BSU Actuarial Science Courses

Undergraduate Actuarial Related Courses
165 Calculus 1. (4) top
Differential calculus of algebraic and transcendental functions and applications, antidifferentiation and the Riemann integral. Includes the use of graphing calculators and computer software.
Prerequisite: high school precalculus or MATHS 117.

166 Calculus 2. (4) top
Standard techniques of integration, applications of the integral, sequences and series, indeterminate forms, and numerical methods. Includes the use of graphing calculators and computer software.
Prerequisite: MATHS 165.

215 Discrete Systems. (4) top
Topics from discrete mathematics, including formal logic, methods of proof, set theory, relations, recursion, combinatorics, and graph theory. A systematic development of number systems via equivalence classes is included as an application of these topics.
Prerequisite: MATHS 165 or permission of the department chairperson.

217 (212) Linear Algebra. (4) top
Theory and application of systems of linear equations, vector equations, linear transformations, vector spaces, and inner product spaces. Includes the use of computer software.
Prerequisite: MATHS 162 or 165 or permission of the department chairperson.

267 Calculus 3. (4) top
Multidimensional calculus and its applications. Topics include three-dimensional vector calculus, Gauss's theorem, Green's theorem, and Stoke's theorem. Includes the use of graphing calculators and computer software.
Prerequisite: MATHS 166.

320 Probability. (4) top
Probability theory for discrete and continuous sample spaces, random variables, density functions, distribution functions, marginal and conditional distributions, mathematical expectation, moment-generating functions, common distributions, sampling distribution theory, central limit theorem, and t, chi-square, and F distributions.
Prerequisite: MATHS 166, 215.

321 Mathematical Statistics. (4) top
Point and interval estimation, maximum likelihood, Neyman-Pearson Lemma, likelihood ratio tests, classical tests of significance, goodness-of-fit, contingency tables, correlation, regression, nonparametric methods, Bayesian methods.
Prerequisite: MATHS 320.

351 Mathematics of Finance. (4) top
Mathematical theory of force of interest, compound interest, annuities, equations of value, amortization, sinking funds, bonds, depreciation, current actuarial topics in finance.
Prerequisite: MATHS 162 or 166 or permission of the department chairperson.

355 (324) Problems in Actuarial Science. (2) top
Limits, continuity, differentiability, integrability, series, sequences, derivatives, integrals, partial derivatives, and multiple integrals. Axioms of probability, random variables, conditional probability, Bayes's theorem, joint and conditional probability distributions and expectations. Loss frequency, loss severity, retention, deductible, coinsurance, and risk premium.
Prerequisite: MATHS 267; INS 270.
Prerequisite or parallel: MATHS 321.

368 Unpaid Professional Experience in Mathematical Sciences. (1-8) top
Supervised unpaid work and learning experience as a practicing mathematician, statistician, or actuarial scientist. Practical problem-solving experience will be gained through an internship, practicum, or other such situation.
Prerequisite: permission of the department chairperson.
A total of 8 hours of credit may be earned in MATHS 368 and 369 combined.

369 Paid Professional Experience in Mathematical Sciences. (1-8) top
Supervised paid work and learning experience as a practicing mathematician, statistician, or actuarial scientist. Practical problem-solving experience will be gained through an internship, practicum, or other such situation.
Prerequisite: permission of the department chairperson.
A total of 8 hours of credit may be earned in MATHS 368 and 369 combined.

388 Honors Colloquium in Mathematics. (1-6) top
Selected topics in mathematics with emphasis on individualized study.
A total of 6 hours of credit may be earned.

422 Theory of Sampling and Surveys. (3) top
Survey designs; simple random, stratified, cluster, and systematic sampling; ratio estimates; regression estimates; cost and variance functions.
Prerequisite: MATHS 321 or its equivalent.

428 Topics in Statistics. (3) top
Includes such topics as one- and two-way ANOVA, multiple comparisons, regression analysis, time series analysis.
Prerequisite: MATHS 321 or its equivalent.

429 Analysis of Variance in Experimental Design Models. (3) top
Multivariate normal distribution; quadratic forms; linear models; simple random, randomized block, Latin squares, factorial, split-plot, balanced incomplete block design; analysis of covariance; confounding; multiple comparison tests.
Prerequisite: MATHS 321 or its equivalent.

452 Mathematics of Life Contingencies 1. (4) top
Survival distributions, life tables; the mathematics of life insurance, life annuities, net premiums, and net premium reserves.
Prerequisite: MATHS 321, 351, and a minimum grade-point average of 2.5 in all mathematics courses that are to be applied to the major.

453 Mathematics of Life Contingencies 2. (4) top
Mathematics of multiple life functions, multiple decrement models, valuation theory for pension plans, insurance models including expenses, nonforfeiture benefits, and dividends.
Prerequisite: MATHS 452.

457 (454) Credibility Theory. (4) top
Loss distributions; making inferences from insurance data; limited expected value; loss elimination ratio and excess ratio; frequency distributions; classical, Bayesian, and Buhlmann credibility models; connections between credibility theory and experience rating; assumptions underlying different methods.
Prerequisite: MATHS 321.

458 Practicum in Actuarial Science. (2) top
Presentations by and discussions with practicing actuaries on problems drawn from their fields of expertise, including life insurance, casualty insurance, health insurance, and professional ethics. Completion of authentic, meaningful projects identified by participating actuaries.
Prerequisite: MATHS 351 or 551; INS 270 or 597; or permission of the department chairperson.

465 Computational Techniques of Financial Mathematics. (3) top
Financial derivatives, including options, futures and forwards, and their use in financial markets, emphasizing the study of mathematical models used in pricing of these derivatives, differential equations techniques for their solutions, risk neutral valuation Monte Carlo simulation.
Prerequisite: MATHS 320, 363; FIN 350 (senior standing is suggested).

471 Advanced Calculus 1. (3) top
Metric spaces, topological concepts in IR and C leading to consideration of connectedness, compactness and completeness, continuous functions, uniform continuity, Stone-Weierstrass theorem, differentiation.
Prerequisite: MATHS 217, 267.

472 Advanced Calculus 2. (3) top
Topics include the Riemann-Stieltjes integral, series of real and complex numbers and functions, series expansions. Prerequisite: MATHS 471.

498 Senior Seminar. (2) top
A variety of topics in mathematics presented by three faculty members will be studied and discussed. A short paper on one of the three topics presented to the class is required.
Prerequisite: major in one of the mathematical sciences and senior standing or permission of the department chairperson.

Graduate Actuarial Related Courses
522 Theory of Sampling and Surveys. (3) top
Survey designs; simple random, stratified, cluster, and systematic sampling; ratio estimates; regression estimates; cost and variance functions.
Prerequisite: MATHS 321 or its equivalent.

528 Regression and Time Series Models. (3) top
Includes such topics as one- and two-way ANOVA, multiple comparisons, regression analysis, time series analysis.
Prerequisite: MATHS 321 or its equivalent. Not open to students who have credit in MATHS 428

529 Analysis of Variance in Experimental Design Models. (3) top
Multivariate normal distribution; quadratic forms; linear models; simple random, randomized block, Latin squares, factorial, split-plot, balanced incomplete block designs; analysis of covariance; confounding; multiple comparison tests.
Prerequisite: MATHS 321 or the equivalent. Not open to students who have credit in MATHS 429. 551 Mathematics of Finance. (4) top
Mathematical theory of force of interest, compound interest, annuities, equations of value, amortization, sinking funds, bonds, depreciation, current actuarial topics in finance.
Prerequisite: MATHS 162 or 166 or permission of the department chairperson. Not open to students who have credit in MATHS 351.

552 Mathematics of Life Contingencies 1. (4) top
Survival distributions, life tables; the mathematics of life insurance, life annuities, net premiums, and net premium reserves.
Prerequisite: MATHS 321, 351, and a minimum grade-point average of 2.5 in all mathematics courses that are to be applied to the major.

553 Mathematics of Life Contingencies 2. (4) top
Mathematics of multiple life functions, multiple decrement models, valuation theory for pension plans, insurance models including expenses, nonforfeiture benefits, and dividends.
Prerequisite: MATHS 452.

557 (454) Credibility Theory. (4) top
Loss distributions; making inferences from insurance data; limited expected value; loss elimination ratio and excess ratio; frequency distributions; classical, Bayesian, and Buhlmann credibility models; connections between credibility theory and experience rating; assumptions underlying different methods.
Prerequisite: MATHS 321.

558 Practicum in Actuarial Science. (2) top
Presentations by and discussions with practicing actuaries on problems drawn from their fields of expertise, including life insurance, casualty insurance, health insurance, and professional ethics. Completion of authentic, meaningful projects identified by participating actuaries.
Prerequisite: MATHS 351 or 551; INS 270 or 597; or permission of the department chairperson.

568 Unpaid Professional Experience in Mathematical Sciences. (1-8) top
Supervised unpaid work and learning experience as a practicing mathematician, statistician, or actuarial scientist. Practical problem-solving experience will be gained through an internship, practicum, or other such situation.
Prerequisite: permission of the department chairperson.
A total of 8 hours of credit may be earned in MATHS 368 and 369 combined.

569 Paid Professional Experience in Mathematical Sciences. (1-8) top
Supervised paid work and learning experience as a practicing mathematician, statistician, or actuarial scientist. Practical problem-solving experience will be gained through an internship, practicum, or other such situation.
Prerequisite: permission of the department chairperson.
A total of 8 hours of credit may be earned in MATHS 368 and 369 combined.

620 Probability. (4) top
Probability theory for discrete and continuous sample spaces, random variables, density functions, distribution functions, marginal and conditional distributions, mathematical expectation, moment-generating functions, common distributions, sampling distribution theory, central limit theorem, and t, chi-square, and F distributions.
Prerequisite: MATHS 166, 215.

621 Mathematical Statistics. (4) top
Point and interval estimation, maximum likelihood, Neyman-Pearson Lemma, likelihood ratio tests, classical tests of significance, goodness-of-fit, contingency tables, correlation, regression, nonparametric methods, Bayesian methods.
Prerequisite: MATHS 320.

625 Probability Theory and Applications. (4) top
Basic probability theory, random variables, conditional probability and conditional expectation, Poisson process, interarrival time and waiting time distributions.
Prerequisite: MATHS 166 or equivalent.

655 Problems in Actuarial Science. (2) top
Limits, continuity, differentiability, integrability, series, sequences, derivatives, integrals, partial derivatives, and multiple integrals. Axioms of probability, random variables, conditional probability, Bayes"s theorem, joint and conditional probability distributions and expectations. Loss frequency, loss severity, retention, deductible, coinsurance, and risk premium.
Prerequisite: MATHS 267; INS 270.
Prerequisite or parallel: MATHS 321.

657 Survival Models (4) top
Basic functions related to survival models, common parametric models, maximum likelihood estimation for censored or truncated data, nonparametric estimation, hypothesis testing, models with covariables, exposure to risk, practical aspects of tabular survival models.
Parallel: MATHS 552

658 Risk Theory. (4) top
Individual and collective risk theory. Probability of ruin. Probability distributions of random variables.
Prerequisite : MATHS 552.

659 Research in Actuarial Science. (3) top
Research study in actuarial subjects of current interest in life, property/casualty, health, and/or pension. Literature searches on selected topics. Articles from research journals will be read and discussed. Will use actuarial skills from several courses. A paper will be required.
Prerequisite: MATHS 552