Actuarial Mathematics

Program Overview

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Actuarial Mathematics

Overview

Actuarial Mathematics could be the perfect course for you. It’s accredited by the Institute and Faculty of Actuaries, UK, meaning you may be exempt from some of the exams needed to qualify as an actuary in Ireland and the UK.

Before you embark on learning essential actuarial knowledge and theories, you’ll be given solid mathematical training. In your first two years, you’ll study the fundamental mathematical principles that underpin the actuarial and financial models covered in later years. You’ll also study computer programming, economics and accounting.

Preparing for the real world

In third and fourth year, you’ll apply sophisticated mathematical techniques to real-world problems in insurance, finance and banking. During the course, you’ll also come to understand the actuarial and financial industry, and gain the state-of-the-art skills and techniques needed to work in it.

In third year, you’ll do an eight-month paid INTRA placement in the actuarial or financial industry. This could be in a large insurance company, an actuarial consultancy, an investment bank or a trading house. Once you graduate, you’ll find rewarding employment as an actuary, working in financial services or as a data scientist.

Careers & Further Options

Careers

The BSc in Actuarial Mathematics provides an excellent start to a career as an actuary or in finance.

Students who perform sufficiently well on the degree may be exempt from some or all of the Core Principles examinations (CS1, CS2, CM1, CM2, CB1, CB2) of the Institute and Faculty of Actuaries, UK and can, therefore, significantly reduce the time taken to qualify as an actuary.

The Actuarial Profession is a global profession with opportunities internationally in America, Asia, India, Africa and Australia.

Graduates are also well placed to undertake further studies and research in actuarial science, mathematics, financial mathematics, economics and finance.

Graduates can look forward to a rewarding and varied career with opportunities in all areas of the actuarial profession as well as certain areas of business and finance.

Career Prospects

• Actuary
• Actuarial Consultancy
• Risk Management
• Investments
• Insurance
• Pensions
• Finance Analyst
• Pricing Analyst

Entry Requirements

Leaving Cert

In addition to the general entry requirements for admission to the university the following entry requirements apply

• Minimum of H3 in Mathematics

GCE A Level

In addition to the general entry requirements for admission to the university the following entry requirements apply

• GCE A Level B Mathematics

FET Level 5

No Entry Path

Mature Applicants

Mature entry is a competitive process. Applicants must demonstrate:

• a genuine interest in the programme(s) they are applying for
• academic experience and competency in their chosen field of study
• an ability to engage and succeed on the programme

All applicants must complete a statement of interest to be considered for the mature application route.

For further guidance on the mature application process please see the CAO Website

Advanced Entry

Applicants that have completed at least one year of study at NFQ Level 6, 7 or 8 at another institution may apply to continue their studies on a similar programme at DCU. There should be substantial overlap in content between the two programmes to be considered for a transfer. Results and other supporting documentation must be submitted to CAO by the closing date of 1st July. This is a competitive application process for a small quota of advanced entry places. Offers are made on a rolling basis until all places are filled. Early application is advised. Please note: Applicants should also consider applying through the appropriate route for first year entry to the programme they are interested in. This application process is only for advanced entry.

Additional Criteria

Certified qualifications that cover all or most modules in Year 1 of our programme are essential for admission to the second year. Solid mathematical skills at university level must be demonstrated for consideration for advanced entry.

Accreditation

This programme is accredited by the Institute and Faculty of Actuaries (IFoA), UK, meaning you may be exempt from some of the IFoA subjects needed to qualify as an actuary in Ireland and the UK. Students who are admitted to via advanced entry may miss essential modules associated with exemption from IFoA subjects, causing their ineligibility to gain these exemptions.

International Applications

International candidates are expected to have educational qualifications of a standard equivalent to those outlined above. In addition, where such candidates are non-native speakers of the English language they must satisfy the university of their competency in the English language. For further information on international applications click here.

Course Structure

Year 1

• Mathematical Analysis
• Probability
• Computing for Mathematics
• Linear Mathematics
• Microeconomics
• Sequences and Series
• Calculus
• Macroeconomics
• Financial Modelling with Excel

Year 2

• Statistics
• Calculus
• Linear Algebra
• Numerical Methods
• Analysis
• Differential Equations
• Probability
• Accounting

Year 3

• Actuarial Modelling
• Stochastic Modelling
• Financial Mathematics
• Accounting
• Financial and Actuarial Models
• INTRA

Year 4

• Life Contingencies
• Financial Economics
• Time Series
• Simulation for Finance
• Deep Learning
• Probability and Finance
• Stochastic Finance
• Optimisation

Fees and Funding

Fees

• Full time
  • Student Contribution: €3,043 per annum
  • EU Status Fee: €6,250 per annum
  • Non EU Fee: €16,400 per annum

How To Apply

Applicants presenting EU school leaving examinations (EU, EFTA & UK)

• Apply through the Central Applications Office (CAO) by 1st February or 1st May

Applicants presenting examinations from outside the EU

• To apply for this programme: Candidates should apply directly here. Here's a quick step by step guide if you need help with your application.
• Please provide:
  • Academic Transcripts for each and every year of study with English translation, if applicable.
  • If applicable, provide evidence of competence in the English language as per DCU entry requirements.

Mature Applicants

• All mature applicants apply through the CAO by 1st February. For further information and for special application procedures for mature students, please click here

Advanced Entry

• EU Applications are made via the CAO Advanced Entry route which opens on 5th November until 1st July.

Life On Campus

Life on Campus

At DCU, our students can expect a unique campus experience. We are known for our excellent teaching and learning facilities, our active clubs and societies, and our great social and sporting facilities. All this makes DCU an exciting place to be.

DCU has three academic campuses; Glasnevin, St. Patrick’s and All Hallows (both in Drumcondra), all close to Dublin City centre.

• They can be reached by public transport, Dublin Bus and Bus Éireann, with our Drumcondra campuses a ten minute walk from Drumcondra Train Station. Glasnevin is a 20 minute walk from St Patrick’s and All Hallows. They are also linked by Dublin Bus.

Each campus has a library (O’Reilly, Cregan and Woodlock Hall), study spaces, restaurants, and on-campus residencies. There are sports facilities on Glasnevin and St. Patrick’s, and there is a dedicated sports campus, St Claire’s, located near Glasnevin on the Ballymun Road.

Exceptional Facilities

• DCU’s 19,000 students have access to exceptional teaching and learning facilities across our three academic campuses.
• These include modern learning theatres, research centres, a new media and TV studio, radio/podcast studios, computer suites and advanced labs in the areas of Languages, Engineering, Physics, Chemistry and Biotechnology, as well as a Sports Performance centre and a training hospital ward. In 2021, we opened our first virtual reality ‘Leadership Lab’, which is located in our Business School.

We continue to improve and update our facilities. For example, construction of a new world-class STEM facility is underway on the Glasnevin campus. With capacity for an extra 3,000 STEM students, this facility will advance DCU’s international reputation for excellence in science and health, computing and engineering disciplines.

Campus Life

• Studying in DCU isn’t just about course work. The university is rich in student life and activities.
• There are more than 140 clubs and societies for students in DCU, with ‘Clubs & Socs’ days taking place on both the Glasnevin and Drumcondra campuses at the start of the academic year. They span everything from rugby to rock climbing, anime to jazz.

For many students, sport is an important part of the DCU experience. DCU’s Sports Complex boasts a 25 metre swimming pool, fitness centre gym, all-weather pitches and squash courts, as well as soccer, GAA and rugby pitches. DCU Dóchas Éireann, the university’s GAA club, is the largest third level Gaelic Games club in the country. Meanwhile, DCU Athletics has been Ireland’s highest achieving university club for many years. And DCU has dozens of other clubs to get involved in, from Archery to Weightlifting.

The Glasnevin campus is home to our purpose built, state-of-the-art student centre, The U, which serves the needs of a rapidly growing student body. Here, you will find the Student Leadership and Lifeskills Centre, performing arts and cultural spaces for students and the wider community, and the Entrepreneurship and Innovation Hub. Also located on our Glasnevin campus is The Helix, our renowned performing arts centre.

On our St Patrick’s campus, we have the Java Student Hub, a vibrant, warm and welcoming space where students can meet for coffee, play music, use the projector to watch events, or just relax. The walls of the Java Hub were designed based on the cultural history of St Patrick’s Campus, including the special references to the notable sporting history and history of the arts.

Accommodation

• Information about accommodation each of our three campuses can be accessed here.

Student Supports

• We have a number of academic, professional and social supports for students.
• Student Advice & Learning Skills Centre - Offers a wide range of supports and services to students and advice
• The Writing Centre - drop-in writing workshops for students through the academic year
• Maths Learning Centre - provides maths support for students of all ability levels with maths modules
• Student Learning - facilitate the transition from passive to active learning for students at DCU, by teaching study skills, nurturing critical thinking and building student confidence.
• work with students to help them on their professional journey into graduate employment.

Our student support team offers a comprehensive support programme, helping students make that all important transition into university life and focusing on building confidence and skills which are key to success at third level.

Program Outline

Actuarial Mathematics at Dublin City University (DCU)

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Degree Overview:

• Actuarial Mathematics at DCU offers a thorough education in the field, preparing students for a career as an actuary.
• The program is accredited by the Institute and Faculty of Actuaries (UK), providing potential exemptions from some of the required exams for actuarial qualifications in Ireland and the UK.
• Studies begin with a solid foundation in mathematics, encompassing fundamental principles that underpin later actuarial and financial models.
Additional subjects covered include computer programming, economics, and accounting.
• During the third and fourth years, students apply advanced mathematical techniques to real-world problems in insurance, finance, and banking, gaining expertise and state-of-the-art skills relevant to the industry.
• An eight-month paid internship in the actuarial or financial industry is included in the third year, providing practical experience at major insurance companies, actuarial consultancies, investment banks, or trading houses.
• Graduates are equipped for rewarding careers as actuaries in financial services or data scientists.

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Other:

• 96% of recent graduates in the faculty are employed or in further education.
• DCU ranks No.
1 in Ireland for Graduate Employment Rate.
• 96% of recent graduates in the faculty are employed or in further education.

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Outline:

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Year 1:

• Mathematical Analysis
• Probability
• Computing for Mathematics
• Linear Mathematics
• Microeconomics
• Sequences and Series
• Calculus
• Macroeconomics
• Financial Modelling with Excel

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Year 2:

• Statistics
• Calculus
• Linear Algebra
• Numerical Methods
• Analysis
• Differential Equations
• Probability
• Accounting

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Year 3:

• Actuarial Modelling
• Stochastic Modelling
• Financial Mathematics
• Accounting
• Financial and Actuarial Models
• INTRA (eight-month paid internship)

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Year 4:

• Life Contingencies
• Financial Economics
• Time Series
• Simulation for Finance
• Deep Learning
• Probability and Finance
• Stochastic Finance
• Optimisation

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Assessment:

• Assessments vary depending on the module but may include:
• Examinations (closed and open book)
• Coursework (assignments, projects, research)
• Class participation
• Presentations

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Teaching:

• Teaching methods include:
• Lectures
• Seminars
• Tutorials
• Workshops
• Guest lectures from industry professionals
• The program boasts a diverse team of experienced faculty with strong research records and industry connections.
• A personalized approach is employed, fostering learning and engagement.

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Careers:

• Actuarial Mathematics alumni pursue various careers, including actuary, actuarial consultancy, risk management, investments, insurance, pensions, finance analyst, pricing analyst, and data scientist.
• The program equips graduates for success in these fields by:
• Providing a strong foundation in actuarial science and financial mathematics
• Developing problem-solving skills and analytical thinking
• Enhancing communication and presentation skills
• Offering opportunities to build professional networks and gain practical experience through internships.
• Promoting ethical and professional conduct through industry-recognized actuarial qualifications.

For the most up-to-date and accurate information, please refer to the official DCU Actuarial Mathematics program webpage.

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Tuition Fees and Payment Information:

Full time Student Contribution. €3,043 per annum EU Status Fee €6,250 per annum Non EU Fee. €16,000 per annum