The Mathematical Economics Major and Careers in Actuarial Science

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Presentation transcript:

The Mathematical Economics Major and Careers in Actuarial Science Dr. Jason Owen Department of Mathematics and Computer Science

About Me Ph.D. in Statistics, University of South Carolina Faculty UNH 1997-2002 Faculty UR 2002-present Teach courses on statistics (all levels) and financial mathematics personal stuff

Mathematical Economics major Basics: B.S. degree (interdisciplinary) equal weight of math/stat and econ more cohesive than a separate major and minor includes a capstone course (research based)

Coursework Math Econ Plus the Capstone experience (senior year) calculus I, II, multivariate linear algebra probability, mathematical statistics intro. to computing upper-level elective Econ intro micro/macro micro/macro theory econometrics mathematical economics upper-level elective Plus the Capstone experience (senior year) Honors program also available

Possible career paths any job that specifies “business majors only” – but set yourself apart! business careers that demand more math, e.g. financial engineer graduate study in economics actuary

What is an actuary? Definition: a business professional who analyzes the financial consequences of risk Main employers: insurance companies consulting firms government HR departments in large corporations Consistently listed in the top five jobs in the United States (Jobs Rated Almanac)

Examples Genworth Financial, Markel Corp., Mercer HR Consulting Anthem, CIGNA, AETNA GEICO, Allstate AON Consulting

Preparation at UR Exam 1: Probability (Math 329) – low US pass rate , but we’re better  Exam 2: Financial Mathematics (Math 395) Educational Experiences: Economics (Econ 101/102) Applied Statistics (Econ 340) Corporate Finance (Fin 360/366)

More information Be an Actuary: www.beanactuary.com UR: www.mathcs.richmond.edu/~wowen Society of Actuaries: www.soa.org Casualty Actuarial Society: www.casact.org American Acad. of Actuaries: www.actuary.org