Actuarial Science Program Degree Options

REQUIREMENTS for the ACTUARIAL SCIENCE MAJOR (BSc)

See Sample Plan of Study

Entering students should select all their courses in consultation with the Director of the Actuarial Science Program.

Students majoring in Actuarial Science must meet the following requirements:

Course        Description                                                                          Credits

FOR GENERAL EDUCATION *

MATH 241 Calculus I                                                                          4

INSS    141 Intro to Computer Systems                                           3

                    FOR THE MAJOR

MATH 130 Introduction to Actuarial Science                               2

MATH 242 Calculus II                                                                       4

MATH 243 Calculus III                                                                      4

MATH 312 Linear Algebra I                                                              3

MATH 331 Applied Probability and Statistics                               3

MATH 333 Appl Reg, Correlation & Time Series Analysis**     3

MATH 337 Nonparametric Statistical Methods                            3

MATH 340 Intro to Differential Equations                                    3

MATH 346 Financial Mathematics                                                  4

MATH 363 Actuarial and Stochastic Modeling I                          3

MATH 364 Actuarial and Stochastic Modeling II                        3

MATH 431 Mathematical Theory of Statistics I                            3

MATH 432 Mathematical Theory of Statistics II                          3

ACSC 433 Problem Solving Techniques and Applications       2

MATH 45X (CHOOSE ONE COURSE)                                 3

                     MATH 450 Senior Seminar (directed reading in AS)

                     MATH 451 Honors Conference Course

                    MATH 452 Conference Seminar                                                                        

ACCT 201 Principles of Accounting I                                                 3

ACCT 202 Principles of Accounting II                                               3

ECON 211 Principles of Economics I (Intro to Macro)**               3

ECON 212 Principles of Economics II (Intro to Micro)**              3

FIN 343      Managerial Finance**                                                       3

FIN 344      Security Analysis**                                                            3

BUAD 361 Fundamentals of Risk Management                               3

BUAD 362 Life and Health Insurance                                                3

                                                                                 TOTAL:                        80                           

* Actuarial Science majors must select this course to fulfill the Mathematics requirements

   under General Education.

** Validation by Educational Experience (VEE) course.    

REQUIREMENTS

 for the

 MATHEMATICS MAJOR WITH A CONCENTRATION IN ACTUARIAL SCEINCE

See Sample Plan of Study

Students majoring in Mathematics (with a concentration in Actuarial Science) must meet the following requirements:

Course        Description                                                                                      Credits

FOR GENERAL EDUCATION *

MATH 215 Foundations for Advanced Mathematics I                                                        3

INSS 141 Intro to Comp Sys                                                                                         3

FOR THE MAJOR

MATH 130 Introduction to Actuarial Science                                                                    2

MATH 216 Foundations for Advanced Mathematics II                                                       3

MATH 241 Calculus I                                                                                                     4

MATH 242 Calculus II                                                                                                    4

MATH 243 Calculus III                                                                                                   4

MATH 312 Linear Algebra I                                                                                             3

MATH 331 Applied Probability and Statistics                                                                     3

MATH 333 Applied Regression, Correlation & Time Series Analysis**                                  3

MATH 337 Nonparametric Statistical Methods                                                                   3

MATH 340 Intro to Differential Equations                                                                          3

MATH 341 Advanced Calculus I                                                                                        3

MATH 346 Financial Mathematics                                                                                     4

MATH 431 Mathematical Theory of Statistics I                                                                   3

MATH 432 Mathematical Theory of Statistics II                                                                  3

MATH XXX (CHOOSE ONE COURSE)                                                                              3

MATH 334 Applied Analysis of Var

MATH 352 Numerical Analysis

 MATH 440 Intro to Partial Diff Eq

 MATH 363 Act & Stoch Modelling I

MATH 45X (CHOOSE ONE COURSE)                                                                               3

MATH 450 Senior Seminar (directed reading in AS)

MATH 451 Honors Conference Course

MATH 452 Conference Seminar

OTHER

ACCT 201 Principles of Accounting I                                                                                 3

ACCT 202 Principles of Accounting II                                                                                3

ECON 211 Principles of Economics I (Intro to Macroeconomics)**                                       3

ECON 212 Principles of Economics II (Intro to Microeconomics)**                                       3

FIN 343     Managerial Finance**                                                                                     3

PHYS 206 University Physics                                                                                            5

                                                                                                                                      

                 TOTAL:                                                                                                       77

* Mathematics majors must select this course to fulfill the Mathematics requirements

under General Education.

** Validation by Educational Experience (VEE) course.

Other courses highly recommended for SOA exam preparation but not required for graduation are: ACSC 433 Problem Solving Techniques and Applications in Probability       

THE MINOR IN ACTUARIAL SCIENCE

WHO CAN EARN THE MINOR?
The minor in Actuarial Science is open to all students in all majors. It is most commonly selected by Mathematics, Economics, Accounting, Finance, Business Administration, Biology, Computer Science and Engineering students who desire to apply financial theory, decision-making,  risk management and Insurance concepts to their disciplines to help them fully tailor their skills and prepare for their future careers. The minor in actuarial science consists of 18 credits.

WHAT ARE THE BENEFITS OF COMPLETING THE MINOR?
The Actuarial Science minor will give students the opportunity to explore the actuarial science field and the flexibility to apply these risk assessment and management concepts within their discipline. Additionally, the courses within the minor will help students understand many of the concepts covered in the first two actuarial exams (P/1 and FM/2). Most companies hiring actuaries want to see that the students have attempted at least one of the first two exams before graduation. Additionally, the other courses in the minor meet the Validation by Educational Experience (VEE) requirements for Applied Statistical Methods, Corporate Finance and Economics. Taking these courses while at Morgan State University means that students will not have to take them somewhere else after they graduate.

REQUIREMENTS FOR MINOR IN ACTUARIAL SCIENCE

MATH Majors Course                                credits	non-MATH Majors  Course                                credits
MATH/ACSC 346                        4	MATH/ACSC 346                        4 MATH 201 or MATH 242 serve as the course prerequisite
MATH/ACSC 433                        2	MATH/ACSC 433                        2
MATH 432                                   3	MATH 431                                   3
	MATH 432                                   3
REQUIRED CREDITS                   9 ELECTIVES must also include nine (9) credits from: ACCT 201, ACCT 202, ECON 211, ECON 212, MATH 363, MATH 364, FIN 343, FIN 344	REQUIRED CREDITS                 12 ELECTIVES must also include six (6) credits from: MATH 331, MATH 333, MATH 337, MATH 363, MATH 364
TOTAL CREDITS                      18	TOTAL CREDITS                       18

Prerequisite/elective substitutions may be permitted (please see Director of Actuarial Science Program).  Students choosing a minor in Actuarial Science may use  MATH 201 to satisfy the prerequisite for MATH346.

•·        COURSE DUPLICATIONS

No credit will be given for courses taken in fulfillment of students' majors, these include students' general education requirements. To avoid taking courses for which credit is not allowed, students should consult with their advisor or the Director of the Actuarial Science Program.