The College of Liberal Arts and Sciences - Butler University

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Professional: • Board of Visitors for actuarial science offers advice for the program and helps students find internships and jobs • Professional actuaries teach some upperlevel actuarial science classes • Program prepares students to take 3-4 actuarial science examinations while at Butler Degrees • B.A. or B.S. in Actuarial Science • Minor in Actuarial Science Actuarial Science Program Student Learning Outcomes • Demonstrate a working knowledge of the basic concepts and theory of actuarial science as defined by the first four exams given by the Society of Actuaries: Probability (P), Financial Mathematics (FM), Actuarial Models (MLC and MFE), and Construction and Evaluation of Actuarial Models (C). • Solve insurance and financial problems related to risk assessment and perform related calculations by applying standard actuarial methods. • Communicate quantitative analyses clearly to various audiences, both in writing and orally. Requirements for the Major • MA106, 107, 208, Calculus and Analytic Geometry I, II, III • MA215, Linear Algebra • MA360, Probability Theory I • MA361, Statistical Theory • MA362, Applied Statistical Methods • MA363, Probability Theory II • MA372, Loss Models • MA395, Financial Mathematics • MA397, Actuarial Mathematics I • MA398, Actuarial Mathematics II • MA399, Financial Derivatives Requirements for the Minor • MA106, 107, Calculus and Analytic Geometry I, II • MA360, Probability Theory I • MA395, Financial Mathematics • Two of the following courses: • MA363, Probability Theory II • MA372, Loss Models • MA397, Actuarial Mathematics I • MA398, Actuarial Mathematics II • MA399, Financial Derivatives 171 Butler University Actuarial Science/Management Program The insurance and financial service industries see a strong need for management prospects who combine the analytical and technical skill related to the actuarial science training with the leadership capabilities, people skills and understanding of business which come from good management education. Individuals with this blend of skills and training should be able to command excellent entry-level positions and be strong candidates for advancement to management positions. This program includes an undergraduate major in actuarial science and a component of business theory followed by a 33 hour MBA program, most likely with a concentration in either organizational leadership or finance. Phase I — The Undergraduate Curriculum Requirements for the Major • MA106, 107, 208, Calculus and Analytic Geometry I, II, III • MA215, Linear Algebra • MA360, Probability Theory I • MA361, Statistical Theory • MA362, Applied Statistical Methods • MA363, Probability Theory II • MA372, Loss Models • MA395, Financial Mathematics • MA397, Actuarial Mathematics I • MA398, Actuarial Mathematics II • MA399, Financial Derivatives In addition, the following business courses are required • AC203, 204, Introduction to Accounting I, II • MS265, Information Technology (Prerequisite: MS100) • EC231, 232, Principles of Micro/ Macroeconomics • FN340, Corporate Finance • MK380, Introduction to Marketing Management • MG360, Organizational Behavior A student must achieve a minimum of B in a given business course to waive the comparable prerequisite (400 level) course in the MBA program. Phase II — The graduate curriculum Upon successful completion of Phase I, and meeting the MBA program admission require- The College of Liberal Arts and Sciences
ments students can complete the College of Business MBA program with a minimum of 33 hours of MBA course work (500-level). To qualify for full admission into the MBA Program the following requirements must be satisfied: 1) Students must obtain an appropriate score on the GMAT Test, and 2) Students must submit to the Graduate Admission Office a graduation admission application, two letters of recommendation, an official transcript and a résumé. Core courses offered by Mathematics and Actuarial Science AR210-MA, Statistically Speaking: Who needs statistics in the 21st century? Anyone looking critically at numerical information who does not want to be misled by incorrect or inappropriate calculations or anyone dealing with issues in their environment, state/ nation or career would benefit from studying the methodology of statistics. These problems include finding ways to improve our environment and living standards or studies conducted in an effort to fight diseases. This course is an introduction to applied statistics in the natural, social and managerial sciences through the use of current environmental and global issues. Topics include sampling, data analysis, experimental design and the use of computer-based statistical software. (U)(3). Fall and spring. AR211-MA, Codes and Secret Messages: How can sensitive information such as credit card numbers or military strategy be exchanged between two people without being intercepted by a third party? Are there ways to detect and correct errors resulting from a mistyped identification number or a scratched CD? Can information be exchanged securely among multiple individuals without anyone revealing his or her own decryption scheme? In this course, students will investigate various strategies for storing and transmitting information accurately, efficiently and securely. Students will design several types of ciphers for sending secret messages, construct various error detecting and error-correcting codes, and implement secure public-key cryptosystems for exchanging messages with classmates. As these issues are explored, students will discover the need for mathematical notions such as modular arithmetic, permutations and combinations, probability and statistics, vectors and matrices, and formal logic. Students will also become 172 Butler University aware of the central role played by cryptology and coding throughout history and modern society. (U)(3). Fall and spring. AR212-MA, Win, Lose or Draw: Why do we play games? Whatever the reason, games are a big piece of life. The world has played games for a long, long time — every time period, every culture. We will study games and gambling in our culture as well as those in other cultures. To better understand games, the students will study probability theory and its application to gaming. Applications include casino games, lotteries, racing, wagering systems, as well as other games. Some analytical tools that will arise during the course are counting methods, expected value, trees, gambler’s ruin and distributions. (U)(3). Fall and spring. Mathematics and Actuarial Science Courses MA101, Algebra: Provides students with the necessary background to continue in mathematics. Topics include the number system, equations, inequalities, graphs, polynomials, algebraic functions and exponents. Students who have successfully completed any other mathematics course will not be given credit for MA101. Does not satisfy core curriculum requirement. Must not be taken pass/fail. Prerequisite: High school algebra. (U)(3). Fall and spring. MA102, Precalculus: This course provides students with the necessary mathematical background to successfully complete a calculus course or a course that has calculus as a major topic. Topics include solving equations and inequalities, exponents, factoring, complex numbers, and functions — linear, quadratic, polynomial, rational, exponential, logarithmic and trigonometric. Students who have successfully completed any other mathematics course, MA106 or above, will not be given credit for MA102. Does not satisfy core curriculum requirement. Must not be taken pass/fail. Prerequisite: High school algebra and appropriate score on the Butler Math Placement Exam. (U)(3). Fall and spring. MA106, Calculus and Analytic Geometry I: The beginning calculus course for properly prepared students. Topics include differentiation, integration, elementary differential equations, exponential and logarithmic functions, and
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The College of Liberal Arts and Sciences - Butler University

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