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Twin Cities Campus

Actuarial Science B.S.B.

Finance
Curtis L. Carlson School of Management
  • Students will no longer be accepted into this program after Fall 2008. Program requirements below are for current students only.
  • 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.
  • Program Type: Baccalaureate
  • Requirements for this program are current for Fall 2013
  • Required credits to graduate with this degree: 120
  • Required credits within the major: 23
  • 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.
Program Delivery
This program is available:
  • via classroom (the majority of instruction is face-to-face)
Admission Requirements
Students must complete 50 credits before admission to the program.
A GPA above 2.0 is preferred for the following:
  • 3.00 transferring from another University of Minnesota college
  • 3.00 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 website.
Required prerequisites
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 [SOCS, GP] (4.0 cr)
or APEC 1101 - Principles of Microeconomics [SOCS, GP] (4.0 cr)
or ECON 1101H {Inactive} (4.0 cr)
or ECON 1104 {Inactive} (4.0 cr)
ECON 1102 - Principles of Macroeconomics (4.0 cr)
or APEC 1102 - Principles of Macroeconomics (3.0 cr)
or ECON 1105 {Inactive} (4.0 cr)
or APEC 1102H {Inactive} (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] (4.0 cr)
BA 2551 - Business Statistics in R [MATH] (4.0 cr)
or SCO 2550H {Inactive} (4.0 cr)
ACCT 2051 - Introduction to Financial Reporting (4.0 cr)
or ACCT 2051H - Honors: Introduction to Financial Reporting (4.0 cr)
Required prerequisites
Additional program requirements
PSY 1001 - Introduction to Psychology [SOCS] (4.0 cr)
BA 2021 - Design Your Career (1.0 cr)
Required prerequisites
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)
General Requirements
All students in baccalaureate degree programs 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. Required courses for the major, minor or certificate in which a student receives a D grade (with or without plus or minus) do not count toward the major, minor or certificate (including transfer courses).
Program Requirements
Functional Core
ACCT 3001 - Strategic Management Accounting (3.0 cr)
FINA 3001 - Finance Fundamentals (3.0 cr)
HRIR 3021 - Human Capital Management (3.0 cr)
IDSC 3001 - Information Systems & Digital Transformation [TS] (3.0 cr)
MGMT 3001 - Fundamentals of Management (3.0 cr)
MKTG 3001 - Principles of Marketing (3.0 cr)
SCO 3001 - Sustainable Supply Chain and Operations (3.0 cr)
Communication, International, Business Policy Core
BA 3033W - Business Communication [WI] (3.0 cr)
or MGMT 3033V {Inactive} [WI] (3.0 cr)
MGMT 3045 - Understanding the International Environment of Firms: International Business (2.0 cr)
or MGMT 3040H {Inactive} (3.0 cr)
MGMT 4004W {Inactive} [WI] (3.0 cr)
or MGMT 4004V {Inactive} [WI] (3.0 cr)
Major Courses
MATH 4065 - Theory of Interest (4.0 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:
· INS 4105 - Corporate Risk Management (2.0 cr)
· INS 4101 - Employee Benefits (2.0 cr)
· INS 4205 - Insurance Theory and Practice (2.0 cr)
· INS 4201 - Personal Financial Management (2.0 cr)
· INS 4202 {Inactive} (2.0 cr)
Program Sub-plans
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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ECON 1101 - Principles of Microeconomics (SOCS, GP)
Credits: 4.0 [max 4.0]
Course Equivalencies: Econ 1101/1165 ApEc 1101/1101H
Typically offered: Every Fall, Spring & Summer
Microeconomic behavior of consumers, firms, and markets in domestic and world economy. Demand and supply. Competition and monopoly. Distribution of income. Economic interdependencies in the global economy. Effects of global linkages on individual decisions. prereq: knowledge of plane geometry and advanced algebra
APEC 1101 - Principles of Microeconomics (SOCS, GP)
Credits: 4.0 [max 4.0]
Course Equivalencies: Econ 1101/1165 ApEc 1101/1101H
Typically offered: Every Fall & Spring
Economic behavior of consumers/firms in domestic/international markets. Demand, supply, competition. Efficiency, Invisible Hand. Monopoly, imperfect competition. Externalities, property rights. Economics of public policy in environment/health/safety. Public goods, tax policy.
ECON 1102 - Principles of Macroeconomics
Credits: 4.0 [max 4.0]
Course Equivalencies: ApEc 1102/Econ 1102/1105/1112
Typically offered: Every Fall, Spring & Summer
Aggregate consumption, saving, investment, and national income. Role of money, banking, and business cycles in domestic and world economy. International trade, growth, and development. U.S. economy and its role in the world economy. International interdependencies among nations. prereq: [1101 or equiv], knowledge of plane geometry and advanced algebra
APEC 1102 - Principles of Macroeconomics
Credits: 3.0 [max 3.0]
Course Equivalencies: ApEc 1102/Econ 1102/1105/1112
Typically offered: Every Spring
Unemployment/inflation, measures of national income, macro models, fiscal policy/problems. Taxes and the national debt. Money/banking, monetary policy/problems. Poverty and income distribution. International trade and exchange rates. Economic growth/development. prereq: 1101 or Econ 1101
MATH 1271 - Calculus I (MATH)
Credits: 4.0 [max 4.0]
Course Equivalencies: Math 1271/Math 1381/Math 1571/
Typically offered: Every Fall, Spring & Summer
Differential calculus of functions of a single variable, including polynomial, rational, exponential, and trig functions. Applications, including optimization and related rates problems. Single variable integral calculus, using anti-derivatives and simple substitution. Applications may include area, volume, work problems. prereq: 4 yrs high school math including trig or satisfactory score on placement test or grade of at least C- in [1151 or 1155]
MATH 1142 - Short Calculus (MATH)
Credits: 4.0 [max 4.0]
Typically offered: Every Fall, Spring & Summer
A streamlined one-semester tour of differential and integral calculus in one variable, and differential calculus in two variables. No trigonometry/does not have the same depth as MATH 1271-1272. Formulas and their interpretation and use in applications. prereq: Satisfactory score on placement test or grade of at least C- in [1031 or 1051]
MATH 1571H - Honors Calculus I (MATH)
Credits: 4.0 [max 4.0]
Course Equivalencies: Math 1271/Math 1381/Math 1571/
Grading Basis: A-F only
Typically offered: Every Fall
Differential/integral calculus of functions of a single variable. Emphasizes hard problem-solving rather than theory. prereq: Honors student and permission of University Honors Program
BA 2551 - Business Statistics in R (MATH)
Credits: 4.0 [max 4.0]
Course Equivalencies: BA 2551/SCO 2550
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
The purpose of the course is to develop skills for improving data-driven decision-making using statistical techniques in the powerful statistical software environment R. As an introductory statistics course, the content will include three main areas of statistics: Descriptive Statistics, Statistical Inference, and Analysis of Relationships with Scatterplots, Correlation and Linear Regression. Developing statistical literacy is increasingly important in understanding data and engaging in the complex business world. BA 2551 focuses on statistical reasoning and how to implement statistical methods in a business context using R. Topics include (but are not limited to) descriptive statistics, statistical inference, variability, sampling, distributions, correlation analysis, confidence intervals, hypothesis testing, graphical summaries of data, and introduction to linear regression. Through weekly in-class lab sessions and critical thinking assignments related to statistics in business, the course will train students to become informed consumers of numerical information and provide foundational skills in R to compute statistical procedures in future courses. We use existing packages in R as a tool to enable us to solve business problems that can leverage mathematical and statistical thinking. prereq: [Math 1031 or equiv]
ACCT 2051 - Introduction to Financial Reporting
Credits: 4.0 [max 4.0]
Course Equivalencies: Acct 2050/ApEc 1251/Dbln 2051
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
This course introduces the topics of financial reporting and accounting. The purpose of financial accounting is to provide information to the entity owners and external parties to serve as the basis for making decisions about that entity. A student who successfully completes this class should be able to 1) understand the concepts and principles of accounting, 2) analyze, record and report the accounting treatment of business transactions, and 3) prepare, interpret, and analyze financial statements.
ACCT 2051H - Honors: Introduction to Financial Reporting
Credits: 4.0 [max 4.0]
Course Equivalencies: Acct 2050/ApEc 1251/Dbln 2051
Grading Basis: A-F or Aud
Typically offered: Every Spring
This course introduces the topics of financial reporting and accounting. The purpose of the financial accounting is to provide information to the entity owners and external parties to serve as the basis for making decisions about that entity. A student who successfully completes this class should be able to 1) understand the concepts and principles of accounting, 2) analyze, record and report the accounting treatment of business transactions, and 3) prepare, interpret, and analyze financial statements.
PSY 1001 - Introduction to Psychology (SOCS)
Credits: 4.0 [max 4.0]
Course Equivalencies: PSTL 1281/Psy 1001/Psy 1001H
Typically offered: Every Fall, Spring & Summer
Scientific study of human behavior. Problems, methods, findings of modern psychology.
BA 2021 - Design Your Career
Credits: 1.0 [max 1.0]
Course Equivalencies: BA 2021/IBus 3006
Grading Basis: S-N only
Typically offered: Every Fall & Spring
The focus of this course is to increase your awareness, knowledge, and skills associated with the career and job search process. The course includes major/career exploration and discovery, as well as the tactical pieces of a job search. You will learn how to write a professional resume and cover letter and will learn how to navigate the interview process. You will be exposed to a variety of individuals who will give you different perspectives on the process, including recruiters from local organizations, alumni, and other business professionals. This development will increase your ability to undertake a successful career and job search in your succeeding years. (Credit will not be granted if credit was received for BA 3000. ) prereq: Carlson School undergraduate student
MATH 1272 - Calculus II
Credits: 4.0 [max 4.0]
Course Equivalencies: Math 1272/Math 1282/Math 1372/
Typically offered: Every Fall, Spring & Summer
Techniques of integration. Calculus involving transcendental functions, polar coordinates. Taylor polynomials, vectors/curves in space, cylindrical/spherical coordinates. prereq: [1271 or equiv] with grade of at least C-
MATH 2243 - Linear Algebra and Differential Equations
Credits: 4.0 [max 4.0]
Course Equivalencies: Math 2243/Math 2373/Math 2574H
Typically offered: Every Fall, Spring & Summer
Linear algebra: basis, dimension, matrices, eigenvalues/eigenvectors. Differential equations: first-order linear, separable; second-order linear with constant coefficients; linear systems with constant coefficients. prereq: [1272 or 1282 or 1372 or 1572] w/grade of at least C-
MATH 2263 - Multivariable Calculus
Credits: 4.0 [max 4.0]
Course Equivalencies: Math 2263/Math 2374/Math 2573H
Typically offered: Every Fall, Spring & Summer
Derivative as linear map. Differential/integral calculus of functions of several variables, including change of coordinates using Jacobians. Line/surface integrals. Gauss, Green, Stokes Theorems. prereq: [1272 or 1372 or 1572] w/grade of at least C-
ACCT 3001 - Strategic Management Accounting
Credits: 3.0 [max 3.0]
Course Equivalencies: Acct 3001/IBus 3002
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Costing techniques, including activity-based costing. Applying costing methods to determine costs of products, services, and production processes. Use of costs in operating/strategic decisions. prereq: ACCT 2051 or 2050
FINA 3001 - Finance Fundamentals
Credits: 3.0 [max 3.0]
Course Equivalencies: ApEc 3501/Fina 3001/Fina 3001H
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
How competition for capital in Capital Markets establishes metrics and measures used to understand financial performance of the firm. The course introduces the finance view of the firm and the application of value creation principles to firm decision making. Course presents the centrality of cash flows, the theoretical foundations for Time Value of Money, decision tools for investment of capital, basic valuation of stocks and bonds, and the theoretical foundations for the impact of risk on the required return on investor capital. prereq: ACCT 2050 or ACCT 2051, SCO 2550 or BA 2551 or equivalent statistics course
HRIR 3021 - Human Capital Management
Credits: 3.0 [max 3.0]
Course Equivalencies: HRIR 3021/HRIR 3021H/IBUS 3021
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
This course will focus on the people side of business. We will look at how, through managing and leading people, we can create an engaged, productive workforce in order to achieve organizational strategic objectives. The content of this course is complementary to any major or minor. Major topics in this course: - Managing people in an ethical, legal way that is aligned with corporate strategy and helps organizations reach their goals; - Successfully attracting, recruiting, and selecting talented people; - Creating interesting, engaging jobs and giving meaningful feedback in order to retain great employees; - Rewarding and motivating people through intrinsic and extrinsic methods to encourage the most effective and "right" kind of employee behaviors to create an engaged, productive workforce through people strategies and practices.
IDSC 3001 - Information Systems & Digital Transformation (TS)
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Information technologies have transformed the way businesses operate and the way consumers interact with businesses. They have enabled organizations to increase efficiency, reduce costs, and reach new customers. Their impact goes beyond the business world and affects nearly every aspect of modern society. Along with the benefits they provide, technologies have created new problems around privacy, security, misinformation on social media, algorithmic bias, and potential stifling of competition and innovation. In today's digital age, it is crucial to develop an understanding of information technologies, their impact on business and society, and the challenges they pose for decision making in commercial firms, government agencies, and public policies. This course is designed to cover a broad range of information technology issues in order to prepare students for the knowledge intensive economy of the 21st century. Students will be exposed to not only the technical aspects of information technologies, but also the social, political, and economic factors that shape its development and use. Through a combination of lectures, discussions, videos, in-class exercises and talks by guest speakers, students will gain an in-depth understanding of how information technologies are shaping businesses and the society as a whole. Students will also develop critical thinking skills to analyze and evaluate the impact of technology on society. Topics include business strategy and disruptive technologies, enterprise systems such as those for Customer Relationship Management, Supply Chain Management and Human Resource Management, electronic and mobile commerce, social media applications and their social impact, cloud computing, data analytics, IT privacy and security, artificial intelligence and its social impact.
MGMT 3001 - Fundamentals of Management
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
This course is about the foundational principles of management, encompassing disciplinary and topical boundaries. We will look at these principles from the perspective of how they guide action, specifically: planning, organizing, leading and controlling. By the end of the course, students will know the basics of how to set up organizations to be effective and innovative, and not just efficient. During the course, you will engage with the material in the course and understand how management frameworks can be used to choose the right internal structures and processes that can best react to your particular industry context and general business environment.
MKTG 3001 - Principles of Marketing
Credits: 3.0 [max 3.0]
Course Equivalencies: Mktg 3001/Mktg 3001H
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Introduction to terms, concepts, and skills for analyzing marketing problems. Factors outside the organization affecting its product, pricing, promotion, and distribution decisions. Cases from actual organizations. prereq: ECON 1101 or ECON 1165
SCO 3001 - Sustainable Supply Chain and Operations
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Sustainable Supply Chain and Operations Management focuses on the design and management of transformation processes to provide products and services to create value for the people, planet, and firm prosperity. On the one hand, supply chain and operations management involves the integration of activities and processes, to facilitate the flows of materials, services, finances, and information to convert inputs into the firms? primary products and services. Operational issues include the design of products and processes, the procurement of raw materials, the control of inventories, the maintenance of quality, the planning of human resources and facilities, and the delivery of products or services, so that customer expectations and needs are met. Operations also have significant interactions with other functional areas of the firm (e.g., finance, marketing, strategy, and accounting). Therefore, understanding the role of the operations function and its impact on the competitiveness of the firm from both tactical and strategic aspects is an important part of any manager's training. This course will introduce students to the fundamental concepts, operations practices, and models in both manufacturing- and service-oriented firms. The course will cover both quantitative and qualitative methods.
BA 3033W - Business Communication (WI)
Credits: 3.0 [max 3.0]
Course Equivalencies: BA 3033W/Mgmt 3033W/IBUS 3033W
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
This course teaches strategies and skills to communicate with confidence, clarity, and impact in business settings. Students develop their abilities in critical thinking (analyzing data, audience, purpose, and context) and craft (honing skills in storytelling, persuasion, writing, diction, tone, presence, data visualization, and visual design). They learn to navigate ambiguity, evaluate the needs of internal and external stakeholders, and communicate solutions to complex business problems. The course is performance- and project-based. Students produce professional-level memos, emails, and research-based proposal decks. They deliver multiple presentations (individual and team) and learn to communicate effectively with data. Students will meet with the instructor in small groups outside of class time for one scheduled lab session. The course culminates in the Case Study Competition where student teams apply their knowledge to address a real challenge from one of our industry partners. prereq: First Year Writing, Carlson School junior or senior.
MGMT 3045 - Understanding the International Environment of Firms: International Business
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Theories, frameworks, tools, and facts for understanding the environment of firms in international competition. Main world-level economic flows (trade, investment, finance). How country-/industry-level economic, political, and sociocultural factors influence behavior/functions of firms in international competition. prereq: MGMT 3001 or 3004
MATH 4065 - Theory of Interest
Credits: 4.0 [max 4.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Time value of money, compound interest and general annuities, loans, bonds, general cash flows, basic financial derivatives and their valuation. Primarily for students who are interested in actuarial mathematics. prereq: 1272 or 1372 or 1572
MATH 5067 - Actuarial Mathematics I
Credits: 4.0 [max 4.0]
Typically offered: Every Fall
Future lifetime random variable, survival function. Insurance, life annuity, future loss random variables. Net single premium, actuarial present value, net premium, net reserves. prereq: 4065, [one sem [4xxx or 5xxx] [probability or statistics] course]
MATH 5068 - Actuarial Mathematics II
Credits: 4.0 [max 4.0]
Typically offered: Every Spring
Multiple decrement insurance, pension valuation. Expense analysis, gross premium, reserves. Problem of withdrawals. Regulatory reserving systems. Minimum cash values. Additional topics at instructor's discretion. prereq: 5067
STAT 5101 - Theory of Statistics I
Credits: 4.0 [max 4.0]
Typically offered: Every Fall
Logical development of probability, basic issues in statistics. Probability spaces. Random variables, their distributions and expected values. Law of large numbers, central limit theorem, generating functions, multivariate normal distribution. prereq: (MATH 2263 or MATH 2374 or MATH 2573H), (MATH 2142 or CSCI 2033 or MATH 2373 or MATH 2243)
STAT 5102 - Theory of Statistics II
Credits: 4.0 [max 4.0]
Typically offered: Every Fall & Spring
Sampling, sufficiency, estimation, test of hypotheses, size/power. Categorical data. Contingency tables. Linear models. Decision theory. prereq: [5101 or Math 5651 or instr consent]
STAT 4101 - Theory of Statistics I
Credits: 4.0 [max 4.0]
Typically offered: Every Fall & Spring
Random variables/distributions. Generating functions. Standard distribution families. Data summaries. Sampling distributions. Likelihood/sufficiency. prereq: Math 1272 or Math 1372 or Math 1572H
STAT 4102 - Theory of Statistics II
Credits: 4.0 [max 4.0]
Typically offered: Every Fall & Spring
Estimation. Significance tests. Distribution free methods. Power. Application to regression and to analysis of variance/count data. prereq: STAT 4101
MATH 5651 - Basic Theory of Probability and Statistics
Credits: 4.0 [max 4.0]
Course Equivalencies: Math 5651/Stat 5101
Typically offered: Every Fall & Spring
Logical development of probability, basic issues in statistics. Probability spaces, random variables, their distributions/expected values. Law of large numbers, central limit theorem, generating functions, sampling, sufficiency, estimation. prereq: [2263 or 2374 or 2573], [2243 or 2373]; [2283 or 2574 or 3283] recommended.
MATH 5652 - Introduction to Stochastic Processes
Credits: 4.0 [max 4.0]
Typically offered: Every Fall & Spring
Random walks, Markov chains, branching processes, martingales, queuing theory, Brownian motion. prereq: 5651 or Stat 5101
INS 4105 - Corporate Risk Management
Credits: 2.0 [max 2.0]
Course Equivalencies: Ins 6105/ Ins 4105
Typically offered: Every Fall & Spring
Theory applied to corporate risk management and insurance practices. Identification, measurement, and treatment of an organization.s financial risks integrated with its property, liability, workers compensation, and human resource risks. Selection and application of risk control and risk financing tools: risk retention, reduction and transfer, including insurance.
INS 4101 - Employee Benefits
Credits: 2.0 [max 2.0]
Course Equivalencies: Ins 6101/ Ins 4101
Typically offered: Every Fall
Design/administration of employee benefit plans/pension. Health insurance, disability plans. Salary reduction/deferred compensation programs. Multiple employer trusts. Alternative funding methods, including self-insurance. Ethical issues, legal liability, compliance.
INS 4205 - Insurance Theory and Practice
Credits: 2.0 [max 2.0]
Typically offered: Every Spring
Risk theory is applied to practices in health, liability, life, property, and workers compensation insurance. Insurance marketing, pricing, underwriting, and claims administration, with adverse selection and moral hazard effects. Policy issues of tort versus no-fault compensation systems. Self-insurance and integrated risk financing methods.
INS 4201 - Personal Financial Management
Credits: 2.0 [max 2.0]
Typically offered: Every Fall
Personal financial planning. Financial statements, cash flow/debt analysis, time value of money. Management of liability, disability, life, medical, and property risks. Investments, portfolio management. Tax reduction, employee benefits, retirement/estate planning. Ethical issues, regulation of financial planners.