Actuarial Sciences Major

Actuarial science is the mathematical analysis of problems in economics, finance, and insurance. It requires knowledge of statistics, probability, and interest theory and how they relate to financial issues.

Official requirements can be found in the Undergraduate Handbook. They will be updated for students starting in Fall 2009 or later according to the requirements below.

Find more about becoming an actuary at the Actuarial Sciences site.

Major Requirements

Students must take 34 preparatory credits and 31 credits from the core curriculum. To emphasize the importance of communication and business skills for actuaries, students are strongly encouraged to take additional courses in communications, economics, and complete an insurance industry internship.

Preparatory Curriculum

The following 34 credits are required:

Math 231           Calculus and Analytic Geometry I
Math 232           Calculus and Analytic Geometry II
Math 233           Calculus and Analytic Geometry III
(A GPA of at least 2.5 in the above or equivalent courses.)

Math 234            Linear Algebra & Differential Equations
BusAdm 201      Understanding Financial Statements
Econ 103            Principles of Microeconomics (VEE)
Econ 104            Principles of Macroeconomics (VEE)

One of
     MthStat 215        Elementary Statistical Analysis
     Econ 210            Economic Statistics
     BusAdm 210      Intro to Management Statistics

Two of
     CompSci 151      Intro to Scientific Computing
     CompSci 201      Intro to Computer Programing
     BusAdm 230      Intro to Information Systems

Core Curriculum

The following 32 credits are required:

Math 311            Theory of Interest (FM/2)
MthStat 361       Intro to Mathematical Statistics I (P/1)
MthStat 362       Intro to Mathematical Statistics II
MthStat 563       Regression Analysis (VEE)
MthStat 564       Time Series Analysis (VEE)
MthStat 591       Foundations of Professional Practice
MthStat 592       Actuarial Science Laboratory I (P/1)
MthStat 593       Actuarial Science Laboratory II (FM/2)
Math 599           Capstone Experience

One of the following pairs
   1.  MthStat 596     Actuarial Statistics I (C/4)
   2.  MthStat 597     Actuarial Statistics II (C/4)
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   1.  Math 571          Intro to Probability Models
   2.  MthStat 691      Actuarial Models I (MLC)
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   1.  Math 571          Intro to Probability Models
   2.  MthStat 692      Actuarial Models II (MFE/3F)

One of
     Econ 301             Intermediate Microeconomics (VEE)
     Econ 302             Intermediate Macroeconomics (VEE)

One of
     BusAdm 350        Principles of Finance
     BusAdm 450        Intermediate Finance (VEE)

Recommended Electives

Some of the required and recommended coursework will satisfy portions of the Letters and Science distribution requirements.  Students are strongly encouraged to take Commun 103 (Introduction to Public Speaking) and Commun 264 (Persuasive Speaking) as part of the humanities requirement.  Econ 248 (Economics of Discrimination and Poverty) satisfies the cultural diversity requirement.  Also recommended are Econ 221 (Health Economics) and MthStat 489 (Internship).