Mark Mills, Jessica Schuring and Graham Lemke
The actuarial science major is specifically designed to prepare students for a career as an actuary. However, combined with the Central liberal arts education, students completing this major have a broad foundation that will prepare them for many different business-oriented careers.
Because an actuary must have both mathematical/technical skills and more general business skills, the major combines components from mathematics and business. Students completing the actuarial science major will have a good foundation in the material for the actuarial industry’s Exam P (Probability), will have some background in the material for Exam FM (Financial Mathematics), and will have completed the actuarial industry’s Validation by Educational Experience (VEE) requirements in Economics, Corporate Finance, and Applied Statistical Methods (Regression). In addition, students may fulfill the VEE requirement in Applied Statistical Methods (Time Series) by taking three additional economics courses not contained in the actuarial science major. (See Additional recommended courses section below.)
Internships are strongly recommended. They may be obtained through local or regional businesses and organizations, or potentially through one of Central’s international program sites or the Chicago Metropolitan Center. This experience provides the student with rich learning opportunities and puts course work into practice.
Actuarial Science majors are encouraged to consider the study abroad experience during the spring of their second or third year, depending upon their progression in the major. Some schedule adjustments will need to be made in order to accommodate a semester abroad, so it is important to plan ahead and speak with one of the major’s co-directors early.
Students will complete COMM-160 or COMM-270 with a minimum grade of “C”.
Actuarial Science majors cannot also declare a major or a minor in either business management or mathematics.
ACCT 241 Introduction to Financial Accounting (3)
ACCT 242 Introduction to Management Accounting (3)
BMGT 261 Principles of Finance (3)
BMGT 362 Principles of Investment (3)
BMGT 462 Derivative Markets (3)
COSC 110 Introduction to Computer Science (3)
ECON 112 Principles of Microeconomics (3)
ECON 113 Principles of Macroeconomics (3)
ECON 281 Research Methods in Economics (4)
MATH 131 Calculus I (4)
MATH 132 Calculus II (4)
MATH 215 Applied Statistics (4)
MATH 231 Multivariable Calculus (3)
MATH 240 Linear Algebra (4)
MATH 330 Mathematical Modeling (3)
MATH 341 Probability (3)
MATH 342 Statistics (3)
2. Complete one of the following courses with a grade of at least a "C":
COMM 160 Communication in Everyday Life (3)
COMM 270 Public Speaking (4)
Note: COMM 270 Public Speaking is the preferred course.
Additional recommended courses
Students who want to get additional quantitative experience are encouraged to complete these three additional economics courses.
ECON 312 Microeconomic Theory
ECON 313 Macroeconomic Theory
ECON 485 Economics Research Seminar
Students are encouraged to take additional courses as their schedules allow. While the courses below are not required for the major, having them will better prepare students for future job experiences.
BMGT 231 Business Law I
BMGT 311 Principles of Management
BMGT 363 Advanced Financial Management
COSC 109 Intro to Information Management
COSC 130 Data Structures
ECON 324 Monetary Theory and the Financial System
ENGL 244 Professional Writing