Actuarial Science Major
Department of Mathematics
The field of actuarial science applies mathematical principles and techniques to problems in the insurance industry. Progress in the field is generally based upon completion of examination given by the Society of Actuaries. The Baruch College major is designed to prepare students to pass the P, FM, FAM, ALTAM, and ASTAM exams offered by the Society of Actuaries. Classes are offered which fulfill current VEE requirements in economics, finance and accounting, and statistics. Students interested in this highly structured program are urged to meet with an advisor in the Department of Mathematics as early as possible for assistance in formulating an appropriate course of study.
Requirements for the Major
| Math Program Prerequisites: | ||
Students must satisfy the following:
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| As a preliminary requirement, students must complete the calculus prerequisite, which may be achieved by any one of the six options. | ||
| Option 1 | Calculus AP Exam (BC) with a score of 4 or 5 (transfers to Baruch as MTH 3010 Calculus II)
And one of the following MTH 3020 Calculus III or MTH 3050 Calculus III and Vector Calculus * |
8 credits |
| or | ||
| Option 2 | Calculus AP Exam (AB) with a score of 4 or 5 (transfers to Baruch as MTH 2610 Calculus I)
And MTH 3010 Calculus II And one of the following MTH 3020 Calculus III or MTH 3050 Calculus III and Vector Calculus * |
12 credits |
| or | ||
| Option 3 | MTH 2600 Calculus I with Trigonometry Refresher or MTH 2610 Calculus I
And MTH 3010 Calculus II And one of the following MTH 3020 Calculus III or MTH 3050 Calculus III and Vector Calculus * |
12 credits |
| or | ||
| Option 4 | One of the following:
MTH 2205 Precalculus and Elements of Calculus 1B MTH 2206 Applied Calculus MTH 2207 Applied Calculus and Matrix Applications And the following two courses: MTH 3006 Elements of Calculus II MTH 3030 Elements of Calculus III |
12 – 13 credits |
| or | ||
| Option 5 | One of the following:
MTH 2205 Precalculus and Elements of Calculus 1B MTH 2206 Applied Calculus MTH 2207 Elements of Calculus I and Matrix Applications And MTH 3006 Elements of Calculus II And MTH 3007 Infinite Series And one of the following MTH 3020 Calculus III or MTH 3050 Calculus III and Vector Calculus * |
12 – 13 credits |
| or | ||
| Option 6 | MTH 2630 Analytic Geometry and Calculus I
And MTH 3030 Analytic Geometry and Calculus II |
10 credits |
| * MTH 3050 is not open to students who completed MTH 3020, MTH 3030, MTH 3035, or their equivalent. | ||
| Business Program Prerequisites ** | ||
| ACC 2101 | Principles of Accounting | 3 credits |
| ECO 1001 | Micro-Economics | 3 credits |
| ECO 1002 | Macro-Economics | 3 credits |
| FIN 3000 | Principles of Finance | 3 credits |
| FIN 3610 | Corporate Finance | 3 credits |
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Algorithms, Computers, and Programming I |
3 credits |
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Introduction to Probability ** |
4 credits |
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Theory of Interest |
4 credits |
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Students must also complete three of the following five courses: |
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Actuarial Mathematics I |
4 credits |
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Actuarial Mathematics II |
4 credits |
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Short-Term Mathematics |
4 credits |
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Short-Term Mathematics II |
4 credits |
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Mathematics of Inferential Statistics |
4 credits |
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In addition, one course must be chosen from the following list of electives: |
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Numerical Methods for Differential Equations in Finance |
4 credits |
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Introduction to Stochastic Processes |
4 credits |
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Mathematics of Data Analysis (formerly Mathematics of Statistics) |
4 credits |
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Computational Methods in Probability |
3 credits |
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Actuarial Mathematics I |
4 credits |
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Actuarial Mathematics II |
4 credits |
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Mathematics of Inferential Statistics |
4 credits |
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Short-Term Mathematics |
4 credits |
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Short-Term Mathematics II |
4 credits |
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Introductory Financial Mathematics |
4 credits |
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Data Analysis and Simulation for Financial Engineers |
4 credits |
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Stochastic Calculus for Finance |
4 credits |
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The following courses are recommended, but not required. They are not applicable toward the major. |
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Intermediate Micro-Economics |
3 credits |
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Intermediate Macro-Economics |
3 credits |
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Students are expected to complete the major requirements in place at the time they are officially accepted into their programs. Please review the College Bulletin for the relevant academic year.
Contact
Department of Mathematics
646-312-4110
Professor Warren Gordon
646-312-3920