MSc Actuarial Science

Year of entry: 2019

Overview

Degree awarded
Master of Science
Duration
12 Months. [Full-Time]
Entry requirements

The entry requirement to the programme is normally a good upper second class honours degree in Mathematics/Statistics, a Science degree with a strong quantitative component, a subject with a substantial mathematical content, or an equivalent overseas qualification in a mathematical subject.  In particular, knowledge of probability and statistics equivalent to good second year undergraduate Mathematics degree level is required for entry to the programme.

Full entry requirements

How to apply
Apply online

Course options

Full-time Part-time Full-time distance learning Part-time distance learning
MSc Y N N N

Course description

The MSc in Actuarial Science provides a strong grounding in the mathematics of actuarial science and addresses both the current and future needs of the industry.  The programme was recently established and incorporates all mathematical techniques,  in particular from the fields of probability and statistics, a modern actuary could not do without.  Accredited by the Institute and Faculty of Actuaries, the course will offer the following exemptions in the IFoA's revised Curriculum 2019: CS1, CS2 (Actuarial Statistics) and CM2 (Actuarial Mathematics). (Reaccreditation for Curriculum 2019 is currently pending).  If you are interested in developing a career as an actuary, this programme of study will provide the ideal entry platform into a broad range of employment sectors, such as Insurance, Finance and Risk Management.

Fees

For entry in the academic year beginning September 2019, the tuition fees are as follows:

  • MSc (full-time)
    UK/EU students (per annum): £12,000
    International students (per annum): £19,500

The fees quoted above will be fully inclusive for the course tuition, administration and computational costs during your studies.

All fees for entry will be subject to yearly review and incremental rises per annum are also likely over the duration of courses lasting more than a year for UK/EU students (fees are typically fixed for International students, for the course duration at the year of entry). For general fees information please visit: postgraduate fees . Always contact the department if you are unsure which fee applies to your qualification award and method of attendance.

Self-funded international applicants for this course will be required to pay a deposit of £1000 towards their tuition fees before a confirmation of acceptance for studies (CAS) is issued. This deposit will only be refunded if immigration permission is refused. We will notify you about how and when to make this payment.

Policy on additional costs

All students should normally be able to complete their programme of study without incurring additional study costs over and above the tuition fee for that programme. Any unavoidable additional compulsory costs totalling more than 1% of the annual home undergraduate fee per annum, regardless of whether the programme in question is undergraduate or postgraduate taught, will be made clear to you at the point of application. Further information can be found in the University's Policy on additional costs incurred by students on undergraduate and postgraduate taught programmes (PDF document, 91KB).

Scholarships/sponsorships

Scholarships are available for this programme.

Contact details

School/Faculty
School of Mathematics
Contact name
PGT Admissions Team
Telephone
0161 275 0174
Email
Website
www.maths.manchester.ac.uk
School/Faculty

Courses in related subject areas

Use the links below to view lists of courses in related subject areas.

Entry requirements

Academic entry qualification overview

The entry requirement to the programme is normally a good upper second class honours degree in Mathematics/Statistics, a Science degree with a strong quantitative component, a subject with a substantial mathematical content, or an equivalent overseas qualification in a mathematical subject.  In particular, knowledge of probability and statistics equivalent to good second year undergraduate Mathematics degree level is required for entry to the programme.

English language

Students whose first language is not English require a minimum score of IELTS 6.5 with at least 6.0 in writing and 5.5 in each other component. 

English language test validity

Some English Language test results are only valid for two years. Your English Language test report must be valid on the start date of the course.

Application and selection

How to apply

Deferrals

Admissions staff will decide whether to offer places to applicants for deferred entry on their courses and you should not assume that they will grant all such requests. If you request deferral for more than one year, you would normally be required to re-apply, as your chosen course, and your suitability for it, would change over time. English Language test results can only be considered to be current for two years from the test date.

Re-applications

If you applied in the previous year and your application was not successful you may apply again. Your application will be considered against the standard course entry criteria for that year of entry. In your new application you should demonstrate how your application has improved. We may draw upon all information from your previous applications or any previous registrations at the University as a student when assessing your suitability for your chosen course.

Course details

Course description

The MSc in Actuarial Science provides a strong grounding in the mathematics of actuarial science and addresses both the current and future needs of the industry.  The programme was recently established and incorporates all mathematical techniques,  in particular from the fields of probability and statistics, a modern actuary could not do without.  Accredited by the Institute and Faculty of Actuaries, the course will offer the following exemptions in the IFoA's revised Curriculum 2019: CS1, CS2 (Actuarial Statistics) and CM2 (Actuarial Mathematics). (Reaccreditation for Curriculum 2019 is currently pending).  If you are interested in developing a career as an actuary, this programme of study will provide the ideal entry platform into a broad range of employment sectors, such as Insurance, Finance and Risk Management.

Coursework and assessment

There are two teaching semesters of 12 weeks each and approximately 15 weeks of project work. Assessment for the taught part is by exams and coursework.

Course unit list

The course unit details given below are subject to change, and are the latest example of the curriculum available on this course of study.

TitleCodeCredit ratingMandatory/optional
Martingales Theory for Finance MATH67201 15 Mandatory
Time Series Analysis and Forecasting in Finance MATH68032 15 Mandatory
Generalised Linear Models and Survival Analysis MATH68052 15 Mandatory
Stochastic Modelling in Finance MATH69102 15 Mandatory
Actuarial Models 1 MATH69511 15 Mandatory
General Insurance MATH69531 15 Mandatory
Risk Theory MATH69542 15 Mandatory
Quantitative Risk Management MATH69551 15 Mandatory

Facilities

The School of Mathematics is the largest in the UK with an outstanding research reputation and facilities .

Disability support

Practical support and advice for current students and applicants is available from the Disability Advisory and Support Service. Email: dass@manchester.ac.uk

Careers

Career opportunities

If you are interested in developing a career as an actuary, this programme of study will provide the ideal entry platform into a broad range of employment sectors, such as Insurance, Financial and Risk Management.