Program Overview

Introduction to Actuarial Mathematics BSc (Hons)

The Actuarial Mathematics BSc (Hons) program at the University of Liverpool is designed to provide students with a comprehensive understanding of mathematical models and their application in solving financial problems under uncertainty. This program is ideal for students who wish to pursue a career in the insurance, financial, or governmental services sectors, where actuarial mathematics plays a crucial role.

Program Structure

The program is a full-time, three-year course that starts in September. The course content is divided into three years, with each year building on the previous one to provide a solid foundation in actuarial mathematics.

Year One

In the first year, students take compulsory modules that cover economic principles, algebra, calculus, statistics, mathematical IT skills, and finance. These modules include:

• ECON127: Economic Principles for Business and Markets
• MATH101: Calculus I
• MATH103: Introduction to Linear Algebra
• MATH111: Mathematical IT Skills
• MATH102: Calculus II
• MATH163: Introduction to Statistics Using R
• MATH167: Theory of Interest
• ACFI113: Principles of Finance

Year Two

In the second year, students take compulsory modules and choose optional modules. The compulsory modules include:

• ACFI290: Financial Reporting and Finance (Non-Specialist)
• ECON210: Principles of Economics 2
• MATH253: Statistics and Probability I
• MATH273: Life Insurance Mathematics I
• MATH262: Financial Mathematics
• MATH254: Statistics and Probability II

Optional modules in Year Two include:

• MATH221: Differential Equations
• MATH242: Metric Spaces and Calculus
• MATH269: Operational Research: Linear and Convex Methods
• ULMS254: Becoming Entrepreneurial
• MATH226: Numerical Methods

Year Three

In the third year, students take compulsory modules and can choose one optional module. The compulsory modules include:

• MATH362: Applied Probability
• MATH373: Life Insurance Mathematics II
• MATH375: Stochastic Modelling in Insurance and Finance
• MATH366: Mathematical Risk Theory
• MATH374: Statistical Methods in Insurance and Finance
• MATH376: Actuarial Models
• MATH377: Financial Computing in R

Optional modules in Year Three include:

• MATH360: Applied Stochastic Models
• MATH323: Further Methods of Applied Mathematics
• MATH391: Maths Summer Industrial Research Project

Accreditation

The program is accredited by the Institute and Faculty of Actuaries, the professional body for actuaries in the UK. Students can receive exemptions for certain professional actuarial exams upon completion of specific modules.

Teaching and Assessment

The program is taught through a blend of lectures, tutorials, practical classes, video content, interactive learning sessions, independent study, and supervised project work. Assessment methods vary by module but may include traditional written exams, class tests, assignments, projects, group work, or online exercises.

Careers and Employability

Graduates of the Actuarial Mathematics BSc (Hons) program are well-equipped to pursue careers in a wide range of fields, including data science and analytics, engineering and technology, operations research and logistics, healthcare and biostatistics, and finance. The program's focus on analytical and critical thinking skills makes graduates highly valued by employers.

Fees and Funding

Tuition fees for the program vary depending on the student's residency status. For the academic year 2026/27, UK fees are ｣9,790 per year, while international fees are ｣29,500 per year. The university offers various scholarships and bursaries to help students fund their studies.

Entry Requirements

Applicants must meet specific entry requirements, which include A-level grades, GCSE requirements, and English language proficiency. International students may have different requirements based on their country of origin.

Conclusion

The Actuarial Mathematics BSc (Hons) program at the University of Liverpool provides students with a comprehensive education in mathematical models and their application in financial problem-solving. With its strong accreditation, diverse curriculum, and excellent career prospects, this program is an ideal choice for students interested in pursuing a career in actuarial mathematics or related fields.