Program Overview

Bachelor of Science in Actuarial and Mathematical Sciences

Program Overview

The Bachelor of Science in Actuarial and Mathematical Sciences program at the University at Albany prepares students for a career in areas including insurance, pension, finance, government, and business. The program focuses on key areas like computer science, statistics, accounting, and economics, giving students the knowledge and confidence to pass the National Actuarial Examinations.

Program of Study

The program of study includes a combined major and minor sequence of 64 credits, consisting of:

Mathematics Courses (37 credits)

• Calculus I or Algebra and Calculus II
• Calculus II
• Calculus of Several Variables
• Linear Algebra
• Introduction to Proofs and corequisite Information Literacy in Mathematics and Statistics
• Theory of Interest
• Probability for Statistics
• Statistics
• Life Contingencies I
• Applied Stochastic Processes
• Applied Statistics

Computer Science Courses (6 credits)

• Introduction to Computer Science
• Data Processing Principles
• Scientific Computing
• Object Oriented Programming for Data Processing Applications
• Data Structures

Business Courses (6 credits)

• Financial Accounting
• Financial Management

Economics Courses (15 credits)

• Principles of Economics I: Microeconomics
• Principles of Economics II: Macroeconomics
• Intermediate Microeconomics
• Intermediate Macroeconomics
• Financial Economics

Honors Program

A student may be admitted formally to the Department’s honors program in actuarial science at any time after the sophomore year. However, any student who is interested in the program should see the Director of the Actuarial Science Program as early as possible for informal advisement concerning the honors thesis.

Accelerated Undergraduate/Graduate Option

Students can save time and money by beginning their graduate degree coursework while still enrolled as an undergraduate student. Up to 12 academic credits, billed at the undergraduate rate, will count towards both degrees – so students will complete their combined program in only 5 years and spend less than they would if they completed each program separately.

Career Outcomes

With a Bachelor of Science in Actuarial and Mathematical Sciences, students will be prepared to work in the actuarial industry or a closely related field such as health insurance, life insurance, property insurance, pension and retirement benefits, and enterprise risk.

Potential Job Titles

• Insurance underwriter
• Budget analyst
• Auditor
• Statistician
• Financial advisor

Student Learning Objectives

• Construct proofs using techniques from logic such as proof by contradiction and/or specific techniques such as the principle of induction.
• Analyze and check correctness of mathematical arguments, and read mathematical text independently.
• Apply an advanced abstract mathematical idea to a concrete real-world problem (e.g., application of differential equations, or linear programming, or RSA or error correction codes).
• Write effectively using language appropriate for mathematical discourse.
• Use calculus to analyze and evaluate properties of real valued functions.
• Use mathematics, statistics, and probability principles for the analysis and quantification of risk of uncertain future events and their potential financial impact.