Actuarial Science Minor
Description
Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries. Actuarial science includes a number of interrelating subjects, including probability and statistics, finance, and economics. Actuarial Science stands at the intersection of risk management and financial management.
Actuaries are professionals who are qualified in this field through education and experience. They use their knowledge of mathematics and probability theory to define, analyze and solve complex business, financial and social problems. They evaluate individual and corporate risks, and design financially sound insurance and investment plans. Actuaries must demonstrate their qualifications by passing a series of professional examinations.
An actuarial minor offers a blend of courses in statistics, mathematics, business and economics. In our increasingly interconnected world, the demand for professionals who manage the financial/economic risk is more and more desirable. Graduates with actuarial education are expected to be in great demand by the insurance and banking industry.
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Program Learning Outcomes
Graduates of this program will be able to:
- demonstrate a basic understanding of probability and statistics by their ability to solve a variety of exam problems.
- correctly solve a variety of actuarial science problems using both basic and advanced mathematical techniques.
- apply actuarial mathematics to problems in a variety of fields, including insurance, finance, investment, and other businesses.
- communicate effectively and clearly both in written and oral form.
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Actuarial Science Minor Requirements - 18 credits
The courses for the actuarial minor are from three areas: mathematics, economics, and business. A minimum of 18 credit hours is required. Students who choose this minor will need to take at least one actuarial exam.
Three Mathematics Courses