Actuarial Science Minor

The Actuarial Science minor is designed to satisfy the needs of students interested in actuarial careers, especially in business. It will give you the fundamental knowledge and skills vital to meeting the demands of an actuarial career, and will prepare you for two of the required national actuarial exams.   

Offered by: Department of Mathematics and Department of Business Administration

What are the requirements for the minor?

Minor Program: 18 cr*
1. Required Courses: 12 cr Prerequisites
ECO 11: Principles of Macroeconomics  
ECO 12: Principles of Microeconomics  
MAT 301: Probability and Statistics I MAT 224 & MAT 283 #
MAT 305: Mathematics of Finance I MAT 283
2. Elective Courses: Choose 2 courses (6 cr); at least 1 must be outside of your major 
ECO 205: Intermediate  Microeconomics ECO 12
ECO 210: Intermediate Macroeconomics ECO 11
MAT 302: Probability and Statistics II MAT 301
MAT 306: Mathematics of Finance II MAT 305
MAT 372: Independent Study and/or Project in Mathematics**  
MAT 403: Data Analysis MAT 302

Notes on the Actuarial Science Minor:

  1. *No student may count more than three courses from their major program checksheet.         
  2. A student must take at least one course at the 200 level or above from a department outside of their major.
  3. **To count MAT 372 in this minor: the topics should be related to Probability & Statistics, Mathematics of Finance, and/or Economics.
  4. # The prerequisite for MAT 224 is MAT 181 with a C or better.   The prerequisite for MAT 283 is MAT 182 with a C or better.  

What is an actuary?  

Actuaries are business professionals who deal with the financial impact of risk and uncertainty, analyze, manage and measure the financial implications of future risk, develop and validate models and communicate results to guide decision-making.

Why be an actuary?

  • Top-Ranked---one of the top jobs in the United States     
  • High earnings potential---great starting salaries that can double within the first five years     
  • Job security---less sensitive to economic cycles  
  • Impressive impact--- high-level business decision-making in every industry
  • Life in balance--- low-stress, highly sought-after work/life balance

What do actuaries do?

Actuarial Science graduates go on to work for:

  • Insurance Industry
  • Employee Benefit Industry
  • Financial Services Industry
  • Government

What KU students have passed actuarial exams?

  • Exam P/1: ​ Bradley Mayer '15, Michael Pol '15
  • Exam FM/2: Bradley Mayer '15, Ian Haberle '16

Where can I find more information?

E-mail Dr. Ju Zhou (Department of Mathematics) or visit the following websites: 

Actuarial Science students may also be interested in:

Statistics and Actuarial Science Club Mathematics Major and Minor Programs
College of Business Student Organizations Business Administration Major and Minor Programs