BSc (Hons) Actuarial Science (with a year in industry)

Program Overview

The Actuarial Science (with a year in industry) (BSc) program at the University of York combines mathematical modeling with business and finance expertise. Students develop skills in probability, statistics, economics, and accounting, preparing them for careers in finance, investment, risk, pensions, and insurance. The program includes a year-long industry placement, providing valuable real-world experience and enhancing employability.

Program Outline

Actuarial Science (with a year in industry) (BSc) at the University of York

Degree Overview

• Develop mathematical models to manage financial impact of uncertainty and risk.
• Combining expertise of the School of Business & Society and Department of Mathematics.
• Access to world-class academics at the cutting edge of research.
• Sharpen mathematical skills and statistical reasoning using advanced calculus, algebra, probability, and statistics.
• Study economics, finance, and accounting, developing business context understanding for actuarial work.
• Year in industry offers opportunity to apply theory, gaining valuable experience.
• Successful completion qualifies you as a multi-faceted, highly employable graduate with finance and business skills to become a professional actuary.
• Three-year degree option without industry year available: Actuarial Science (BSc).
• Professionally accredited by the Institute and Faculty of Actuaries, guaranteeing course quality and relevance to the profession.

Outline

• Year 1 builds foundations with skills and knowledge applied throughout the degree.
• Core modules: Foundations and Calculus, Introduction to Probability and Statistics, Introduction to Accounting, Multivariable Calculus and Matrices, Business Economics, Finance Fundamentals.
• Year 2 continues developing mathematical skills in probability and statistics, introduces key actuarial concepts and techniques.
• Core modules: Probability and Markov Chains, Actuarial Mathematics, Corporate Finance, Statistical Inference and Linear Models, Actuarial Modelling, Financial Modelling with R.
• Year 3 is a year in industry, applying academic learning to a real-life business.
• Placement providers include Morgan Stanley, PricewaterhouseCoopers, Ernst & Young.
• Average salary for placements in 2019/20 was £17,000, ranging from £14,800 to £21,500.
• Year 4
focuses on advanced data analysis methods, explores sophisticated mathematical approaches to modeling financial and actuarial processes.
• Core modules: Decision Theory and Bayesian Statistics, Further Statistics for Actuarial Science, Contingencies, Mathematical Finance in Discrete Time, Mathematical Finance in Continuous Time.
• Option modules: choose one from Sustainability and Business, Auditing, Company Law, Cyber Security for Managers, Real Options Valuation, Managing Diversity, Time Series, Operations Research.

Assessment

• Assessed by closed examinations, weekly problem sets, essays, and projects.
• Second and final years offer choosing preferred assessment forms by opting for specific modules.
• Emphasis on examinations due to accreditation requirements by the Institute and Faculty of Actuaries.

Teaching

• Taught by leading academics from the Department of Mathematics and the School for Business and Society.
• Variety of teaching methods: lectures, seminars, problem classes, activity-based workshops, independent study, group projects.
• Strong practical focus to apply and develop skills.
• Encourages independent learning and development, providing necessary support.
• Timetable for first year:
• Lectures: 11-12 hours per week
• Seminars: 3-4 hours per week
• Practicals: 0-1 hours per week

Careers

• Equips graduates with high-level mathematics and cutting-edge financial and business theory.
• Sought after by employers in finance, investment, risk, pensions, and insurance.
• Many progress to actuarial trainee positions at firms like Mercer, Willis Towers Watson, EY, RSA, MS Amlin, Deloitte, and PwC.

Other

• Year in industry placement gives management experience, opportunity to apply academic knowledge, and improve employability.
• Provides bespoke employability training.
• Open doors for study abroad.
• Has student exchange partnerships with institutions like Columbia University, Sciences Po, Keio University, Nanyang Technological University.

Conclusion

This information provides a comprehensive overview of the Actuarial Science (with a year in industry) (BSc) program at the University of York. For additional details or specific questions, visiting the university website or contacting them directly is recommended.

UK (home) fees

£9,250 per year

International and EU fees

£23,700 per year