School of Mathematics

Understanding the Course:

The BSc in Actuarial Mathematics is fully accredited by the Institute and Faculty of Actuaries.

How long will people live, and for how much should their lives be insured? Can you advise someone what pension product they should buy? Can we understand and predict the movement of stock prices? What is the rate of return on capital on an investment venture - and should that project be funded? These are some of the questions we will help you to answer at DCU.

Actuarial Mathematics involves applying the science of chance - probability - to complicated problems encountered everyday in insurance and high finance. This degree prepares you to work in either the actuarial profession or in finance in general.

• The actuarial profession helps people manage their exposure to risk, and its impact on their life, property, health or future.
• In finance, the explosion in innovative financial producs - such as derivatives and swaps - has led to sophisticated mathematical techniques which determine their price. These products are of great importance in modern risk management.

About You:

If you excel in mathematics and problem-solving, and want to apply your talent to a career in the actuarial profession or in finance - then come and join the course!

We expect you to be excellent at Maths: as a CAO applicant you'll need to achieve at least a B3 grade in Higher Level Maths. The general entry requirements for admission to the University also apply. Finally, you need to be smart all round, aiming for about 500 CAO points or better to enter the course.

Course Structure:

The first two years of the course cover fundamental mathematical principles and techniques. You will need these to understand the financial models studied later. Practical and finance-related subjects such as economics, accounting and computer programming are also studied. In Years Three and Four, the course focuses on applying sophisticated mathematics - using probability and statistics - to real-world problems in insurance, finance and banking.

In Year three, you'll spend eight months on a paid work placement (INTRA) where you'll have the chance to work for a major insurance company, an investment bank or an IFSC company. INTRA gives you a great opportunity to gain practical skills and experience in a commercial environment, while also serving as an excellent way to build business contacts and to inform your choice of career.

To recognise academic and professional excellence, the Society of Actuaries in Ireland awards a yearly monetary prize to the best fourth year student. Finally, the intake of students is limited, ensuring that you receive greater individual attention.

View the subjects currently taught on this course (2012 - 2013)

• The B.Sc. in Actuarial Mathematics is fully accredited by the Institute and Faculty of Actuaries.
• Students on this course can gain exemptions from all eight of the Core Technical examinations of the Institute and Faculty of Actuaries.
• Qualified actuaries teach on the course, ensuring students receive practical and academic knowledge about the actuarial profession.
• DCU specialises in applications of mathematics to finance, offering an M.Sc. in Financial and Industrial Mathematics and a Graduate Certification in Actuarial Applications.
• Research in financial mathematics ensures students are kept abreast of recent developments.
• The Society of Actuaries in Ireland awards a prize each year to the graduate with the best academic performance.

Career Prospects:

This course offers a flying start to becoming a qualified actuary. By doing well in a number of your modules in DCU you may also be exempt from sitting certain professional examinations. Your career prospects are excellent in all areas of the actuarial profession such as life, general, and health insurance, pensions, and actuarial consultancy.

Insurance and finance remain strong sectors of the Irish economy, with demand continuing for graduates with strong mathematical skills and a professional ethos.

While the course is specifically designed for an actuarial career or careers in finance, it is also useful for graduates who may wish to progress to research, teaching or employment in business or industry generally.

What our students say

"This degree is the perfect foundation for a career as an actuary, as well as any career in banking, insurance and financial services. The work experience in third year is a fantastic way to get hands-on experience and helped me decide the direction I wanted my career to go. Doing this course in DCU has fast-tracked my qualification as an actuary and given me an excellent college experience, with friends that I will have for life."
John Harney, Consultant Trainee Actuary at Towers Watson, Financial and Actuarial Mathematics 2011

Entry Requirements:

GCE A Level
In addition to the general entry requirements for admission to the university the following entry requirements apply:

GCE A Level B Mathematics

C20139 Mathematics and 3 from the following:
C20011 Chemistry
C20006 Biology
C20048 Physics
C20033 Laboratory Techniques

Transfer Applications
In general holders of Higher Certificate/National Certificates with a significant mathematical content with credit or distinction may be admitted into second year subject to the requirement to make up in the areas not adequately studied previously. Holders of Bachelor (Ordinary) Degree/National Diplomas with a significant mathematical content with merit or distinction may be admitted into the third year subject to the requirement to make up in the areas not adequately studied previously. Holders of Higher Certificate/National Certificates or Bachelor (Ordinary) Degree/National Diploma with Merit will normally be required to have a distinction in the mathematics elements of their courses.

International Applications
International candidates are expected to have educational qualifications of a standard equivalent to those outlined above. In addition, where such candidates are non-native speakers of the English language they must satisfy the university of their competency in the English language. For further information on international applications click here.

How to Apply and Closing Dates

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Fee information