BS in Mathematics with Emphasis in Actuarial Science and Mathematical Finance
Degree Program Description
Actuarial science applies mathematical and statistical methods to finance and insurance, particularly to the assessment of risk. Actuarial science includes a number of interrelating disciplines, in particular the mathematics of probability and statistics. In the life insurance industry, traditional actuarial science focuses on the analysis of mortality and the production of life tables, and the application of compound interest. More recently, actuarial science has come to embrace more sophisticated mathematical modeling of finance. Ideas from financial economics are also becoming increasingly influential in actuarial thinking.
Major Program Requirements
In addition to Department Level Requirements, University, general education, and College of Arts and Science requirements, students must also meet the following major program requirements. All major requirements in the College of Arts and Science must be completed with grades of C- or higher unless otherwise indicated.
This emphasis area will serve those who want to pursue a career in the financial and insurance industries. It will also help BS students to prepare for their first actuarial exams. In addition to course requirements, students completing this program are also required to attempt two actuarial exams (Probability and Financial Mathematics or equivalent).
Students may apply to be Math majors upon meeting the following criteria:
- Completion of ENGLSH 1000 and MATH 2300
- Both cumulative GPA and GPA in Math courses numbered 1500 and above (expect for 2100) of 2.5 or above.
All math courses required for the degree must be passed with a grade of C- or above.
| Core Math Requirements for all Math degrees (24 credits) | ||
| MATH 1500 | Analytic Geometry and Calculus I | 5 |
| MATH 1700 | Calculus II | 5 |
| MATH 2300 | Calculus III | 3 |
| MATH 3000 | Introduction to Advanced Mathematics | 3 |
| MATH 4100 | Differential Equations | 3 |
| MATH 4140 | Matrix Theory | 3 |
| INFOTC 1040 | Introduction to Problem Solving and Programming | 3 |
| or CMP_SC 1050 | Algorithm Design and Programming I | |
| or CMP_SC 1300 | Computing with Data in Python | |
| Total Credits | 25 | |
Degree Requirements
| MATH 4700 | Advanced Calculus of One Real Variable I | 3 |
| MATH 4355 | Quantitative Finance and Insurance I | 3 |
| MATH 4370 | Interest Theory | 3 |
| MATH 4371 | Models for Life Contingencies I | 3 |
| MATH 4372 | Models for Life Contingencies II | 3 |
| MATH 4320/STAT 4750 | Introduction to Probability Theory | 3 |
| MATH 4520/STAT 4760 | Statistical Inference I | 3 |
| Additional course requirements: | ||
| STAT 4870 | Time Series Analysis | 3 |
| STAT 4510 | Applied Statistical Models I | 3 |
| ECONOM 1014 | Principles of Microeconomics | 3 |
| ECONOM 1015 | Principles of Macroeconomics | 3 |
| Science requirement: 4 or more credits from the following: | ||
| PHYSCS 2750 | University Physics I | 5 |
| PHYSCS 2760 | University Physics II | 5 |
| CHEM 1400 & CHEM 1401 | College Chemistry I and College Chemistry I Laboratory | 4 |
| CHEM 1410 & CHEM 1411 | College Chemistry II and College Chemistry II Laboratory | 4 |
| BIO_SC 1500 | Introduction to Biological Systems with Laboratory | 5 |
| The following courses are recommended in order to prepare for additional actuarial exam or satisfy addtional VEE requirements: | ||
| ACCTCY 2036 | Accounting I | 3 |
| FINANC 3000 | Corporate Finance | 3 |
| MATH 4590 | Quantitative Finance and Insurance II | 3 |
| Total Credits | 65 | |
Semester Plan
Below is a sample plan of study, semester by semester. A student's actual plan may vary based on course choices where options are available.
| First Year | |||
|---|---|---|---|
| Fall | Credits | Spring | Credits |
| MATH 1500 (Math and Quantitative Reasoning) | 5 | MATH 1700 | 5 |
| ECONOM 1014 (Social Science from Arts and Science, Arts and Science Diversity Requirement) | 3 | ECONOM 1015 (Social Science) | 3 |
| ENGLSH 1000 | 3 | INFOTC 1040 or CMP_SC 1300 | 3 |
| Humanities from Arts and Science | 3 | Behavioral Science from Arts and Science | 3 |
| 14 | 14 | ||
| Second Year | |||
| Fall | Credits | Spring | Credits |
| MATH 2300 | 3 | MATH 4100 | 3 |
| Humanities, First Writing Intensive | 3 | MATH 4140 | 3 |
| Missouri State Law Requirement | 3 | STAT 4750 | 3 |
| Science Requirement (Biological or Physical Science lab) | 5 | Biological, Physical, or Mathematical Science | 3 |
| Second major, minor, certificate, or elective | 3 | Second major, minor, certificate, or elective | 3 |
| 17 | 15 | ||
| Third Year | |||
| Fall | Credits | Spring | Credits |
| MATH 4370 | 3 | MATH 3000W | 3 |
| STAT 4760 | 3 | STAT 4510 | 3 |
| ACCTCY 2036 or 2026 (Educational Experience requirement for the Society of Actuaries, Second Language Alternative) | 3 | ACCTCY 2037 or 2027 (Educational Experience requirement for the Society of Actuaries, Second Language Alternative) | 3 |
| Biological, Physical, or Mathematical Science, 2000+ level | 3 | Humanities, 2000+ level | 3 |
| Second major, minor, certificate, or elective | 3 | Second major, minor, certificate, or elective | 3 |
| 15 | 15 | ||
| Fourth Year | |||
| Fall | Credits | Spring | Credits |
| MATH 4355 | 3 | MATH 4372 | 3 |
| MATH 4371 | 3 | MATH 4700 | 3 |
| STAT 4870 | 3 | Accounting or Finance Class (Second Language Alternative) | 3 |
| FINANC 3000 (Educational Experience requirement for the Society of Actuaries, Second Language Alternative) | 3 | Second major, minor, certificate, or elective | 3 |
| Second major, minor, certificate, or elective | 3 | Second major, minor, certificate, or elective | 3 |
| 15 | 15 | ||
| Total Credits: 120 | |||
Degree Audit
The degree audit is an automated report reflecting a student’s academic progress toward the completion of a degree.
MU students can request a degree audit by logging in to myDegreePlanner. Students may also access myDegreePlanner via myZou, in the Student Center, click on the Academic Progress Tile, then select Request Degree Audit. The audit automatically pulls in the student’s MU course work, transfer courses and courses in progress. This is available to current students, admitted students, and those who last attended less than three terms ago.
Past MU students can request a degree audit by contacting the Academic Advising Unit of the division in which they were last enrolled at MU. For contact information, go to https://advising.missouri.edu/contact/.
Prospective students, can access a preliminary MU degree audit via https://www.transferology.com. Information on the college credits already earned will have to be manually entered before it can be evaluated against current degree requirements.
For additional details on degree audits, go to https://registrar.missouri.edu/degrees-audits/degree-audits/.
Major and Career Exploration
The University of Missouri has many resources to assist you in exploring majors and career possibilities. For guidance, visit the Majors and Careers website or view specific resources below.
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If you are considering a change of major or are exploring multiple majors, schedule an appointment with an advisor in the Discovery Center by calling (573)884-9700 or through MU Connect Discovery Center service in you success network.
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If you have decided on a major, visit an academic advisor in the School or College that you are interested in to discuss the process of declaring the major.
- If you would like to learn more about your career interests, abilities, values and talents, visit the MU Career Center. No Appointment is necessary to explore career options with one of our staff members.
- If you would like information about MU majors and degree programs, visit:
- the Degrees, Majors (Degree Programs), Emphasis Areas, Minors and Certificates page in the catalog,
- the MU Majors website.
For additional major and career exploration resources, visit Major & Career Exploration in the catalog.