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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

Students must complete the MU general education requirements, University graduation requirements and the Department Level Requirements in addition to the degree requirements listed below.

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 1500Analytic Geometry and Calculus I5
MATH 1700Calculus II5
MATH 2300Calculus III3
MATH 3000Introduction to Advanced Mathematics3
MATH 4100Differential Equations3
MATH 4140Matrix Theory3
INFOTC 1040Introduction to Problem Solving and Programming3
or CMP_SC 1050 Algorithm Design and Programming I
Total Credits25

Degree Requirements

MATH 4700Advanced Calculus of One Real Variable I3
MATH 4355Mathematics of Financial Derivatives I3
MATH 4370Interest Theory3
MATH 4371Models for Life Contingencies I3
MATH 4372Models for Life Contingencies II3
MATH 4320/STAT 4750Introduction to Probability Theory3
MATH 4520/STAT 4760Statistical Inference I3
Additional course requirements:
STAT 4870Time Series Analysis3
STAT 4510Applied Statistical Models I3
ECONOM 1014Principles of Microeconomics3
ECONOM 1015Principles of Macroeconomics3
Science requirement: 4 or more credits from the following:
PHYSCS 2750University Physics I5
PHYSCS 2760University Physics II5
CHEM 1320College Chemistry I4
CHEM 1330College Chemistry II4
BIO_SC 1500Introduction to Biological Systems with Laboratory5
The following courses are recommended in order to prepare for additional actuarial exam or satisfy addtional VEE requirements:
ACCTCY 2036Accounting I3
FINANC 3000Corporate Finance3
MATH 4590Mathematics of Financial Derivatives II3
Total Credits65

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
MATH 15005MATH 17005
ECONOM 10143ECONOM 10153
ENGLSH 10003INFOTC 10403
General Education Elective3General Education Elective3
STAT 47503 
 17 14
Second Year
MATH 23003MATH 41003
PHYSCS 27505MATH 41403
General Elective3STAT 47503
Second language I4-6Second language II4-6
 General Education Elective3
 15-17 16-18
Third Year
MATH 43553MATH 30003
MATH 43703STAT 45103
STAT 47603MATH 4590 (Elective)3
ACCTCY 2036 or 2026 (Elective)3ACCTCY 2037 or 2027 (Elective)3
Second language III3-4General Education Elective3
 15-16 15
Fourth Year
MATH 47003MATH 43723
MATH 43713Elective3
STAT 48703Elective3
General Education Elective3Elective3
FINANC 3000 (Elective)3Elective3
 15 15
Total Credits: 122-127

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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/.

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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.

  • 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.

  • 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.

For additional major and career exploration resources, visit Major & Career Exploration in the catalog.

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