IMPORTANT: Due to the discontinuation of the STAT 451-452 sequence, the Math Department will be phasing out the Actuarial Math Minor. Students who have not already completed the Stat 451-452 sequence will not be permitted to declare this minor.
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.
Steps to declare the Actuarial Math Minor:
- Minor Declaration Period ends on Dec. 10th in the Fall and April 15th in Spring
- Go to Courseleaf Path to request to declare (or it will not get posted to your transcripts)
- Use this link to complete the top portion of our minor worksheet and email it to your assigned advisor.
- Note: if you are registered with 2 schools, list which school you want the minor posted on.
- The advisor will contact you to review your worksheet for approval (If you need to make changes in the future to your course plan contact the minor advisor)
- Please allow 15 business days for your minor to process. If it is not posted within 15 days, contact me at firstname.lastname@example.org
- Once you enter your semester of graduation, email the Math Office to request to have your worksheet certified.
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 2400 - Calculus, Part III, or MATH 2600 - Honors Calculus, Part II
- MATH 3200 - Computer Methods in Mathematical Science I or MATH 5300 - Mathematics of Finance
- STAT 4300 - Probability
- STAT 4310 - Mathematical Statistics
- BEPP 451 / STAT 4510 - Fundamentals of Actuarial Science I
- BEPP 452 / STAT 4520 - Fundamentals of Actuarial Science II
- BEPP 453 / STAT 4530 - Actuarial Statistics
- An additional course, choose one of the following:
- BEPP 322 - Business insurance and Estate Planning
- STAT 4050 - Statistical Computing with R (0.5 cu) and STAT 422 - Predictive Analysis (0.5 cu)
- STAT 4350 - Forecasting Methods for Management
- STAT 4700 - Data Analytics and Statistical Computing
- STAT 4710- 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 https://statistics.wharton.upenn.edu/programs/actuarialprogram/
- Another Mathematics course can be substituted for the course in number 2 above. Recommended courses include either Math 3120, Linear Algebra Math 3700, 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 3700, 3710, 5020 or 5030 cannot receive further credit for Math 3120/3130/5130. Students can receive credit for at most one of the three courses Math 3120/3130/5130 because of the overlap in their syllabi.
- 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
- Students who decide to begin the Actuarial Mathematics Minor after completing one or both of Statistics 1010 and 1020 will replace one or both of the Statistics 4300 and 4310 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 Statistics Department.