Pictured | Sarah McCallum | B.S., Actuarial Science | Plymouth, Indiana (hometown)
Volunteer Activities | Jefferson Elementary School Parent Teacher Organization; Emergency Medical Technician

Bachelor of Science 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 math.iusb.edu.

Academic Advising

College policy on advising requires that students meet with their academic advisors at least once each year, and in some departments, prior to each semester’s enrollment. Advising holds are placed on all College of Liberal Arts and Sciences (CLAS) students prior to advance registration and are released following advising appointments. Students with a declared major are advised in their academic units. To determine who your advisor is and how to contact them, see One.IU.

Degree Requirements (120 cr.)

Degree Map >>

Students receiving the Bachelor of Science (B.S.) degree in Actuarial Science must complete 120 total credit hours including

• IU South Bend Campuswide General Education Curriculum (33 cr.) to include:

• MATH-N 390 The Natural World
  Fulfills the Common Core: The Natural World requirement
• Math courses
  Fundamental Literacies: Quantitative Reasoning requirement
• CSCI-C 101 Computer Programming I (4 cr.)
  Fulfills the Extended Literacies: Computer Literacy requirement
• Students majoring in Actuarial Science are encouraged to take ENG-W 270 Argumentative Writing to fulfill the requirement in Critical Thinking.

• Major Requirements (44 cr.)
• Business and Economics Requirements (18 cr.)
• Elective Requirements (balance of credits needed to equal 120 cr. requirement)

• Minimum of 30 credit hours at the 300– or 400–level.
• Courses required for the major must be completed with a grade of C– or higher.
• A minimum CGPA of 2.0 is required. 
• VEE Course | A Validation by Educational Experience course approved by the Society of Actuarial and Casualty Actuarial Society. For more information, vist their website.
• All courses are 3 credit hours, unless otherwise noted.

Major Requirements (44 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 
• MATH-M 320 Theory of Interest; OR
  MATH-M 451 The Mathematics of Finance
  Credit given for only one of MATH-M 320 and MATH-M 451
• MATH-M 343 Introduction to Differential Equations I
• MATH-M 445 Probability Theory for Risk Management
• MATH-M 446 Financial Mathematics
• MATH-M 447 Mathematical Models and Applications 1
• MATH-M 448 Mathematical Models and Applications 2 (actuarial modeling)
• MATH-M 463 Introduction to Probability Theory 1 (3-4 cr.)
• MATH-M 466 Introduction to Mathematical Statistics
• MATH-M 471 Numerical Analysis 1

Select two of the following; or one upper-level or graduate course approved by the department 

• MATH-M 312 Calculus 4
• MATH-M 391 Introduction to Mathematical Reasoning
• 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
• MATH-M 574 Applied Regressional Analysis (VEE Course)
• MATH-M 576 Forecasting (VEE Course)
• STAT-S 512 Statistical Learning and Data Analytics

Business and Economics Requirements (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