Actuarial Science, MBA

The Wharton actuarial science curriculum prepares students for professional certification as an actuary. The curriculum includes general business courses important for developing a strong, general understanding of the business environment, as well as quantitative courses in economics, accounting, computer science, and finance. The location of the actuarial science program within an internationally renowned business school provides students with an exceptional opportunity to blend studies in economic theory, financial strategies, general business principles, insurance company management, corporate risk management, and public policy. Students enrolling are expected to have undergraduate training in calculus and at least one course in statistics and probability theory. Students are encouraged, but not required, to take actuarial examinations organized by the Society of Actuaries or the Casualty Actuarial Society during their studies.

The Society of Actuaries and the Casualty Actuarial Society adopted a new examination system in 2007. Three topics (Applied Statistical Methods, Corporate Finance, and Economics) require Validation by Educational Experience (VEE). The Society of Actuaries has approved a large number of Wharton and Penn courses that satisfy the VEE requirements. A list of these approved courses can be found on the Society website.

Students then need to pass four preliminary exams: Probability, Financial Mathematics, Actuarial Models, and Construction and Evaluation of Actuarial Models. Actuarial courses offered by the Department prepare students for the Financial Mathematics and the Actuarial Models examinations.

Curriculum

A minimum of 19 course units is required for graduation.

Major electives taken on a pass/fail basis cannot be counted toward the Actuarial Science major.

Actuarial Science Major Requirements
STAT/BEPP 851Fundamentals of Actuarial Science I1.0
STAT/BEPP 852Fundamentals of Actuarial Science II1.0
STAT/BEPP 853Actuarial Statistics1.0
BEPP 890Advanced Study Project
Select 1 course unit from the following:1.0
Business Insurance and Estate Planning.
Statistical Computing with R
Forecasting Methods for Management
Predictive Analytics for Business (formerly STAT 622)
Data Analytics and Statistical Computing
Electives
Select 4.5 course units of electives4.5
MBA Core Requirements9.5
Total Course Units18

MBA Core Requirements

Accounting
Select one of the following:0.5-1
Fundamentals of Financial Accounting
Fundamentals of Financial and Managerial Accounting
Finance 1
Corporate Finance
Select one of the following:0.5-1
Corporate Finance
Corporate Finance (Half CU)
Macroeconomics
Select one of the following:0.5-1
Macroeconomics and the Global Economic Environment
Macroeconomics and The Global Economic Environment (Half CU)
Legal Studies
LGST 611Responsibility in Global Management0.5
or LGST 612 Responsibility in Business
Microeconomics
MGEC 611Microeconomics for Managers: Foundations0.5
MGEC 612Microeconomics for Managers: Advanced Applications0.5
Management
MGMT 610Foundations of Teamwork and Leadership0.5
MGMT 611Managing Established Enterprises1
or MGMT 612 Management of Emerging Enterprises
Marketing
MKTG 611Marketing Management0.5
MKTG 612Dynamic Marketing Strategy0.5
or MKTG 613 Strategic Marketing Simulation
OIDD
OIDD 611Quality and Productivity0.5
or OIDD 615 Operations Strategy
Select one of the following: 20.5
Quality and Productivity
Business Analytics
Online Business Models and the Information-Based Firm
Innovation
Operations Strategy
Statistics
STAT 613Regression Analysis for Business 31
or STAT 621 Accelerated Regression Analysis for Business
Management Communication
WHCP 611Management Communication0.25
Select one of the following:0.25
Advanced Persuasive Speaking
Communication Challenges for Entrepreneurs: "Pitching your Business"
Persuasive Writing for Business Leaders
Total Course Units9.5

The degree and major requirements displayed are intended as a guide for students entering in the Fall of 2020 and later. Students should consult with their academic program regarding final certifications and requirements for graduation.