Program Overview

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Introduction to Mathematics and Actuarial Science BSc

The Mathematics and Actuarial Science BSc is a 3-4 year program that focuses on the study of risk and uncertainty, typically of a financial and long-term nature. Actuaries use their mathematical skills to help businesses and organizations make better financial decisions, making it a high-stakes yet exciting career.

Course Description

Actuarial science is a field that combines mathematics, statistics, and financial theory to assess and manage risk. The program introduces students to the world of an actuary, allowing them to build technical mathematical skills, develop business understanding, and become ready to join the industry. Students will become comfortable with data and its manipulation, studying core modules on data science and artificial intelligence. They will also develop great team working skills and persuasive communication techniques.

Entry Requirements

• A/AS-levels: AAB-ABB including Maths. Two AS-levels considered in place of one A-level.
  • EPQ with A-levels: ABB-BBB + EPQ at grade B. A-level subjects to include Maths.
• Access to HE Diploma: Pass Diploma with a minimum of 45 credits at level 3, 30 of which must be at Distinction. Plus A-level Maths at grade A-B.
• International Baccalaureate: Pass Diploma with 30 points including grade 5 in HL Maths.
• BTEC Nationals: Pass Extended Diploma with DDM, plus grade B in A-level Maths. BTEC not accepted by itself.
• Other official national and international qualifications considered from across the world.

Flexible Entry Requirements

The university welcomes applications from motivated students whose predicted grades are slightly below the standard entry requirements. Contextual offers are also made to support students who may be impacted by their background or personal circumstances.

Selection Process

When considering an application, the university looks for evidence that the student will be able to fulfill the objectives of the course and achieve the required standards. A range of factors are taken into account, including previous exam results. Applicants are not normally interviewed.

English Language Requirements

IELTS 6.0 or equivalent. If the first language is not English, evidence of English language ability may be required.

Fees and Funding

• UK Students: Ł9,790 in the first year, subject to Parliamentary approval. Fees are expected to rise for each subsequent year of study.
• International Students: Ł25,100 per year. A deposit is required to secure a place, which will be subtracted from the total tuition fee.
• Additional costs: A Casio FX83GT calculator (approximately Ł6) is required.

Accreditation

The BSc in Mathematics and Actuarial Science can lead to exemptions from the first tier Core Principles exams of the Institute and Faculty of Actuaries. By extending studies to the MMath, students can gain further exemptions from the Core Practice exams.

Careers and Employability

Graduates will be well-placed to work in insurance, pensions, healthcare, banking, business management, and risk assessment. They will be equipped with mathematical and statistical knowledge and problem-solving skills to help businesses evaluate long-term financial implications of their decisions. The university supports employability through dedicated advisers, weekly employability sessions, and regular Actuarial Society events.

Sustainable Development Goals

The degree includes learning that relates to several UN Sustainable Development Goals, including Quality Education, Decent Work and Economic Growth, Industry, Innovation and Infrastructure, and Partnerships for the Goals.

Course Structure

The program is structured over three years, with an optional year in industry.

• Year 1: Modules include Calculus and Analysis, Linear Algebra, Fundamentals of University Mathematics, Probability and Statistics, and Business Microeconomics.
• Year 2: Modules include Actuarial Modelling, AI for Data Science, Statistical Distributions and Inference, Actuarial Professional Skills and Employability, and Business Finance.
• Year in Industry (optional): Students can take a year out to work in an industrial placement, gaining first-hand experience and enhancing employability skills.
• Year 3: Core modules include Actuarial Mathematics Project, Financial Engineering, Liability Modelling, and Markov Processes. Option modules are also available.

Teaching and Learning

The course is taught using a variety of methods, including computer classes, problem classes, skills sessions, and lectures. Assessment is via coursework, computational exercises, projects, and written exams. Independent learning is expected, with support available from the Library and social study spaces.

Academic Support

The Centre for Academic Achievement provides help with study and exam skills, academic writing, presentations, and numerical data skills. The AccessAbility Centre offers support for students with dyslexia or other specific learning difficulties.

Teaching Staff

Students are taught by an experienced team whose expertise matches the content of the modules. PhD research students may also contribute to teaching under supervision. Teaching is informed by the research conducted by the staff.