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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.

  1. MATH 240 - Calculus, Part III, or MATH 260 - Honors Calculus, Part II
  2. MATH 320 - Computer Methods in Mathematical Science I or MATH 530 - Mathematics of Finance
  3. STAT 430 - Probability
  4. STAT 431 - Mathematical Statistics
  5. BEPP 451 / STAT 451 - Fundamentals of Actuarial Science I
  6. BEPP 452 / STAT 452 - Fundamentals of Actuarial Science II
  7. BEPP 453// STAT 453 - Actuarial Statistics
  8. An additional course, choose one of the following:
    • BEPP 322 - Business insurance and Estate Planning
    • STAT 405 - Statistical Computing with R (0.5 cu) and STAT 422 - Predictive Analysis (0.5 cu)
    • STAT 435 - Forecasting Methods for Management
    • STAT 470 - Data Analytics and Statistical Computing
    • STAT 471 - Modern Data Mining

For course descriptions, please follow the links below:
Business Economics and Public Policy

For more information on Penn's Actuarial Science Program, check


  1. Another Mathematics course can be substituted for the course in number 2 above. Recommended courses include either Math 312, Linear Algebra Math 370, 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 minor), and Operations 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. 
  2. The Actuarial Mathematics Minor is administered jointly by the Undergraduate Chairs of the Statistics Department and the Mathematics Department.
    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
  3. 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.
  4. 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 Statistics Department.