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Twin Cities Campus
Actuarial Science B.S.B.
Finance
Curtis L. Carlson School of Management
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Students will no longer be accepted into this program after Fall 2008. Program requirements
below are for current students only.
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Students interested in actuarial science can apply to the Institute of Technology or College of Liberal Arts; each offers an actuarial science specialization through its mathematics program.
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Required credits to graduate with this degree: 120.
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Required credits within the major: 23.
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Degree: Bachelor of Science in Business.
Actuarial science applies mathematics to insurance problems. Practicing actuaries calculate insurance premiums, policy and loss reserves (liabilities), and estimate costs of future losses.
Students are introduced to professional organizations, including The Society of Actuaries, American Academy of Actuaries, Casualty Actuarial Society, Conference of Consulting Actuaries, and American Society of Pension Actuaries. Students typically take at least two professional actuarial examinations before graduation.
There are multiple career opportunities for students with the mathematics, business, and communication skills developed through the actuarial science major. The insurance and actuarial community strongly supports this program.
The Carlson School Honors program offers students access to a richer undergraduate experience. Honors students have closer contact with their professors. They work in smaller classes and they put their skills to work for the benefit of the community. The program requires hard work and a strong commitment to learning.
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Admission Requirements
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Students must complete 50 credits before admission to the program.
A GPA above 2.00 is preferred for the following:
3.0 for students transferring from another University of Minnesota college.
3.0 for students transferring from outside the University.
Freshmen are admitted to Carlson School of Management, but do not declare a major until 50 credits have been completed. Part of the 50 credits should include the five tool courses and liberal education requirements. Those transferring in as sophomores need to complete microeconomics, macroeconomics, and calculus before admission. Juniors and above need to complete microeconomics, macroeconomics, calculus, business statistics, and accounting before admission.
For information about University of Minnesota admission requirements, visit the
Office of Admissions Web site.
Tool Courses
An adviser-approved statistics course may be taken in place of OMS 2550. MATH 1271 is recommended instead of MATH 1142 and is a prerequisite for future math courses in the major.
ECON 1101 - Principles of Microeconomics, IP, SSCI (4.0 cr)
or APEC 1101 - Principles of Microeconomics, SSCI (3.0 cr)
or ECON 1101H - Honors Course: Principles of Microeconomics, IP, SSCI, H (4.0 cr)
or ECON 1104 - Principles of Microeconomics, IP, SSCI (4.0 cr)
ECON 1102 - Principles of Macroeconomics, IP, SSCI (4.0 cr)
or APEC 1102 - Principles of Macroeconomics, IP, SSCI (3.0 cr)
or ECON 1105 - Principles of Macroeconomics, IP, SSCI (4.0 cr)
or APEC 1102H - Honors: Principles of Macroeconomics, IP, SSCI, H (4.0 cr)
MATH 1271 - Calculus I, MATH (4.0 cr)
or MATH 1142 - Short Calculus, MATH (4.0 cr)
or MATH 1571H - Honors Calculus I, MATH, H (4.0 cr)
OMS 2550 - Business Statistics: Data Sources, Presentation, and Analysis (4.0 cr)
or OMS 2550H - Honors: Business Statistics: Data Sources, Presentation, and Analysis, H (4.0 cr)
ACCT 2050 - Introduction to Financial Reporting (4.0 cr)
or ACCT 2050H - Honors: Introduction to Financial Reporting, H (4.0 cr)
Additional program requirements
PSY 1001 - Introduction to Psychology, SSCI (4.0 cr)
BA 3000 - Career Skills (1.0 cr)
Preparatory Mathematics
These courses are prerequisites to mathematics courses for the major.
MATH 1272 - Calculus II (4.0 cr)
MATH 2243 - Linear Algebra and Differential Equations (4.0 cr)
MATH 2263 - Multivariable Calculus (4.0 cr)
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General Requirements
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All students are required to complete general University and college
requirements including writing and liberal education courses.
For more information about University-wide requirements, see the
liberal education requirements.
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Program Requirements
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Functional Core
ACCT 3001 - Introduction to Management Accounting (3.0 cr)
FINA 3001 - Finance Fundamentals (3.0 cr)
HRIR 3021 - Human Resource Management and Industrial Relations (3.0 cr)
IDSC 3001 - Information Systems for Business Processes and Management (3.0 cr)
MGMT 3001 - Fundamentals of Management (3.0 cr)
MKTG 3001 - Principles of Marketing (3.0 cr)
OMS 3001 - Introduction to Operations Management (3.0 cr)
Communication, International, Business Policy Core
MGMT 3033W - Business Communication, WI (3.0 cr)
or MGMT 3033V - Honors: Business Communication, WI, H (3.0 cr)
MGMT 3040 - Understanding the International Environment of Firms: International Business, IP (3.0 cr)
or MGMT 3040H - Honors: Understanding the International Environment of Firms, International Business, H (3.0 cr)
MGMT 4004W - Business Policy: Strategy Formulation and Implementation, WI (3.0 cr)
or MGMT 4004V - Honors: Business Policy: Strategy Formulation and Implementation, WI, H (3.0 cr)
Major Courses
MATH 4065 - Theory of Interest (3.0 cr)
MATH 5067 - Actuarial Mathematics I (4.0 cr)
MATH 5068 - Actuarial Mathematics II (4.0 cr)
STAT 5101 - Theory of Statistics I (4.0 cr)
STAT 5102 - Theory of Statistics II (4.0 cr)
or STAT 4101 - Theory of Statistics I (4.0 cr)
STAT 4102 - Theory of Statistics II (4.0 cr)
Adviser-approved probability course
or MATH 5651 - Basic Theory of Probability and Statistics (4.0 cr)
MATH 5652 - Introduction to Stochastic Processes (4.0 cr)
Electives
Take 4 or more credit(s) from the following:
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INS 4100 - Corporate Risk Management (2.0 cr)
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INS 4101 - Employee Benefits (2.0 cr)
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INS 4200 - Insurance Theory and Practice (2.0 cr)
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INS 4201 - Personal Financial Management (2.0 cr)
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INS 4202 - Personal Financial Planning 2: Tax and Estate Planning Techniques (2.0 cr)
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Program Sub-plans
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A sub-plan is not required for this program.
Honors UHP
This is an honors sub-plan.
Students admitted to the University Honors Program (UHP) must fulfill UHP requirements in addition to degree program requirements. For any course required in a degree program, UHP students must register for the honors version if one is offered. Honors courses used to fulfill degree program requirements will also fulfill UHP requirements.
CSOM students are encouraged to participate in the Emerging Leaders Program as one of their honors experiences.
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