Campuses:
This is archival data. This system was retired as of August 21, 2023 and the information on this page has not been updated since then. For current information, visit catalogs.umn.edu.
Twin Cities Campus
Actuarial Science B.S.B.Finance
Curtis L. Carlson School of Management
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:
Admission Requirements
Students must complete
50 credits
before admission to the program.
A GPA above 2.0 is preferred for the following:
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
Required prerequisites
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)
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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Credits: | 4.0 [max 4.0] |
Course Equivalencies: | Econ 1101/1165 ApEc 1101/1101H |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | Econ 1101/1165 ApEc 1101/1101H |
Typically offered: | Every Fall & Spring |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | ApEc 1102/Econ 1102/1105/1112 |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 3.0 [max 3.0] |
Course Equivalencies: | ApEc 1102/Econ 1102/1105/1112 |
Typically offered: | Every Spring |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | Math 1271/Math 1381/Math 1571/ |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | Math 1271/Math 1381/Math 1571/ |
Grading Basis: | A-F only |
Typically offered: | Every Fall |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | BA 2551/SCO 2550 |
Grading Basis: | A-F or Aud |
Typically offered: | Every Fall & Spring |
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 |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | Acct 2050/ApEc 1251/Dbln 2051 |
Grading Basis: | A-F or Aud |
Typically offered: | Every Spring |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | PSTL 1281/Psy 1001/Psy 1001H |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 1.0 [max 1.0] |
Course Equivalencies: | BA 2021/IBus 3006 |
Grading Basis: | S-N only |
Typically offered: | Every Fall & Spring |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | Math 1272/Math 1282/Math 1372/ |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | Math 2243/Math 2373/Math 2574H |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | Math 2263/Math 2374/Math 2573H |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 3.0 [max 3.0] |
Course Equivalencies: | Acct 3001/IBus 3002 |
Grading Basis: | A-F or Aud |
Typically offered: | Every Fall, Spring & Summer |
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 |
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 |
Credits: | 3.0 [max 3.0] |
Grading Basis: | A-F or Aud |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 3.0 [max 3.0] |
Grading Basis: | A-F or Aud |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 3.0 [max 3.0] |
Course Equivalencies: | Mktg 3001/Mktg 3001H |
Grading Basis: | A-F or Aud |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 3.0 [max 3.0] |
Grading Basis: | A-F or Aud |
Typically offered: | Every Fall & Spring |
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 |
Credits: | 2.0 [max 2.0] |
Grading Basis: | A-F or Aud |
Typically offered: | Every Fall & Spring |
Credits: | 4.0 [max 4.0] |
Grading Basis: | A-F only |
Typically offered: | Every Fall & Spring |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Fall |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Spring |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Fall |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Fall & Spring |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Fall & Spring |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Fall & Spring |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | Math 5651/Stat 5101 |
Typically offered: | Every Fall & Spring |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Fall & Spring |
Credits: | 2.0 [max 2.0] |
Course Equivalencies: | Ins 6105/ Ins 4105 |
Typically offered: | Every Fall & Spring |
Credits: | 2.0 [max 2.0] |
Course Equivalencies: | Ins 6101/ Ins 4101 |
Typically offered: | Every Fall |
Credits: | 2.0 [max 2.0] |
Typically offered: | Every Spring |
Credits: | 2.0 [max 2.0] |
Typically offered: | Every Fall |