Actuaries are professionals who use specialized skills from probability, statistics and economics to develop and communicate solutions for complex financial and social problems. Actuaries measure and manage risk. They create and manage insurance programs that reduce the adverse financial impact of both expected and unexpected events, such as illnesses, accidents, death, or catastrophes. In addition, actuaries design healthcare and pension plans, making sure there are sufficient resources to pay health and retirement benefits while charging participants a fair price. Actuaries are also in demand in the growing enterprise risk management field, helping companies analyze and hedge risks, and in predictive analytics, helping company leaders analyze data and make strategic decisions.
The bachelor of science in actuarial science listed below is designed to prepare a student in both the mathematics and business areas necessary for success in the rigorous but rewarding actuarial profession.
Admission Requirements
Completion of MATH 172 and MATH 173 with grades of C or higher.
Graduation Requirements
All courses in the major must be completed with grades of C or higher.
Program Learner Outcomes
Upon successful completion of this program, students will be able to:
- apply concepts and tools from probability theory to solve actuarial problems;
- apply concepts and tools from finance, economics, and financial mathematics to solve actuarial problems;
- choose appropriate statistical models for a given situation and evaluate the performance of those models;
- use a modern programming language to implement actuarial models; and
- communicate mathematical and statistical information in a way that is appropriate for the intended audience.