If an undergrad student graduates with a B.Sc in actuarial science coupled with mathematical electives which can include the following coursework:
1) Discrete mathematics (discrete math as an elective) and linear algebra (mandatory)
2) logic-based math (elective)
3) PDEs (elective) and ODEs (mandatory)
4) numerical analysis (elective)
5) Advanced calculus (taking calculus 4 as an elective which includes topics like Multiple integrals. Parametric equations. Cylindrical and spherical coordinates. Vector-valued functions, vector calculus: Green’s Theorem, Gauss Theorem and Stokes’ Theorem and their applications. Complex numbers.)
6) real analysis (elective)
7) abstract algebra (elective)
8) stochastic processes (mandatory)
9) mathematical modelling (mandatory)
10) applied probability (mandatory)
11) statistical inference (mandatory)
12) applied multivariate analysis (mandatory)
13) applied regression methods(mandatory)
14) analysis of time series data (mandatory)
15)advanced undergrad microeconomics and macroeconomics (mandatory)
16) portfolio management theory and investment analysis (mandatory)
17) actuarial classes ranging from contingencies, financial mathematics, derivatives' pricing, to loss models (mandatory)
18) introduction to programming and problem solving (mandatory)
19) financial accounting
20) core curriculum courses
I believe such coursework is more comprehensive than any undergrad math degree. In my university, what math students take and actuarial students don't are some science electives (they select 4 courses from different disciplines physics, chemistry, CS, and biology)
The reason why I though about taking these math electives is the fact that I am interested in becoming a quant/ QFI actuary and I am thinking about doing Ph.D in economics later on that might focus on the impact of exotic securities and quant modelling on macroeconomic growth and on the global economy (this requires taking real analysis and similar abstract classes to show the differentiability, continuity, convexity, and ....etc of any economic model)
The reason why I did not think about taking the Quant route directly because of what i felt when I read about the financial crisis and the different economic recessions that happened (even under the supervision of tycoon quants such as Merton and Scholes when they were on the board of Long Term Capital Management which went bankrupt. I am still a noob but based on my humble knowledge, I am interested in focusing on advancing the actuarial models (which some people considered them too simplistic especially the models used when dealing with client) and avoiding the idea of relaxing the quant assumptions used in their complicated algorithms which might include some points of weakness.
I am interested in pursuing my graduate education at a top tier university
The reason why I might not major in math is the fact that some math courses are offered once a year and this is my final semester to change semester (which is before becoming a senior)
I still have the option to major in math through taking some core curriculum and math courses
Currently my earned credit hours are 75.
The Actuarial science option based on the coursework I posted above: additional 70 credit hours
The Math option: additional 68 credit hours
As you could observe, my prospective coursework is highly quantitative so will the actuarial science degree harm me as a brand even if my coursework is different from the traditional ACTS programs?
1) Discrete mathematics (discrete math as an elective) and linear algebra (mandatory)
2) logic-based math (elective)
3) PDEs (elective) and ODEs (mandatory)
4) numerical analysis (elective)
5) Advanced calculus (taking calculus 4 as an elective which includes topics like Multiple integrals. Parametric equations. Cylindrical and spherical coordinates. Vector-valued functions, vector calculus: Green’s Theorem, Gauss Theorem and Stokes’ Theorem and their applications. Complex numbers.)
6) real analysis (elective)
7) abstract algebra (elective)
8) stochastic processes (mandatory)
9) mathematical modelling (mandatory)
10) applied probability (mandatory)
11) statistical inference (mandatory)
12) applied multivariate analysis (mandatory)
13) applied regression methods(mandatory)
14) analysis of time series data (mandatory)
15)advanced undergrad microeconomics and macroeconomics (mandatory)
16) portfolio management theory and investment analysis (mandatory)
17) actuarial classes ranging from contingencies, financial mathematics, derivatives' pricing, to loss models (mandatory)
18) introduction to programming and problem solving (mandatory)
19) financial accounting
20) core curriculum courses
I believe such coursework is more comprehensive than any undergrad math degree. In my university, what math students take and actuarial students don't are some science electives (they select 4 courses from different disciplines physics, chemistry, CS, and biology)
The reason why I though about taking these math electives is the fact that I am interested in becoming a quant/ QFI actuary and I am thinking about doing Ph.D in economics later on that might focus on the impact of exotic securities and quant modelling on macroeconomic growth and on the global economy (this requires taking real analysis and similar abstract classes to show the differentiability, continuity, convexity, and ....etc of any economic model)
The reason why I did not think about taking the Quant route directly because of what i felt when I read about the financial crisis and the different economic recessions that happened (even under the supervision of tycoon quants such as Merton and Scholes when they were on the board of Long Term Capital Management which went bankrupt. I am still a noob but based on my humble knowledge, I am interested in focusing on advancing the actuarial models (which some people considered them too simplistic especially the models used when dealing with client) and avoiding the idea of relaxing the quant assumptions used in their complicated algorithms which might include some points of weakness.
I am interested in pursuing my graduate education at a top tier university
The reason why I might not major in math is the fact that some math courses are offered once a year and this is my final semester to change semester (which is before becoming a senior)
I still have the option to major in math through taking some core curriculum and math courses
Currently my earned credit hours are 75.
The Actuarial science option based on the coursework I posted above: additional 70 credit hours
The Math option: additional 68 credit hours
As you could observe, my prospective coursework is highly quantitative so will the actuarial science degree harm me as a brand even if my coursework is different from the traditional ACTS programs?
Actuarial Science Undergrad Program.....?
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