Actuarial science is the quantitative analysis of risk. In addition to mathematics and statistics courses, students in actuarial science take classes in finance, economics and computer programming.
At many universities, actuarial sciences is housed in the business department. We believe that the most successful actuaries have an extensive foundation in mathematics and in the broader liberal arts, and therefore our program is housed in our Department of Mathematical Sciences.
While you will take several business classes, you will also be heavily exposed to the broader context in which risk exists in our lives. Through economics courses and other courses in the social sciences and humanities, you will see how actuarial science is not practiced in a vacuum but has real-life implications and impact on businesses, individuals, and communities as a whole.
Students interested in actuarial science should make every effort to prepare themselves in high school by taking four years of challenging math classes. Ideally, students will enter college ready to start in the first semester of calculus.
As students progress in our program, they begin to take the professional exams required of actuaries, making themselves more attractive job candidates. Our location in Milwaukee, the largest city in Wisconsin and home to many large and small companies, also gives our students easier access to internships and part-time jobs compared to smaller cities. If you are looking for more advanced training beyond the bachelor's level, explore our Master's of Science in Mathematical Sciences. In this program, you can obtain graduate-level training in actuarial science.
Students must complete at least 9 upper-division (numbered 300 and above) credits for the minor in residence at UWM. The College of Letters & Science requires that students attain at least a 2.0 GPA on all credits in the minor attempted at UWM. In addition, students must attain a 2.0 GPA on all minor credits attempted, including any transfer work.
|Admission Courses 1|
|Calculus and Analytic Geometry I|
|Calculus and Analytic Geometry II|
|Calculus and Analytic Geometry III|
|ACTSCI 290||Introduction to Actuarial Science||3|
|ACTSCI 391||Investment Mathematics I||4|
|MATH 234||Linear Algebra and Differential Equations||4|
|MTHSTAT 361||Introduction to Mathematical Statistics I||3|
|MTHSTAT 362||Introduction to Mathematical Statistics II||3|
|BUS ADM 450||Intermediate Finance 2||3|
Admission to the minor requires a minimum GPA of 2.500 in these courses or an equivalent course sequence. Students who have completed these courses with the required GPA may complete a formal declaration of minor at the department office. These courses do not count in the minor GPA.
BUS ADM 450 should be completed with a grade of B- or better.