Actuarial Science

Description

Actuarial science applies mathematical and statistical skills to problems arising in applied subjects such as commerce, government, insurance and finance in general. This is an area suitable to those who enjoyed mathematics at A-level and enjoy solving practical problems. Graduates are likely to find employment in the banking, insurance and finance sectors.

Planned for 2013 entry, our BSc Actuarial Science covers a lot of the mathematical topics offered to our first year mathematics students. These include aspects of pure and applied mathematics, statistics and some general mathematics. Topics in statistics will be covered in more detail. Mathematics will be less prevalent later in the course, particularly in your third year. There, actuarial topics will form the bulk of the curriculum. However, options in mathematics and computing will be available.

Our course forms an attractive blend of core skills essential for the actuarial profession such as solid mathematical skills, understanding of real world finance issues, as well as computing skills embedded in many modules in the form of a programming language or a package.

Detailed Course Facts

• GBP 9000 Year (EEA)
• GBP 11950 Year (Non-EEA)

• English

Course Content

The special characteristics of our courses are flexibility and choice. In your first year, you usually take four or five modules that include pre-requisite(s) for your course but, in many cases, mean you can try subjects you have not come across before. If you are taking science and engineering subjects, then these options are slightly restricted because our science modules tend to rely on previous knowledge of the subject.
With a small number of exceptions, if you successfully complete the first year of your BSc, then you are qualified to enter the second year not only of that course but also of a range of other courses: for example, if you are a BSc student who takes economics, politics, philosophy and sociology in your first year, then you have a choice of at least two courses and, in some cases, as many as five. This means you can change your course, providing you have taken the appropriate pre-requisites and places are available.
We operate a credit framework for our awards, which is based on principles widely used across the UK university sector. Each module has a credit rating attached and our standard three-year course consists of 360 credits (120 credits in your first year, and 240 credits across your second and final years).
Please note that module information on our course finder provides a guide to course content and may be subject to review on an annual basis.

Year 1

Calculus;
Further Calculus ;
Linear Mathematics;
Statistics;
Financial Mathematics;
Introduction to Finance; and
Introduction to Economics

Year 2

Mathematical Methods;
Finance and Financial Reporting;
Corporate Finance;
Probability and Statistics I;
Survival Models;
Contingencies I; and
Macroeconomics (Intermediate)

Year 3

Stochastic Processes;
Contingencies II;
Statistical Methods;
Microeconomics (Intermediate);
Mathematics of Portfolios;
Options and Futures; and
Risk Management
Please note that Mathematics Careers and Employability is a compulsory module which must be taken in all years (not including Year Abroad) but is non-credit bearing and does not contribute towards your final degree.

English Language Requirements

IELTS band : 6

To study at this university, you have to speak English. We advice you to

Requirements

• A-levels: AAB, including A in Mathematics (please note that we are unable to accept A-level Use of Mathematics in place of A-level Mathematics), or ABB, including B in Further Mathematics
• GCSE English: C
• IB: 33 points, including Higher Level Mathematics at grade 6
• English language requirements for applicants whose first language is not English: IELTS 6.0 overall with minimum 5.5 in each component (or equivalent). Different requirements apply for second year entry.

Work Experience

No work experience is required.

Related Scholarships*

• Academic Excellence Scholarship

  "The Academic Excellence Scholarship can provide up to a 50 % reduction in tuition per semester. These scholarships will be renewed if the student maintains superior academic performance during each semester of their 3-year Bachelor programme. The scholarship will be directly applied to the student’s tuition fees."

• Access Bursary

  Bursary for UK students all subjects where the variable tuition fee rate is payable.

• Alumni Bursary

  Alumni Bursary for UK Undergraduate students

* The scholarships shown on this page are suggestions first and foremost. They could be offered by other organisations than University of Essex.

Funding

For up-to-date information on funding opportunities at Essex, please visit: www.essex.ac.uk/studentfinance.