Program Overview
The Bachelor of Science in Actuarial Science equips students with the quantitative skills necessary to assess financial risk. Through coursework in calculus, probability, statistics, economics, finance, and actuarial science, graduates are prepared for careers as actuaries, who evaluate financial risks associated with insurance, investments, and other financial products. The program emphasizes the application of actuarial concepts to real-world problems and prepares students for professional exams and validation requirements.
Program Outline
Degree Overview:
Overview:
The Bachelor of Science (B.S.) in Actuarial Science provides students with the quantitative skills used by actuaries. Students are required to complete courses offered by the Department of Mathematics and Computer Science, the Department of Economics, and the College of Business Administration. Students take coursework in calculus, financial mathematics, statistics, economics, econometrics, and finance. The program is designed to provide students with a solid preparation to take exams and complete validation by educational experience requirements needed to begin a career as an actuary.
Objectives:
Learning Outcomes:
Upon completion of the program, graduates will be able to:
- Learn basic programming techniques for use in actuarial applications.
- Understand the fundamental concepts of financial mathematics and how those concepts are applied in present and accumulated values for various streams of cash flow.
- Develop the fundamental probability tools for quantitatively assessing risk.
- Use the concepts of statistical inference, such as estimation and hypothesis testing, required for actuarial modeling.
- Become familiar with regression models to analyze and forecast time series data.
- Use economic reasoning to explain individual decision-making and economy-wide outcomes.
- Understand and apply accounting concepts and knowledge of financial instruments and how they are utilized.
- Develop knowledge of the theoretical basis of actuarial models and the application of those models to insurance and other financial risks.
Program Description:
The BS in Actuarial Science provides students with the mathematical and statistical skills necessary to assess financial risk. Students in this program take courses in calculus, probability, statistics, economics, finance, and actuarial science. The program is designed to prepare students for careers as actuaries, who use their skills to evaluate the financial risks associated with insurance, investments, and other financial products.
Outline:
Course Schedule:
Year 1:
- Fall: INTDSC 1003, ENGL 1100, MATH 1320, INFSYS 1800, MATH 1800, EXPLORE - Humanities and Fine Arts, CORE - Communication Proficiency
- Spring: MATH 1900, MATH 2000, CMP SCI 1250, ECON 1002, ECON 1001, EXPLORE - Humanities and Fine Arts
Year 2:
- Fall: ECON 4100, INFSYS 2800, ACCTNG 2400, MATH 4020, MATH 4010, EXPLORE - Humanities and Fine Arts
- Spring: Recommended course, elective or minor, Recommended course, elective or minor, Recommended course, elective or minor, EXPLORE - Humanities and Fine Arts, Recommended course, elective or minor
Year 4:
- Fall: Recommended course, elective or minor, Recommended course, elective or minor, Recommended course, elective or minor, Recommended course, elective or minor, Recommended course, elective or minor
- Spring: Recommended course, elective or minor, Recommended course, elective or minor, Recommended course, elective or minor, Recommended course, elective or minor, Recommended course, elective or minor
Assessment:
Assessment Methods:
Students in the Actuarial Science program are assessed through a variety of methods, including:
- Exams
- Quizzes
- Projects
- Presentations
- Homework assignments
Assessment Criteria:
Students are evaluated on their ability to:
- Understand the fundamental concepts of actuarial science
- Apply actuarial concepts to real-world problems
- Communicate their findings effectively
- Work independently and as part of a team
Teaching:
Teaching Methods:
The Actuarial Science program uses a variety of teaching methods, including:
- Lectures
- Discussions
- Problem-solving sessions
- Case studies
- Simulations
Faculty:
The Actuarial Science program is taught by a team of experienced faculty members who are actively involved in research and practice. The faculty are committed to providing students with a high-quality education and preparing them for success in the actuarial profession.
Careers:
Career Paths:
Graduates of the Actuarial Science program are prepared for a variety of careers, including:
- Actuary
- Financial Analyst
- Insurance Underwriter
- Risk Manager
- Data Scientist
- Statistician
Opportunities:
Actuaries are in high demand in a variety of industries, including insurance, finance, and consulting. The median salary for actuaries is over $100,000 per year.
Outcomes:
Graduates of the Actuarial Science program have a high rate of success in finding employment in the actuarial profession. Many graduates go on to become successful actuaries and leaders in the field.
