What Is an Actuarial Science Degree?
An actuary applies mathematical and statistical methods to assess risk in insurance and finance, as well as other related industries. A successful actuary has a deep understanding of a number of interrelated subjects including mathematics, statistics, finance, economics, probability and computer science.
What will I study?
During this degree you will explore the core subjects of mathematics, statistics, probability and economics. You will also learn stochastic models, financial reporting and business, and you will develop your understanding of the roles of mathematical and statistical calculation in financial risk management.
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In the first year you will study mathematics for actuarial science, probability and statistics, finance and investment mathematics and economics. You will also learn about Information Technology, learning to use the program MiniTab – a statistical package, and learning to write VBA code.
The second year focuses on further mathematical concepts such as calculus and linear algebra, stochastic modelling and financial economics. The role of the actuary will be examined and you will be taken on visits to major banks. A focus on careers will introduce you to the many varied career paths you could take with this degree.
The third year teaches survival models, advanced contingencies, statistical modelling and probabilistic modelling. A dissertation will serve as the basis of a final year project, and will encourage the production of independent research.
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