Overview


Actuaries use mathematical, statistical, financial and economic theory to solve real business problems, typically involving risk, uncertainty and the financial impact of undesirable events. There is an increasing demand for actuaries in both the private and public sectors, working within a variety of areas such as banking, investment management, consultancy, manufacturing, transport, insurance and pensions.

On this course, you’ll be taught jointly by the School of Mathematics and Leeds University Business School, exploring key topics in mathematics, finance, economics and accounting. You’ll be intellectually stimulated whilst preparing for a potential career that is highly financially-rewarding.

This programme covers most of the content of The Actuarial Profession’s (Institute/Faculty of Actuaries) core technical subjects CT 1-8. On graduation, you will be able to apply for exemptions from some of The Actuarial Profession’s exams.

Enhancing your degree

This course offers you the opportunity to spend a year working in industry or studying at a university abroad, both of which provide valuable experience and help your personal development. Both of these schemes add an additional year to your course, taking the total course length to 4 years.

Our industrial placement scheme gives you the opportunity to gain work experience in an industry relevant to your degree and interests. Our students often describe this industrial experience as an invaluable part of their degree and one which stands them in good stead for their future careers.

The study abroad year enables you to gain insight into the study of actuarial mathematics at one of our partner universities overseas. Many students have found this to be extremely worthwhile in helping broaden their horizons in terms of learning about a new culture and improving their foreign language skills.

In 2015, the School of Mathematics went through a major refurbishment to provide our students with a variety of new study environments. The School now offers social areas, group study areas, a library and a seminar room, where you can interact with other students, as well as a Research Visitors Centre and a Mathematics Active Learning Lab.

Related courses

Economics and Mathematics BSc
Mathematical Studies BSc
Mathematics BSc
Mathematics and Statistics BSc
Mathematics with Finance BSc



Course content: Actuarial Mathematics BSc

This course provides detailed knowledge and understanding of the mathematical and statistical tools relevant to all areas of financial and actuarial mathematics, including stochastic processes, statistics of insurance, survival and risk theory, as well as the mathematical theories underlying these areas. You will gain an appreciation of the interdisciplinary nature of actuarial science and develop a high level of analytical and problem solving skills, in statistical analysis, numerical techniques, and computer applications.

In the first year of the course you will study key topics in mathematics, finance, economics and accounting, including probability, statistics, and the mathematics of financial and insurance markets. You’ll be provided with a solid foundation in actuarial mathematics.

In the second year, you’ll study core modules in financial mathematics, statistical methods, and business finance. At this stage, you’ll be also able to choose some optional modules.

In the final year of the course, you’ll have further core modules in actuarial mathematics, financial modelling and statistics. You’ll also be able to choose from a wide range of optional modules in mathematics, statistics, finance, and economics, allowing you to explore the topics in actuarial mathematics that really interest you.

Course structure

These are typical modules/components studied and may change from time to time. Read more in our Terms and conditions.

Year 1

COMPULSORY MODULES

Introductory Financial Accounting 10 credits
Introductory Management Accounting 10 credits
Economic Theory and Applications 1 20 credits
Calculus and Mathematical Analysis 10 credits
Numbers and Vectors 10 credits
Linear Algebra with Applications 15 credits
Modelling with Differential Equations 10 credits
Financial Mathematics 1 15 credits
Probability and Statistics I 10 credits
Probability and Statistics II 10 credits

Year 2

COMPULSORY MODULES

Intermediate Microeconomics 10 credits
Intermediate Financial Accounting 20 credits
Intermediate Macroeconomics 10 credits
Financial Mathematics 2 10 credits
Financial Mathematics 3 10 credits
Statistical Methods 10 credits
Introduction to Markov Processes 10 credits
Survival Analysis 10 credits
OPTIONAL MODULES

Real Analysis 15 credits
Further Linear Algebra 10 credits
Discrete Mathematics 10 credits
Discrete Mathematics with Computation 15 credits
Vector Calculus 15 credits
Nonlinear Differential Equations 10 credits
Numerical Analysis 10 credits
Numerical Analysis with Computation 15 credits
Introduction to Optimisation 10 credits
Statistical Modelling 10 credits
Environmental Statistics 10 credits
Maths at Work 10 credits
Computational Mathematics 10 credits

Year 3

COMPULSORY MODULES

Project in Mathematics 20 credits
Actuarial Mathematics 1 15 credits
Actuarial Mathematics 2 15 credits
Stochastic Financial Modelling 15 credits
Time Series 10 credits
OPTIONAL MODULES

Introduction to Clinical Trials 15 credits
Intermediate Management Accounting 20 credits
Advanced Microeconomics 10 credits
International Banking and Finance 10 credits
Transnational Corporations in the World Economy 10 credits
Economic Development 20 credits
Economics of Famines 20 credits
Environmental Economics 10 credits
Public Enterprise and Regulation 10 credits
Advanced Macroeconomics 10 credits
Auditing and Information Systems 10 credits
Auditing and Assurance Services 20 credits
Advanced Accounting Theory 20 credits
Principles of Taxation 20 credits
The Economics of Unions 10 credits
Corporate Governance 10 credits
Economics of Business and Corporate Strategy 20 credits
Real Analysis 15 credits
Further Linear Algebra 10 credits
Discrete Mathematics 10 credits
Discrete Mathematics with Computation 15 credits
Vector Calculus 15 credits
Linear Differential Equations and Transforms 15 credits
Nonlinear Differential Equations 10 credits
Numerical Analysis 10 credits
Numerical Analysis with Computation 15 credits
Statistical Modelling 10 credits
Environmental Statistics 10 credits
Computational Mathematics 10 credits
Analytic Solutions of Partial Differential Equations 15 credits
Numerical Methods 10 credits
Modern Numerical Methods 15 credits
Linear Regression and Robustness 15 credits
Statistical Theory 15 credits
Multivariate Analysis 10 credits
Bayesian Statistics 10 credits
Generalised Linear Models 10 credits

For more information on typical modules, read Actuarial Mathematics BSc in the course catalogue

Broadening your academic horizons

At Leeds we want you to benefit from the depth and breadth of the University's expertise, to prepare you for success in an ever-changing and challenging world. This course gives you the opportunity to broaden your learning by studying discovery modules. Find out more on the Broadening webpages.

Learning and teaching

You’ll be taught through lectures, tutorials, workshops and practical classes. You’ll enjoy extensive tutorial support and have freedom in your workload and options.

Assessment

You’re assessed through a range of methods, including formal exams and in-course assessment.

Entry requirements, fees and applying: Actuarial Mathematics BSc

Entry requirements

A-level: AAA - A*AB

AAB or A*BB, including further mathematics.

AAB or A*BB, including mathematics and A in AS further mathematics.

We always require at least grade A in A-level mathematics. If you are taking further mathematics at A-level or AS-level, we usually make an additional alternative offer. In all cases, the first grade quoted is the Mathematics A-level.

We don’t accept general studies or critical thinking but may take account of these at the confirmation stage.

Applicants taking a Science A-level (in England) will be required to achieve a pass in the practical element in addition to the standard A-level grade requirement.

GCSE:

You must also have GCSE English at grade C or above (or equivalent).

Alternative Qualifications

Access to HE Diploma

Normally only accepted in combination with grade A in A Level Mathematics or equivalent.

BTEC

BTEC qualifications in relevant disciplines are considered in combination with other qualifications, including grade A in A-level mathematics, or equivalent

Cambridge Pre-U

Either D3/M1/M1 or D2/M1/M2. If further mathematics is being taken we ask for D3/M1/M2 or D2/M2/M2. In all cases, the first grade quoted is in mathematics.

International Baccalaureate

35 points overall with 17 at Higher Level including 6 in Higher Level Mathematics

Irish Highers (Leaving Certificate)

H1 H1 H1 H1 H1 H2 at Higher Level with H1 in Mathematics

Scottish Highers / Advanced Highers

Suitable combinations of Scottish Higher and Advanced Highers are acceptable, though mathematics must be presented at Advanced Higher level.Typically AAAAB Including grade A in Advanced Higher Mathematics

Other Qualifications

We also welcome applications from students on the Northern Consortium UK International Foundation Year programme, the University of Leeds International Foundation Year, and other foundation years with a high mathematical content.

Read more about UK and Republic of Ireland accepted qualifications or contact the School’s Undergraduate Admissions Team.

Alternative Entry

We’re committed to identifying the best possible applicants, regardless of personal circumstances or background.

Access to Leeds is an alternative admissions scheme which accepts applications from individuals who might be from low income households, in the first generation of their immediate family to apply to higher education, or have had their studies disrupted.

Find out more about Access to Leeds and alternative admissions.

International

We accept a range of international equivalent qualifications.

Foundation year

If you have the ability to study for a degree but don’t have the qualifications to enter directly to level one, you might consider studying a foundation year. We have formal links with the following foundation year programmes:

- University of Leeds International Foundation Year (IFY)

- Northern Consortium of UK Universities (NCUK)

- Study Group Leeds International Study Centre (LISC)

If you are applying from an alternative foundation year provider, please contact our admissions team to find out if your qualification is suitable for entry to our courses.

English language requirements

IELTS 6.0 overall, with no less than 5.5 in any component. For other English qualifications, read English language equivalent qualifications.

International students who do not meet the English language requirements for the programme may be able to study an English for Academic Purposes pre-sessional course with a progression route to the degree programme. For information and entry requirements, read Pre-sessional programmes.

How to apply

Apply to this course through UCAS. The institution code for the University of Leeds is L23. Check the deadline for applications on the UCAS website.

International students apply through UCAS in the same way as UK/EU students. Our network of international representatives can help you with your application. If you’re unsure about the application process, contact the admissions team for help.

Read about visas, immigration and other information in International students. We recommend that international students apply as early as possible to ensure that they have time to apply for their visa.

Admissions policy

Faculty of Biological Sciences Undergraduate Admissions Policy

Fees

UK/EU: See fees section below

International: £19,500 (per year)

For UK and non-UK EU full-time students starting in 2017, the fee for 2017/18 will be £9,250. 

The fee for undergraduate students starting in 2018 will be confirmed in September 2017.

The fee is likely to increase in future years of your course in line with inflation, and as permitted by law. For example, the increase of 2.8% for 2017/18 was based on the government’s forecast for the RPI-X measure of inflation.

The UK government has confirmed that non-UK EU students starting in 2017 will have home fee status and be eligible for UK government student loans for the duration of their course. Read the full government statement

The UK government has also confirmed that non-UK EU students in 2018-19 will have home fee status and be eligible for UK government student loans. The UK government has not confirmed the situation for future years, so keep checking our website for updates.

If you take a study abroad or work placement year, you’ll pay a reduced tuition fee during this period. For more information, see Study abroad and work placement tuition fees and loans.

Read more about paying fees and charges.

Additional cost information

There may be additional costs related to your course or programme of study, or related to being a student at the University of Leeds. Read more about additional costs

Scholarships and financial support

If you have the talent and drive, we want you to be able to study with us, whatever your financial circumstances. There is help for students in the form of loans and non-repayable grants from the University and from the government. Find out more in our Undergraduate funding overview.

Career opportunities: Actuarial Mathematics BSc

An actuarial mathematics degree can take you down many career paths into some of the highest paid and most satisfying roles in employment. Leeds actuarial mathematics graduates are extremely well placed for employment after their degree. 100% of recent graduates from this course went into employment or further study within 6 months after graduating and the University is the 5th most targeted in the UK by graduate recruiters, according to High Fliers’ The Graduate Market in 2017 report.

Traditionally, actuaries have been employed in the insurance and pensions industry, but there is increasing demand for their analytical skills in other areas of the private and public sector, for example, financial services such as banking and investment management, consultancy, manufacturing, transport, and energy.

In virtually all areas of life, mathematical skills are highly valued. The numerical, analytical and problem solving skills you will develop, as well as your specialist subject knowledge and your ability to think logically, are highly valued across sectors, including financial services, IT, software design, engineering, and teaching. This course also allows you to develop the transferable skills that employers seek.

Careers support

Throughout your degree course we will make sure that you have the support and opportunity to develop the skills and experience you’ll need to make the most of your career choices.

Our industrial placement scheme allows you to gain valuable work experience that can help you stand out from the crowd. You could also secure a part-time job that you can feature on your CV through the students’ union's Joblink.

Our study abroad scheme allows you to experience another culture and develop life skills, which many employers value. The students’ union also provides volunteering opportunities which can help you in your personal development.

We teach problem-solving and high level thinking at all stages of your degree. We also provide modules that are specifically designed to boost your employability. The second year module “maths at work” engages you in group-based project. At the start of the module, you’ll undertake a skills audit, then prepare a CV, research a company for a mock interview, and participate in an interview workshop. Depending on the nature of your specific project, you may produce a report for a client or a webpage. Throughout the module, you’ll develop team work, communication, and presentation skills.

We encourage you to prepare for your career from day one. That’s one of the reasons Leeds graduates are so sought after by employers.

Leeds for Life is our unique approach to helping you make the most of University by supporting your academic and personal development. Find out more at the Leeds for Life website.

The Careers Centre and staff in your faculty provide a range of help and advice to help you plan your career and make well-informed decisions along the way, even after you graduate. Find out more at the Careers website.

Study abroad and work placements

Study abroad

On this course you have the opportunity to apply to spend time abroad, usually as an extra academic year. The University has partnerships with more than 400 universities worldwide and popular destinations for our students include Europe, the USA, Canada, Australia, New Zealand, Singapore, Hong Kong, South Africa and Latin America. 

Find out more at the Study Abroad website.

Spending a year living and studying in another country is a unique experience. Unlike the passing tourist, you have the chance to totally immerse yourself in another culture. You will gain unforgettable experiences and memories that you will draw upon in your working and personal life for years to come. In addition to this, the proven ability to live and work in an international context is an asset that many employers actively seek.

On this course, your year abroad adds an additional year to your studies. During your year abroad, you will study actuarial mathematics at your host institution.

Students who spend a year in Europe through the ERASMUS programme also receive a maintenance grant for their year away and pay a reduced tuition fee for the year abroad.

Work placements

Practical work experience can help you decide on your career and improve your employability. On this course you have the option to apply to take a placement year module with organisations across the public, private and voluntary sectors in the UK, or overseas.

Find out more about work experience on the Careers website.

Read more about some of the companies our students completed their industrial placement with.

The industrial placement (“Year in Industry”) scheme provides you with the opportunity to experience salaried work before you graduate. Employers actively seek graduates who already have work experience and it can make all the difference in interviews.

On this course, your industrial placement adds an additional year to your studies.

An industrial placement will boost your self-confidence, not only in your chosen subject area, but in the marketplace generally. You will be able to choose from a range of actuarial mathematics-related organisations in which to work. In previous years, students have worked at many prestigious companies.

During your industrial placement you will have an industrial supervisor from within the company, plus an academic supervisor who will keep in touch throughout your placement.

If you are not sure right now whether or not an industrial placement is right for you, don't worry - you will not have to start applying for placements until the beginning of your second year.