The actuarial science major is housed with the Mathematics Department of the College of Natural Sciences and prepares students to enter the actuarial profession. Actuaries use mathematical skills to define, analyze, and solve business problems involving the cost of possible future events (i.e. projecting how a new auto-safety law will change insurance claims, estimating the benefit costs of a labor contract, analyzing investment risks, or projecting financial costs of an epidemic.) Actuaries are employed by organizations such as insurance companies, financial institutions, consulting firms, industrial corporations, government agencies, universities, accounting firms, and labor unions.
As a B.S. in Mathematics: Option 1: Actuarial Science major, students take a variety of courses in accounting, micro and macroeconomics, business finance, calculus, matrix algebra, probability, statistics, up to seven Mathematics Department actuarial courses, and one actuarial foundations courses taught by the Mathematics Department. Students who complete these courses and pass at least two exams administered by Societies of Actuaries can compete well for actuarial jobs. For additional information on the career field and becoming an actuary, visit the Be an Actuary and Risk is Opportunity sites.