Actuarial Science, M.A.S.

Return to: 7210 Maurice R. Greenberg School of Risk Science

Stefanos Orfanos, Faculty Director, 404-413-7485, sorfanos@gsu.edu

Actuarial Science is a discipline that employs mathematics and statistics when modeling the financial impacts of risk and uncertainty in various sectors of the economy, and in designing solutions to manage risks. Most professional actuaries have careers that are associated with the insurance industry, though growing numbers work in other fields. The mission of the MAS degree program is to train students in the theory and practice of actuarial science through a specialized program of study. The program is designed to teach students both the core actuarial theory and the latest developments in actuarial practice.

In addition to the MAS program, two dual-degree options are available: one where students will earn both the Master of Actuarial Science degree and the Master of Science in Quantitative Risk Analysis and Management (QRAM); and one where students will earn both the Master of Actuarial Science (MAS) degree and the Master of Science in Analytics (M.S.A.).

The rapid integration of insurance and financial services and the increasing acceptance of enterprise risk management in broad sectors of the economy imply that risk professionals need to master the understanding of risks associated with assets, liabilities and business operations. This requires a set of integrated skills in actuarial risk modeling, financial risk modeling, and enterprise risk management. The dual degree program in MAS/QRAM is designed to serve the growing need for graduates who 1) have solid quantitative skills in both actuarial risk modeling and financial risk modeling, and 2) understand the business contexts and possess the necessary communication skills for solving complex risk issues.

Similarly, there is an increasing need for graduates an expertise in data analytics in the insurance field. The ongoing data revolution associated with the ever-increasing collection of data and use in the business process and decisions makes analytics skills relevant in all areas of business. The dual degree program MAS/MSA is designed to serve the need for actuarial graduates with analytics skills.

Degree Requirements

Regulations for the Degree

A maximum of 9 semester hours of transfer credit is possible in this 30-hour program or in the 48-hour dual degree program.

Foundation Requirements

These courses are in addition to the 30 hours required for the M.A.S. degree or in addition to the 48 hours required for the dual degree programs. They are assigned as part of the admissions process based on a review of each student’s transcripts.

Mathematics

Students must have completed three semesters of calculus (MATH 2211, MATH 2212, and MATH 2215 or equivalent).

Statistics

Students should have completed two semesters of undergraduate mathematical statistics (MATH 4751 and MATH 4752 or equivalent). Alternatively, these requirements can be satisfied by taking MSA 8190 .

Course Requirements:

This section is applicable to students interested in the Master of Actuarial Science Degree. Students interested in the dual degree programs should refer to the MAS/QRAM or the MAS/MSDA sections of the University Catalog

Introductory Courses (take all courses except as noted below)

Note: Introductory courses are required, but students with prior mastery of any such course as determined by the program director at the time of admission) should replace it with an elective course from insurance, actuarial & analytics, or financial & risk.

AS 8140 - Probability 3 Credit Hours
AS 8230 - Financial Mathematics 3 Credit Hours
ECON 8740 - Applied Statistics and Econometrics 3 Credit Hours
MSA 8010 - Data Programming for Analytic 3 Credit Hours

Program of Study

Each student’s program must be planned in consultation with a faculty adviser in actuarial science and a copy of the program filed with the Office of Graduate Recruiting and Student Services for review and approval. Progress toward the degree, including clearance for graduation, cannot be confirmed without an approved program of study. The program of study should be planned before the student takes a non required course. Any changes in the program must be approved by the faculty adviser and a copy of the changes sent to the GRSS.

Time Limit

The time limit for completing the MAS program is five years from the first semester a course in section 3 is taken.

Actuarial Science, M.A.S.

Degree Requirements

Regulations for the Degree

Foundation Requirements

Mathematics

Statistics

Course Requirements:

Introductory Courses (take all courses except as noted below)

Core Requirements (3 courses, 9 credit hours)

Insurance Electives (at least 1 course, 3 credit hours)

Actuarial & Analytics Electives (at least 1 course, 3 credit hours)

Financial & Risk Electives (at least 1 course, 3 credit hours)

English Communication (if desired, no MAS credit)

Program of Study

Time Limit