The Mathematical Economics
Major and Careers in Actuarial
Science
Dr. Jason Owen
Department of Mathematics and Computer
Science
About Me
• Ph.D. in Statistics, University of
South Carolina
• Faculty UNH 1997-2002
• Faculty UR 2002-present
• Teach courses on statistics (all
levels) and financial mathematics
• personal stuff
Mathematical Economics
major
Basics:
– B.S. degree (interdisciplinary)
– equal weight of math/stat and econ
– more cohesive than a separate major
and minor
– includes a capstone course (research
based)
Coursework
Math
Econ
• calculus I, II, multivariate
• linear algebra
• probability, mathematical
statistics
• intro. to computing
• upper-level elective
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•
intro micro/macro
micro/macro theory
econometrics
mathematical economics
upper-level elective
Plus the Capstone experience (senior year)
Honors program also available
Possible career paths
• any job that specifies “business
majors only” – but set yourself
apart!
• business careers that demand
more math, e.g. financial engineer
• graduate study in economics
• actuary
What is an actuary?
• Definition: a business professional who
analyzes the financial consequences of
risk
• Main employers:
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insurance companies
consulting firms
government
HR departments in large corporations
• Consistently listed in the top five jobs in
the United States (Jobs Rated Almanac)
Examples
• Genworth Financial, Markel Corp.,
Mercer HR Consulting
• Anthem, CIGNA, AETNA
• GEICO, Allstate
• AON Consulting
Preparation at UR
• Exam 1: Probability (Math 329) – low
US pass rate , but we’re better 
• Exam 2: Financial Mathematics (Math
395)
• Educational Experiences:
– Economics (Econ 101/102)
– Applied Statistics (Econ 340)
– Corporate Finance (Fin 360/366)
More information
• Be an Actuary: www.beanactuary.com
• UR: www.mathcs.richmond.edu/~wowen
• Society of Actuaries: www.soa.org
• Casualty Actuarial Society: www.casact.org
• American Acad. of Actuaries: www.actuary.org