Actuarial science is a growing field with opportunities for rewarding, well-compensated careers. Actuaries serve organizations of many kinds by managing risk to help industries decrease the probability of unfavorable events. While a specific major is not required to enter the field, a minor in actuarial mathematics and statistics offers students an opportunity to assess their interest in this career while strengthening overall skills in mathematics and statistics.  

The Actuarial Mathematics and Statistics minor is aimed at students interested in actuarial science with a primary area of study in business-related fields. The minor complements courses traditionally offered by the Business School on accounting, finance and risk management. Completion of the minor helps students prepare for professional actuarial exams necessary to enter the field. For rigorous preparation with a broader view of mathematics, students may also choose to major or double major in mathematics with an actuarial emphasis.  

The Statistics Department also offers a Major with a Concentration in Actuarial Science.

Minor Requirements (18 Hours)

Prerequisites

Course List

Course	Title	Credits
MATH 141	Calculus I	4
MATH 142	Calculus II	4
MATH 241	Vector Calculus	3
Total Credit Hours		11

 Core Courses

Course List

Course	Title	Credits
MATH 511	Probability	3
STAT 512	Mathematical Statistics	3
STAT 513	Theory of Statistical Inference	3
Select three of the following:		9
MATH 344	Applied Linear Algebra
or MATH 544	Linear Algebra
MATH 514	Financial Mathematics I
or STAT 522	Financial Mathematics I
MATH 515	Financial Mathematics II
or STAT 523	Financial Mathematics II
MATH 520	Ordinary Differential Equations
MATH 524	Nonlinear Optimization
MATH 570	Discrete Optimization
MATH 574	Discrete Mathematics I
STAT 520	Forecasting and Time Series
STAT 521	Applied Stochastic Processes
STAT 587	Big Data Analytics
or CSCE 587	Big Data Analytics
Total Credit Hours		18

Note: Only one of MATH 344/MATH 544 may be counted for the minor.