Master of science in actuarial science brochure
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Master of Science in
LETTER from the department chair
Dear Prospective Student,
Greetings and welcome to the exciting field of actuarial science. Year after year, the Jobs Rated Almanac places "actuary" near the very top on the list of the 250 best occupations in the United States--based on criteria such as work environment, income, employment outlook, physical demands, security, and stress.
The master's in Actuarial Science at Boston University's Metropolitan College opens the door to rewarding careers in industries such as finance, insurance, health care, business, marketing, research, accounting, and management. Our program is unique in that we combine education in actuarial theory and related mathematics with real-world problems derived from the experience of our renowned faculty, many of whom work as actuaries. Our curriculum prepares students to excel on the Society of Actuaries (SOA) and Casualty Actuarial Society (CAS) exams, and ensures that graduates are successful in the many opportunities available to them as practicing actuaries.
We hope you will join other graduate students from around the world in this challenging learning environment, where you will obtain the best preparation for a rewarding career as an actuary.
Best of luck to you,
Lois K. Horwitz Chair, Department of Actuarial Science Associate Professor of the Practice of Actuarial Science MA, University of Rochester; BA, Brandeis University Fellow, Society of Actuaries Member, American Academy of Actuaries 2
Boston University Metropolitan College's Master of Science in Actuarial Science prepares students for careers as actuaries by providing solid academic training and specialized courses in actuarial science, probability, mathematics, and statistics. Our highly qualified faculty members are able to share first-hand knowledge from their own careers as actuaries. Students develop the skills to embrace the complex and delicate decisions that face actuaries--decisions that often have far-reaching social implications.
The Actuarial Science program is offered on Boston University's Charles River Campus in historic Boston, Massachusetts. Classes are held during evening hours (with some available during the day as well), allowing students to pursue their studies without compromising their careers or giving up other obligations. In addition to the convenience of the schedule, Metropolitan College students enjoy the extensive resources of Boston University, a world-renowned academic and research institution.
What does an
Actuaries use quantitative skills to analyze data from the past and present, in order to help others make prudent and intelligent financial decisions for the future. By calculating the financial impact of uncertain events--from catastrophes to rates of mortality, disability, and fertility--actuaries enable businesses to adjust their long-term management strategies accordingly. Actuaries work for life, health, and property/ casualty insurance companies, as well as for consulting firms, government agencies, accounting firms, industrial corporations, banks, and financial services companies.
Isabelle Agbassi MET'09 Wealth Advisor Associate, Morgan Stanley
"What I really appreciated throughout the actuarial science program was the opportunity to learn many business, technical, and complex quantitative topics from professionals. For instance, one professor introduced complex ideas such as fixed income management by showing us many tools he used on a daily basis at work. These presentations gave us a thorough understanding of the different issues we will face in the actuarial field, and risk management in general. It particularly helped me in my job."
An International Community
The Boston University community welcomes students from all 50 states and more than 139 countries. In fact, BU has one of the largest international student populations-- almost 20 percent--of any U.S. university. As a result, our campus is truly diverse and vibrant.
Having such a global-minded student body ensures that the learning process is informed by a variety of different perspectives. In our classrooms, graduate students and working professionals study side by side, ensuring that the exchange of ideas in the classroom is rooted in a diverse range of cultural and social experiences--and that the pedagogical content of each class is enriched by each student's life history, academic training, or professional qualifications.
Outside of the classroom, there are many opportunities to get involved in the BU community. There are 500 student organizations on campus, and many programs and events--so there is something for every interest. You can find a list of organizations and events at the Student Activities website: bu.edu/studentactivities
A Dynamic City
Boston attracts students and visitors from around the world. A city with international flair as well as a distinctly American flavor, Boston is an academic center, a thriving business capital, a historical treasure trove, and home to an array of cultural institutions. And Boston University is situated in the heart of it all.
From the modern skyscrapers of the financial district and the cobblestone streets of Beacon Hill, to famous parks such as the Public Garden and the Boston Common, Boston offers a wide variety of cultural and recreational opportunities. Each neighborhood in Boston has a distinct personality, from the bustle of Chinatown or the European charm of the North End to the stately avenues of Back Bay and the lively atmosphere of Harvard Square.
Boston is easy to explore on foot or by subway. Museums, theatres, galleries, shopping districts, and major universities are all within walking distance of Boston University. Local restaurants offer authentic cuisine from around the globe, and there are plenty of choices when it comes to nightlife.
Outdoor activities abound as well. Along the Charles River Esplanade there are jogging and cycling paths, outdoor concerts, and views of the city. The parks that comprise the Frederick Law Olmsteddesigned "Emerald Necklace" wind through the city from the Public Garden to Franklin Park. Getting out of Boston is easy, too-- the New England coastline, mountains, and countryside are accessible by car, bus, and rail.
THE MASTER OF SCIENCE (MS) IN
The master's program in Actuarial Science offers concentrations in Insurance and Mathematical Finance. Students may select either concentration depending on their areas of interest and preparation.
dual degree options
In appreciation of the converging nature of management skills and technology, the Actuarial Science department has a special relationship with Metropolitan College's departments of Administrative Sciences and Computer Science. Students wishing to pursue a dual degree in Actuarial Science and Administrative Studies, Computer Information Systems, Computer Science, or Telecommunication may apply eight credits from their Actuarial Science degree toward a second degree, thereby reducing their work by two courses.
Students must be accepted by both departments, but may request that application materials such as references and transcripts be forwarded from the first program to the second.
Candidates must complete a total of 43 credits. In addition to a computer laboratory course (MET AT 602), a minimum of ten courses (40 credits) at the 500 level or above is required, and should be selected from the following lists of core courses and core elective courses. Courses are 4 credits unless noted otherwise.
academic standing Minimum passing grade for a course in the graduate program is C, but an average grade of B must be maintained to satisfy the degree requirements.
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