Degree Requirements

The actuarial science major is an interdisciplinary program intended to prepare students for professional examinations and employment as actuaries. Students must complete at least 15 upper-division (numbered 300 and above) credits in the major in residence at UWM. The College requires that students attain at least a 2.5 GPA on all credits in the major attempted at UWM. In addition, students must attain a 2.5 GPA on all major credits attempted, including any transfer work.

In addition to the requirements for the major, students must also satisfy all of the university general education requirements and the College of Letters & Science breadth and other degree requirements. Degree requirements will vary depending on when you took your first college class. You are strongly advised to consult your advisor to ensure you stay on track towards a degree. Read more about our degree requirements.

To clarify any degree requirements, please contact the Co-Director of Actuarial Science.

Preparatory Curriculum

Students in all majors in the Department of Mathematical Sciences must complete:

  • MATH 231, 232, and 233 (or equivalent)
    Students majoring in actuarial science must have a GPA of at least 2.5 in these courses
    MATH 225 and 226 are equivalent to MATH 231;
    MATH 221 and 222 are equivalent to MATH 231, 232, and 233.
  • MATH 234 or 240

Requirements

Additional Preparatory Curriculum

AT LEAST TWO COURSES FROM THE FOLLOWING THREE:

  • Bus Adm 230 - Introduction to Information Systems
  • CompSci 151 - Introduction to Scientific Programming in Fortran
  • CompSci 201 - Introductory Computer Programming

ALL OF THE FOLLOWING:

  • Bus Adm 201 - Understanding and Using Financial Statements
  • Econ 103 - Principles of Microeconomics
  • Econ 104 - Principles of Macroeconomics

ONE OF THE FOLLOWING THREE:

  • Bus Adm 210 - Introduction to Management Statistics
  • Econ 210 - Economic Statistics
  • MthStat 215 - Elementary Statistical Analysis


Required Core Curriculum

ALL OF THE FOLLOWING COURSES:

  • Math 311 - Theory of Interest
  • Math 599 - Capstone Experience
  • MthStat 361 - Introduction to Mathematical Statistics I
  • MthStat 362 - Introduction to Mathematical Statistics II
  • MthStat 563 - Regression Analysis
  • MthStat 564 - Time Series Analysis
  • MthStat 591 - Foundations in Professional Practice in Actuarial Science
  • MthStat 592 - Actuarial Science Laboratory I: Probability
  • MthStat 593 - Actuarial Science Laboratory II: Interest Theory, Finance, Economics

ONE OF THE FOLLOWING COURSES:

  • Bus Adm 350 - Principles of Finance
  • Bus Adm 450 - Intermediate Finance

ONE OF THE FOLLOWING COURSES:

  • Econ 301 - Intermediate Microeconomics
  • Econ 302 - Intermediate Macroeconomics

ONE OF THE FOLLOWING THREE PAIRS:

  • Math 571 - Introduction to Probability Models
    and
    MthStat 691 - Actuarial Models I: Life Contingencies
  • Math 571 - Introduction to Probability Models
    and
    MthStat 692 - Actuarial Models II: Financial Economics
  • MthStat 596 - Actuarial Statistics I: Fitting of Loss Models
    and
    MthStat 597 - Actuarial Statistics II: Risk Measures, Credibility, and Related Topics


Recommended Electives

To achieve the best preparation for an actuarial career, students should actively pursue internship opportunities with insurance companies, consulting firms and other organizations that require actuarial science knowledge. Once such an opportunity is secured, the student should enroll in MTHSTAT 489. Students should also take courses in communication (COMMUN 103, 264), and expand their knowledge in economics (ECON 221, 248). Note that ECON 248 satisfies the cultural diversity requirement.