The Financial and Actuarial Mathematics minor is intended for students interested in obtaining a deep and technical knowledge in the intersection of probability, statistics, economics and finance. The program develops each student’s problem solving, critical thinking, and communication skills within the liberal arts framework. The program introduces students to analytical, statistical and financial techniques used to understand, quantify, evaluate and manage risk. These techniques have applications in a broad range of industries but are particularly useful in insurance and actuarial science (life, property, casualty, health), finance, and financial engineering (pension management, pricing of financial instruments), and risk management (modeling climate change, managing public social programs).
Before taking the required courses in the minor, students should complete the prerequisite courses as soon as possible. Prerequisites include Calculus through MTH 117 (or IMP 121 ), MTH 199 or MTH 197 , and ECO 101 .
Students interested in this minor are recommended to take all the prerequisite courses preferably by the end of their winter term of their sophomore year.