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Actuarial Science at Union University
Troy D. Riggs-contact person
and actuarial advisor
Actuaries evaluate the current financial
implications of future contingent events. Traditionally, actuaries
calculate premium rates for insurance products and determine the
value of the associated assets and liabilities. Today many financial
products have features that depend upon changing interest rates, the
performance of certain stock indices, and the life/health status of
the owner. Often such products also have built-in options which give
the owner substantial flexibility for making impromptu changes to
the product. Also, recently both business and government are
developing an increasing appreciation of the importance of
stochastic science in managing risks in general. For these reasons,
actuarial training is in greater demand than ever. Job rating
services continue to rank the profession as highly desirable.
The actuarial science at Union is an interdisciplinary program of
study in business, mathematics, and statistics designed to prepare
students for the actuarial profession. The program is offered as a
minor for a student majoring in either business or mathematics. The
overall program of study includes courses in accounting, economics,
finance, computer science, calculus, statistics, and linear algebra.
In the senior year the students take a two-semester sequence in
which they pull together all of this material in solving practical
problems related to loans, bonds, insurance and annuities.
Need more
information about careers in actuarial science?
Courses for the
Minor in Actuarial Science (Mathematics Major)
The following courses are required
for any mathematics major who selects the minor in actuarial
science.
| ACC 211, Principles of Accounting I |
3 |
| ACC 212, Principles of Accounting II |
3 |
| ECF 211, Principles of Macroeconomics |
3 |
| ECF 212, Principles of Microeconomics |
3 |
| ECF 323, Principles of Finance |
3 |
|
ECF 411, Intermediate
Macroeconomics OR
ECF 412, Intermediate Microeconomics |
3 |
| MAT 400, SOA Course 1 Exam Preparation |
1 |
| Total |
19 |
Additionally, MAT 305, MAT 401 and MAT 402 must be
used to fulfill the 9 hours of upper level electives within the
mathematics major.
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