Actuarial Science Major

The field of actuarial science applies mathematical principles and techniques to problems in the insurance industry. Progress in the field is generally based upon completion of examinations given by the Society of Actuaries. The Baruch College major is designed to prepare students to pass the first two exams of the Society of Actuaries year 2000 exam structure and to provide partial preparation for the third exam. Students interested in this highly structured program are urged to contact the Department of Mathematics as early as possible so that the department may assign an advisor to aid in formulating an appropriate course of study.

Prerequisites

Track I:                                                                                                                        credits
MTH 2610       Calculus I  4 credits
MTH 3010       Calculus II 4 credits
MTH 3020       Intermediate Calculus  4 credits
or

Track II:
MTH 2630       Analytic Geometry and Calculus I 5 credits   
MTH 3030       Analytic Geometry and Calculus II 5 credits
or

Track III:
MTH 2205       Applied Calculus  3 credits
or
MTH 2207       Applied Calculus with Matrix Applications 4 credits
and
MTH 3006       Integral Calculus  4 credits
MTH 3030       Analytic Geometry and Calculus II   5 credits

In addition to the courses above, the following two prerequisite course:

ECO 1001 Micro-Economics 3 credits

ECO 1002 Macro-Economics 3 credits

Required Courses

MTH 3020 Intermediate Calculus 4 credits or MTH 3030 Analytic Geometry and Calculus II 5 credits

MTH 3300 Algorithms, Computers, and Programming I 3 credits

MTH 4120 Introduction to Probability 4 credits

MTH 4410 Theory of Interest 3 credits

MTH 4500 Mathematical Finance 4 Credits

FIN 3000 Principles of Finance 3 credits

FIN 3610 Corporate Finance 3 credits

In addition, one course must be chosen from the following list of electives:

Electives

MTH 4125* Stochastic Processes 4 credits

MTH 4130 Mathematics of Statistics 4 credits

MTH 4135* Methods of Monte Carlo Simulation 3 credits

MTH 4420 Actuarial Mathematics 4 credits

MTH 4421 Actuarial Mathematics II 4 credits

MTH 4451 Risk Theory 4 credits

* Actuarial science majors are encouraged to select this course.

MATHEMATICS MAJOR                                                          
The major in mathematics is designed to enable the student to enter the marketplace (industrial or educational) or to pursue further studies in mathematics or allied fields at the graduate level.  Interested students are urged to contact the Department of Mathematics as early as possible.  The student will be assigned an advisor who will aid in formulating an appropriate course of study.  Students who want to teach mathematics in the secondary schools should consult an advisor in the Center for Advisement and Orientation.

Required Courses:
Students may fulfill their calculus requirements by any of the following three alternate calculus tracks:

Track I:                                                                                                                        credits
MTH 2610       Calculus I  4 credits
MTH 3010       Calculus II 4 credits
MTH 3020       Intermediate Calculus  4 credits
or

Track II:
MTH 2630       Analytic Geometry and Calculus I 5 credits   
MTH 3030       Analytic Geometry and Calculus II 5 credits
or

Track III:
MTH 2205       Applied Calculus  3 credits
or
MTH 2207       Applied Calculus with Matrix Applications 4 credits
and
MTH 3006       Integral Calculus  4 credits
MTH 3030       Analytic Geometry and Calculus II   5 credits

All students must take the following two courses.
MTH 3300       Algorithms, Computers and Programming I  3 credits
MTH 4100       Linear Algebra   3 credits

Electives:
Any five 4000-level or 5000-level courses from the following group:

MTH 4010       Advanced Calculus I  3 credits
MTH 4110       Ordinary Differential Equations 3 credits
MTH 4120       Introduction to Probability 4 credits
MTH 4125       Stochastic Process  3 credits
MTH 4130       Mathematics of Statistics 3 credits
MTH 4135       Methods of Monte Carlo Simulation 3 credits
MTH 4140       Graph Theory 3 credits
MTH 4145       Mathematical Modeling*  3 credits
MTH 4150       Combinatorics 3 credits
MTH 4200       Theory of Numbers 3 credits
MTH 4210       Elements of Modern Algebra 3 credits
MTH 4230       History of Mathematics 3 credits
MTH 4240       Differential Geometry*  3 credits
MTH 4300       Algorithms, Computers and Programming II* 3 credits

MTH 4310       Methods of Numerical Analysis 3 credits
MTH 4315       Mathematical Logic 3 credits
MTH 4320       Fundamental Algorithms 3 credits
MTH 4500       Introduction to Financial Mathematics 4 credits
MTH 5010       Advanced Calculus II*  3 credits
MTH 5020       Theory of Function of a Complex Variable* 3 credits
MTH 5030       Theory of Functions of Real Variables* 3 credits
MTH 5100       Partial Differential Equations                 
                        and Boundary Value Problems* 3 credits

* These courses are offered infrequently, subject to student demand.

Math of Finance Concentration:
Students who wish to have a concentration in the Mathematics of Finance should choose the following five electives:

MTH 4110       Ordinary Differential Equations  3 credits
MTH 4120       Introduction to Probability 4 credits
MTH 4125       Stochastic Process 3 credits
MTH 4135       Methods of Monte Carlo Simulation  3 credits
MTH 4500       Introduction to Financial Mathematics  4 credits

In addition, students must take
ECO 1001       Micro Economics 3 credits
ECO 1002       Macro-Economics 3 credits
FIN  3000        Principles of Finance  3 credits
FIN  3610        Corporate Finance 3 credits