WHAT IS ACTUARIAL SCIENCE?
This major is part of the Math and Engineering Exploration Group
The actuarial science degree is one of the few CLAS majors that prepares students for a specific profession: to become an actuary. Actuaries use mathematics to measure and account for risk in insurance and related businesses. To become a fully licensed actuary, a series of professional exams must be passed and insurance companies give new actuaries paid study time for the exams. In addition to preparing students for an actuarial career, the actuarial science major gives students strong analytical, problem-solving, and critical thinking skills that can be applied to a variety of industries and career sectors. Graduates of this program who do not pursue an actuarial career may find jobs in other parts of the insurance industry, such as sales, financial consulting, and business operations.
Additional courses in finance, economics, computer programming, and accounting are required. Unlike the other tracks, students need a 3.2 grade point average both overall and in math courses to be admitted to this major, and are required to maintain an overall 3.2 grade point average to stay in this major.
Descriptions of the Different Math Major Tracks
There are also several other majors offered within the UConn Math Department:
- Mathematics. This track, which is pure mathematics, has courses such as abstract algebra, abstract linear algebra, analysis, differential geometry, and topology. The required upper-level courses in this track all have Math 2710 as a prerequisite. The difference between the BA and the BS is that the BA track requires one semester of analysis (3150) and the BS track requires a full year of analysis (3150 and 3151).
- Applied Mathematics. The focus is on courses about, or using, differential equations and numerical analysis. Any student planning to do further work in applied math after graduation should study complex variables and (for those interested in mathematical finance) stochastic processes. A difference between the BA and BS degrees in applied math is that the BS requires a semester of analysis (Math 3150), which has Math 2710 as a prerequisite, but the BA does not have this requirement.
- Actuarial Science. This major prepares students to become actuaries. Courses cover financial math, probability, actuarial mathematics, and actuarial modeling. Additional courses in finance, economics, computer programming, and accounting are required. Unlike the other tracks, students need a 3.2 grade point average both overall and in math courses to be admitted to this major, and are required to maintain an overall 3.2 grade point average to stay in this major. More information is available here.
- Actuarial Science-Finance. This track combines actuarial skills with finance courses that emphasize security valuation, forecasting, and financial and risk management. It requires seven upper-level finance and actuarial courses in addition to the requirements for the actuarial science track. Students typically start in the actuarial science track and consider transitioning to this track in their junior year.
- Mathematics-Physics. In this track, which is available only for a BS degree, a student can choose a physics emphasis (Track A, with an advisor in the physics department) or a math emphasis (Track B, with an advisor in the math department). Courses include differential equations, linear algebra, and complex analysis. Students following the math emphasis would choose further courses from areas such as differential geometry, abstract algebra, probability, and analysis (which mostly have Math 2710 as a prerequisite).
- Mathematics-Statistics. This requires differential equations, mathematical statistics, and a certain number of credits in both the math and statistics departments.
HOW TO DECLARE:
HELPFUL INTRO COURSES:
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MATH 1131Q - Calculus 1 (Major Requirement) (Gen Ed: Q Course)
MATH 1132Q - Calculus 2 (Major Requirement) (Gen Ed: Q Course)
MATH 2110Q - Multivariable Calculus (Major Requirement) (Gen Ed: Q Course)
MATH 2620 - Financial Mathematics (Major Requirement)
POSSIBLE CAREER OPPORTUNITIES: