Minor in Actuarial Mathematics

Actuarial mathematics prepares students to become actuaries, who are professionals in assessing and managing the financial consequences of risk and uncertainty. The minor covers essential topics from actuarial mathematics.

Actuary has consistently been rated one of the top jobs around the world. Actuaries are always in demand, earn great starting salaries, and participate in high-level business decision-making and solve real problems in every industry. They find jobs in all industries such health care, insurance, investment banking and others.

Students enrolling in the actuarial mathematics minor should have normally completed a minimum of 30 credit hours of course work and be in good academic standing.

Students seeking a minor in actuarial mathematics must successfully complete the following requirements:

• a minimum of 12 credit hours including:
  • nine credit hours of minor requirements
  • a minimum of three credit hours of minor electives
• a minimum of six credit hours of the 12 credit hours required for the minor successfully completed in residence at AUS
• a minimum of six credit hours of the courses for the minor at or above the 300 level successfully completed in residence at AUS
• a minimum GPA of 2.00 in courses completed to satisfy the minor

Courses used to satisfy the student’s degree program’s graduation requirements can be used towards meeting the requirements of the minor as follows:

• credit hours of courses used to satisfy the requirements of the minor do not double count towards meeting the core requirements, major requirements, major electives, concentration requirements, concentration electives, or general education requirements of the student’s degree program graduation requirements
• free elective courses can double count towards meeting the minor’s required and elective courses

The minor is open to all majors at AUS including business, engineering, sciences, social science and others.

Students pursuing two minors must meet the requirements of both minors. Courses used to satisfy the requirements of one minor can double count towards satisfying the requirements of the second minor provided that, at a minimum, 12 credit hours are not double counting.

Minor Requirements (9 credit hours)

Students must successfully complete the following courses:

• MTH 304 Mathematics of Finance
• MTH 305 Life Contingencies
• MTH 307 Theory of Risk

Minor Electives (minimum of 3 credit hours)

Students must successfully complete a minimum of three credit hours in courses selected from the following list:

• ACC 201 Fundamentals of Financial Accounting
• ACC 202 Fundamentals of Managerial Accounting
• ACC 301 Intermediate Financial Accounting I
• ACC 302 Intermediate Financial Accounting II
• ACC 401 Advanced Financial Accounting
• BIS 101 Business Information Systems
• CMP 120 Programming I
• CMP 220 Programming II
• CMP 305 Data Structures and Algorithms
• COE 375 Modeling and Simulation of Stochastic Systems
• ECO 201 Principles of Microeconomics
• ECO 202 Principles of Macroeconomics
• ECO 301 Intermediate Microeconomics
• ECO 302 Intermediate Macroeconomics
• ECO 330 Money and Banking
• ECO 351 Introduction to Econometrics
• ECO 451 Advanced Econometrics
• ECO 452 Economic Forecasting
• ELE 360 Probability and Stochastic Processes for Electrical Engineers
• FIN 201 Fundamentals of Financial Management
• FIN 310 Analysis of Financial Statements
• FIN 320 Banking
• FIN 330 Investments
• FIN 375 Trading and Financial Markets
• FIN 389 Advanced Financial Modeling
• INE 222 Operations Research I
• INE 322 Operations Research II
• INE 323 Stochastic Processes and Simulation
• ISA 201 Fundamentals of Management Information Systems
• ISA 301 Fundamentals of Database Management
• ISA 321 Object-Oriented Programming for Business Applications
• ISA 388 Business Analytics
• MTH 350 Introduction to Probability
• STA 301 Foundations of Statistics for Data Science
• STA 401 Introduction to Data Mining
• any 400-level course in FIN. AMP students may use an approved graduate-level FIN course towards meeting this requirement. Consult the online course catalog or the online class schedule accessible via the AUS student information system to verify course classifications.
• MTH or STA 394/494 approved special topic courses in the areas of actuarial mathematics, probability and statistics. Consult the online course catalog or the online class schedule accessible via the AUS student information system to verify course classifications.
• MTH or STA approved graduate-level courses (AMP students only). Consult the online course catalog or the online class schedule accessible via the AUS student information system to verify course classifications.

This information is taken from the 2022–2023 AUS Undergraduate Catalog. For more information on program requirements and course descriptions or for a different catalog year, please click here.