School of Economics

2nd Major in Actuarial Science

What will this second major do for you?

ACS equips you to:

  • Manage risks with models 
    Actuarial Science applies rigorous probability and actuarial models to the analysis and management of various risks in organisations, especially insurance companies.
  • Contribute to the society 
    By analysing and managing risks, actuaries bring financial security to customers, organizations and the society.
  • Apply statistical and machine learning methods 
    Constructing statistical models that generalize data-sets is a powerful quantitative skill. Learning machine learning algorithms that generate predictive models gains additional insight in prediction.
  • Sharpen your competitive edge
    Actuarial Science students have much opportunity for gaining exposure to industry with practical working experience and building good connections through 20-24 weeks internship.
  • Join a vibrant community
    All Actuarial Science students are members of the Actuarial Science Club at SMU.
  • Pursue the professional designation
    The ACS curriculum fulfills all the objectives listed under the Society of Actuaries’ (SOA) Validation by Educational Experience (VEE) guideline. The curriculum also provides actuarial training and prepares you in pursuing the Associate of the Society of Actuaries (ASA).
  • Have a professional career
    Qualified actuary is a well-respected professional who receives world-wide recognition and rewards.

Structure & Curriculum

The ACS curriculum has a requisite of COR2100 Economics and Society and the following ten module requirements:

ACS Courses Requirement

Probability Theory and Applications (STAT201)

Financial Mathematics (STAT203)

Life Contingent Risks (STAT310)

Risk Theory and Loss Models (STAT311)

Statistical Inference for Data Science (DSA201)

Statistical Learning with R (DSA211)

Financial Accounting (ACCT101/111)

Finance (FNCE101)

Any two DSA3XX Electives

Industry Integration (II) Track Requirements

A new Industry Integration (II) Track is established in the ACS programme for students who are eager to pursue their professional careers in the actuarial field after graduation. The II Track ensures that ACS students in this track have a higher exposure to industry, better connections, and more practical working experience, as compared to other ACS students not in the track.

ACS students in II Track need to fulfil all ten module requirements, including DSA301 Time Series Data Analysis plus one additional Actuarial Science Work-Study Elective (ACS WSE). ACS students can only declare II Track in ACS programme if they successfully sign up for ACS WSE.

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