Actuarial Science

Topics: Actuary, Insurance, Economics Pages: 2 (441 words) Published: October 22, 2014
Actuarial Science applies mathematical, statistical, financial an economic theory to solve real problems arising in applied subjects such as commerce, governments, insurance and banking, typically involving risk, uncertainty, and the financial impact of certain events. The BSc in Actuarial Science and Mathematics is accredited by the Institute and Faculty of Actuaries. The course gives a firm foundation in Mathematics, together with specialist course units in Actuarial Science whilst giving you the opportunity to develop team working, communication and leadership skills. Every area of business is subject to risks so an actuarial career offers many options. A typical business problem might involve analysing future financial events, especially when elements are uncertain. But it could also involve understanding something like the weather: assessing when and where devastating storms may hit and their associated costs, for investments or insurance. Due to an actuary's skill the opportunities open to them are endless, they can even be employed in the marketing and development of financial products. Understanding how businesses operate is vital, but what really set actuaries apart are their natural mathematical, economic and statistical awareness, and their ability to apply this to real business issues. The ability to communicate these difficult topics to non-specialists is also very important.

It is a four year course (including a year in the industry): 1st year: Compulsory modules in the first year provide you with a clear understanding of areas including mathematics, computing, business and problem solving skills. You will receive teaching from a variety of departments that will build upon and develop your pre-existing knowledge, with modules including ‘Mathematics For Actuaries’ that will begin to develop your awareness and understanding of actuary practice. 2nd year: In the second year of your degree you will be introduced to specific actuarial themes and...
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