• Prepare for careers in insurance, financial, and other industries
  • MTSU majors get a head start on actuary professional exams
  • Courses include such topics as mathematics of pricing theory
  • Actuarial Science students often have job offers before graduation

Actuarial Science, B.S.

Students interested in combining mathematics and business coursework for an Actuarial Science degree can pursue a newly emerging career with well-paying jobs in high demand. This special discipline trains students to apply mathematical skills and statistical techniques to manage risks and solve problems in insurance and pension programs. MTSU is the only university in Tennessee that offers actuarial science coursework for both undergraduate and graduate degrees. The program, founded at MTSU in 1987, now has been elevated from an undergraduate concentration to a major. Actuarial Science majors take courses in mathematics, statistics, economics, and insurance designed to help prepare for preliminary examinations from the actuarial professional societies and to succeed in the field. MTSU students also have opportunities to interact with industry professionals and to earn scholarships and internships.

Alum passes actuarial exams within two years of graduation

Alum passes actuarial exams within two years of graduation

Rachael Padgett, a 2013 graduate of MTSU’s Actuarial Science program, is a consulting actuary at BPS&M, a Wells Fargo Company, in Brentwood. She began working as an actuarial analyst in June 2013 and in only two years earned designation as an Associate of the Society of Actuaries (ASA) member in June 2015. The Kentucky native came to MTSU with an ACT score of 34. She also played clarinet all four years at the University. “MTSU was the perfect fit for me,” she says. “I got exposure to a variety of topics—mathematics, statistics, finance, economics, accounting, computer programing, insurance—the list goes on. I passed two actuarial exams in college and passed my third shortly after graduating. I was ahead when studying for my fourth exam because I had taken a course on the material.” Undergraduate course credits also covered her required VEEs (Validation by Educational Experience).

Successful graduate moves up in field, helps advise program

Successful graduate moves up in field, helps advise program

MTSU alumnus Jeremy Richardson is now a consulting actuary and assistant vice president in the Willis Towers Watson Casualty Actuarial Practice in Nashville. He achieved his designation as Associate of the Casualty Actuarial Society (ACAS) in 2013 and is working toward his Fellowship (FCAS). Richardson has provided consulting actuarial services since 2010 at Willis Towers Watson. “I find the actuarial profession quite rewarding. I enjoy communicating with my clients and sharing the results from the actuarial analyses I perform for them,” he says. He serves as a university liaison between the Casualty Actuarial Society and MTSU, plus is on the advisory board for the master’s degree program. “The actuarial science program is growing by leaps and bounds since I graduated in 2007. This is due to the outstanding job that Dr. Hong and other professors are doing in preparing the students for actuarial exams and connecting them with the industry,” 

A career as an actuary is better described as a “business" career with a mathematical basis rather than as a “technical" mathematical career. The occupation of actuary has been ranked for many years as one of the best jobs based on a variety of factors. Actuaries may work for insurance companies, consulting firms, government, employee benefit departments of large corporations, hospitals, banks and investment firms, or more generally, in businesses that need to manage financial risk. Examples of potential positions include

  • Actuarial analyst
  • Actuarial auditor
  • Annuity pricing actuary
  • Chief actuary / vice president
  • Consulting actuary
  • Data analyst
  • Financial actuary
  • General liability actuary
  • Health actuary
  • Investment researcher
  • Investment valuation analyst
  • Life reinsurance pricing analyst
  • Life valuation analyst
  • Model validation financial actuary
  • Mortality valuation analyst
  • Product actuary
  • Risk and hedging analyst
  • Risk management analyst
  • Specialty pricing actuary
  • Underwriter

Employers of MTSU alumni include

  • Acuff and Associates
  • Aetna
  • Alfa Insurance
  • American General Life and Accident Insurance Co.
  • Bank of China
  • Blue Cross Blue Shield of Tennessee
  • BPS&M—Wells Fargo Co.
  • Caterpillar Finance
  • China Actuarial Society
  • China PingAn Insurance
  • Cigna
  • Consumers Insurance
  • Direct General Group of Companies
  • Farm Bureau Insurance
  • Farmers Insurance
  • First Acceptance Insurance
  • Genworth Financial
  • Humana Inc., Kentucky
  • Humana Inc., Texas
  • Lincoln Financial Group
  • Nationwide Insurance
  • Select Actuarial Services
  • Sinokorea Life Insurance Co.
  • Sigma Actuarial Consulting Group, Inc.
  • State Farm Insurance
  • Towers and Watson, Memphis
  • Towers and Watson, Atlanta
  • Travelers Insurance
  • Willis North America Inc.
  • Zurich Insurance

MTSU now offers the Bachelor of Science (B.S.) in Actuarial Science. Students may select courses to emphasize property and casualty, life and health, or risk management. Undergraduate minors to complement the major are available in Insurance, Statistics, Computer Science, Economics, Finance or Management.

For complete curriculum details, click on the REQUIREMENTS tab above.

For graduate studies, there are two options for students to achieve advanced degrees associated with actuarial science at MTSU: One is from the Master of Science (M.S.) in Professional Science degree program with a concentration in Actuarial Science. The other one is graduate study for an M.S. in Mathematics, with actuarial and financial mathematics listed under the General Mathematics concentration.

Other programs

The Department of Mathematical Sciences also confers the B.S. in Mathematics, with concentrations available in Mathematics Education and in Professional Mathematics.

Other students may pursue a minor in Mathematics; Statistics; or Mathematics for Managerial, Social, and Life Sciences. 

Additional graduate degree programs in the department include a Biostatistics concentration for the M.S. in Professional Science; two other concentrations for the M.S. in Mathematics (Industrial Mathematics and Research Preparation); and a Master of Science in Teaching (M.S.T.) with a major in Mathematics (Middle Grade Mathematics and Secondary Mathematics concentrations).

Actuarial Science, B.S.

Department of Mathematical Sciences 
615-898-2669
Don Hong, program coordinator
Don.Hong@mtsu.edu

The Actuarial Science major is designed for students who have a strong mathematical ability with an interest in applying their mathematical knowledge to insurance, finance, risk management, investments, and other areas of business. The program is classified by the Society of Actuaries (SOA) as an Advanced Undergraduate Actuarial Science program and is in complete compliance with the requirements set forth by the Society of Actuaries and the Casualty Actuarial Society (CAS) in the Year 2000 Syllabus and beyond. Therefore, the student can choose coursework necessary to prepare for the SOA/CAS Course/Exams 1 through 4 and SOA Course 6.

Actuarial Science majors preparing for the actuarial examination series and an actuarial science career should complete this professional program in Actuarial Science.

All courses in the Actuarial Science major or minor (including supporting coursework) must be completed with a grade of C (2.00) or better. All courses transferred from other institutions for credit in the Actuarial Science major or minor must carry a grade of C (2.00) or better and be approved by the department chair.

The following specialized courses do not count toward an Actuarial Science major or minor: MATH 1010, MATH 1410, MATH 1420, MATH 1530, MATH 1630, MATH 1710, MATH 1720, MATH 1730, MATH 1810, and MATH 4010. However, MATH 1630, MATH 1730, and MATH 1810 may count toward a minor in Mathematics for Managerial, Social, and Life Sciences.

Academic Map

Following is a printable, suggested four-year schedule of courses:

Mathematics, Actuarial Science, B.S., Academic Map 

Degree Requirements

General Education (41 hours)

General Education requirements (shown in curricular listings below) include courses in Communication, History, Humanities and/or Fine Arts, Mathematics, Natural Sciences, and Social/Behavioral Sciences.

The following General Education courses are required for this major:

  • MATH 1910 (Math)
  • ECON 2410 (Soc/Beh Sci)

Major Requirements (33 hours)

Mathematics Core (12 hours)

  • MATH 1910 - Calculus I  4 credit hours  (3 credit hours counted in General Education, 1 credit hour remaining)

    MATH 1910 - Calculus I

    4 credit hours

    Prerequisite: MATH 1730 with a grade of C or better or Math ACT of 26 or better or Calculus placement test score of 73 or better. An introduction to calculus with an emphasis on analysis of functions, multidisciplinary applications of calculus, and theoretical understanding of differentiation and integration. Topics include the definition of the derivative, differentiation techniques, and applications of the derivative. Calculus topics related to trigonometric, exponential, and logarithmic functions also included. Course concludes with the fundamental theorem of calculus; the definition of antidifferentiation and the definite integral; basic applications of integrations; and introductory techniques of integration. Graphing calculator required.

  • MATH 1920 - Calculus II  4 credit hours  

    MATH 1920 - Calculus II

    4 credit hours

    Prerequisite: MATH 1910 with C (2.00) or better. A topics course providing a wide view of different techniques and applications of calculus in the plane. Techniques of integration and applications of integration fully developed. Power series and Taylor series included. Emphasis on multidisciplinary applications includes Taylor series approximation; applications of integration to physics, biology, and business; and geometric and power series applications. Graphing calculator required.

  • MATH 3110 - Calculus III  4 credit hours  

    MATH 3110 - Calculus III

    4 credit hours

    Prerequisite: MATH 1920. Adjusts calculus techniques developed in the plane (Calculus I and II) to make them applicable in three-dimensional space. Introductory study of the nature of three-dimensional space and definition of the algebraic calculations in three-dimensional space. Differential and integral calculus definitions and techniques revised to appropriately transfer into this new space. Topics include multivariate functions, partial differentiation, partial integration, multiple integration, and multidisciplinary applications.

  • STAT 3150 - Mathematical Statistics I

    3 credit hours

    Prerequisite: Two semesters of calculus. Probability theory including basic probability laws, properties of distributions, mathematical expectation, special discrete and continuous distributions, functions of random variables, and selected applications.

Actuarial Science Core (21 hours)

  • ACSI 4140 - Mathematical Foundations of Actuarial Science

    3 credit hours

    Prerequisites: MATH 3020 (or MATH 3110) and STAT 3150; or consent of instructor. Integrates calculus, probability, and risk management topics into fundamental tools for assessing risk in an actuarial environment. Calculus and probability topics include derivatives, integrals, partials, random variables, distributions, and conditional probability. Risk topics include frequency and severity. Insurance concepts such as retention, deductible, coinsurance, and risk premiums. For students in Actuarial Science, a preparatory course for the Society of Actuaries/Casualty Actuarial Society Course/Exam 1.

  • ACSI 4200 - Introduction to Mathematics of Investment

    3 credit hours

    (Same as MATH 4200.) Prerequisite: MATH 1920 or consent of instructor. Calculus and probability/statistics used to model and analyze investments in bonds, treasury bills, stocks, and other derivatives. Topics include obtaining the price of a bond as a function of interest rate, developing formulas for duration and convexity to study the sensitivity of price to interest rate, and mathematical modeling of investor preference and attitude toward risk.

  • ACSI 4220 - Mathematics of Pricing Theory

    3 credit hours

    Prerequisites: ACSI 4200/MATH 4200 and ECON 2410, ECON 2420; or consent of instructor. Applies calculus and theory of interest tools to intermediate topics in microeconomics. Topics include mathematics of supply, demand, and equilibrium; prices, costs, and the gains from trade; consumer behavior; elasticities; competition; monopoly; market power, collusion, and oligopoly; the mathematics of risk and uncertainty; and surplus economics. For students in Actuarial Science, a preparatory course for the Society of Actuaries/Casualty Actuarial Society Course/Exam 2.

  • ACSI 4230 - Mathematics of Compound Interest

    3 credit hours

    Prerequisite: ACSI 4200/MATH 4200 or consent of instructor. For students in Actuarial Science, offers preparation for the Society of Actuaries/Casualty Actuarial Society Exam 2. Topics include measurement of interest (including accumulated and present value factors), annuities certain, yield rates, amortization schedules, sinking funds, and bonds and related securities.

  • ACSI 4330 - Actuarial Mathematics I

    3 credit hours

    Prerequisites: ACSI 4230 and STAT 4190; or consent of instructor. First of a two-semester sequence; offers preparation for the Society of Actuaries/Casualty Actuarial Society Course/Exam 3. Topics include survival distributions and life tables, life insurance, life annuities, and net premiums.

 

Select two courses from the following:

  • ACSI 4240 - Mathematics of Interest Theory, Economics and Finance

    3 credit hours

    Prerequisite: ACSI 4230 or consent of instructor. Applies calculus and theory of interest tools to intermediate topics in microeconomics and macroeconomics and topics in finance. Topics include pricing activities, the simplified Keynesian model, interest and discount rates, valuation of payment streams, yield rates, amortization, cash flows and internal rate of return, stock and bond valuation, portfolio risks, the Capital Asset Pricing Model (CAPM), efficient markets, capital structure, leverage, financial performance measurement, and basic option pricing and the Black-Scholes model. For students in Actuarial Science, a preparatory course for the Society of Actuaries/Casualty Actuarial Society Course/Exam 2.

  • ACSI 4340 - Actuarial Mathematics II

    3 credit hours

    Prerequisite: ACSI 4330. Second of a two-semester sequence; offers preparation for the Society of Actuaries/Casualty Actuarial Society Course/Exam 3. Topics chosen from net premium reserves, multiple life functions, multiple decrement models, valuation theory and pension plans, and insurance models (including expenses and nonforfeiture benefits and dividends).

  • ACSI 4630 - Mathematics of Risk Management

    3 credit hours

    (Same as MATH 4630.) Prerequisite: ACSI 4200/MATH 4200. For students in Actuarial Science, offers preparation for the Society of Actuaries/Casualty Actuarial Society Course 6. Topics include mathematical modeling of volatility; pricing of bonds, stocks, and other derivatives with uncertainty; benchmark portfolios; asset/liability management for property/casualty insurers; liability associated with a financially distressed company. Heath-Jarrow-Morton and Cox-Ingersoll-Ross models.

  • ACSI 4640 - Mathematics of Options, Futures, and Other Derivatives

    3 credit hours

    (Same as MATH 4640.) Prerequisites: ACSI 4630/MATH 4630 and ACSI 4200/MATH 4200. For students in Actuarial Science, offers preparation for the Society of Actuaries/Casualty Actuarial Society Course 6. Topics include risk management using options, interest rate swaps, interest rate caps, Black-Scholes analysis, Taylor series expansion to obtain hedge parameters, portfolio insurance, numerical procedures, interest rate derivatives, and use of Black's model.

  • STAT 4200 - Statistical Methods for Forecasting

    3 credit hours

    Prerequisite: STAT 4190. Topics include application of regression models in forecasting and exponential smoothing methods to forecast nonseasonal time-series, seasonal series, and globally constant seasonal models; stochastic time series models; and forecast evaluation.

Supporting Courses (22 hours)

  • ACTG 3000 - Survey of Accounting for General Business

    3 credit hours

    Prerequisites: A college-level math course; ENGL 1010; sophomore standing. Accounting cycle given minor emphasis; financial statement analysis and managerial uses of accounting given major emphasis. May be used for general business minors or M.B.A. candidates who have had no previous accounting courses. (Not open to Accounting majors and students with credit in ACTG 2110 and ACTG 2120.)

  • CSCI 1170 - Computer Science I

    4 credit hours

    Prerequisite: MATH 1730 with a grade of C or better or Math ACT of 26 or better or Calculus placement test score of 73 or better. The first of a two-semester sequence using a high-level language; language constructs and simple data structures such as arrays and strings. Emphasis on problem solving using the language and principles of structured software development. Three lecture hours and two laboratory hour.

  • ECON 2420 - Principles of Economics, Microeconomics

    3 credit hours

    As an aid to understanding modern economic society: economic concepts of consumer and firm behavior; the pricing of goods, services, and productive factors; international topics; and an overview of the American economy.

  • FIN 3610 - General Insurance  3 credit hours  

    FIN 3610 - General Insurance

    3 credit hours

    Prerequisites: Junior standing and admission into the College of Business. The principles of risk and risk bearing; insurance carriers; survey of principles of life, health and accident, fire, marine, and automobile insurance policies; government regulation of insurance.

  • MATH 4990 - Seminar in Mathematics

    3 credit hours

    Open only to Mathematics majors; normally taken during last regular semester of coursework. Required of all Mathematics majors. Offers graduating Mathematics majors a broad perspective of mathematics, mathematical activity, and problem solving in various areas of application; offers preparation for professional examinations; acquaints students with job possibilities and aids in career decisions; acquaints students with the nature of graduate study in mathematics. Pass/Fail.

  • STAT 4190 - Mathematical Statistics II

    3 credit hours

    Prerequisite: STAT 3150 or equivalent. Theory of statistical inference. Topics include sampling distributions, decision theory, estimation, test of hypothesis, regression analysis, analysis of variance, and selected applications.

  • STAT 4320 - Probability and Stochastic Processes

    3 credit hours

    Prerequisites: Two semesters of calculus and STAT 3150 (or MATH 2050) or consent of instructor. Theoretical basis for stochastic processes and their use as models of real-world phenomena. Topics include Markov chains, Poisson processes, Brownian motion and stationary processes. Applications include Gambler's Ruin, birth and death models, hitting times, stock option pricing, and the Black-Scholes model.

Electives (24 hours)

  • One course must be from Computer Science or Information Systems

NOTE:

Students with a major in Actuarial Science may substitute STAT 3150 for MATH 2010 and MATH 2050; and ACSI 4200 for MATH 3460.

Total hours in program: 120

 

Curriculum: Actuarial Science

Curricular listings include General Education requirements in Communication, History, Humanities and/or Fine Arts, Mathematics, Natural Sciences, and Social/Behavioral Sciences categories. 

Students should consult their advisors each semester to plan their schedules.

Freshman

 

  • ENGL 1010 - Expository Writing  3 credit hours  (Comm)

    ENGL 1010 - Expository Writing

    3 credit hours

    The first General Education English course. Emphasis on learning to adapt composing processes to a variety of expository and analytic writing assignments. Minimum grade of C- required for credit.

  • ENGL 1020 - Research and Argumentative Writing

    3 credit hours

    Prerequisite: ENGL 1010. The second General Education English course. Emphasis on analytic and argumentative writing and on locating, organizing, and using library resource materials in the writing. Minimum grade of C- required for credit.

  • MATH 1910 - Calculus I  4 credit hours  (Math)

    MATH 1910 - Calculus I

    4 credit hours

    Prerequisite: MATH 1730 with a grade of C or better or Math ACT of 26 or better or Calculus placement test score of 73 or better. An introduction to calculus with an emphasis on analysis of functions, multidisciplinary applications of calculus, and theoretical understanding of differentiation and integration. Topics include the definition of the derivative, differentiation techniques, and applications of the derivative. Calculus topics related to trigonometric, exponential, and logarithmic functions also included. Course concludes with the fundamental theorem of calculus; the definition of antidifferentiation and the definite integral; basic applications of integrations; and introductory techniques of integration. Graphing calculator required.

  • MATH 1920 - Calculus II  4 credit hours  

    MATH 1920 - Calculus II

    4 credit hours

    Prerequisite: MATH 1910 with C (2.00) or better. A topics course providing a wide view of different techniques and applications of calculus in the plane. Techniques of integration and applications of integration fully developed. Power series and Taylor series included. Emphasis on multidisciplinary applications includes Taylor series approximation; applications of integration to physics, biology, and business; and geometric and power series applications. Graphing calculator required.

  • CSCI 1170 - Computer Science I

    4 credit hours

    Prerequisite: MATH 1730 with a grade of C or better or Math ACT of 26 or better or Calculus placement test score of 73 or better. The first of a two-semester sequence using a high-level language; language constructs and simple data structures such as arrays and strings. Emphasis on problem solving using the language and principles of structured software development. Three lecture hours and two laboratory hour.

  • Natural Sciences (2 prefixes) 8 credit hours
  • Humanities and/or Fine Arts 3 credit hours

Subtotal: 29 Hours

 

Sophomore

 

  • COMM 2200 - Fundamentals of Communication

    3 credit hours

    Principles and processes of effective public oral communication including researching, critical thinking, organizing, presenting, listening, and using appropriate language. Emphasis on informative, persuasive, special occasion, and extemporaneous (impromptu) speaking. Counts as part of the General Education Communication requirement.

  • Humanities and/or Fine Arts 3 credit hours
  • MATH 3110 - Calculus III  4 credit hours  

    MATH 3110 - Calculus III

    4 credit hours

    Prerequisite: MATH 1920. Adjusts calculus techniques developed in the plane (Calculus I and II) to make them applicable in three-dimensional space. Introductory study of the nature of three-dimensional space and definition of the algebraic calculations in three-dimensional space. Differential and integral calculus definitions and techniques revised to appropriately transfer into this new space. Topics include multivariate functions, partial differentiation, partial integration, multiple integration, and multidisciplinary applications.

 

  • ENGL 2020 - Themes in Literature and Culture  3 credit hours  (Hum/FA) OR

    ENGL 2020 - Themes in Literature and Culture

    3 credit hours

    Prerequisites: ENGL 1010 and ENGL 1020. Traces a specific theme or idea through a number of literary texts that reflect different historical and cultural contexts. Subject will vary.

  • ENGL 2030 - The Experience of Literature  3 credit hours  (Hum/FA) OR

    ENGL 2030 - The Experience of Literature

    3 credit hours

    Prerequisites: ENGL 1010 and ENGL 1020. The reading of a variety of literary types which illuminate themes and experiences common to human existence.

  • HUM 2610 - Foreign Literature in Translation

    3 credit hours

    Prerequisites: ENGL 1010 and ENGL 1020. Representative works of French, German, and Hispanic authors in English translation. No foreign-language proficiency required. Carries General Education credit.

 

  • ECON 2410 - Principles of Economics, Macroeconomics

    3 credit hours

    As an aid to understanding modern economic society: economic concepts of national income and its fluctuations, inflation, unemployment, role of the banking system, monetary and fiscal policies, and international topics.

  • ECON 2420 - Principles of Economics, Microeconomics

    3 credit hours

    As an aid to understanding modern economic society: economic concepts of consumer and firm behavior; the pricing of goods, services, and productive factors; international topics; and an overview of the American economy.

  • ACSI 4200 - Introduction to Mathematics of Investment

    3 credit hours

    (Same as MATH 4200.) Prerequisite: MATH 1920 or consent of instructor. Calculus and probability/statistics used to model and analyze investments in bonds, treasury bills, stocks, and other derivatives. Topics include obtaining the price of a bond as a function of interest rate, developing formulas for duration and convexity to study the sensitivity of price to interest rate, and mathematical modeling of investor preference and attitude toward risk.

  • ACSI 4220 - Mathematics of Pricing Theory

    3 credit hours

    Prerequisites: ACSI 4200/MATH 4200 and ECON 2410, ECON 2420; or consent of instructor. Applies calculus and theory of interest tools to intermediate topics in microeconomics. Topics include mathematics of supply, demand, and equilibrium; prices, costs, and the gains from trade; consumer behavior; elasticities; competition; monopoly; market power, collusion, and oligopoly; the mathematics of risk and uncertainty; and surplus economics. For students in Actuarial Science, a preparatory course for the Society of Actuaries/Casualty Actuarial Society Course/Exam 2.

Choose 6 hours from:

  • HIST 2010 - Survey of United States History I

    3 credit hours

    Survey of the political, economic, social, cultural, and diplomatic phases of American life in its regional, national, and international aspects. HIST 2010 discusses the era from the beginning to 1877. HIST 2020 discusses the era from 1877 to the present. These courses are prerequisite for all advanced courses in American history and satisfy the General Education History requirement. HIST 2010 is NOT a prerequisite for HIST 2020.

  • HIST 2020 - Survey of United States History II

    3 credit hours

    Survey of the political, economic, social, cultural, and diplomatic phases of American life in its regional, national, and international aspects. HIST 2010 discusses the era from the beginning to 1877. HIST 2020 discusses the era from 1877 to the present. These courses are prerequisite for all advanced courses in American history and satisfy the General Education History requirement. HIST 2010 is NOT a prerequisite for HIST 2020.

  • HIST 2030 - Tennessee History

    3 credit hours

    The role of the state in the development of the nation. May be used to satisfy one part of the General Education History requirement.

Subtotal: 31 Hours

 

Junior

 

  • STAT 3150 - Mathematical Statistics I

    3 credit hours

    Prerequisite: Two semesters of calculus. Probability theory including basic probability laws, properties of distributions, mathematical expectation, special discrete and continuous distributions, functions of random variables, and selected applications.

  • STAT 4190 - Mathematical Statistics II

    3 credit hours

    Prerequisite: STAT 3150 or equivalent. Theory of statistical inference. Topics include sampling distributions, decision theory, estimation, test of hypothesis, regression analysis, analysis of variance, and selected applications.

  • ACSI 4140 - Mathematical Foundations of Actuarial Science

    3 credit hours

    Prerequisites: MATH 3020 (or MATH 3110) and STAT 3150; or consent of instructor. Integrates calculus, probability, and risk management topics into fundamental tools for assessing risk in an actuarial environment. Calculus and probability topics include derivatives, integrals, partials, random variables, distributions, and conditional probability. Risk topics include frequency and severity. Insurance concepts such as retention, deductible, coinsurance, and risk premiums. For students in Actuarial Science, a preparatory course for the Society of Actuaries/Casualty Actuarial Society Course/Exam 1.

  • ACSI 4230 - Mathematics of Compound Interest

    3 credit hours

    Prerequisite: ACSI 4200/MATH 4200 or consent of instructor. For students in Actuarial Science, offers preparation for the Society of Actuaries/Casualty Actuarial Society Exam 2. Topics include measurement of interest (including accumulated and present value factors), annuities certain, yield rates, amortization schedules, sinking funds, and bonds and related securities.

  • ACSI 4330 - Actuarial Mathematics I

    3 credit hours

    Prerequisites: ACSI 4230 and STAT 4190; or consent of instructor. First of a two-semester sequence; offers preparation for the Society of Actuaries/Casualty Actuarial Society Course/Exam 3. Topics include survival distributions and life tables, life insurance, life annuities, and net premiums.

  • ACTG 3000 - Survey of Accounting for General Business

    3 credit hours

    Prerequisites: A college-level math course; ENGL 1010; sophomore standing. Accounting cycle given minor emphasis; financial statement analysis and managerial uses of accounting given major emphasis. May be used for general business minors or M.B.A. candidates who have had no previous accounting courses. (Not open to Accounting majors and students with credit in ACTG 2110 and ACTG 2120.)

  • FIN 3610 - General Insurance  3 credit hours  

    FIN 3610 - General Insurance

    3 credit hours

    Prerequisites: Junior standing and admission into the College of Business. The principles of risk and risk bearing; insurance carriers; survey of principles of life, health and accident, fire, marine, and automobile insurance policies; government regulation of insurance.

  • Elective 3 credit hours
  • Minor 3 credit hours
  • CSCI/INFS elective 3 credit hours (approved by advisor)

Subtotal: 30 Hours

 

Senior

 

  • STAT 4320 - Probability and Stochastic Processes

    3 credit hours

    Prerequisites: Two semesters of calculus and STAT 3150 (or MATH 2050) or consent of instructor. Theoretical basis for stochastic processes and their use as models of real-world phenomena. Topics include Markov chains, Poisson processes, Brownian motion and stationary processes. Applications include Gambler's Ruin, birth and death models, hitting times, stock option pricing, and the Black-Scholes model.

  • MATH 4990 - Seminar in Mathematics

    3 credit hours

    Open only to Mathematics majors; normally taken during last regular semester of coursework. Required of all Mathematics majors. Offers graduating Mathematics majors a broad perspective of mathematics, mathematical activity, and problem solving in various areas of application; offers preparation for professional examinations; acquaints students with job possibilities and aids in career decisions; acquaints students with the nature of graduate study in mathematics. Pass/Fail.

  • STAT/ACSI electives 6 credit hours
  • Minor courses 12 credit hours
  • Electives 3 credit hours
  • Social/Behavioral Sciences 3 credit hours

Subtotal: 30 Hours

 

ACSI 4140 - Mathematical Foundations of Actuarial Science
3 credit hours

Prerequisites: MATH 3020 (or MATH 3110) and STAT 3150; or consent of instructor. Integrates calculus, probability, and risk management topics into fundamental tools for assessing risk in an actuarial environment. Calculus and probability topics include derivatives, integrals, partials, random variables, distributions, and conditional probability. Risk topics include frequency and severity. Insurance concepts such as retention, deductible, coinsurance, and risk premiums. For students in Actuarial Science, a preparatory course for the Society of Actuaries/Casualty Actuarial Society Course/Exam 1.

ACSI 4200 - Introduction to Mathematics of Investment
3 credit hours

(Same as MATH 4200.) Prerequisite: MATH 1920 or consent of instructor. Calculus and probability/statistics used to model and analyze investments in bonds, treasury bills, stocks, and other derivatives. Topics include obtaining the price of a bond as a function of interest rate, developing formulas for duration and convexity to study the sensitivity of price to interest rate, and mathematical modeling of investor preference and attitude toward risk.

ACSI 4220 - Mathematics of Pricing Theory
3 credit hours

Prerequisites: ACSI 4200/MATH 4200 and ECON 2410, ECON 2420; or consent of instructor. Applies calculus and theory of interest tools to intermediate topics in microeconomics. Topics include mathematics of supply, demand, and equilibrium; prices, costs, and the gains from trade; consumer behavior; elasticities; competition; monopoly; market power, collusion, and oligopoly; the mathematics of risk and uncertainty; and surplus economics. For students in Actuarial Science, a preparatory course for the Society of Actuaries/Casualty Actuarial Society Course/Exam 2.

ACSI 4230 - Mathematics of Compound Interest
3 credit hours

Prerequisite: ACSI 4200/MATH 4200 or consent of instructor. For students in Actuarial Science, offers preparation for the Society of Actuaries/Casualty Actuarial Society Exam 2. Topics include measurement of interest (including accumulated and present value factors), annuities certain, yield rates, amortization schedules, sinking funds, and bonds and related securities.

ACSI 4240 - Mathematics of Interest Theory, Economics and Finance
3 credit hours

Prerequisite: ACSI 4230 or consent of instructor. Applies calculus and theory of interest tools to intermediate topics in microeconomics and macroeconomics and topics in finance. Topics include pricing activities, the simplified Keynesian model, interest and discount rates, valuation of payment streams, yield rates, amortization, cash flows and internal rate of return, stock and bond valuation, portfolio risks, the Capital Asset Pricing Model (CAPM), efficient markets, capital structure, leverage, financial performance measurement, and basic option pricing and the Black-Scholes model. For students in Actuarial Science, a preparatory course for the Society of Actuaries/Casualty Actuarial Society Course/Exam 2.

ACSI 4280 - Undergraduate Research
1 to 4 credit hours

Prerequisite: Permission of department. Independent investigation of a selected research problem under the guidance of a faculty member resulting in an oral and written report of results. May be repeated for a maximum of four credits.

ACSI 4330 - Actuarial Mathematics I
3 credit hours

Prerequisites: ACSI 4230 and STAT 4190; or consent of instructor. First of a two-semester sequence; offers preparation for the Society of Actuaries/Casualty Actuarial Society Course/Exam 3. Topics include survival distributions and life tables, life insurance, life annuities, and net premiums.

ACSI 4340 - Actuarial Mathematics II
3 credit hours

Prerequisite: ACSI 4330. Second of a two-semester sequence; offers preparation for the Society of Actuaries/Casualty Actuarial Society Course/Exam 3. Topics chosen from net premium reserves, multiple life functions, multiple decrement models, valuation theory and pension plans, and insurance models (including expenses and nonforfeiture benefits and dividends).

ACSI 4600 - Problems in Actuarial Science
1 to 6 credit hours

Prerequisites: Senior standing and consent of instructor. Students wishing to enroll must submit a written course/topic proposal to the department prior to the semester in which ACSI 4600 is taken. Proposal must be approved prior to taking the course. At the conclusion, each enrollee must submit a written report to the department.

ACSI 4630 - Mathematics of Risk Management
3 credit hours

(Same as MATH 4630.) Prerequisite: ACSI 4200/MATH 4200. For students in Actuarial Science, offers preparation for the Society of Actuaries/Casualty Actuarial Society Course 6. Topics include mathematical modeling of volatility; pricing of bonds, stocks, and other derivatives with uncertainty; benchmark portfolios; asset/liability management for property/casualty insurers; liability associated with a financially distressed company. Heath-Jarrow-Morton and Cox-Ingersoll-Ross models.

ACSI 4640 - Mathematics of Options, Futures, and Other Derivatives
3 credit hours

(Same as MATH 4640.) Prerequisites: ACSI 4630/MATH 4630 and ACSI 4200/MATH 4200. For students in Actuarial Science, offers preparation for the Society of Actuaries/Casualty Actuarial Society Course 6. Topics include risk management using options, interest rate swaps, interest rate caps, Black-Scholes analysis, Taylor series expansion to obtain hedge parameters, portfolio insurance, numerical procedures, interest rate derivatives, and use of Black's model.

MATH 990 - Basic Geometry
3 credit hours

Plane and solid geometry including measurement formulas, properties of plane figures, proof techniques, symmetry, congruency, and construction. Open only to those lacking required high school geometry course for unconditional admission to University.

MATH 1000 - Essentials of Mathematics
3 credit hours

The practices of learning mathematics. Required for students whose ACT Mathematics score is 15-16 or whose mathematics assessment indicates placement. Emphasis on problem solving, critical thinking, math study skills, and solving and graphing linear equations and inequalities. Course will meet for three hours in the classroom and will have a required two-hour lab component, which will include structured online activities. Does not fulfill General Education Mathematics requirement.

MATH 1010 - Mathematics for General Studies
3 credit hours

Prerequisites: Two years of high school algebra and a Math Enhanced ACT of at least 19 or DSPM 0850 or COMPASS placement. Course satisfies the General Education Mathematics requirement and is also part of the mathematics sequence for students preparing to become elementary school teachers. Topics include logic, sets, algebraic reasoning, probability, statistics, and consumer mathematics.

MATH 1020 - Mathematics Colloquium
1 credit hour credit

Introduces new mathematical sciences students to the mathematics major. Topics include degree requirements, faculty resources, technological resources, research opportunities, and career options. About half of the meetings will involve one hour in-class lectures and activities, and half will involve attending talks, some of which may occur outside the scheduled class meeting time.

MATH 1410 - Concepts and Structure of Elementary School Mathematics
3 credit hours

Prerequisites: Two years of high school algebra and a Math Enhanced ACT of at least 19 or DSPM 0850 or COMPASS placement. Algebra-based study of school mathematics in keeping with the recommendations of the National Council of Teachers of Mathematics. Tools for problem solving, set theory, functions, number theory, and examinations of number systems from counting numbers to irrational numbers.

MATH 1420 - Informal Geometry
3 credit hours

Prerequisite: A grade of C or better in MATH 1410. Geometry-based study of school mathematics in keeping with the recommendations of the National Council of Teachers of Mathematics. Studies of plane, solid, coordinate, and motion geometry as well as constructions, congruence, similarity, and concepts of measurement. A variety of instructional technology tools investigated.

MATH 1530 - Applied Statistics
3 credit hours

Prerequisites: Two years of high school algebra and a Math Enhanced ACT 19 or greater or equivalent. Descriptive statistics, probability, and statistical inference. The inference unit covers means, proportions, and variances for one and two samples, and topics from one-way ANOVA, regression and correlation analysis, chi-square analysis, and nonparametrics.

MATH 1630 - College Mathematics for Managerial, Social, and Life Sc
3 credit hours

Prerequisites: Two years of high school algebra and a Math Enhanced ACT greater than 25 or MATH 1710. Topics include solving systems of linear equations, Leontief models, linear programming, mathematics of finance, set theory, and probability theory.

MATH 1710 - College Algebra
3 credit hours

Prerequisite: DSPM 0850 or two years of high school algebra; a Math Enhanced ACT 19 or greater or COMPASS placement. Course satisfies the General Education Mathematics requirement. Topics include functions--linear, quadratic, exponential, and logarithmic; analysis of graphs; linear systems; inequalities; counting principles; and probability. Graphing calculator required. Course may be taken by correspondence. Not open to those who have had MATH 1730.

MATH 1720 - Plane Trigonometry
3 credit hours

Prerequisite: Strong background in algebra recommended. Trigonometric functions of the acute and general angle, circular functions, graphs of trigonometric and inverse functions, identities, solutions of right and general triangles, equations, complex numbers, and vectors. Not open to those who have had MATH 1730. Graphing calculator required.

MATH 1730 - Pre-Calculus
4 credit hours

Prerequisite: MATH 1710 or successful completion of high school precalculus course. An integrated and rigorous study of the algebra and trigonometry needed to successfully attempt calculus. Emphasis on functions, their analysis and their applications. Level of algebraic sophistication developed above that found in MATH 1710. Topics include exponentials and logarithms, analysis of graphs, and word problems. Graphing calculator required.

MATH 1810 - Applied Calculus I
3 credit hours

Prerequisite: MATH Enhanced ACT 19 or greater or MATH 1710. First of a four-course sequence. Introduces mathematical modeling applied to real-world problems. Sets, functions, inverse models, limits, continuity, first and second order model building, single variable differentiation, implicit differentiation, inverse problems (exponential and log models). First and second derivatives used to study the behavior of real-world applications.

MATH 1910 - Calculus I
4 credit hours

Prerequisite: MATH 1730 with a grade of C or better or Math ACT of 26 or better or Calculus placement test score of 73 or better. An introduction to calculus with an emphasis on analysis of functions, multidisciplinary applications of calculus, and theoretical understanding of differentiation and integration. Topics include the definition of the derivative, differentiation techniques, and applications of the derivative. Calculus topics related to trigonometric, exponential, and logarithmic functions also included. Course concludes with the fundamental theorem of calculus; the definition of antidifferentiation and the definite integral; basic applications of integrations; and introductory techniques of integration. Graphing calculator required.

MATH 1920 - Calculus II
4 credit hours

Prerequisite: MATH 1910 with C (2.00) or better. A topics course providing a wide view of different techniques and applications of calculus in the plane. Techniques of integration and applications of integration fully developed. Power series and Taylor series included. Emphasis on multidisciplinary applications includes Taylor series approximation; applications of integration to physics, biology, and business; and geometric and power series applications. Graphing calculator required.

MATH 2010 - Elements of Linear Algebra
3 credit hours

Prerequisite: MATH 1910. Vectors and vector spaces, matrices and systems of linear equations, geometry of vector spaces and linear transformations in a vector space.

MATH 2050 - Probability and Statistics
3 credit hours

Prerequisite: Calculus I. Data analysis, probability, and statistical inference. The inference material covers means, proportions, and variances for one and two samples, one-way ANOVA, regression and correlation, and chi-square analysis.

MATH 2110 - Data Analysis
1 credit hour credit

Prerequisite or corequisite: MATH 1530 or MATH 2050 or equivalent. Using computer software for graphing and analysis of scientific and statistical data.

MATH 2530 - Applied Statistics II
3 credit hours

Prerequisite: MATH 1530 or MATH 2050 or equivalent. Explores the application of the following statistical methods: analysis of variance, simple and multiple regression models, categorical data analysis, and nonparametric methods. Three hours lecture per week.

MATH 2930 - Cooperative Education
1 to 3 credit hours

Experiential learning that occurs in real employment situations. Must be taken in sequence or approved by the director of Cooperative Education. Graded on a pass/fail basis.

MATH 2940 - Cooperative Education
1 to 3 credit hours

Experiential learning that occurs in real employment situations. Must be taken in sequence or approved by the director of Cooperative Education. Graded on a pass/fail basis.

MATH 3070 - College Geometry
3 credit hours

Prerequisite: MATH 3460. Advanced treatment of standard topics in Euclidean geometry using informal and axiomatic approaches. Includes proofmaking techniques, traditional and transformational geometry, finite geometries, and a brief introduction to other geometries.

MATH 3080 - Discrete Structures
3 credit hours

(Same as CSCI 3080.) Prerequisites: CSCI 1160 or CSCI 1170 and MATH 1910 or consent of instructor. Topics include formal logic, proof techniques, matrices, graphs, formal grammars, finite state machines, Turing machines, and binary coding schemes.

MATH 3110 - Calculus III
4 credit hours

Prerequisite: MATH 1920. Adjusts calculus techniques developed in the plane (Calculus I and II) to make them applicable in three-dimensional space. Introductory study of the nature of three-dimensional space and definition of the algebraic calculations in three-dimensional space. Differential and integral calculus definitions and techniques revised to appropriately transfer into this new space. Topics include multivariate functions, partial differentiation, partial integration, multiple integration, and multidisciplinary applications.

MATH 3120 - Differential Equations I
3 credit hours

Prerequisite: MATH 1920. The solution and application of ordinary differential equations with emphasis on first order equations, second order linear equations, Laplace Transform method, systems of differential equations, and numerical methods.

MATH 3180 - Introduction to Numerical Analysis
3 credit hours

(Same as CSCI 3180.) Prerequisites: MATH 1920 and CSCI 1160 or CSCI 1170. Topics include series approximation, finite differences, interpolation, summation, numerical differentiation and integration, iteration, curve fitting, systems of equations and matrices, and error analysis.

MATH 3260 - Differential Equations II
3 credit hours

Prerequisite: MATH 3120. A continuation of MATH 3120 with emphasis on series solutions, method of Frobenius, orthogonal functions, equations of Bessel, Legendre, Gauss, Chebyshev; introduction to partial differential equations.

MATH 3300 - Discrete Mathematics for Middle Grades Teachers
3 credit hours

Prerequisites: MATH 1410, MATH 1420, and MATH 1710. Supports the development of prospective middle grades teachers' knowledge of discrete mathematics. Topics include set theoretic topics, logic, counting, probability, graph theoretic topics. Focuses on students' learning discrete mathematics topics as well as the teaching of related mathematical topics to middle grades students. Field experience in a nearby middle school incorporated.

MATH 3310 - Functions: Connecting Algebra and Geometry for Middle G
3 credit hours

Prerequisites: MATH 1410, MATH 1420, and MATH 1710. Supports the development of prospective middle grades teachers' knowledge of functions and connections between algebra and geometry. Focuses on students connecting mathematics topics as well as the teaching of mathematical topics to middle grades students to support learning about the connected nature of mathematics. Field experience in a nearby middle school incorporated.

MATH 3320 - Teaching Mathematics in Grades 5-8
3 credit hours

Prerequisite: Admission to the teacher education program. Required of all Mathematics majors seeking a license to teach mathematics in grades 7-12. Strongly encouraged for elementary education majors with a 5-8 emphasis. Topics from number relationships, mental computation and estimation strategies, patterns and functions, algebra, statistics, probability, geometry, and measurement. Must be taken prior to student teaching.

MATH 3330 - Teaching Mathematics in Grades 9-12
3 credit hours

Prerequisites: Admission to teacher education, completion of the mathematics core, and MATH 3320. Required of all Mathematics majors seeking a license to teach mathematics in grades 7-12. In-depth study of mathematics learning and teaching strategies in secondary school mathematics. Selected topics from junior and senior high school curricula provide a foundation for student investigations into the conceptual nature of mathematics and applications in the secondary school curriculum. Must be taken prior to student teaching.

MATH 3460 - Foundation of Higher Mathematics
3 credit hours

Prerequisite: MATH 1920. The language of mathematics, set theory and proof, relations and functions, number systems, mathematical structures. Focuses on the transition from lower-division study to upper-division study by actively engaging the student in problem solving, mathematical reasoning, and both informal and technical writing.

MATH 3970 - Cooperative Education
1 to 3 credit hours

Experiential learning that occurs in real employment situations. Must be taken in sequence or approved by the director of Cooperative Education. Graded on a pass/fail basis.

MATH 3980 - Cooperative Education
1 to 3 credit hours

Experiential learning that occurs in real employment situations. Must be taken in sequence or approved by the director of Cooperative Education. Graded on a pass/fail basis.

MATH 4010 - Selected Topics in Elementary Mathematics
3 credit hours

Prerequisites: MATH 1410, MATH 1420, and MATH 1010. Required of students who are preparing to teach grades 5-8. Examines in greater depth topics to which the student has prior exposure; emphasizes the relevance and implications of these topics to the middle school classroom.

MATH 4200 - Introduction to Mathematics of Investment
3 credit hours

(Same as ACSI 4200.) Prerequisite: MATH 1920 or consent of instructor. Calculus and probability/statistics used to model and analyze investments in bonds, treasury bills, stocks, and other derivatives. Topics include obtaining the price of a bond as a function of interest rate, developing formulas for duration and convexity to study the sensitivity of price to interest rate, and mathematical modeling of investor preference and attitude toward risk.

MATH 4230 - Vector Analysis
3 credit hours

Prerequisite: MATH 3110. A review of vector algebra and vector differentiation with emphasis on aspects of these topics not covered in previous calculus courses. Stress on line and surface integrals; Divergence Theorem and Stokes' theorem with generalizations and related topics.

MATH 4250 - Theory of Calculus
3 credit hours

Prerequisites: MATH 3110 and MATH 3460. Theoretical development of limits, continuity, differentiation, and integration in one dimension.

MATH 4270 - Introduction to Topology
3 credit hours

Prerequisites: MATH 3110 and MATH 3460. Fundamental concepts of topology including continuity, compactness, connectedness, separation axioms, and metric spaces.

MATH 4280 - Undergraduate Research
1 to 4 credit hours

Prerequisite: Permission of department. Independent investigation of a selected research problem under the guidance of a faculty member resulting in an oral and written report of results. May be repeated for a maximum of four credits.

MATH 4310 - Numerical Analysis I
3 credit hours

Prerequisites: CSCI 1170 and MATH 2010 or consent of instructor. Application of computer-oriented numerical algorithms to algebraic equations, differential and integral equations, and linear algebra. Rigorous mathematical treatment of error included.

MATH 4320 - Numerical Analysis II
3 credit hours

Prerequisite: MATH 4310. A continuation of MATH 4310.

MATH 4420 - Number Theory
3 credit hours

Prerequisite: MATH 3460. Divisibility, congruences, quadratic residues, Diophantine equations, quadratic forms, and continued fractions.

MATH 4470 - Introduction to Modern Algebra
3 credit hours

Prerequisite: MATH 3460. A treatment of sets, relations, operations, and the construction of number systems in algebra.

MATH 4510 - Abstract Algebra I
3 credit hours

Prerequisite: MATH 3460. An introduction to groups, with a brief introduction to rings, integral domains, and fields.

MATH 4530 - Abstract Algebra II
3 credit hours

Prerequisite: MATH 4510. The theory of rings, fields, integral domains, and vector spaces.

MATH 4540 - Topics in Secondary School Mathematics
3 credit hours

Prerequisites: Admission to teacher education, completion of the mathematics core. Required of all Mathematics majors seeking a license to teach mathematics in grades 7-12. Examines in greater depth topics to which the student has prior exposure; emphasizes the relevance and applications of these topics to the pre-college level classroom.

MATH 4600 - Problems in Contemporary Mathematics
1 to 6 credit hours

Pass/Fail grading in specified sections.

MATH 4601 - Problems in Contemporary Mathematics Complex Variables
3 credit hours

Prerequisite: MATH 3460. Fundamental principles and applications of complex variables.

MATH 4602 - Problems in Mathematics
1 to 6 credit hours

Prerequisite: Consent of instructor. Problem-oriented course providing opportunities for mathematical study in areas of need.

MATH 4620 - History and Philosophy of Mathematics
3 credit hours

Prerequisite: MATH 3460. Background in geometry and number theory helpful. The character of mathematical thought by way of mathematical problems that have occupied the outstanding mathematicians of Babylon, Egypt, Greece, China, the Renaissance, and modern times paralleled with a study of three schools of mathematical philosophy: intuitionism, logicism, and formalism.

MATH 4630 - Mathematics of Risk Management
3.00 credit hours

(Same as ACSI 4630.) Prerequisite: ACSI 4200 or MATH 4200. For students in Actuarial Science, offers preparation for the Society of Actuaries/Casualty Actuarial Society Course 6. Topics include mathematical modeling of volatility; pricing of bonds, stocks, and other derivatives with uncertainty; benchmark portfolios; asset/liability management for property/casualty insurers; liability associated with a financially distressed company. Heath-Jarrow-Morton and Cox-Ingersoll-Ross models.  

MATH 4640 - Mathematics of Options, Futures, and Other Derivatives
3.00 credit hours

Prerequisites: ACSI 4630 or MATH 4630 or ACSI 4200 or MATH 4200. For students in Actuarial Science, offers preparation for the Society of Actuaries/Casualty Actuarial Society Course 6. Topics include risk management using options, interest rate swaps, interest rate caps, Black-Scholes analysis, Taylor series expansion to obtain hedge parameters, portfolio insurance, numerical procedures, interest rate derivatives, and use of Black's model.

MATH 4700 - Combinatorics and Graph Theory
3 credit hours

Prerequisites: MATH 2010 and MATH 3460. Selected topics in combinatorics and graph theory emphasizing combinatorial problem solving and algorithmic proof.

MATH 4740 - Research Methods
3 credit hours

(Same as BIOL/CHEM/PHYS 4740.) Prerequisite: YOED 3520. Provides secondary science and mathematics teacher candidates with the tools that scientists use to solve scientific problems. Students will use these tools in a laboratory setting, communicate findings, and understand how scientists develop new knowledge.

MATH 4800 - Seminar in Mathematics with Technology
3 credit hours

Prerequisite: 18 semester hours in mathematics including calculus or consent of instructor. Examine and utilize the technological tools available for doing mathematics. Emphasis on non-numerical tools such as theorem provers and algebraic manipulation systems.

MATH 4990 - Seminar in Mathematics
3 credit hours

Open only to Mathematics majors; normally taken during last regular semester of coursework. Required of all Mathematics majors. Offers graduating Mathematics majors a broad perspective of mathematics, mathematical activity, and problem solving in various areas of application; offers preparation for professional examinations; acquaints students with job possibilities and aids in career decisions; acquaints students with the nature of graduate study in mathematics. Pass/Fail.

STAT 3150 - Mathematical Statistics I
3 credit hours

Prerequisite: Two semesters of calculus. Probability theory including basic probability laws, properties of distributions, mathematical expectation, special discrete and continuous distributions, functions of random variables, and selected applications.

STAT 4190 - Mathematical Statistics II
3 credit hours

Prerequisite: STAT 3150 or equivalent. Theory of statistical inference. Topics include sampling distributions, decision theory, estimation, test of hypothesis, regression analysis, analysis of variance, and selected applications.

STAT 4200 - Statistical Methods for Forecasting
3 credit hours

Prerequisite: STAT 4190. Topics include application of regression models in forecasting and exponential smoothing methods to forecast nonseasonal time-series, seasonal series, and globally constant seasonal models; stochastic time series models; and forecast evaluation.

STAT 4280 - Undergraduate Research
1 to 4 credit hours

Prerequisite: Permission of department. Independent investigation of a selected research problem under the guidance of a faculty member resulting in an oral and written report of results. May be repeated for a maximum of four credits.

STAT 4320 - Probability and Stochastic Processes
3 credit hours

Prerequisites: Two semesters of calculus and STAT 3150 (or MATH 2050) or consent of instructor. Theoretical basis for stochastic processes and their use as models of real-world phenomena. Topics include Markov chains, Poisson processes, Brownian motion and stationary processes. Applications include Gambler's Ruin, birth and death models, hitting times, stock option pricing, and the Black-Scholes model.

STAT 4360 - Regression Analysis
3 credit hours

Prerequisite: MATH 2050 or BIA 3620. Theory and application of regression models. Approaches to model building and data analysis. Computation and interpretation of results facilitated through the use of statistical software packages.

STAT 4370 - Nonparametric Statistics
3 credit hours

Prerequisite: MATH 2050 or equivalent. Statistical tests that require no assertions about parameters or about the form of the population from which the samples are drawn. A wide range of practical problems studied.

STAT 4380 - Experimental Design
3 credit hours

Prerequisite: MATH 2050 or BIA 3620. Topics include one-way analysis of variances, multiple comparison, multifactor analysis of variance, and various practical issues in experimental design. Computation and interpretation of results facilitated through the use of statistical software packages.

STAT 4600 - Problems in Statistics
1 to 6 credit hours

Prerequisites: Senior standing and consent of instructor. Students wishing to enroll must submit a written course/topic proposal to the department prior to the semester in which STAT 4600 is taken. Proposal must be approved prior to taking the course. At the conclusion, each enrollee must submit a written report to the department.

Links

Scholarships

Exam Preparation

For individuals preparing for the Society of Actuaries (SOA)/ Casualty Actuarial Society (CAS) actuarial examinations.

  • All common examinations (SOA/CAS ExamsP/1, FM/2, MFE/3F, MLC/3L, C/4) and three VEE courses are supported.
  • Certain courses are offered in late afternoons or evenings to support industry personnel.

SOA/CAS Course/Exam 1-Mathematical Foundations of Actuarial Science

  • ACSI 4140/5140 Mathematical Foundations of Actuarial Science

SOA/CAS Course/Exam 2-Interest Theory, Economics, and Finance

  • ACSI 4230/5230 Mathematics of Compound Interest
  • ACSI 4240/5240 Mathematics of Interest Theory, Economics and Finance

SOA/CAS Course/Exam 3-Actuarial Models for Life Contingencies

  • ACSI 4330/5330 Actuarial Mathematics I
  • ACSI 4340/5340 Actuarial Mathematics II

SOA/CAS Exam MFE/3F Models for Financial Economics

  • ACSI 4630/5630 Mathematics of Risk Management
  • ACSI 4640/5640 Mathematics of Options, Futures & Other Derivatives

SOA/CAS Exam C/4: Construction and Evaluation of Actuarial Models

  • ACSI 6010 Credibility Theory and Loss Distributions
  • ACSI 6020 Construction and Evaluation of Actuarial Models 

SOA/CAS VEE Course—Economics

  • ECON 2410 Principles of Economics, Macroeconomics
  • ECON 2420 Principles of Economics, Microeconomics

SOA/CAS VEE Course—Corporate Finance

  • ACSI 4220/5220 Mathematics of Pricing Theory 

SOA/CAS VEE Course—Applied Statistics

  • STAT 4220/5220 Statistical Methods for Forecasting

Program Advisory Board

  • Tommy Axford, FSA, MAAA, vice president and consulting actuary, Aon Hewitt, Franklin, Tenn.
  • Lori Michelle Bradley, MAAA, ACAS, CERA, consulting actuary, SIGMA Actuarial Consulting Group, Brentwood, Tenn.
  • Mandy Lee Bratten, MAAA, EA, FSA, consulting actuary, Bryan Pendleton Swats & McAllister LLC, Brentwood, Tenn.
  • John Edward Daniel, MAAA, FCAS, vice president and consulting Actuary, Willis North America, Nashville
  • Brian LePage, ACAS, MAAA, vice president and chief actuary, Caterpillar Insurance, Nashville
  • Mary Frances Miller, FCAS, MAAA, CPCU, ARe, AIM, Select Actuarial Services, Nashville
  • Jeremy Richardson, ACAS, MAAA, consulting actuary and assistant vice president, Willis Towers Watson Casualty Actuarial Practice, Nashville
  • Jim H. Srite, FSA, MAAA, senior vice president and chief actuary, Blue Cross/Blue Shield of TN
  • Richard Waggoner, MAAA, FSA, Aetna Senior Supplemental Insurance, Franklin, Tenn.

Contact and Student Information

Don Hong, Ph.D., ACAD
Coordinator of Actuarial Science Program
dhong@mtsu.edu
615-904-8339

Don Hong, Ph.D., ACAD
dhong@mtsu.edu
615-904-8339

Actuarial Science Program
Middle Tennessee State University
1301 East Main Street
MTSU Box 34
Murfreesboro, TN 37132

MTSU College of Basic and Applied Sciences

The College of Basic and Applied Sciences at Middle Tennessee State University has a diverse set of ... [more]

MTSU Campus Tour

From the acclaimed academic programs and state-of-the-art facilities to MTSU campus life and the thr... [more]