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Wisconsin School of Business

Actuarial Science

Courses

Actuarial science deals with the application of mathematics, statistics, and the principles of finance to the construction and management of insurance and pension systems. The curriculum prepares students for careers with insurance companies, consulting firms, and governmental agencies. Courses offered cover the material of the associateship examinations of the Society of Actuaries and the Casualty Actuarial Society, although it is not expected that a student will complete these examinations in the course of the undergraduate program.

Requirements for the Major

Math 431 Introduction to the Theory of Probability, 3 cr or
Stat 309 Introduction to Mathematical Statistics, 4 cr or
Stat 311 Introduction to Mathematical Statistics 4 cr

Stat 310 Introduction to Mathematical Statistics, 4 cr or
Stat 312 Introduction to Mathematical Statistics, 4 cr

Act Sci 303 Theory of Interest and Life Insurance, 3 cr
Act Sci 650 Actuarial Mathematics 1, 3 cr
Act Sci 652 Loss Models I, 3 cr
Actuarial Science review classes (Act Sci 300 and 301), 2 cr

Act Sci 651 Actuarial Mathematics II, 3 cr or
Act Sci 653 Loss Models II, 3 cr

One of the following three courses:
Act Sci 654 Regression and Time Series for Actuaries, 3 cr or
Econ 301 Intermediate Microeconomic Theory, 4 cr or
Math 632 Introduction to Stochastic Processes, 3 cr

Recommended Electives

Math 234 Calculus—Functions and Variables, 3 cr
Math 340 Elementary Matrix and Linear Algebra, 3 cr

Students are encouraged to take Math 234 Calculus—Functions of Several Variables before taking probability (Math 431, Stat 309, or Stat 311), courses in Risk Management and Insurance, Finance, and Computer Science.