Actuarial Science, B.S. (Mathematics)

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Requirements for the major in actuarial science, B.S. program

Because an actuary needs a blend of mathematics, economics, statistics and finance, this major is offered jointly by the Department of Mathematics and Statistics and the Department of Economics. However, the major in actuarial science differs significantly from the other majors offered by these two departments because it (1) prepares students for jobs in actuarial science and provides them with the educational background necessary to pursue an advanced degree in economics, mathematics, statistics, or business administration, (2) integrates two distinctly different disciplines, thereby providing students with a breadth of knowledge that is needed in a fast-changing world, and (3) provides students with the analytical and reasoning skills to successfully complete the first two exams in actuarial science offered by the Society of Actuaries.

To earn the Bachelor of Science degree with a major in actuarial science, students must

5. Complete

FIN 3220 - Managerial Finance I (4)
FIN 3600 - Investment Analysis (3) or FIN 4250 Financial Derivatives (3) (Note: students who have taken FIN 480 or FIN 425 under a previous catalog may use these courses as a substitute for FIN 3600 )
FIN 3720 - Managerial Finance II (3)

6. Complete

ECN 4050 - Econometrics (3) or STA 4002 - Applied Linear Models I (4)
ACS 4550 Financial Mathematics (3)

7. Complete

MIS 3140 - Business Database Systems (3)
MIS 4460 - Business Analytics (3)

8. Complete one of the following electives

APM 2555 - Introduction to Differential Equations with Matrix Algebra (4)
APM 4333 - Numerical Methods (4)
APM 4334 - Applied Numerical Methods: Matrix Methods (4)
STA 4225 - Elements of Stochastic Processes (4)
STA 4228 - Introduction to Mathematical Statistics II (4)

9. Complete cognate courses

ACC 2000 - Introductory Financial Accounting (4)
ACC 3010 - Financial Reporting and Analysis (3)
EGR 1400 - Computer Problem Solving in Engineering and Computer Science (4)
WRT 3082 - Business Writing (4)

10. Complete ACHIEVE courses

SBC 1990 - ACHIEVE I (0) (to be taken during the freshman year or first year as an actuarial science major)
SBC 2990 - ACHIEVE II (0) (to be taken during the fall semester of the sophomore year or the second semester as an actuarial science major)
ACS 3990 - ACHIEVE 3 Actuarial Sciences (0) (to be taken during the second semester of the sophomore year or the third semester as an actuarial science major)

11. Earn a minimum grade of 2.0 in all courses applied to the major including cognate courses for the major.

Additional Information

In addition to these major requirements, students must complete the Oakland University General Education Requirements , the College of Arts and Sciences College Exploratory Requirement , and an appropriate number of free elective classes to meet the overall credit requirement for the degree (in most cases 124; some degrees may require a greater number).

As a general rule, no more than eight credits of course work used to satisfy one major, minor or concentration may be applied toward another, but exceptions to this rule may be allowed with the written approval of the program coordinators.