BS-MS-Actuarial

DePaul University - Department of Mathematical Sciences

Combined B.S./M.S. Degrees in Applied Mathematics:
Actuarial Science Concentration

The combined B.S./M.S. degree program in Applied Mathematics: Actuarial Science Concentration may be completed in approximately five years. Mathematics majors who decide to pursue this program should declare their intention to the Graduate Program Director, Dr. Effat Moussa, by their junior year. Dr. Moussa will help them carefully plan their remaining undergraduate mathematics courses so that they can complete the program as efficiently as possible. In particular, students should register for MAT 451-2-3 as graduate courses but take them while they are still undergraduates. Since a maximum of three courses (with grade B or better) will count toward satisfying both undergraduate and graduate degree requirements, students are advised to concentrate on developing a strong general mathematical background as undergraduates and wait to take more specialized actuarial and statistics courses as graduate students.

The requirements for the B.S./M.S. program in applied mathematics: actuarial science concentration are as follows:

Mathematics Core: Mathematics 160, 161, and 162 Calculus for Mathematics and Science Majors I, II, III (or MAT 150-1-2 Calculus I, II, III; or MAT 147-8-9 Calculus with Integrated Precalculus I, II, III; or MAT 170-1-2 ProMath Calculus for Mathematics and Science Majors I, II, III); Mathematics 260-261 Multivariable Calculus I, II; Mathematics 262 Linear Algebra; and either Mathematics 215 Introduction to Mathematical Reasoning or the combination of Mathematics 140 and 141 Discrete Mathematics I and II.

Additional Required Mathematics Courses: Three courses chosen from MAT 335-336 Real Analysis I and II; MAT 337 Complex Analysis; MAT 338 Differential Equations; MAT 370 Advanced Linear Algebra; MAT 385 Numerical Analysis I; MAT 387 Operations Research I. Also required: Mathematics 451-2-3 Probability and Statistics I, II, III (these courses to be taken as an undergraduate); Mathematics 461-2-3 Actuarial Science I, II, III; MAT 470 Advanced Linear Algebra; MAT 485 Numerical Analysis I; MAT 455 Stochastic Processes; MAT 456 Applied Regression Analysis; MAT 459 Simulation and the Monte Carlo Method. In addition, students must take at least one additional course not taken at the undergraduate level and chosen from MAT 464 Stochastic Risk Models; MAT 465 Statistical Survival Models; MAT 466 Mathematical Demography; and MAT 512 Applied Time Series and Forecasting. Note: Students who take MAT 370 or MAT 385 as undergraduates must substitute graduate-level electives in place of MAT 470 and MAT 485.

Additional Recommended Mathematics Courses: MAT 448 Statistical Methods Using SAS, and any course listed above and not taken as a required course.

Recommended Allied Field Courses: Accountancy 101: Introduction to Accounting I; Business Law 201: Legal and Ethical Aspects in the Business Environment; Economics 105-106: Principles of Microeconomics and Principles of Macroeconomics; Finance 310: Financial Management I; Finance 330: Investments: Securities and Markets; a computer programming course such as CSC 215 Introduction to Structured Programming Using C++ or CSC 240 Personal Computing for Programmers.

Sample Program

Required Mathematics Courses To Be Taken as an Undergraduate Student:	One of the first-year calculus sequences: MAT 150-1-2 Calculus I, II, III; or MAT 160-1-2 Calculus for Mathematics and Science Majors I, II, III; or MAT 147-8-9 Calculus with Integrated Precalculus I, II, III; or MAT 170-1-2 ProMath Calculus for Mathematics and Science Majors I, II, III (Prerequisite or corequisite for 150, 160, and 170: MAT 131 or placement by the Mathematics Diagnostic Test. Prerequisite for 147: MAT 130 or placement by the Mathematics Diagnostic Test.) Note: The 160-1-2, 147-8-9, and 170-1-2 sequences are only offered beginning in the autumn quarter of each year. These sequences are highly recommended for students concentrating in mathematics.
	Either MAT 215 Introduction to Mathematical Reasoning (prerequisite: MAT 151 or 161 or 171 or 149) or the combination of MAT 140 and 141 Discrete Mathematics I and II (prerequisite: MAT 130 or placement by the Mathematics Diagnostic Test)
	MAT 260-261 Multivariable Calculus I and II (prerequisite: MAT 152 or 162 or 172 or 149 or consent of instructor) Note: MAT 260-261 is only offered in the autumn and winter quarters.
	MAT 262 Linear Algebra (prerequisite: MAT 260) Note: MAT 262 is only offered in the spring quarter.
	Three courses chosen from: MAT 335-336 Real Analysis I and II (prerequisite: either MAT 152, 162, 172, or 149 and either MAT 141 or 215) MAT 337 Complex Analysis (prerequisite: MAT 261 and either MAT 141 or 215) MAT 338 Differential Equations (prerequisite: MAT 261) MAT 370 Advanced Linear Algebra (prerequisite: MAT 262) MAT 385 Numerical Analysis I (prerequisite: MAT 262 or the combination of MAT 220 and either 152, 162, 172, or 149; and a programming course) MAT 387 Operations Research I (prerequisite: either MAT 262 or 220; and any introductory programming course) Note: MAT 335, 336, and 337 are offered in alternating years in the autumn, winter and spring quarters, respectively.
	MAT 451-2-3 Probability and Statistics I, II, III (prerequisite: MAT 261 or consent of instructor) Note: The 451-2-3 sequence may only be started in the autumn quarter.
Required Mathematics Courses To Be Taken as a Graduate Student:	MAT 461-2-3 Actuarial Science I, II, and III (prerequisite: MAT 152, or 162, or 172, or 149)prerequisite: MAT 152, or 162, or 172, or 149) MAT 470 Advanced Linear Algebra (prerequisite: MAT 262 or MAT 220) MAT 485 Numerical Analysis I (prerequisite: MAT 262 or the combination of MAT 220 and either 152, 162, 172, or 149; and a programming course) MAT 455 Stochastic Processes (prerequisite: MAT 453) MAT 456 Applied Regression Analysis (prerequisite: MAT 453) MAT 459 Simulation and the Monte Carlo Method (prerequisite: MAT 453)
	At least one of: MAT 464 Stochastic Risk Models (prerequisite: MAT 353) MAT 465 Statistical Survival Models (prerequisite: MAT 353) MAT 466 Mathematical Demography (prerequisite: MAT 353 or consent of instructor) MAT 512 Applied Time Series and Forecasting (prerequisite: MAT 453) Note: Students who take 385 and 370 as undergraduate courses must substitute graduate-level electives in place of 470 and 485.
Recommended Allied Field Courses:	Accountancy 101 Introduction to Accounting I (prerequisite: MAT 130 or equivalent) Business Law 201 Legal and Ethical Aspects in the Business (prerequisite: sophomore standing) Economics 105 Principles of Microeconomics and Economics 106 Principles of Macroeconomics (prerequisite: MAT 150 or 160 or 170 or 148 or BMS 125) Either Computer Science 215 Introduction to Structured Programming Using C++ (corequisite: MAT 140) or CSC 240 Personal Computing for Programmers (prerequisite: MAT 130 or equivalent) Finance 310 Financial Management I (prerequisite: MAT 151 or 161 or 171, ECO 105-106, ACC 101, Business Law 301, and a statistics course) Finance 330 Investments: Securities and Markets (prerequisite: FIN 310)

Additional Notes

Students choosing the B.S./M.S. in applied mathematics: actuarial science concentration should take the core calculus courses as early in their programs as practicable. Students needing to take one or more of the mathematics courses that are prerequisite to calculus are especially urged to satisfy these requirements as soon as possible.
Students placing into MAT 131 are encouraged to take MAT 147-8-9 so as to complete the full year of calculus by the end of Spring Quarter. A possible alternative is to take MAT 131 concurrently with MAT 150/160/170.
MAT 215 is offered in the spring quarter of each year.
Students may take MAT 335 concurrently with MAT 260 provided they have previously taken either MAT 141 or MAT 215.
Approval of the student's graduate advisor is required for all graduate electives.
With the approval of the advisor, students may substitute up to two electives from related disciplines, such as physics, computer science, and commerce, in place of mathematics electives.
Students are expected to fulfill all requirements for the Master of Science in Applied Mathematics or Applied Statistics, including the comprehensive examinations.