Actuarial Science (BS)
Learn to solve problems involving risk
Actuaries analyze the financial consequences of risk and uncertainty. As an actuarial science major at DePaul, you will learn to interpret statistics to determine probabilities of accidents, sickness, death and the loss of property from theft and natural disasters.
Actuarial science students draw upon mathematics, statistics and financial theory to learn to do the following:
- Apply the laws of probability and statistics to problems
- Understand the theory of interest and its applications to the pricing of securities
- Calculate the financial costs and benefits of insurance for various individuals
- Design, implement and monitor life contingency models
- Describe risk management frameworks and identify how specific risks can be quantified
- Study uncertain future events, concerning risk management and insurance
Classes
Coursework
- Actuarial Science
- Applied Regression Analysis
- Mathematical Finance
- Multivariable Calculus
- Principles of Risk and Insurance
- Probability and Statistics
- Risk Management
Resources
Career Options
Common Career Areas
- Actuary
- Assessor
- Education
- Cost estimator
- Credit analyst
- Insurance underwriter
93%
of Actuarial Science graduates were employed, continuing their education or not seeking employment after graduation.
Major Requirements
We offer courses that will help you prepare for the actuarial exams offered by the Society of Actuaries and the Casualty Actuarial Society. These courses include Probability and Statistics I & II (P Exam), Theory of Interest (FM Exam), Mathematics for Finance (IFM Exam), Loss Models I & II (STAM Exam), Life Contingencies I & II (LTAM Exam), and Applied Regression Analysis and Applied Time Series & Forecasting (SRM Exam). We also offer courses that will allow you to satisfy other requirements in the actuarial credentialing process.
Students are advised to talk with their advisor before double majoring, because some major combinations are prohibited. No more than 50% of the credits that apply to one major may be drawn from another major.
Major Requirements
Course Requirements
Course | Title | Quarter Hours |
---|---|---|
Core Courses | ||
Select one of the following Calculus sequences: | ||
Sequence One |
||
MAT 150 |
CALCULUS I | |
MAT 151 |
CALCULUS II | |
MAT 152 |
CALCULUS III | |
Sequence Two |
||
MAT 147 |
CALCULUS WITH INTEGRATED PRECALCULUS I | |
MAT 148 |
CALCULUS WITH INTEGRATED PRECALCULUS II | |
MAT 149 |
CALCULUS WITH INTEGRATED PRECALCULUS III | |
Sequence Three 1 |
||
MAT 155 |
SUMMER CALCULUS I | |
MAT 156 |
SUMMER CALCULUS II | |
ACC 101 | INTRODUCTION TO ACCOUNTING I | 4 |
ACC 102 | INTRODUCTION TO ACCOUNTING II | 4 |
BLW 201 | LEGAL & ETHICAL ASPECTS IN THE BUSINESS ENVIRONMENT | 4 |
ECO 105 | PRINCIPLES OF MICROECONOMICS | 4 |
ECO 106 | PRINCIPLES OF MACROECONOMICS | 4 |
MAT 260 | MULTIVARIABLE CALCULUS I | 4 |
MAT 262 | LINEAR ALGEBRA | 4 |
MAT 351 | PROBABILITY AND STATISTICS I | 4 |
MAT 352 | PROBABILITY AND STATISTICS II (Covers topics relevant to the P Exam) | 4 |
MAT 353 | PROBABILITY AND STATISTICS III | 4 |
MAT 361 | THEORY OF INTEREST | 4 |
MAT 368 | MATHEMATICS FOR FINANCE | 4 |
or MAT 369 | ACTUARIAL SCIENCE SEMINAR | |
FIN 251 | CAREER MANAGEMENT IN ACTUARIAL SCIENCE | 0 |
FIN 310 | INTRODUCTION TO FINANCE | 4 |
FIN 365 | PRINCIPLES OF RISK & INSURANCE | 4 |
ICS 392 | SENIOR SEMINAR (Liberal Studies Program Capstone) | 4 |
Data Analysis Requirements | ||
CSC 241 | INTRODUCTION TO COMPUTER SCIENCE I | 4 |
MAT 341 | STATISTICAL METHODS USING SAS | 4 |
?Actuarial Mathematics Major Electives | ||
Select one of the following two-course sequences: | 8 | |
MAT 362 |
LIFE CONTINGENCIES I and LIFE CONTINGENCIES II |
|
MAT 362 |
LIFE CONTINGENCIES I and LOSS MODELS I |
|
MAT 364 |
LOSS MODELS I and LOSS MODELS II |
|
Actuarial Statistics Major Electives | ||
Select three of the following: | 12 | |
MAT 350 |
BAYESIAN STATISTICS | |
MAT 355 |
STOCHASTIC PROCESSES | |
MAT 356 |
APPLIED REGRESSION ANALYSIS | |
MAT 358 |
APPLIED TIME SERIES AND FORECASTING | |
MAT 359 |
SIMULATION MODELS AND MONTE CARLO METHOD | |
MAT 360 |
GENERALIZED LINEAR MODELS | |
DSC 323 |
DATA ANALYSIS AND REGRESSION | |
DSC 324 |
ADVANCED DATA ANALYSIS | |
DSC 341 |
FOUNDATIONS OF DATA SCIENCE |
1 |
This Calculus sequence is offered only during the summer, in two 6-credit hour courses. Students successfully completing MAT 131, MAT 147, MAT 150 or MAT 160 should enroll in MAT 155; students who successfully complete MAT 148, MAT 151 or MAT 161 should enroll in MAT 156. Students who successfully complete MAT 155 may enroll in either MAT 151 or MAT 156. |
Open Electives
Open elective credit also is required to meet the minimum graduation requirement of 192 hours.
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