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
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|
|MATH 4700||Advanced Calculus of One Real Variable I||3|
|MATH 4355||Mathematics of Financial Derivatives 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 1320||College Chemistry I||4|
|CHEM 1330||College Chemistry II||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||Mathematics of Financial Derivatives II||3|
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.
|MATH 1500||5||MATH 1700||5|
|ECONOM 1014||3||ECONOM 1015||3|
|ENGLSH 1000||3||INFOTC 1040||3|
|General Education Elective||3||General Education Elective||3|
|MATH 2300||3||MATH 4100||3|
|PHYSCS 2750||5||MATH 4140||3|
|General Elective||3||STAT 4750||3|
|Second language I||4-6||Second language II||4-6|
|General Education Elective||3|
|MATH 4355||3||MATH 3000||3|
|MATH 4370||3||STAT 4510||3|
|STAT 4760||3||MATH 4590 (Elective)||3|
|ACCTCY 2036 or 2026 (Elective)||3||ACCTCY 2037 or 2027 (Elective)||3|
|Second language III||3-4||General Education Elective||3|
|MATH 4700||3||MATH 4372||3|
|General Education Elective||3||Elective||3|
|FINANC 3000 (Elective)||3||Elective||3|
|Total Credits: 122-127|
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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.
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.
- 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.