Mathematics, Actuarial Program

The Actuarial Science Program at University of Michigan - Flint is designated an "Undergraduate-Introductory" actuarial science program by the Society of Actuaries. It is designed for the student who wishes to pursue a career as an actuary, a career which requires strong mathematical skills as well as training in business-related areas. Actuaries work for insurance companies, financial planning agencies, governmental agencies, and other organizations to assist them in planning for the future using statistical and other mathematical techniques.

Actuaries advance in their careers by passing examinations offered by the two American actuarial societies, the Society of Actuaries and the Casualty Actuarial Society. The courses required for this degree cover much of the material on the first two examinations of these two organizations. It is often possible for students to take an examination prior to graduation.

The actuarial program in the UM - Flint mathematics department is headed by professors Dr. Kenneth Schilling and Dr. Lixing Han.  A sample four-year course layout can be found here, and further program requirements can be found by clicking the bar below.

Actuarial Program Requirements

Actuarial Mathematics Program (BS)

Mathematics Department information  

This program is designated as an “Undergraduate-Introductory” actuarial science program by the Society of Actuaries. It is designed for the student who wishes to pursue a career as an actuary, a career which requires strong mathematical skills as well as training in business-related areas. Actuaries work for insurance companies, financial planning agencies, governmental agencies, and other organizations to assist them in planning for the future using statistical and other mathematical techniques.

Actuaries advance in their careers by passing examinations offered by the two American actuarial societies, the Society of Actuaries and the Casualty Actuarial Society. The courses required for this degree cover much of the material on the first two examinations of these two organizations. It is often possible for students to take an examination prior to graduation.

Requirements


Completion of 124 credits, including:

A. Foundational Mathematics (18 credits)


  • MTH 121 - Calculus I (4)
  • MTH 122 - Calculus II (4).
  • MTH 200 - Mathematical Proofs and Structures (3).
  • MTH 220 - Elementary Linear Algebra (3).
  • MTH 222 - Multivariate Calculus (4).

B. Advanced Mathematics (22-23 credits)


  • MTH 372 - Probability (3).
  •  

  • One from:

  • MTH 374 - Introduction to Numerical Analysis (3).
  • MTH 377 - Methods of Operations Research (3).
  •  

  • MTH 375 - Mathematical Statistics (3).
  • MTH 378 - Theory of Interest (3).
  • MTH 380 - Financial Derivatives (3).
  • MTH 393 - Actuarial Exam Preparation Seminar (1).
  • MTH 402 - Mathematics Capstone Course (3)
  •  

  • At least one other MTH course numbered 300 or higher, excluding:
  • MTH 390 - Problem-Solving Seminar (1).
  • MTH 391 - Directed Study
  • MTH 395 - Mathematics Instructional Practicum (1-2).

C. Finance and Accounting (9 credits)


  • ACC 201 - Principles of Financial Accounting (3)
  • ACC 202 - Principles of Managerial Accounting (3).
  • FIN 361 - Financial Management (3).

D. Computer Science


  • CSC 175 - Problem Solving and Programming I (4)
  • and any necessary prerequisites.

E. Economics (12 credits)


  • ECN 201 - Principles of Economics (Macroeconomics) (3)
  • ECN 202 - Principles of Economics (Microeconomics) (3)
  • ECN 315 - Intermediate Microeconomic Theory (3).
  • ECN 354 - Intermediate Macroeconomic Theory (3).

F. Also recommended:


  • FIN 363 - Investments (3).
  • FIN 463 - Financial Engineering and Risk Management (3).
  • Knowledge of Excel
  • A minor in Computer Science  or Business (Finance) .

G. Additional Requirements


All requirements of the College of Arts and Sciences (CAS) Bachelor of Science  degree, including General Eduation Requirements , and all University of Michigan-Flint graduation requirements .


Minimum Credits For the Degree: 124 credits



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