Degree Requirements

The Department of Mathematical Sciences offers the Bachelor of Arts degree in Actuarial Science. The actuarial science major is an interdisciplinary program intended to prepare students for professional examinations and employment as actuaries.

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 both the actuarial science advisor and your L&S advisor to ensure you stay on track towards a degree. Read more about the degree requirements on the L&S Degree Requirements web pages.

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

Actuarial Science Major Requirements

Preparatory Curriculum

Students in all majors in the Department of Mathematical Sciences must complete MATH 231 (or MATH 213), MATH 232, and MATH 233 (or equivalent). MATH 221 and MATH 222 are equivalent to MATH 231MATH 232, and MATH 233. Students majoring in actuarial science must have a GPA of at least 2.500 in these courses. All majors must take either MATH 234 or MATH 240, as well as a course in computer programming in a modern, high-level language (e.g., COMPSCI 151COMPSCI 250, or COMPSCI 251). Actuarial science majors must complete additional preparatory curricula, as indicated below.

Capstone Experience

Students in all majors and major options in the Department of Mathematical Sciences must complete a Capstone Experience. The aim of the department's capstone experience is to encourage independent learning. Students complete a research paper in the context of this course, which satisfies the L&S research requirement. For Actuarial Science majors, the capstone is MATH 599. Students must obtain consent of a professor to enroll in ATM SCI 599 or MATH 599.

Requirements 

Students must complete the courses listed below, including at least 15 upper-division (numbered 300 and above) credits in the major in residence at UWM. The College of Letters & Science requires that students attain at least a 2.0 GPA on all credits in the major attempted at UWM. In addition, students must attain a 2.0 GPA on all major credits attempted, including any transfer work.

Additional Preparatory Curriculum
BUS ADM 201Introduction to Financial Accounting4
ECON 103Principles of Microeconomics3
ECON 104Principles of Macroeconomics3
MATH 234Linear Algebra and Differential Equations4
Select at least 6 credits of the following:6
BUS ADM 230
Introduction to Information Technology Management
COMPSCI 151
Introduction to Scientific Programming in Fortran
COMPSCI 250
Introductory Computer Programming
Select one of the following:3
MTHSTAT 215
Elementary Statistical Analysis
ECON 210
Economic Statistics
BUS ADM 210
Introduction to Management Statistics
Core Curriculum
MATH 311Theory of Interest4
MATH 599Capstone Experience1
MTHSTAT 361Introduction to Mathematical Statistics I3
MTHSTAT 362Introduction to Mathematical Statistics II3
MTHSTAT 563Regression Analysis3
MTHSTAT 564Time Series Analysis3
MTHSTAT 591Foundations of Professional Practice in Actuarial Science1
MTHSTAT 592Actuarial Science Laboratory I: Probability, Finance, and Economics1
MTHSTAT 593Actuarial Science Laboratory II: Interest Theory, Finance, and Economics1
BUS ADM 350Principles of Finance3
or BUS ADM 450 Intermediate Finance
ECON 301Intermediate Microeconomics3
or ECON 302 Intermediate Macroeconomics
Select one of the following:6
MATH 571
& MTHSTAT 691
Introduction to Probability Models
and Actuarial Models I: Life Contingencies
MATH 571
& MTHSTAT 692
Introduction to Probability Models
and Actuarial Models II: Financial Economics
MTHSTAT 596
& MTHSTAT 597
Actuarial Statistics I
and Actuarial Statistics II: Credibility, Risk Measures and Related Topics
Total Credits55

Recommended Electives

To achieve the best preparation for an actuarial career, students actively should 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 also should take courses in communication (COMMUN 103, COMMUN 264) and expand their knowledge in economics (ECON 248, ECON 450). Note that ECON 248 satisfies the cultural diversity requirement.