Actuarial Science | B.S.

 iu south bend libraryBachelor of Science (B.S.) in Actuarial Science

4-Year Degree Plan
About the Bachelor of Science (B.S.) in Actuarial Science

Actuaries use mathematics and financial theory to determine the financial effect that uncertain future events such as birth, death, retirement, fire, accident, and sickness have on insurance and other benefit plans. Actuaries may work for insurance companies, employee benefits, consulting firms, or the benefits department of general business and government agencies.

The competitive actuarial profession requires mathematics graduates to have analytical, statistical, and computational skills, which allow them to solve industrial problems, predict the financial effects of uncertain future events, and carry out decision-making analyses. Students graduating from the program who plan to pursue careers in actuarial science can expect to succeed on the first one or two professional actuarial science examinations, and thus be ready to enter the actuarial profession. Students graduating from the program who choose not to become actuaries are well prepared to enter industry and work in such areas as quality control, computational analysis, information management, forecasting, risk analysis, simulation, and finance. A student wishing to pursue graduate study in mathematics or business is certainly prepared for either discipline.

For further information, call the Department of Mathematical Sciences at (574) 520-4335 or visit the website https://www.iusb.edu/math-sci/programs.php

Degree Requirements (120 cr.)

All courses are 3 credit hours, unless otherwise designated.

General Education Curriculum

For a more detailed description of the IU South Bend general-education curriculum, including lists of approved courses.

All courses certified as meeting the campuswide general-education requirements are designated in the Schedule of Classes.

Campuswide Curriculum (33-39 cr.)
Fundamental Literacies (17 cr.)
  • Writing | ENG-W 131 Elementary Composition 1
  • Critical Thinking | Select one of the following:
  • ENG-W 270 Argumentative Writing (The requirement to take ENG-W 231 will be waived if ENG-W270 is taken to fulfill the requirement in Fundamental Literacies B-Critical Thinking)
  • PHIL-P 105 Critical Thinking
  • PHIL-P 110 Introduction to Philosophy
  • PHIL-P 150 Elementary Logic
  • Oral Communication | SPCH-S 121 Public Speaking
  • Visual Literacy | Select one of the following:
  • FINA-A 109 Ways of Seeing: Visual Literacy
  • JOUR-J 210 Visual Communication
  • Quantitative Reasoning | Fulfilled with required mathematics courses
  • Information Literacy (1 cr.) | COAS-Q 110 Introduction to Information Literacy (1 cr.) (should be taken with ENG-W 131 Elementary Composition 1)
  • Computer Literacy | CSCI-C 101 Computer Programming I (4 cr.)
Common Core Courses (12 cr.)

Complete one course from each of the following four areas, as designated in the Schedule of Classes. At least one of the areas must be completed at the 300-level.

Contemporary Social Values (8 cr.)

Students must complete one course from each of the following three areas, as designated in the Schedule of Classes.

Additional Requirements
World Languages (0-6 cr.)

Attainment of beginning-level proficiency in a language other than English. This requirement can be met in one of two ways:

  • Successful completion of a second-semester language class, designated as 102 in the IU South Bend Bulletin. The number of years of high school language instruction typically determines into which semester a student may choose to enroll (0-1 years = 101; 2 years = 102).
  • Formal training, as evidenced by secondary or university diplomas, in a language other than English.

The Department of World Language Studies (W.L.S.) offers a placement examination to determine into which semester a student should enroll and/or to qualify students for credit by examination. Students may earn up to 6 credit hours for testing out of any two of the language classes 101, 102, 203, or 204. For more details, see the Department of World Language Studies website.

English Composition (0-3 cr.)
  • ENG-W 231 Professional Writing Skills (The requirement to take ENG-W 231 will be waived if ENG-W 270 is taken to fulfill the requirement in Fundamental Literacies B-Critical Thinking)
Natural Sciences (11 cr.)

Courses must be selected in at least two of the physical and life sciences (astronomy, biological sciences, chemistry, geology, or physics). At least one of the courses must have a laboratory component. Subject to the above, any of MATH-N 190 and MATH-N 390 courses may satisfy the Natural Sciences requirement.

Business and Economics (18 cr.)
  • BUS-A 201 Introduction to Financial Accounting
  • BUS-A 202 Introduction to Managerial Accounting
  • BUS-F 301 Financial Management
  • BUS-L 201 Legal Environment of Business
  • ECON-E 103 Introduction to Microeconomics
  • ECON-E 104 Introduction to Macroeconomics
Mathematics (46-49 cr.)
  • MATH-M 215 Calculus I (5 cr.)
  • MATH-M 216 Calculus II (5 cr.)
  • MATH-M 301 Linear Algebra and Applications
  • MATH-M 311 Calculus 3 (5 cr.)
  • MATH-M 325 Topics Course: Problem Seminar in Actuarial Science (3-6 cr.)
  • MATH-M 343 Introduction to Differential Equations I
  • MATH-M 447 Mathematical Models and Applications 1
  • MATH-M 448 Mathematical Models and Applications 2 (actuarial modeling)
  • MATH-M 451 The Mathematics of Finance
  • MATH-M 463 Introduction to Probability Theory 1 (4 cr.)
  • MATH-M 466  Introduction to Mathematical Statistics
  • MATH-M 471 Numerical Analysis 1

Select two of the following or two upper-level or graduate courses approved by the department |

  • MATH-M 347 Discrete Mathematics; or
  • MATH-M 391 Introduction to Mathematical Reasoning (credit given for only on of MATH-M 347 and MATH-M 391)
  • MATH-M 413 Introduction to Analysis 1
  • MATH-M 414 Introduction to Analysis 2
  • MATH-M 415 Elementary Complex Variables with Applications
  • MATH-M 472 Numerical Analysis 2

Academic Bulletins

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