Jun 24, 2024  
2023-2024 Undergraduate Academic Catalog 
    
2023-2024 Undergraduate Academic Catalog [ARCHIVED CATALOG]

Actuarial Science, B.S.


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Program Director

Dr. Yvonne Yaz
Office: L317
Phone: (414) 277-7423
Email: yaz@msoe.edu

Overview

Actuarial science is primarily concerned with decision making under uncertainty and risk management. Actuaries construct mathematical and statistical models to understand risk and uncertain events, calculate the likelihood of their outcomes, and predict their financial implications. They have a fundamental knowledge of economics, finance, corporate structure, and mathematical/statistical decision making, as well as strong communication skills. Therefore, if you like mathematics but engineering is not the profession of your choice, then actuarial profession is the right one for you. Actuary is one of the most secure and highest-paying professions available, even during tough economic times.

Our program curriculum contains courses that meet the syllabus requirements of six exams on ASA (Associate of the Society of Actuaries) Pathway and first five exams on ACAS (Associate of Casualty Actuarial Society) Pathway. The programming courses, written/oral and technical communication courses in the curriculum prepare the students with skills essential to excel as an actuary. Furthermore, our curriculum is designed for students to pass one actuarial exam by their sophomore year and two actuarial exams by their junior year when applying for internships and at least one more exam by their senior year when applying for full-time jobs.

MSOE Career Connections Center is dedicated to helping with students’ resumé building and interviewing skills. They use Handshake as their network. The Actuarial Science Program has built strong relationships with many major insurance companies such as Allstate, Acuity, Milliman, Northwestern Mutual, Pinnacle, United Health Care and Willis Towers Watson through the program Industrial Advisory Board since the program was established in 2013.

The majority of our graduates are employed by insurance companies: Acuity, Allstate, AETNA/CVS, Branch Insurance, Dean Health, Farmer’s Insurance, Global Atlantic, Kemper Insurance, Milliman, National General, Northwestern Mutual, Optumas, Segal Consulting, Sentry Insurance, State Auto, Transamerica, Validus Re, WTW, and Zurich. The others who are in non-traditional actuarial positions are employed by companies such as Amazon, ATOS Medical, Deutsche Bank-NY, Epic, GE, Homeward-San Diego, ICM Corporation, Milwaukee Tool, Partner’s Group-St. Louis, Perlic Corporation, TDS Telecommunications, Trustmark, and WI Office of Commissioner of Insurance as data analysts or financial analysts/advisors.  

Program Educational Objectives

Within a few years of graduation, graduates of the BS in Actuarial Science program will:

  • Gain employment in a position that is related to their Actuarial Science studies or be able to pursue a graduate degree in a related field.
  • Attain professional designation if pursuing an actuarial career. 
  • Demonstrate a commitment to their profession by participating in professional societies or service activities.

Student Outcomes

Upon graduation, a student in the BS in Actuarial Science program will be able to:

  • Construct, solve, and analyze mathematical models using probability, statistics and financial mathematics.
  • Perform general mathematics including single variable calculus, multi-variable calculus, and linear algebra at a high level of proficiency.
  • Possess a working knowledge of microeconomics and macroeconomics.
  • Effectively use the computational software applications used in statistics and Actuarial Science
  • Respect the ethical responsibilities associated with Actuarial Science.
  • Work effectively in a team.
  • Possess strong technical communication skills.
  • Pass the first three professional actuarial exams.

View Annual Student Enrollment and Graduation Data

Actuarial Science, B.S. Version S1


Year One


Fall


Total: 15 lecture hours - 0 lab hours - 15 credits

Spring


Total: 16 lecture hours - 0 lab hours - 16 credits

Year Two


Fall


Total: 17 lecture hours - 0 lab hours - 17 credits

Spring


Total: 16 lecture hours - 0 lab hours - 16 credits

Year Three


Fall


Total: 15 lecture hours - 0 lab hours - 15 credits

Spring


Total: 15 lecture hours - 0 lab hours - 15 credits

Year Four


Fall


Total: 15 lecture hours - 0 lab hours - 15 credits

Spring


Total: 15 lecture hours - 0 lab hours - 15 credits

Program total: 124 lecture hours - 0 lab hours - 124 credits


Notes:


* Courses with an asterisk are used to calculate major GPA.

See the The Raider Core  page for details on the Common Learning Outcomes (CLOs).

1The noted CLO is a placeholder. Raider Core electives can be taken in any order, as long as Exhibit Curiosity, Embrace Diversity, and Demonstrate Ethical Understanding are all covered. With some exceptions, these courses must be taught out of the Humanities, Social Science, and Communication Department.

2This course can assess any of the following CLOs: Collaborate Successfully, Think Critically, Demonstrate Ethical Understanding, Exhibit Curiosity, or Embrace Diversity. With some exceptions, these courses must be taught out of the Humanities, Social Science, and Communication, Mathematics, or Physics & Chemistry Departments.

3A technical elective is any MTH course 2000 level or higher approved by the program director, or any ACS, BIO, BUS, CHM, CSC, or SCI course.

 

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