST3
Subject ST3 
The split of Subject ST3 into two subjects is largely welcomed, but students are complaining that there is too much algebra (too many formulae, statistical distributions) particularly in ST8 (pricing), way beyond practical needs. Have they got a point?
I've lectured ST7 at Cass earlier this year and was warned by fellow lecturers to ease students in carefully if I was to include maths in what is otherwise a discursive (as in "using reason and argument") subject. Different parts (or states) of the brain are used for "sums" and "words" so I have some sympathy with this, but doing the job does involve both skills and it would be good if we could preserve the maths/numerical content without confusing the students.
Maybe we should recognise this difficulty, keep the algebra/sums to a narrower set of essential tools and methods, and do more to show how they are a natural extension/application of the points being discussed?
Beyond practical needs? Depends on what you are practising, I think. I guess there are really some guys who are working with these tiresome formulae every day. Aha.
Maybe the students that are complaining about the need to do algebra in actuarial work have chosen the wrong profession?
Isn't this thread better suited to the 'Students' forum?
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