Minor in Actuarial Mathematics
Actuarial Science stands at the intersection of risk and money.
Actuaries use their knowledge of mathematics and probability theory to
define, analyze and solve complex business, financial and social
problems. Actuaries evaluate individual and corporate risks, and
design financially sound insurance and pension plans.Graduates from
the University of Pennsylvania with an Actuarial Mathematics Minor are
expected to be in great demand by the insurance and banking industry.
The Actuarial Mathematics Minor consists of the following eight
courses. Courses taken on a pass/fail basis may not be counted toward
the Actuarial Math Minor.
- MATH 240 - Calculus, Part III, or MATH 260 - Honors Calculus, Part II
- MATH 320 - Computer Methods in Mathematical Science I or MATH 530 - Mathematics of Finance
- STAT 430 - Probability
- STAT 431 - Statistical Inference
- BEPP 451 / STAT 451 - Fundamentals of Actuarial Science I (formerly
- BEPP 452 / STAT 452 - Fundamentals of Actuarial Science II (formerly
- BEPP 454 / STAT 454 - Applied Statistical Methods for Actuaries
Science I (formerly INSR 260)
- An additional course, choose one of the following:
- BEPP 453 / STAT 453 - Actuarial Statistics (highly recommended)
- STAT 471 - Intermediate Statistics
- BEPP 310 - Financial Strategies and Analysis : Insurance
- BEPP 321 - Employee Benefit Plan Design and Financing
- BEPP 322 - Business Insurance and Estate Planning
For course descriptions, please follow the links below:
Insurance and Risk Management
For more information on Penn's Actuarial Science Program, check
- Another Mathematics course can be substituted for the course in number 2 above. Recommended courses include
Linear Algebra Math 370,Algebra or
512, Advanced Linear Algebra (note that completion of one of these courses
together with the rest of the Actuarial Mathematics minor also
fulfills the requirements of the Mathematics
and Information Management 910 and 930.
Note: Students who have already received credit for either Math 370,
371, 502 or 503 cannot receive further credit for Math 312/313/513.
Students can receive credit for at most one of the three
courses Math 312/313/513 because of the overlap in their syllabi.
The Actuarial Mathematics Minor is administered jointly by the
Chairs of the Insurance
Department and the
Students should e-mail Math Minor
Advisors to set up an appointment or ask questions. The Actuarial Math
Minor Advisors is,
Dr. Tony Pantev DRL 3E4
- Students who decide to begin the Actuarial Mathematics Minor after
completing one or both of Statistics 101 and 102 will replace one or
both of the Statistics 430 and 431 courses with a course or courses
designated by the Undergraduate Chairs. Usually, these courses will be
more advanced statistics.
- Advancement in the actuarial profession is dependent upon passage
of a sequence of examinations administered by the Society of
Actuaries. Information about this examination program can be obtained
in the Insurance and Mathematics Departments.