# Master of Science in Actuarial Mathematics and Quantitative Risk

This program is designed to provide fundamental concepts of actuarial science with an emphasis on mathematical methods and ensuing models to evaluate, manage and control actuarial risk. The program will introduce insurance strategies and their financial instruments through six core courses and four elective courses.

**Program Educational Objectives:**

- Introduce the students to the probabilistic and statistical models and methods of Actuarial Science;
- Master the methods and techniques for actuarial risk evaluation, management and control;
- Analyze and construct innovative insurance strategies and the corresponding banking instruments;
- Successfully pass the examinations of the SOA.

**Program Educational Outcomes:**

Upon completion of the program, student should be able to:

- Model typical long term and short-term insurance related risks and losses;
- Apply the mathematical models and methods of Actuarial Science, e.g. to control insurance losses and risks;
- Design insurance strategies and instruments, provide decision support, and improve existing practices in the insurance industry

## Actuarial Mathematics and Quantitative Risk Requirements

### Core Courses

MA 540 | Introduction to Probability Theory | 3 |

Or | ||

MA 611 | Probability | 3 |

MA 541 | Statistical Methods | 3 |

Or | ||

MA 612 | Mathematical Statistics | 3 |

MA 542 | Actuarial Finance I | 3 |

MA 543 | Actuarial Finance II | 3 |

MA 545 | Short-Term Actuarial Mathematics | 3 |

MA 546 | Long-Term Actuarial Mathematics | 3 |

### Electives

MA 548 | Advanced Calculus II | 3 |

MA 552 | Axiomatic Linear Algebra | 3 |

MA 615 | Numerical Analysis I | 3 |

MA 611 | Probability | 3 |

MA 612 | Mathematical Statistics | 3 |

MA 623 | Stochastic Processes | 3 |

MA 629 | Nonlinear Optimization | 3 |

MA 641 | Time Series Analysis I | 3 |

MA 661 | Dynamic Programming and Reinforcement Learning | 3 |

MA 662 | Stochastic Programming | 3 |

MA 701 | Statistical Inference | 3 |

MA 712 | Mathematical Models of Risk | 3 |

BIA 670 | Risk Management and Simulation | 3 |

EMT 606 | Economics for Managers | 3 |

BIA 650 | Optimization and Process Analytics | 3 |

CS 506 |

In addition, students enrolled in this program should consider taking the following courses listed among the electives:

For mathematical sciences requirement: MA 641 Time Series Analysis I

For financial and accounting requirements: EMT 606 Economics, BIA 650 Optimization and Process Analytics