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>> Sample Four-year Schedule

A B.S. in Actuarial Science requires 120 credit hours. For more information, consult the Undergraduate Actuarial Curriculum or contact Professor Gorvett. The coursework comprises heavily of Math and Statistics classes, along with some Finance and Economics courses.

The courses required for an undergraduate degree in actuarial science are as follows:

1. Math 220 or 221; Math 231; Math 241 or 242
2. CS 101, CS 105, or CS 125, or equivalent (CS 101 recommended)
3. Math 210, Math 408, Math 409, Math 415, Math 469, and Math 471
4. Two of the following: Math 472, Math 476, Math 477, Math 478
5. A third course from the list above, or an approved section of Math 490 (e.g. financial mathematics)
6. FIN 221, FIN 300, FIN 321
7. Two additional courses, chosen in consultation with an adviser, from ECON 302, ECON 303, FIN 230, FIN 431, FIN 432, FIN 434

MATH 135 & 245, or 220, 230, & 242: Calculus, 10 or 11 hours:

The calculus is the fundamental tool of mathematical analysis, and is required for anyone interested in pursuing mathematics past the high school level. Pay special attention to integration techniques, since they are extremely important both on the first exam (Course 1) and in the actuarial classes to follow. The first sequence assumes a high school exposure to analytic geometry; students who have been exposed to analytic geometry are advised to take the 135 & 245 sequence, since then calculus can be completed in the freshman year.

CS 105: Introduction to Business Computing, 3 hours:

This course offers an introductory look at computers, including Windows, spreadsheets, databases, and simple programming.

CS 125: Introduction to Computer Science, 4 hours:

The course introduces you to basic concepts in programming, and will give you a working knowledge of the Java programming language. Topics covered include classes, inheritance, recursion, and sorting algorithms.

MATH 210: The Theory of Interest, 3 hours:

This course looks at interest rates and annuities, and will prepare students for the Course 2 exam. However, Math 210 does not cover the topics in Derivatives Markets, which will be tested in the Course 2 exam. Students taking the Course 2 exam should either attend the Math 370 Z review session or study Derivates Markets independently.

MATH 408 & 409: Actuarial Statistics I & II, 8 hours:

These courses introduce probability and statistics. They are offered as a year-long course, with 408 in the spring and 409 in the fall. It is recommended that the Course P/1 exam be taken immediately after 408.

MATH 469: Applied Statistics, 3 hours:

This course covers the most common applications of statistics, linear regression, and time series. Math 469 satisfies the VEE Applied Statistics requirement.

MATH 471 & 472: Actuarial Theory I & II, 7 hours:

These courses cover life contingencies, with a mathematical study of life insurance and pensions. MATH 471 is required; it is possible but not recommended to skip MATH 472. These courses cover material on the Course M/3 exam.

MATH 410: Linear Algebra & Financial Application, 3 hours:

MATH 410 covers linear algebra, i.e. multiple equations with multiple unknowns.

Four finance courses are required. Three of the four should include:

FIN 221* -- Introduction to Corporate Finance, 3 hours:

This course takes an introductory look at accounting, the time value of money, net present value, bonds, the stock market, and the capital asset pricing model. Ignore the requirements in the timetable; this is an introductory course, and you do not need a year of accounting and a year of economic statistics to take this course.

FIN 230* -- Introduction to Insurance, 3 hours:

This course introduces students to the types of coverage available under life, health, auto, and property insurance. FIN 230 does not directly cover the material on any exam, but is extremely valuable to those students who plan to work for insurance companies.

FIN 300* -- Introduction to Financial Markets, 3 hours:

This course is basically an extension of FIN 221, and it covers arbitrage and option pricing, in addition to a stock market simulation.

FIN 321* -- Corporate Finance, 3 hours:

This course covers the same materials as in Fin 254, but in more depth. It also satisfies the VEE Corporate Finance requirement.

Since the major in actuarial science is offered by the College of Liberal Arts on Sciences, students must complete College of LAS general education requirements, as well as university general education requirements. Most of the requirements are choices among many classes, and are generally up to the student. However, here are a few suggested courses that will not only satisfy some of these requirements but also help students pursue an actuarial career:

ECON 102* -- Introduction to Microeconomics, 3 hours

Every actuarial science major should graduate with at least an introductory level understanding of microeconomics and this class will provide an excellent introduction to microeconomics. This course covers supply and demand, price equilibrium, monopolies, oligopolies, cartels, public goods, economies of scale, and many other important microeconomic concepts.

ECON 103* -- Introduction to Macroeconomics, 3 hours

This course covers classical, Keynesian, and supply-side market theory, with a heavy emphasis on Keynesian. Along with Econ 102, these classes satisfy the VEE Economics requirement.

Econ 302: Intermediate Macroeconomics:

Econ 302 offers a mathematical approach to topics such as supply side economics, profit maximization, demand curves, consumer utility, and market equilibrium.

BTW 250* -- Professional Business Writing, 3 hours

The university requires an advanced writing course. This course is often optimal for actuarial students because it focuses on everyday business writing. Topics covered include how to write memos, business letters, proposals, resumes, and cover letters.

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Sample four-year schedule

This is a sample four-year schedule of key courses as recommended by Professor Gorvett. Classes do not have to be taken in exactly this order, but it provides a general guideline of what classes to take when. Freshman students with AP credit for calculus should try to take the courses recommended for sophomores their freshman year and continue from there.  For more information about these courses, you can consult Professor Gorvertt's advising notes.

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