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

• Major Requirements
• Schedule of Classes
• Department Website

• Combined bachelor's + master's degree offered

Career Options

Common Career Areas

• Actuary
• Assessor
• Education
• Cost estimator
• Credit analyst
• Insurance underwriter

More career info

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 & MAT 363	LIFE CONTINGENCIES I and LIFE CONTINGENCIES II
MAT 362 & MAT 364	LIFE CONTINGENCIES I and LOSS MODELS I
MAT 364 & MAT 365	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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