Actuarial Science Program | Mathematics Major | Concordia University Irvine

Actuarial Science Program

School of Arts and Sciences

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The Actuarial Science Program is designed to assist students who have an interest in pursuing a career as an actuary with planning their coursework, arranging internships, and preparing for the Society of Actuaries preliminary examinations (Exam P: Probability and Exam FM: Financial Mathematics). The Society of Actuaries does not require a specific undergraduate major as a prerequisite for taking exams, but most encourage emphasis in the mathematics, finance and business coursework. Students who enter the Actuarial Science Program at Concordia University will take courses most appropriate for preparing for the first two exams as well as preparing for a career in actuarial science. Additional courses (including some which will be validated by educational experience by the SOA) and a major should be selected based on student interest and career goals.

Program Requirements

  1. General Education (54-55 Units)
    • Normally completed during the first two (2) years of attendance.
  2. Major Requirements
    • Completion of any approved major, typically a mathematics major with a selection of business and economics courses.
  3. Program Requirements
    • Students should select courses from a variety of fields (including finance, economics and mathematics) that will best prepare them for their first Preliminary Examination (Exam P or Exam FM) by the Society of Actuaries toward the end of their sophomore or junior year.
  4. Recommended Courses
  • Recommended Courses
  • MTH 371: Linear Algebra
  • 3
Includes the study of matrices, determinants, vector spaces, inner products, linear transformations, eigenvectors and others. Problem solving includes the use of matrices, linear programming, difference equations and other techniques from discrete mathematics. Prerequisite: MTH 373 or approval of instructor.
  • MTH 387: Theory of Probability
  • 3
Probability and combinatorics; discrete and continuous random variables; the normal, gamma, Chi-square, Poisson and binomial distributions with applications. Prerequisite: MTH 373 or approval of instructor.
  • MTH 388: Mathematical Statistics
  • 3
A continuation of MTH 387, this course covers various multivariate probability distributions, bias and unbiased estimators, Least Square estimation, ANOVA and Block Designs, a revisit of hypothesis testing and a study of nonparametric statistics. Prerequisite: MTH 387.
  • ECO 201: Macroeconomics
  • 3
A survey course of the scope and methods of the study of economics; the principles underlying the production, exchange, distribution and consumption of wealth; various economic problems. The systematic investigation of the market structure of American capitalism, encompassing the production and distribution of income, welfare economics and current domestic problems.
  • ECO 202: Microeconomics
  • 3
An introductory course to specific aspects of the economy such as households, firms, and markets, including the investigation of supply and demand in the product market, the perfectly competitive market, monopoly and imperfect competition, and the role of government in private economy. Emphasis will be given to Economic challenges of the future.
  • ECO 321: Quantitative Economic Techniques
  • 3
This course teaches descriptive statistics, probability, random variables and their distributions, sampling, statistical inference including confidence interval estimation, hypothesis testing, game theory, and regression analysis. Prerequisites: ECO 201, 202 and MTH 221.
  • ECO 323: Money and Financial Markets
  • 3
This course is an overview of financial markets and institutions, including stock and bond markets, money markets, derivatives, financial intermediaries, monetary policy, and international currency markets. Prerequisite: ECO 201.
  • FIN 331: Finance
  • 3
An introductory course to the principles and practices of managerial finance, sources and methods of raising capital, cash flow analysis, financial statement analysis, financial markets, and stockholder equity concerns. Additional concepts will include decision making with risk and use of operating and financial leverage. Prerequisites: General education math requirements and ACT 212.
  • FIN 333: Investments
  • 3
Building upon BUS 331, this course helps students learn more about the strategic deployment of equities, debt instruments, derivative instruments and diversification with appropriate levels of risk, time horizon, collateralization and active investment portfolio management. Prerequisite: FIN 331

Current students, please note: The requirements listed here may not reflect the most current courses for this major and may not be the requirements for the catalog year you are following to complete your major. Please refer to the Academic Catalog for official requirements you must meet to qualify for a degree.

 

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