MSc Actuarial Science - Actuarial Science Degree
Program start date | Application deadline |
2024-10-01 | - |
2025-10-01 | - |
Program Overview
The MSc Actuarial Science program at the University of Essex provides specialized knowledge in actuarial science, covering core subjects required for actuarial certification. With a focus on research and modeling, students develop strong analytical and problem-solving skills. They can specialize in areas such as actuarial and financial modeling, general insurance, or life insurance, and complete a thesis project on a topic of their choice. Graduates are well-prepared for careers as actuaries in various industries, where there is a high demand for these professionals.
Program Outline
Degree Overview:
The MSc Actuarial Science course at the University of Essex is designed for students with a first degree in mathematics, statistics, economics, or finance who wish to acquire knowledge in actuarial science. The program is based on the syllabus of the majority of the core subjects of the Institute and Faculty of Actuaries, covering topics such as Business Finance, Financial Engineering and Loss Reserving, and Risk Modelling and Survival Analysis. The focus on up-to-date research findings in actuarial methodologies and actuarial applications provides students with a solid training in actuarial modelling and analysis. Students also have the opportunity to specialize in a topic of choice, with options including Actuarial and financial modelling, General insurance, and Life insurance. Additionally, students will have the chance to study a problem in depth through a Masters thesis project on a subject chosen by them or their supervisor.
Outline:
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 (15 CREDITS)
Component 10: Compulsory
- Research Skills and Employability (0 CREDITS)
Assessment:
Courses are assessed on the results of written examinations, together with continual assessments of practical work and coursework.
Teaching:
Postgraduate Taught students in the School of Mathematics, Statistics and Actuarial Science typically attend two hours of lectures and one class/lab every week, but this will vary dependent upon the module. Core components can be combined with optional modules, to enable students to gain either in-depth specialization or a breadth of understanding. Students learn to use LATEX to produce a document as close as possible to what professional mathematicians produce in terms of organization, layout, and type-setting. Postgraduates are encouraged to attend conferences and seminars.
Careers:
Graduates of the MSc Actuarial Science program are expected to become actuaries in a range of industries. It has been predicted by the US Department of Labor that the employment of actuaries is expected to grow faster than any other occupation, making it a great prospect for a graduate job. Aside from a rewarding career as an actuary, clear thinkers are required in every profession, so the successful mathematician has an extensive choice of potential careers.
Other:
- The University of Essex has a renowned Maths Support Centre, which offers help to students, staff, and local businesses on a range of mathematical problems.
- The School of Mathematics, Statistics and Actuarial Science has its own computer labs for the exclusive use of students.
- The School hosts events and seminars throughout the year.
International fee £21,700
University of Essex
Overview:
The University of Essex is a public research university located in Colchester, Essex, England. It is known for its strong academic reputation, particularly in the fields of social sciences, humanities, and law. The university offers a wide range of undergraduate and postgraduate programs, as well as short courses and apprenticeships.
Services Offered:
The university provides a comprehensive range of services to its students, including:
Accommodation:
Guaranteed, affordable accommodation for new undergraduate and postgraduate students.Student Support:
A variety of support services are available to students, including academic advising, career counseling, and mental health support.Careers and Employability:
The university offers resources and programs to help students develop their career skills and find employment.Essex Sport:
A wide range of sports facilities and activities are available to students, including fitness classes, performance sport, and scholarships.Faith:
The university provides support for students of all faiths.Cost of Living Support:
The university offers financial assistance to students who are struggling with the cost of living.Student Life and Campus Experience:
Students at the University of Essex can expect a vibrant and diverse campus experience. The university has a strong sense of community, with a variety of clubs, societies, and events to get involved in. The university also has a beautiful campus, with green spaces, lakes, and modern facilities.
Key Reasons to Study There:
Strong Academic Reputation:
The university is consistently ranked highly in national and international rankings.Excellent Research:
The university is a leading research institution, with a strong focus on innovation and impact.Diverse and Inclusive Community:
The university is committed to creating a welcoming and inclusive environment for all students.Excellent Student Support:
The university provides a wide range of support services to help students succeed.Beautiful Campus:
The university has a beautiful campus, with green spaces, lakes, and modern facilities.Academic Programs:
The University of Essex offers a wide range of academic programs, including:
Undergraduate Programs:
The university offers a wide range of undergraduate programs in the arts, humanities, social sciences, law, business, and science.Postgraduate Programs:
The university offers a wide range of postgraduate programs, including master's degrees, PhDs, and professional qualifications.Short Courses and CPD:
The university offers a variety of short courses and continuing professional development programs.Other:
The university has three campuses: Colchester, Southend, and Loughton. The Colchester campus is the main campus and is located in a beautiful parkland setting. The Southend campus is located on the seafront and offers a more urban experience. The Loughton campus is home to the university's drama school, East 15 Acting School.
The university is also home to a number of research centers and institutes, including the Centre for Research in Entrepreneurship, Innovation and Management (REIMI) and the Human Rights Centre.
Entry Requirements:
UK entry requirements
A 2:2 degree in one of the following subjects:
- Applied Mathematics
- Biostatistics
- Computer Science
- Economic Statistics
- Economics
- Mathematics
- Operational Research
- Pure Mathematics
- Statistics OR Any other 2.2 degree in any subject which includes three modules from the below lists:
- One module, from:
- Advanced Maths (I/II/III)
- Calculus (AKA Mathematical Analysis)
- Engineering Maths (I/II/III)
- Maths (I/II/III)
- And
- One module, from:
- Advanced Maths (I/II/III)
- Engineering Maths (I/II/III)
- Maths (I/II/III)
- Statistics or Probability
- And
- One additional relevant module, from:
- Advanced Maths (I/II/III)
- Algebra
- Analysis
- Complex Numbers
- Differential Equations
- Engineering Maths (I/II/III)
- Maths (I/II/III)
- Numerical Methods
- Optimisation (Linear Programming)
- Programming Language (R or Matlab or Python)
- Regression
- Another module in Probability or Statistics
- Stochastic Process Applicants with a degree below 2:2 or equivalent will be considered dependent on any relevant professional or voluntary experience and previous modules studied.
International & EU entry requirements
We accept a wide range of qualifications from applicants studying in the EU and other countries. Get in touch with any questions you may have about the qualifications we accept. Remember to tell us about the qualifications you have already completed or are currently taking.
Language Proficiency Requirements:
If English is not your first language, we require IELTS 6.0 overall with a minimum component score of 5.5 in all components. If you do not meet our IELTS requirements then you may be able to complete a pre-sessional English pathway that enables you to start your course without retaking IELTS.