Introduction
Actuarial Science and Financial Mathematics program manages risk in the financial and government sector and industries. The curriculum particularly focuses on analyzing risk data and making informed decisions from it. It is a multidisciplinary study that combines four major areas (Mathematics, Statistics, Finance, and Insurance) into one.
A graduate of the program is able to contribute to all areas of Saudi Arabian and international financial sectors as well as government sectors where the objective of minimization of risk is the main daily focus.
Program Educational Objectives
The objective of the BS program in Actuarial Science and Financial Mathematics is to prepare students for a career as an actuary or financial risk manager. In addition, the program also prepares the students for international professional society examinations. The program has a good balance of theory, applications and data analysis, as well as carefully selected sequences of courses from computer science, economics, accounting, mathematics, statistics, finance, and risk management. This interdisciplinary approach is meant to make the program flexible and give the students a broad based education. The program also prepares students for further graduate study in any area of Applied Mathematics, Statistics, Actuarial Science, Finance, or Business.
Degree Plan
| Semester 1 | ||||
|---|---|---|---|---|
| Course | Title | LT | LB | CR |
| ECON 101 | Principles Of Microeconomics | 3 | 0 | 3 |
| ENGL 101 | Introduction to Academic Discourse | 3 | 0 | 3 |
| ACCT 110 | Introduction to Financial Accounting | 3 | 0 | 3 |
| IAS 121 | Language Foundation | 2 | 0 | 2 |
| MATH 101 | Calculus I | 4 | 0 | 4 |
| PE 101 | Health & Physical Education I | 0 | 2 | 1 |
| 15 | 2 | 16 | ||
| Semester 2 | ||||
|---|---|---|---|---|
| Course | Title | LT | LB | CR |
| ECON 102 | Principles of Macroeconomics | 3 | 0 | 3 |
| ENGL 102 | Introduction to Report Writing | 3 | 0 | 3 |
| ACCT 210 | Introduction to Managerial Accounting | 3 | 0 | 3 |
| IAS 111 | Belief and its Consequences | 2 | 0 | 2 |
| MATH 102 | Calculus II | 4 | 0 | 4 |
| ICS 104 | Introduction to Programming in Python and C | 2 | 3 | 3 |
| 17 | 3 | 18 | ||
| Semester 1 | ||||
|---|---|---|---|---|
| Course | Title | LT | LB | CR |
| BUS 200 | Business & Entrepreneurship | 3 | 0 | 3 |
| AS 201 | Financial Mathematics | 3 | 0 | 3 |
| ISE 291 | Introduction to Data Science | 3 | 0 | 3 |
| IAS 212 | Ethics and Governance | 2 | 0 | 2 |
| MATH 201 | Calculus III | 3 | 0 | 3 |
| STAT 214 | Statistical Methods for Actuaries | 3 | 2 | 4 |
| 17 | 2 | 18 | ||
| Semester 2 | ||||
|---|---|---|---|---|
| Course | Title | LT | LB | CR |
| FIN 250 | Financial Management | 3 | 0 | 3 |
| AS 289 | Actuarial Science Problem Lab I | 0 | 2 | 1 |
| AS 251 | Maths of Financial Derivatives | 2 | 2 | 3 |
| MATH 208 | Introduction to Differential Equations & Linear Algebra | 3 | 0 | 3 |
| STAT 301 | Introduction to Probability Theory | 3 | 0 | 3 |
| ENGL 214 | Academic & Professional Communication | 3 | 0 | 3 |
| 14 | 4 | 16 | ||
| Semester 1 | ||||
|---|---|---|---|---|
| Course | Title | LT | LB | CR |
| FIN 320 | Investments | 3 | 0 | 3 |
| AS 380 | Actuarial Contingencies I | 2 | 2 | 3 |
| MATH 371 | Introduction to Numerical Computing | 2 | 2 | 3 |
| CGS 392 | Career Essentials | 0 | 2 | 1 |
| STAT 302 | Statistical Inference | 3 | 0 | 3 |
| STAT 310 | Regression Analysis | 3 | 0 | 3 |
| 13 | 6 | 16 | ||
| Semester 2 | ||||
|---|---|---|---|---|
| Course | Title | LT | LB | CR |
| AS 398 | Internship | 0 | 0 | 6 |
| 0 | 0 | 6 | ||
Requirements
Every student of Bachelor of Science in Actuarial Science and Financial Mathematics program must complete the following curriculum:
| Title | Courses | Credit Hours |
|---|---|---|
| English | ENGL 101, 102, 214 | 9 |
| Islamic & Arabic Studies | IAS 111, 121, 212, xxx | 8 |
| Global Studies | GS xxx | 3 |
| Career Essentials | CGS 392 | 1 |
| Physical Education | PE 101 | 1 |
| Total Credit Hours 22 | ||
| Title | Courses | Credit Hours |
|---|---|---|
| Intro. to Programm. in Python & C | ICS 104 | 3 |
| Introduction to Data Science | ISE 291 | 3 |
| Intro. to Artificial Intelligence | COE 292 | 3 |
| Business & Entrepreneurship | BUS 200 | 3 |
| Total Credit Hours 12 | ||
| Title | Courses | Credit Hours |
|---|---|---|
| Math | MATH 101, 102, 201, 208 | 14 |
| Total Credit Hours 14 | ||
| Title | Courses | Credit Hours |
|---|---|---|
| Accounting | ACCT 110, 210 | 6 |
| Economics | ECON 101, 102 | 6 |
| Total Credit Hours 12 | ||
| Title | Courses | Credit Hours |
|---|---|---|
| Mathematics of Financial Derivatives | AS 251 | 3 |
| Actuarial Science Problem Lab | AS 289, 389 | 2 |
| Actuarial Contingencies | AS 380, 481 | 7 |
| Actuarial Risk Theory and Credibility | AS 484 | 4 |
| Financial Management | FIN 250 | 3 |
| Investments | FIN 320 | 3 |
| Islamic Finance | FIN 440 | 3 |
| Intro. to Numerical Computing | MATH 371 | 3 |
| Statistical Methods for Actuaries | STAT 214 | 4 |
| Introduction to Probability Theory | STAT 301 | 3 |
| Statistical Inference | STAT 302 | 3 |
| Regression Analysis | STAT 310 | 3 |
| Stochastic Processes for Actuaries | STAT 416 | 3 |
| Time Series | STAT 460 | 3 |
| Financial Mathematics | AS 201 | 3 |
| Total Credit Hours 50 | ||
| Title | Courses | Credit Hours |
|---|---|---|
| Technical Elective | One Course from STAT xxx, MATH xxx, FIN 3/4xx, ICS xxx, or ISE xxx | 3 |
| AS Electives | Two AS xxx Courses from AS 450, 460, 476, 490, 491, STAT 436 | 6 |
| Total Credit Hours 9 | ||
| Title | Courses | Credit Hours |
|---|---|---|
| Internship | AS 398 | 6 |
| Total Credit Hours 6 | ||