BSc (Hons) Actuarial Science

The BSc in Actuarial Science undergraduate course at Heriot-Watt University is a well-structured programme offering detailed knowledge and skills essential in a wide array of risk management settings. The course provides a solid foundation in Mathematics, Probability, Statistics, and Economics, which are vital fields in actuarial science.Course Content: The course includes study materials broadly covering three areas: Mathematical Skills, Actuarial Modelling, and Business. The first two years focus on developing mathematical skills in areas such as calculus, algebra, statistics, and probability. The third year emphasizes actuarial modelling related to life insurance, pensions, and finance. In the final year, students learn how to apply these models in a business context. They are also introduced to stochastic modelling, extreme value theory, and actuarial risk management.Key Modules: The Key Modules are Mathematics for the Natural Sciences 1 and 2, Probability and Statistics I and Probability, Modelling and Simulation for two years consecutively. In the third year, it includes Life Insurance Mathematics I, Pensions and Finance Mathematics I. In the fourth year, the key modules are Life Insurance Mathematics II, Pensions and Finance Mathematics II, and Actuarial Risk Management.Accreditations: The course is fully accredited by the Institute and Faculty of Actuaries (IFoA), the UK-based professional body for actuaries. This means that successful students can gain exemptions from some of the professional examinations required to qualify as an actuary.Future Careers: The BSc in Actuarial Science provides a launching pad for a career in the actuarial profession, risk management, investment, banking, and finance. It equips students with competencies relevant to insurance companies, health organizations, pension funds, consulting firms, the government, and commercial organizations.For more information on this course, please visit the official course page here.