Actuarial Science Program
An actuary is a mathematician responsible for estimating risks, primarily in the insurance and financial security industries. The Butler program helps to prepare students for the professional examinations administered by the Casualty Actuary Society and the Society of Actuaries. In addition to the departmental requirements below, a student must complete the University Core Curriculum, the College of Liberal Arts and Sciences language requirement, and other general requirements, including a writing intensive course.
Additional information for Actuarial Science may be obtained at the following websites: Society of Actuaries, Casualty Actuarial Society, and Be An Actuary.
If you would like to see courses offered, please visit the Course Catalog. If you’d like to see how to complete this major in three years, visit the three-year program majors website for a recommended degree path.
MA 106, 107, 208: Calculus and Analytic Geometry I, II, III
MA 310: Linear Algebra
MA 360: Probability Theory I
MA 361: Statistical Theory
MA 362: Linear Regression and Time Series
MA 363: Probability Theory II
MA 372: Loss Models
MA 395: Financial Mathematics
MA 397: Actuarial Mathematics I
MA 398: Actuarial Mathematics II
MA 399: Financial Derivatives
Recommendation
Actuarial Science majors should complete the following business courses: AC 203 (Introduction to Accounting I), MS 100 (Basic Excel Skills for Business Applications), MS 265 (Information Technology), EC 231, 232 (Principles of Micro/Macroeconomics), FN 340 (Corporation Finance). MA 495 (Mathematics for Investment Portfolios and CS 142 (Introduction to Computer Science and Programming) are also recommended. In addition, Actuarial Science majors are strongly encouraged to pass the CAS/SOA Exam P (probability) and FM (mathematics of finance), and obtain a summer internship while still an undergraduate.
Students will be required to submit to SOA grades of B- or better for FN 340, AC 203, EC 231, EC 232, and MA 361 to validate educational experience (VEE) for all of these courses.
First Two Years—Starting in MA106 Calculus 1 or MA107 Calculus 2
| Fall | Spring | |
| First Year | MA 106 MA 162 MS 100 FYS & Foreign Language CS 142 or Core electives | MA 107 MA 162 EC 231 and/or AC 203 MS 265 FYS & Foreign language |
| Second Year | MA 208 MA 360 GHS Complete AC 203 & EC 231 (or continue in AC 204, EC 232) | MA 363 –> Exam P MA 361 GHS Finish AC 203-204 and EC 231-232 |
First Two Years—Starting in MA 360 and MA 107 or MA 208
| Fall | Spring | |
| First Year | MA 107/MA 208 MA 162 MA 360 MS 100 FYS & Foreign Language | MA 361 MA 363 –> Exam P MA 265 FYS & Foreign Language Optional: Start EC 231 and/or AC 203 |
| Second Year | MA 208 MA 395 –> Exam FM GHS Complete AC 203 & EC 231 (or continue in AC 204, EC 232) | MA 310/CS 142 GHS Complete AC 203-204 and EC 231-232 |
Third and Fourth Years—Fall of third year is odd numbered
| Fall | Spring | |
| Third Year odd fall/even spring | MA 395 –> Exam FM MA 397 CS 142 Apply for summer internships Optional: FN 340, MA 362 | MA 398 MA 310 Optional: CS 142 |
| Fourth Year even fall/odd spring | MA 362 MA 310 FN 340 | MA 372 MA 399 Optional: MA 495 |
Third and Fourth Years—Fall of third year is even numbered
| Fall | Spring | |
| Third Year even fall/odd spring | MA 395 –>Exam FM MA 362 CS 142 Apply for summer internships Optional FN 340 | MA 372 MA 399 CS 142 or MA 310 Optional: MA 495 |
| Fourth Year odd fall/even spring | MA 397 FN 340 MA 310 | MA 398 |
MA 106, 107: Calculus and Analytic Geometry I, II
MA 360: Probability Theory I
MA 395: Financial Mathematics
Choose two of the following courses (*Only one of MA 361 or MA 363 will count towards the minor , not both):
- *MA 361: Statistical Theory
- *MA 363: Probability Theory II
- MA 372: Loss Models
- MA 397: Actuarial Mathematics I
- MA 398: Actuarial Mathematics II
- MA 399: Financial Derivatives
NOTE: The information found on this website with respect to major/minor/program requirements is primarily directed at providing prospective students a general roadmap of the curriculum. Current Butler students are expected to review their degree audit report at my.butler.edu and speak with their advisor regularly for detailed information regarding their specific degree requirements and their progress toward degree completion.