Columbia University Launches New Master's Program in Actuarial Science in Fall 2006

In fall 2006, Columbia University’s Department of Statistics and School of Continuing Education will launch a new Master of Science in Actuarial Science program.  The program prepares postgraduates with strong academic records in mathematics, statistics and economics for entry into and advancement in actuarial science.

Columbia’s M.S. in Actuarial Science is a rigorous program of study focused on the core knowledge required of all actuaries and tested in Society of Actuaries (SOA) Exams P, FM, M and C and Casualty Actuarial Society (CAS) Exams 1–4.  The core curriculum includes courses in economics and finance, statistical methods and actuarial science. Students earn Validation by Educational Experience (VEE) credit in economics, corporate finance and applied statistical methods. Advanced students may take electives in mathematical finance, risk management and advanced statistical methods.   Individualized programs of study may be developed to accommodate those students who have completed some of the required coursework prior to entering the program as well as those students who wish to do additional coursework in risk management, data analysis and mathematical finance. Students enroll full-time or part-time; full-time students complete the program in three semesters.  

The M.S. program gives students the opportunity to take classes with Columbia faculty who are at the forefront of research in mathematical finance, econometrics and statistical methods.  It provides an academic experience that extends beyond the limits of basic test preparation by providing a community of like-minded, talented peers; rigorous and structured coursework and options for full and part-time study that can be customized based on each student’s academic background, aptitudes and work demands.

Actuarial science is a distinguished profession devoted to the study of evaluating and predicting economic risk.  It is a dynamic and challenging field, and today’s actuaries must respond to advances in the mathematical theory of risk management as well as to changing economic circumstances worldwide. Although the actuarial field has historically trained via apprenticeship, actuaries and the companies that employ them are increasingly looking toward the academic community to train and prepare entry-level professionals. In fact, universities are now playing a central role in advancing the theories and principles applied in the profession.
 
Based in the New York metropolitan area, where roughly a quarter of all actuarial positions nationwide are located, Columbia is uniquely situated to create a dynamic community of faculty, professional practitioners and students in the field.  The Department of Statistics will assist students not employed in the field in locating internship opportunities in the region.

For more information on Columbia’s Master of Science in Actuarial Science, go to www.ce.columbia.edu/actuary, call (212) 854-9699 or e-mail ce-info@columbia.edu.