Program Overview

MSc Actuarial Science

The MSc Actuarial Science course is designed for those with a first degree in mathematics, statistics, economics, or finance looking to acquire knowledge in actuarial science. This course is taught by the School of Mathematics, Statistics, and Actuarial Science and is based on the syllabus of the majority of the core subjects of the Institute and Faculty of Actuaries.

Overview

• The course covers the following subjects: CB1 (Business Finance), CM2 (Financial Engineering and Loss Reserving), and CS2 (Risk Modelling and Survival Analysis).
• Students gain solid training in actuarial modelling and actuarial analysis.
• The course allows specialization in topics such as actuarial and financial modelling, general insurance, and life insurance.
• A Master's thesis project on a subject chosen by the student or their supervisor is also part of the course.

Our Expert Staff

• Many academics have won national or regional awards for lecturing and are qualified and accredited teachers.
• Course teachers are expert academics conducting internationally excellent multidisciplinary research with significant experience in consulting and practising actuarial science.
• Key actuarial science staff include Professor Spyridon Vrontos, Dr Junlei Hu, Dr Peng Liu, and Dr Jackie Wong, specializing in various areas of actuarial science.

Specialist Facilities

• The Maths Support Centre offers help to students, staff, and local businesses on mathematical problems.
• Computer labs are available for the exclusive use of students in the School of Mathematics, Statistics, and Actuarial Science.
• Events and seminars are hosted throughout the year.

Your Future

• Graduates are expected to become actuaries in a range of industries, with the US Department of Labor predicting faster-than-average growth in actuary employment.
• Clear thinkers are required in every profession, providing extensive career choices for successful mathematicians.
• The University works with the Employability and Careers Centre to help students find work experience, internships, placements, and voluntary opportunities.

Entry Requirements

UK Entry Requirements

• A 2:2 degree or international equivalent in subjects such as Applied Mathematics, Biostatistics, Computer Science, Economic Statistics, Economics, Mathematics, Operational Research, Pure Mathematics, or Statistics.
• Alternatively, any 2:2 degree with three specific modules from listed categories.

International & EU Entry Requirements

• The University accepts a wide range of qualifications from EU and other countries.
• Applicants should contact the University with questions about accepted qualifications.

English Language Requirements

• IELTS 6.0 overall with a minimum component score of 5.5 in all components.
• Alternatively, completion of a pre-sessional English pathway.

Structure

Course Structure

• The course is research-led and evolving to address the latest challenges and breakthroughs in the field.
• Modules may change in response to new curriculum developments and innovation.

Components and Modules

• Components are blocks of study making up the course, each with a status and carrying credits towards the qualification.
• Modules are individual units of study with their own learning outcomes and assessment criteria.

Year 1

• COMPONENT 01: CORE WITH OPTIONS - MA981-7-FY or MA983-7-SU (60 credits)
• COMPONENT 02: COMPULSORY - Bayesian and Computational Statistics (15 credits)
• COMPONENT 03: COMPULSORY - Contingencies I (15 credits)
• COMPONENT 04: COMPULSORY - Statistical Methods (15 credits)
• COMPONENT 05: COMPULSORY - Stochastic Processes (15 credits)
• COMPONENT 06: COMPULSORY - Financial Derivatives (15 credits)
• COMPONENT 07: COMPULSORY - Survival Analysis (15 credits)
• COMPONENT 08: COMPULSORY - Mathematics of Portfolios (15 credits)
• COMPONENT 09: COMPULSORY WITH OPTIONS - MA211-7-SP or MA312-7-SP or MA226-7-AU (15 credits)
• COMPONENT 10: COMPULSORY - Research Skills and Employability (0 credits)

Teaching

• Postgraduate taught students typically attend two hours of lectures and one class or lab every week.
• Core components can be combined with optional modules for in-depth specialization or broad understanding.

Assessment

• Courses are assessed on written examinations and continual assessments of practical work and coursework.

Dissertation

• Students are provided with a list of dissertation titles or topics proposed by staff.
• Dissertations are between 10,000 and 30,000 words in length, with close supervision by academic staff.

Fees and Funding

Home/UK Fee

• ｣11,025

International Fee

• ｣23,875

Scholarships and Financial Support

• There may be scholarships, bursaries, or discounts available to help with the cost of the course.

What's Next

• Open Days are held for applicants throughout the year, offering campus tours, accommodation views, and the chance to meet students and staff.
• Applying for the course can be done online, with responses to applications typically within two weeks.
• Visit the Colchester Campus, set within 200 acres of award-winning parkland, or explore the campus through a 360-degree virtual tour.