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Actuarial Mathematics (B.S.)

The actuarial mathematics major is specifically designed for students who wish to pursue an actuarial field, pursue graduate work in financial mathematics, or employment in a mathematics or statistics-related field.  

Actuarial Mathematics (B.S.)


Description


What is Actuarial Mathematics at ODU like?

The actuarial mathematics major is specifically designed for students who wish to pursue an actuarial field, pursue graduate work in financial mathematics, or employment in a mathematics or statistics-related field.  

Program Highlights


What makes Actuarial Mathematics at ODU unique?

  • The inclusion of a minor in Risk Management and Insurance introduces the student to specific uses of Actuarial Mathematics.

  • The combination of Applied Mathematics and Statistics expands the student’s knowledge of solution methods for Risk Analysis.

  • The inclusion of computational analytical methods introduces the student to computer modeling.

Careers


What are some careers in this field?

Check out these ideas from ODU Career Development Services and the Occupational Information Network (O*NET). A median salary is the midpoint of what people typically earn—half of those surveyed earned above the median salary, and half earned below.

Actuaries

$114,850

MEDIAN SALARY


Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.

Financial Analysts

$99,430

MEDIAN SALARY


Conduct quantitative analyses of information affecting investment programs of public or private institutions.

Risk Management Specialists

$76,630

MEDIAN SALARY


Analyze and manage risk management issues by identifying, measuring, and making decisions on operational or enterprise risks for an organization.

Courses


What are some courses offered in Actuarial Mathematics at ODU?

STAT 405:
Introduction to Data Handling


Use of SAS and R to handle data sets. Topics for SAS include data input, creating permanent data sets, merging data sets, creating new variables, sorting, printing, charting, formatting, IML programming, macro programming, and an overview of proc SQL and other statistical procedures. Topics for R include data structure, control structure, writing functions, and graphics. Prerequisites: grade of C or better in STAT 130M or equivalent and a grade of C or better in MATH 316 or equivalent or permission of instructor.

STAT 460:
Statistical Simulation/Programming Using Statistical Software Packages


This course is a data-based tour of advanced statistical techniques using software packages, exploring a catalog of data sets |simulated or otherwise) spanning a variety of fields and applications, including data suitable for regression, ANOVA, time series modeling, longitudinal data analysis, and multivariate techniques. Approaches will include parametric, nonparametric, simulation, and bootstrapping. SAS and R |S-plus) will be used extensively, with some other specialized products. For writing actual |not packaged) code, PROC IML and R will be used. This is a finishing course for applied statisticians, highly recommended for students planning a career in statistical programming and simulation. Prerequisites: A grade of C or better in STAT 405/STAT 505 and two of STAT 435/STAT 535, STAT 437/STAT 537, STAT 447/STAT 547 and STAT 450/STAT 550.

MATH 409:
Applied Numerical Methods II


Topics include least squares problems, the QR factorization, the conjugate gradient method, Householder transformation and the QR method for approximating eigenvalues and singular values of a matrix. For applications, the finite difference method and the finite element method for solving partial differential equations, trigonometric interpolation and FFT as well as introductory study of optimization are discussed. Prerequisites: A grade of C or better in MATH 408/MATH 508.

Requirements


What are the requirements to apply for Actuarial Mathematics at ODU?

Students entering the Bachelor of Science program in Actuarial Mathematics should meet the minimum university admission requirements (Undergraduate Admission)

  • Math Core courses: 34 credits (GPA of 2.3)

  • Actuarial Math specific courses: 18 credits

  • Minor in Risk Management and Insurance

Cost

Tuition and Fees

Estimated rates for the 2022-23 academic year. Rates are subject to change. Anyone that is not a current Virginia resident will be charged non-resident rates. That includes international students.

Virginia Resident


Per Credit:

$ 374

Non-Resident


Per Credit:

$ 1,039

Active Duty Military Rate


Per Credit:

$ 250

Technology Delivered Courses Outside Virginia and/or the United States


Per Credit:

$ 407

Ways to Save

Here are a few ways for you to save on the cost of attending ODU. For more information visit University Student Financial aid

Next Steps


I like this program. What are the next steps?

Contact


Need help applying?

Meet Your Enrollment Team

Our enrollment coordinators are ready to help you through the admissions process.

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MASTER LECTURER


Name:

Robert Strozak


Location:

2003H STROME ENTREPRENEURIAL CTR, NORFOLK, VA, 23529



Office:

757-683-3913


Undergraduate Admissions


Location:

1004 Rollins Hall, Norfolk, VA 23529


Phone Office:

757-683-3685


Fax:

757-683-3255


Email:

admissions@odu.edu


International Admissions


Location:

2101 Dragas Hall, Norfolk, VA 23529


Phone Office:

757-683-3701


Fax:

757-683-3651


Email:

intladm@odu.edu

Transfer


I like this program and want to transfer. What are my next steps?

At ODU, we understand that as a transfer student you have unique needs that require a wide array of campus resources. The Center for Advising Administration and Academic Partnerships aims to create a transfer inclusive culture that supports the successful transition, engagement, and academic achievement of transfer students. The services and programs offered to you as a Monarch are endless so take advantage of every opportunity. Even before you set foot on campus, we encourage you to Explore, Experience, and Engage! Visit our Transfer Students page for more information.

Additional Programs


Are there other programs at ODU I may be interested in?

With over 120 undergraduate programs, 130 graduate programs at the master'seducation specialist and doctoral levels plus a wealth of certificate and professional development programs, Old Dominion University has the program for you. Visit our academic program listing page to see other programs ODU has to offer.

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