Successful actuaries use mathematical skill and business acumen to solve financial problems related to risk and uncertainty.
This degree combines the expertise of the York Management School and the Department of Mathematics, giving you access to world-class academics at the cutting edge of research in their fields.
You'll sharpen your mathematical skills and statistical reasoning, using advanced calculus, algebra, probability and statistics. In parallel you'll study economics, finance and accounting, developing your understanding of the wider context of actuarial work. Spending a year in industry offers an opportunity to put theory into practice while gaining valuable experience.
On successfully completing this course, you will be a multi-faceted and highly employable graduate with the financial and business skills required to qualify as a professional actuary.
This course is available as a three-year degree, without a year in industry: Actuarial Science (BSc).
This course is professionally accredited by the Institute and Faculty of Actuaries. Our graduates can claim exemption from core professional exams CT1-CT8 and CAA modules 0-4.
I'm so happy that I chose York to pursue my ambition of becoming an actuary. My first year has been amazing with fantastic quality teaching, interesting modules, inspiring lecturers and excellent careers advice.Rhiannon, BSc Actuarial Science
Gain management-related experience, apply your academic knowledge and improve your employability.
Our modules are taught by leading researchers in the field.
Our dedicated support team will help you present yourself at your best for the next step of your career.
This course will equip you with knowledge and understanding of the concepts, theories and models of actuarial science.
You'll study mathematical concepts such as probability theory and statistics, as well as business economics, accounting and corporate finance.
You'll learn to use data to model uncertain future events and improve your analytical skills through rigorous mathematical reasoning.
Immerse yourself in another culture for a few weeks or the whole summer on a short course, volunteering programme, or career-related summer school.
Year 1 covers skills and knowledge which you'll use and build on throughout your degree. You'll learn about some key financial and economic concepts and develop your core mathematical skills.
Financial Accounting will enable you to prepare and interpret financial statements and consider how these may be used in practice.
Mathematics for the Sciences I will consolidate and broaden your A level maths skills. You'll study algebra, differential calculus, integral calculus, differential equations and probability.
Introduction to Probability and Statistics explores the mathematical underpinning of today's data-driven society. You'll cover a range of techniques and theories providing a solid foundation for further study.
Mathematics for the Sciences II further strengthens your fundamental skills, in preparation for advanced mathematics modules later in your degree.
Business Economics covers economic principles as applied to the business environment. You'll study micro and macro economics, and the way in which these concepts improve our understanding of markets.
Finance and Financial Analysis introduces you to the sources of finance available to companies to fund their operations. You'll analyse and interpret financial statements and discuss their limitations.
Management Accounting will introduce you to the key concepts underpinning management accounting. You'll learn about the tools managers use to inform financial decisions, and how they are used in practice.
In addition to the above you will also need to complete our online Academic Integrity module.
This module covers some of the essential skills and knowledge which will help you to study independently and produce work of a high academic standard which is vital for success at York.
This module will:
In your second year you'll continue to develop your mathematical skills in probability and statistics. We'll introduce you to some key actuarial concepts and a variety of actuarial modelling techniques.
Corporate Finance explores how firms manage financial resources to achieve their objectives. You'll investigate financial theory and analyse the impact of financial practice.
Introduction to Actuarial Science will teach you about core concepts such as commonly-used financial instruments, investment project appraisal, compound interest and discounting and the time value of money.
Actuarial Modelling covers fundamental actuarial models for real-world risks, including survival models for lifetimes, compound models for insurance losses and models for reserving against future claims.
Portfolio and Investment Theory introduces mathematical frameworks for minimising investment risk. You'll learn to quantify risk using a variety of measures and to use portfolio selection and diversification techniques.
Probability & Statistics will equip you with a thorough grounding in statistical methodology, an awareness of the scope, achievements and possibilities of using statistics, and confidence in the use of appropriate statistical and computational tools, techniques and methodologies for solving and analysing a range of practical problems.
You'll also choose one of the following options:
Strategic Management explores the theories and practical approaches to strategic management. You'll focus on how organisations develop strategy and manage change in the context of a globalised economy.
Governance and Audit will introduce you to auditing, corporate governance and accountability processes.
A year in industry gives you the opportunity to apply your academic learning to a real-life business. Salaries for these placements are typically £14,000 - £18,000, but have been as high as £45,000.
We have established strong links with a number of actuarial employers, and work with the Institute and Faculty of Actuaries to help you secure placements with a specifically actuarial focus. In recent years placements have included:
In your final year you'll learn advanced methods of statistical analysis and explore more sophisticated mathematical approaches to modeling financial and actuarial processes. You'll also choose an optional module to ground your actuarial knowledge in a management context.
Mathematical Finance I presents classical mathematical approaches to portfolio selection and asset pricing in discrete time.
Stochastic Processes covers a range of models and techniques that are used to describe random phenomena in the real world, and make predictions of future outcomes.
Stochastic Calculus is used to analyse the behaviour of stochastic processes. You'll explore the concepts of martingales and Brownian motion, delve into stochastic differentials and learn to apply Itô's lemma.
Generalised Linear Models introduces a powerful class of models which are widely used in practice to model relationships between diverse response and explanatory variables.
Decision Theory and Bayesian Analysis explores axiomatic approaches to utility, expected utility, and subjective expected utility. You'll use these approaches to formulate optimal decisions in the face of risk and uncertainty.
Mathematical Finance II applies some of the concepts covered in the Autumn term to the pricing and hedging of derivative securities.
Contingencies discusses mathematical techniques which can be used to model and value cash flows dependent on death, survival, and other risks.
Time Series introduces you to a variety of statistical models and analyses used to extract meaningful inferences from time series data.
Choose one of the following options:
Managing and Leading Change deconstructs the concept of change as it relates to management areas such as organisational behaviour, strategy and operations. You'll develop deeper and more challenging ways of understanding and critically evaluating organisational change.
Corporate Governance and Social Accountability examines corporate governance from a number of theoretical perspectives. You'll analyse the role of the corporation in modern society, critique the nature and process of socially responsible management, and evaluate the effectiveness of accountability structures.
Strategic Management of Risk will develop your understanding of the strategic role of risk management. You'll learn about the organisational and cultural aspects of risk perception, communication and assessment, and critically evaluate key approaches to the management of risk in a global context.
Company Law looks at some principles of English law which have an impact on business. You'll be introduced to the English legal system, consider different legal structures which business organisations can adopt, and examine aspects of employment law, contract law and negligence.
Please note, modules may change to reflect the latest academic thinking and expertise of our staff.
Every course at York has been designed to provide clear and ambitious learning outcomes. These learning outcomes give you an understanding of what you will be able to do at the end of the course. We develop each course by designing modules that grow your abilities towards the learning outcomes and help you to explain what you can offer to employers. Find out more about our approach to teaching and learning.
I absolutely loved my placement year. Not only did I meet a lot of great people and have some incredible experiences, but the skills and knowledge that I have gained from the year have been invaluable.Becci, Management School student. Read about Becci's placement at Experian
You may find it useful to buy textbooks, and for some modules this may be required. Textbooks usually cost around £30 - £60 each.
UK/EU or international fees? The level of fee that you will be asked to pay depends on whether you're classed as a UK, EU or international student.
For more information about tuition fees, any reduced fees for study abroad and work placement years, scholarships, tuition fee loans, maintenance loans and living costs see undergraduate fees and funding.
We offer a number of scholarships to help cover tuition fees and living costs.
You can use our living costs guide to help plan your budget. It covers accommodation costs and estimated social costs.
“Students from all backgrounds achieve consistently outstanding outcomes”
The TEF Panel, Office for Students, June 2018
Our Gold Teaching Excellence Framework award demonstrates our commitment to the delivery of consistently outstanding teaching and learning for our students.
You’ll work with world‐leading academics who’ll challenge you to think independently and excel in all that you do. Our approach to teaching will provide you with the knowledge, opportunities, and support you need to grow and succeed in a global workplace. Find out more about our approach to teaching and learning.
Our modules are taught by leading academics from the Department of Mathematics and the York Management School. We use a wide range of teaching methods to suit different learning styles, including:
This course has a strong practical focus, allowing you to apply and develop your skills. Our courses are designed to encourage you to take responsibility for your own learning and development, but with all the support you need available from our academics.
As a guide, students on this course typically spend their time as follows:
|Year 1||Year 2||Year 3||Year 4|
|Lectures and seminars||276 hours||240 hours||0 hours||264 hours|
|Placement||0 hours||0 hours||1200 hours||0 hours|
The figures above are based on data from 2016/17.
The rest of your time on the course will be spent on independent study. This may include preparation for lectures and seminars, follow-up work, wider reading, practice completion of assessment tasks, or revision.
Everyone learns at a different rate, so the number of hours will vary from person to person. In UK higher education the expectation is that full-time students will spend 1200 hours a year learning.
You will be based in the Management School on Campus East. Your teaching will take place in various locations around Campus East and Campus West.
Our beautiful green campus offers a student-friendly setting in which to live and study, within easy reach of the action in the city centre. It's easy to get around campus - everything is within walking or pedalling distance, or you can always use the fast and frequent bus service.
You will be assessed largely by closed examination, alongside a mixture of weekly problem sets, essays and projects.
In your second and final years you will have some scope to choose forms of assessment that you prefer through selection of optional modules. However, this course puts greater emphasis on examinations due to the requirements of accreditation by the Institute and Faculty of Actuaries.
|Year 1||Year 2||Year 3||Year 4|
The figures above are based on data from 2016/17.
I have really enjoyed my first year on the Actuarial Science course. York Management School is a great place to learn and have time to enjoy yourself which was made possible with the support, whether academic or personal, offered throughout the year.Charles, BSc Actuarial Science
This course provides a combination of high-level mathematical skills and cutting edge financial and business theory which is sought after by employers all over the world.
You'll be equipped to engage in high-level mathematical reasoning and open-ended problem solving, with analytical skills applicable to a wide range of management problems.
Actuarial science graduates work in a wide range of roles related to finance, investment, risk, pensions and insurance. Many progress to actuarial trainee positions at firms such as Mercer, Tower and Watson, Deloitte and PwC.
AAA including A in Mathematics
|Cambridge Pre-U||D3, D3, M2 in three principal subjects, including Mathematics|
|European Baccalaureate||80% average, including 85% in Mathematics|
|International Baccalaureate||36 points, including HL6 in Mathematics|
|Irish leaving Certificate||H2,H2,H2,H2,H2,H3, including H2 in Mathematics|
|Scottish Highers / Advanced Highers||AAAAB, including A in Mathematics|
If you're a non-native English speaking applicant you must provide evidence of your English language ability.
To apply to York, you will need to complete an online application via UCAS (the Universities and Colleges Admissions Service).
If you have faced obstacles to higher education, or you are returning to education after a long absence, you may benefit from the York Access Scheme.
Get in touch if you have any questions
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