Business Administration, Business Actuarial Science, B.S.

With a blend of mathematics, economics, statistics, and finance, an Actuarial Science major positions graduates to become experts in evaluating the likelihood of undesirable events and decreasing their impact. The program prepares students for jobs in the field, as well as provides the educational background to pursue an advanced degree in economics, mathematics, statistics, or business administration.

Actuarial science is a discipline in which complex data sets are used to analyze risk probabilities and their associated costs. Corporations rely on actuarial risk evaluation to frame their strategic management decisions. Actuaries are employed by the insurance industry, corporations, and the government. To become an actuary, a strong background in statistics, economics, and finance is required.

Special offerings for each semester may be found in the Schedule of Classes.

Requirements for the major in Business Administration, Business Actuarial Science, B.S.

Students seeking the Bachelor of Science degree in Business Actuarial Science must complete a minimum of 120 credits including the following requirements:

General Education requirements

In order to graduate on-schedule without taking additional courses, it is highly recommended that students meet with an Undergraduate Academic Adviser concerning the selection of all of their general education courses.

Each candidate for an Oakland University baccalaureate will need to satisfactorily complete approved courses in each of the following areas: Foundations, Explorations, and Integration. For details, refer to the General Education Requirements section of the catalog.

Business Pre-Core required courses

ACC 2000 - Financial Accounting (4)
ACC 2100 - Managerial and Cost Accounting I (4)
COM 2000 - Public Speaking (4) or COM 2403 - Group Dynamics and Communication (4) or COM 3401 - Communication in Organizations (4) or COM 3403 - Interpersonal Conflict (4)
ECN 2020 - Principles of Global Macroeconomics (4) or ECN 2000 - Principles of Macroeconomics (4)
ECN 2010 - Principles of Microeconomics (4)
MIS 1000 - Business Problem Solving with Information Technology (3)
MTH 1221 - Linear Programming Elementary Functions (4) or MTH 1441 - Precalculus (4) or MTH 1331 - College Algebra (4)
MTH 1222 - Calculus for the Social Sciences (4) or MTH 1554 - Calculus I (4)
QMM 2400 - Statistical Methods for Business I (3) or STA 2220 - Introduction to Statistical Concepts and Reasoning (4) or STA 2226 - Applied Probability and Statistics (4)
QMM 2410 - Statistical Methods for Business II (3)
SBC 1990 - ACHIEVE I (0)
SBC 2990 - ACHIEVE II (0)

*If a student places into and completes MTH 1222 or MTH 1554 with the required minimum grade, MTH 1221 or MTH 1441 or MTH 1331 is not required.

*If a student receives transfer credit for MTH 1222 or MTH 1554, MTH 1221 or MTH 1441 or MTH 1331 is not required.

Business Core required courses

ECN 3030 - Managerial Economics (3)
FIN 3220 - Managerial Finance I (3)
MGT 3500 - Legal Environment of Business (3)
MGT 4350 - Management Strategies and Policies (3)
MIS 3000 - Management Information Systems (3)
MKT 3020 - Marketing (3)
ORG 3300 - Introduction to Organizational Behavior (3)
ORG 3310 - Introduction to the Management of Human Resources (3)
POM 3430 - Operations Management (3)
WRT 3082 - Business Writing (4) or ENG 3110 - Advanced Critical Writing (4)

Business Actuarial Science courses

MTH 1555 - Calculus II (4)
MTH 2554 - Multivariable Calculus (4)
MTH 2775 - Linear Algebra (4)
ACS 3000 - Foundations of Probability and Calculus (1)
(unless the student has earned a grade of at least B+ in MTH 2554 - Multivariable Calculus (4) or permission of the chief undergraduate actuarial adviser)
ECN 3020 - Intermediate Macroeconomics (3) or ECN 3210 - Financial Markets and Economy (3)
ECN 3500 - Insurance and Risk Management (3)
ECN 4050 - Econometrics (3)
EGR 1400 - Computer Problem Solving in Engineering and Computer Science (4)
MIS 3140 - Business Database Systems (3)
MIS 4460 - Business Analytics (3)
APM 2559 - Introduction to Differential Equations (4) or APM 4334 - Applied Numerical Methods: Matrix Methods (4) or STA 4225 - Stochastic Processes I
ACS 4550 - Financial Mathematics (3)
ACS 4660 - Financial Economics (3) or FIN 4250 - Financial Derivatives (3)
ACS 3990 - ACHIEVE III Actuarial Sciences (0)

Additional requirements

Students must complete the core program and the requirements of one of the business majors in the SBA with a minimum grade of C in each of the pre-core, core and major courses. Once admitted to the business program as a pre-business or undecided business student or major, a student must complete all of the remaining business core, major and business minor coursework for the degree at Oakland University.

Students must complete least 31 credits must be in courses offered by the School of Business Administration, excluding ECN 1500, ECN 2000 or ECN 2020, ECN 2010, ECN 2100 and QMM 2400 and QMM 2410. Of these 31 credits, at least 12 credits must be in the student’s major.

Certificates of additional majors are permitted in all areas except general management. No more than four credits of independent study (4996) courses may be used to meet the major elective requirement. Courses numbered 3800 and 4900 may be repeated for up to eight credits provided the topics are different. All major courses require a 2.6 GPA or better or major standing to take these courses (excludes Economics and non-SBA major courses).