Core Courses

All Core Courses are 3 pts.

Course Number Course Title Related SOA/ CAS Exam On-Campus Online
STAT GU4203 Probability Theory* P/1
STAT GU4204 Statistical Inference* P/1  
ACTU PS5281 Theory of Interest FM/2
ACTU PS5821 Actuarial Methods — Part 1 MLC/3L
ACTU PS5822 Actuarial Methods—Part 2 MLC/3L
ACTU PS5823 Actuarial Models C/4
ACTU PS5830 Models for Finance & Economics MFE/3F
STAT GU4282 / GU4205 Linear Regression and Time Series Models / Linear Regression Models**  

* STAT GU4203 is a prerequisite for STAT GU4204. Both courses are offered in a semester-long format or an intensive format. Students cannot enroll in STAT GU4204 unless they have completed STAT GU4203.
** On-campus students are required to take STAT GU4282. Online students are required to take STAT GU4205. STAT GU4282 is approved for Validation by Educational Experience (VEE) credit.

Elective Courses

All Elective Courses are 3 pts.

Course Number Course Title On-Campus Online
STAT W4543 Survival Analysis  
STAT GU4207 Elementary Stochastic Processes  
BUSI PS5003 Corporate Finance
STAT GU4205 Linear Regression Models
ECON W3211 Intermediate Microeconomics  
ECON W3213 Intermediate Macroeconomics  
ACTU PS5620 Pensions and ERISA  
ACTU PS5621 Investment & ALM for Actuaries
ACTU PS5625 Health Insurance  
ACTU PS5630 Property/Casualty
ACTU PS5846 Quantitative Risk Management  
ACTU PS5848 Risk Management in P&C Insurance  
ACTU PS5850 Oral Communication for Actuaries  
ACTU PS5930 Life and Annuity Accounting  
BUSI B6301 Corporate Finance  
IEOR E4404 Simulation  
MATH W4071 Introduction to the Mathematics of Finance  
STAT GU4263 Statistical Inference and Time-Series Modeling  
STAT GU4265 Stochastic Methods in Finance  
STAT G8263 Stochastic Differential Equations and Applications  
STAT GU4291 Advanced Data Analysis
STAT W4240 Data Mining  
STAT GU4261 Statistical Methods in Finance  
STAT W4413 Nonparametric Statistics  
STAT GU4224 Bayesian Statistics  
STAT GU4221 Time Series Analysis  
STAT W4635 Models for Finance & Economics for Finance  
STAT GU4262 Stochastic Processes for Applications I  
ACTU PS5619 Pensions
ACTU PS5030 Intro to Life Insurance
BUSI PS5001 Introduction to Finance
BUSI PS5009 Financial Accounting
BUSI PS5020 Introduction to Marketing and Marketing Management
ACTU PS6100 Integrated Projects  

Elective Courses in Enterprise Risk Management

Fall

External Stakeholder Requirements

Operational Risk Management

Insurance Risk Management

Company Failures

Value-Based Enterprise Risk Management

Spring

Traditional Risk and ERM Practices

Strategic Risk Management

Financial Risk Management

Quantitative Risk Management

 

See Enterprise Risk Management elective course descriptions »

Elective courses in Enterprise Risk Management (ERM), all of which are offered only on campus, prepare students to design and implement ERM programs. These courses provide additional skills for traditional actuarial practice, such as building practical actuarial models, designing more effective capital models, enhancing product development and pricing techniques, and increasing the sophistication of financial management of insurance products.

The courses are ideal for individuals who seek employment in corporate enterprise risk management or capital management, or who plan to advance their careers by performing traditional actuarial functions at a higher level through the latest ERM tools and techniques.

Professional Development Courses

Proseminar is 2 pts. and the Internship is 1 pt. Each semester, all full-time students are required to enroll in ACTU PS5900 Proseminar in Actuarial Science unless they secure an internship, in which case they instead will enroll in ACTU PS5995 Internship in Actuarial Science. These courses are optional for part-time students.

Course Number Course Title On-Campus Online
PS5900 Proseminar in Actuarial Science
PS5995 Internship in Actuarial Science

STAT GU4203. Probability Theory. 3 pts.

Prerequisite

MATH V1101 and MATH V1102, or the equivalent.

Description

Fundamentals, random variables and distribution functions in one or more dimensions; moments, conditional probabilities, and densities; Laplace transforms and characteristic functions. Infinite sequences of random variables; weak and strong laws of large numbers; central limit theorem.

STAT GU4204. Statistical Inference. 3 pts.

Prerequisite

STAT GU4203, or the equivalent.

Description

Principles of statistical inference. Population parameters, sufficient statistics. Basic distribution theory. Point and interval estimation. Method of maximum likelihood. Method of least squares, regression. Introduction to the theory of hypothesis testing. Likelihood ratio tests. Nonparametric procedures. Statistical decision theory. Applications to engineering, medicine, and natural and social sciences.

ACTU PS5821. Actuarial Methods — Part I. 3 pts.

Prerequisite

STAT GU4203, STAT W4840

Description

The purpose this class is to develop the student’s knowledge of the theoretical basis of certain actuarial models and the application of those models to insurance and other financial risks. A thorough knowledge of calculus, probability, and interest theory is assumed. Knowledge of risk management at the level of Exam P is also assumed.

This class covers the material of the third examination of the 5 preliminary examinations of the Society of Actuaries and Casualty Actuarial Society classes. This is a core class of the Actuarial Science program. Students who have already taken and passed the MLC exam for SOA are exempted from this class and can substitute an elective.

ACTU PS5822. Actuarial Methods — Part II. 3 pts.

Prerequisite

ACTU PS5821

Description

The purpose this class is to develop the student’s knowledge of the theoretical basis of certain actuarial models and the application of those models to insurance and other financial risks. A thorough knowledge of calculus, probability, and interest theory is assumed. Knowledge of risk management at the level of Exam P is also assumed.

This class covers the material of the third examination of the 5 preliminary examinations of the Society of Actuaries and Casualty Actuarial Society classes. This is a core class of the Actuarial Science program. Students who have already taken and passed the MLC exam for SOA are exempted from this class and can substitute an elective.

ACTU PS5823. Actuarial Models. 3 pts.

Prerequisite

STAT W4840, STAT GU4204

Description

This course provides an introduction to modeling and covers important actuarial methods that are useful in modeling. The student will be introduced to useful frequency and severity models beyond those covered in MLC and MFE. The student will be required to understand the steps involved in the modeling process and how to carry out these steps in solving business problems. The student should be able to:

  1. Analyze data from an application in a business context;
  2. Determine a suitable model including parameter values; and
  3. Provide measures of confidence for decisions based upon the model.

The student will be introduced to a variety of tools for the calibration and evaluation of the models.

This class covers the material of the fifth examination of the 5 preliminary examinations of the Society of Actuaries and Casualty Actuarial Society classes. This is a core class of the Actuarial Science program. Students who have already taken and passed the C exam for SOA/CAS are exempted from this class and can substitute an elective.

ACTU PS5830. Models for Finance & Economics. 3 pts.

Description

We aim to learn basics of stochastic calculus and derivative pricing via the Black-Scholes formula and binomial tree models. The material of this course is applied by insurance and finance professionals such as actuaries, trader, and quants. Completing this course should provide a fundamental basis for candidates of the actuarial exam 3F/MFE.

STAT GU4282 / STAT GU4205. Linear Regression and Time Series Models / Linear Regression Models. 3 pts each.

STAT GU4282 Prerequisite

STAT GU4203 or the equivalent and STAT GU4204 or the equivalent.

STAT GU4282 Description

Theory and practice of regression analysis. Simple and multiple regression including testing, estimation and confidence procedures, modeling, regression diagnostics and plots, polynomial regression, fixed effects ANOVA and ANCOVA models, nonlinear regression, multiple comparisons, co-linearity and confounding, model selection. Emphasis on geometric approach to the theory and computer use to analyze data. Least squares smoothing and prediction, linear systems, Fourier analysis, and spectral estimation. Impulse response and transfer function. Fourier series, the fast Fourier transform, autocorrelation function, and spectral density. Univariate Box-Jenkins modeling and forecasting. Emphasis on applications. Examples from the physical sciences, social sciences, and business. Computing is an integral part of the course. This class satisfies the applied statistics VEE requirement.

STAT GU4205 Prerequisite

STAT GU4203 or the equivalent and STAT W3659 or the equivalent.

STAT GU4205 Description

Theory and practice of regression analysis. Simple and multiple regression including testing, estimation and confidence procedures, modeling, regression diagnostics and plots, polynomial regression, fixed effects ANOVA and ANCOVA models, nonlinear regression, multiple comparisons, co-linearity and confounding, model selection. Emphasis on geometric approach to the theory and computer use to analyze data.

STAT GU4207. Elementary Stochastic Processes. 3 pts.

Prerequisite

STAT GU4203, or the equivalent.

Description

Review of elements of probability theory. Poisson processes. Exponential distribution. Renewal theory. Wald's equation. Introduction to discrete and continuous time Markov chains and applications to queueing theory, inventory models, branching processes.

BUSI PS5003. Corporate Finance. 3 pts.

Prerequisite

One accounting course (ECON W4261 Introduction to Accounting and Finance or the equivalent) and one course in finance (BUSI PS5001 Introductory Finance or the equivalent). Appropriate professional experience may meet either prerequisite.

Description

An exploration of the central concepts of corporate finance for those who already have some basic knowledge of finance and accounting. This case-based course considers project valuation; cost of capital; capital structure; firm valuation; the interplay between financial decisions, strategic consideration, and economic analyses; and the provision and acquisition of funds. These concepts are analyzed in relation to agency problems: market domination, risk profile, and risk resolution; and market efficiency or the lack thereof. The validity of analytic tools is tested on issues such as highly leveraged transactions, hybrid securities, volatility in initial public offerings, mergers and acquisitions, divestitures, acquisition and control premiums, corporate restructurings, and sustainable and unsustainable market inefficiencies.

ECON GU5311. Intermediate Microeconomics. 3 pts.

Prerequisite

ECON W1105 or the equivalent; MATH V1101, MATH V1201 (or Math V1207).

Description

The determination of the relative prices of goods and factors of production and the allocation of resources.

ECON GU5313. Intermediate Macroeconomics. 3 pts.

Prerequisite

ECON W1105, or the equivalent; MATH V1101 or MATH V1107.

Description

National income accounting, output and employment; Keynesian and neo-Keynesian analysis; alternative schools; economic growth.

ACTU PS5620. Pensions and ERISA. 3 pts.

Description

This course is a workshop in ERISA and Taxation Rules for Actuaries. Actuarial science can be applied and cover a number of welfare benefit arrangements (such as life insurance, medical, disability, severance etc.), qualified plans and nonqualified deferred compensation plans. The services and products that are developed in the actuarial field may be governed by certain federal laws. In the U.S. these arrangements are governed by the Employee Retirement Income Security Act ("ERISA"). In addition, certain federal taxation and reporting rules may apply. To be successful in the field will require an understanding of these rules, reporting requirements, taxation rules and the government agencies (Internal Revenue Service, Department of Labor and Pension Benefit Guarantee Corporation) responsible for oversight of such arrangements. Other topics covered will include SEPs, Simple Plans, 403(b) plans, 457 plans and Nonqualified Deferred Compensation Plans.

ACTU PS5621. Investment & ALM for Actuaries. 3 pts.

Description

This course develops an understanding of the fundamental concepts of Investment and Asset Liability Management (ALM) for actuaries. A basic knowledge of financial mathematics is assumed. This course provides students with the knowledge to apply in a practical sense the theoretical framework that they learned from the foundational actuarial examinations. The objective of this course is to provide students with an overview of the tools and techniques mostly used by insurance companies and to a lesser extent by other financial intermediaries (such as pension plans or foundations and endowments) for Asset Liability Management. The course will be aimed at providing a practical insight into the investment process within the insurance industry and other financial intermediaries.

ACTU PS5625. Health Insurance 3 pts.

Description

This course develops an understanding of the fundamental concepts of health care design and management in the United States as well as an overview of the environment of health care and health care plans, followed by health plan designs and cost-control techniques. In addition, this course provides an overview of rules and regulations as it relates to managed care. A basic knowledge of financial mathematics is assumed.

ACTU PS6100. Integrated Projects in Actuarial Science. 3 pts.

Prerequisite

Students must have their transcripts and resumes approved by the program director in order to be eligible for this course.

Description

This course is particularly applicable to students who are looking to develop their skills in a particular area of application of actuarial science. The course is delivered in a project format that will integrate specific elements of the curriculum into an applied project, giving students hands-on actuarial science application experience. Students may team up and undertake a special actuarial project and present as consultants or in house actuaries to a panel of actuaries who will grade the overall effectiveness of their approach, solution and communication. This course will help students increase their understanding of the real-world constraints under which actuaries operate. The course also serves the purpose of sharpening the students analytical and communication skills, by allowing them to apply their previous experience and knowledge gained from the program to real-world problems.

ACTU PS5630. Property and Casualty. 3 pts.

Description

This course introduces the general principles of ratemaking and reserving as they relate to P&C insurance products. Students will analyze data, select appropriate techniques, and develop solutions to problems. This course addresses the advantages and disadvantages of the various ratemaking and reserving techniques as they are applied to specific situations and different lines of business. Classification of insureds for the purpose of risk stratification and other important ratemaking topics are also examined.

ACTU PS5846. Quantitative Risk Management. 3 pts.

Description

Economic Capital modeling requires the ability to create and utilize dynamic models, most of which require use of matrix algebra using SAS, Mathematica, MATLAB, or R. This course will use the R language, frequently used when initially designing an ERM model. Students will learn:

  1. How to use matrix algebra to (a) create time series models on economic indicators and stock and commodity returns; (b) model continuous autoregressive stochastic differential equations to produce correlated risk scenarios; (c) use empirical principal component analysis to understand interaction within and between various risks; and (d) create efficient frontier models
  2. How to use statistical sampling to fit and use copulas in development of risk scenarios with extreme dependence
  3. How the above tools are used in constructing ERM models for P&C insurance, life insurance, and mining industry sectors
  4. How to create an ERM model that uses either statistical sampling combined with a copula or correlated risk scenarios to determine economic capital

ACTU PS5850. Oral Communication for Actuaries. 3 pts.

Description

This course is a workshop in communication techniques. Students make presentations individually and in teams. It covers communicating effectively, structuring presentations, delivery techniques and PowerPoint presentations.

ACTU PS5870. Enterprise Risk Management. 3 pts.

Description

Enterprise risk management (ERM) is a significant advancement in the field of risk management. ERM provides a process for companies to identify, measure, manage, and disclose all key risks to increase value to stakeholders. ERM provides a better framework for fundamental risk-return decision-making at the highest levels, elevating ERM to an advancement in business management. This course will cover the latest methodologies in ERM and how they are implemented in practice, and will address all major aspects of ERM, including ERM framework; risk identification; risk quantification; risk decision-making; risk messaging; and risk governance. Students will learn how to effectively design and implement an ERM program at corporate entities (financial services and non-financial services companies) as well as non-corporate entities, such as nonprofits, government agencies, and for individuals.

ACTU PS5930. Life and Annuity Accounting. 3 pts.

Course Description

This course is offered in two consecutive sections, each exploring a different aspect of the field. Students may register for one or both sections.

Section 001 - Life and Annuity Insurance
One of core actuarial functions in a life insurance company is the financial reporting which involves the valuation of the life insurance liabilities.  There are many types of valuations (e.g., statutory valuation, the general acceptable accounting principle valuation, taxation valuation, etc.).  Also, there are many types of accounting principles that valuation actuaries must follow (e.g., Statutory accounting principle, General Acceptable Accounting Principle, International Accounting Principle, Tax based accounting, etc.).  There are also valuation requirements, insurance law and regulations, and/or actuarial guidelines that valuation actuaries must comply with.

This course will provide students with a solid foundation in the valuation of life insurance liabilities under US Statutory, US General Acceptable Accounting Principle, tax methods and regulations.  The course will equip students to take exam Individual Life and Annuities U.S.–Company/Sponsor Perspective (CSP-IU) that fits the current SOA FSA exam scheme (proceed to become FSA).

BUSI B6301. Corporate Finance, A. 3 pts.

Description

This is the core course in finance that may be considered the first course in corporate perspective. It focuses on the primary tasks of the corporate treasurer, showing students how to use ratio analysis to assess corporate performance and project financial statements and cash needs for both projects and whole companies. It devotes substantial time to the question of how much debt is optimal in a firm's capital structure. It then introduces discounted cash flow and shows how to estimate a weighted average cost of capital to use as a discount rate appropriate to a particular company or project. By the end of the course, students have all the tools necessary to value a company by projecting its free cash flow and discounting it at an appropriate rate.

IEOR E4404. Simulation. 3 pts.

Prerequisite

SIEO W3600 or SIEO W4150 and knowledge of Java, C, or FORTRAN.

Description

Generation of random numbers from given distributions; variance reduction; statistical output analysis; introduction to simulation languages; application to financial, telecommunications, computer, and production systems. Recitation Section Required.

MATH W4071. Introduction to the Mathematics of Finance. 3 pts.

Prerequisite

MATH V1202, V3027, STAT W4150, SEIOW4150, or their equivalents.

Description

The mathematics of finance, principally the problem of pricing of derivative securities, developed using only calculus and basic probability. Topics include mathematical models for financial instruments, Brownian motion, normal and lognormal distributions, the BlackûScholes formula, and binomial models.

STAT GU4263. Statistical Inference and Time-Series Modeling. 3 pts.

Prerequisite

STAT GU4203 and GU4204 or the equivalent.

Description

Modeling and inference for random processes, from natural sciences to finance and economics. ARMA, ARCH, GARCH and nonlinear models, parameter estimation, prediction and filtering.

STAT GU4265. Stochastic Methods in Finance. 3 pts.

Prerequisite

STAT G6501 or the equivalent.

Description

Mathematical theory and probabilistic tools for modeling and analyzing security markets are developed. Pricing options in complete and incomplete markets, equivalent martingale measures, utility maximization, term structure of interest rates.

STAT G8263. Stochastic Differential Equations and Applications. 3 pts.

Prerequisite

Statistics G6105-G6106 or member of the department’s permission.

Description

Elements of the general theory of stochastic processes; Martingales; Doob-Meyer decomposition; Strochastic integrals; differential equations; existence and uniqueness of strong and weak partial differential equations; comparison and approximation theorems; Stroock-Varadhan theory; applications to stochastic optimization.

STAT GU4291. Advanced Data Analysis. 3 pts.

Description

This is a course on getting the most out of data for students in statistics, biostatistics, the sciences, social sciences, humanities, health sciences, law and engineering. The emphasis is on hands-on experience, involving case studies with real data and using the statistical package S, which will be taught from scratch. Students are also be encouraged to use other statistical packages of their choice, e.g., SAS, SPSS or BMDP. The course covers exploratory data analysis, model formulation, goodness of fit testing, and other standard and non-standard statistical procedures, including linear regression, analysis of variance, nonlinear regression, generalized linear models, survival analysis, time series analysis, and modern regression methods. Prospective students and auditors of the class are invited to propose a data set of their choice for use as case study material. In addition to homework and a midterm, the grade will be based on a final project. There will be no final exam.

STAT W4240. Data Mining. 3 pts.

Description

Data Mining is a dynamic and fast growing field at the interface of statistics and computer science. The emergence of massive datasets containing millions or even billions of observations provides the primary impetus for the field. Such datasets arise, for instance, in large-scale retailing, telecommunications, astronomy, computational biology, and internet commerce. The analysis of data on this scale presents exciting new computational and statistical challenges. This course provides an overview of current research in data mining and is suitable for graduate students from many disciplines. Specific topics covered include databases and data warehousing, exploratory data analysis and visualization, descriptive modeling, predictive modeling, pattern and rule discovery, text mining, Bayesian data mining, and causal inference.

STAT GU4261. Statistical Methods in Finance. 3 pts.

Description

This is a master-level course introducing statistical methodologies in quantitative finance. Financial applications and statistical methodologies are intertwined in all lectures, with several research topics being introduced through problems in a term project. Lecture notes by the instructor will be distributed. The course will cover: linear regression with applications to single and multi-factor pricing models, multivariate analysis and their applications in Markowitz’s portfolio management, estimation and modeling of volatilities, calculation of value-at-risk, nonparametric methods with applications to option pricing and interest rate markets.

STAT GU4205. Linear Regression Models. 3 pts.

Prerequisite

STAT GU4203 or the equivalent and STAT W3659 or the equivalent.

Description

Theory and practice of regression analysis. Simple and multiple regression including testing, estimation and confidence procedures, modeling, regression diagnostics and plots, polynomial regression, fixed effects ANOVA and ANCOVA models, nonlinear regression, multiple comparisons, co-linearity and confounding, model selection. Emphasis on geometric approach to the theory and computer use to analyze data.

STAT W4413. Nonparametric Statistics. 3 pts.

Description

Statistical inference without parametric model assumption. Hypothesis testing using ranks, permutations, and order statistics. Nonparametric analogs of analysis of variance. Tolerance limits. Robust estimation. Introduction to sequential statistical procedures. Applications to quality control and clinical trials.

STAT GU4221. Time Series Analysis. 3 pts.

Prerequisite

STAT GU4205 or the equivalent

Description

Least squares smoothing and prediction, linear systems, Fourier analysis, and spectral estimation. Impulse response and transfer function. Fourier series, the fast Fourier transform, autocorrelation function, and spectral density. Univariate Box-Jenkins modeling and forecasting. Emphasis on applications. Examples from the physical sciences, social sciences, and business. Computing is an integral part of the course.

STAT W4635. Models for Finance & Economics for Finance. 3 pts.

Prerequisite

STAT GU4203, or the equivalent.

Description

Discrete and continuous time Markov chains, poisson process, Brownian motion, martingales, stochastic integration, change of measure.

STAT GU4262. Models for Finance & Economics and Applications, I. 3 pts.

Prerequisite

STAT GU4203 or the equivalent.

Description

Advanced treatment of discrete and continuous-time Markov chains; elements of renewal theory; Martingales and their basic properties. Brownian motion: construction, basic properties, sample paths. Stochastic integration, Ito's rule, applications. Introduction to stochastic differential equations and diffusion processes.

STAT W4543. Survival Analysis. 3 pts.

Prerequisite

STAT GU4204 or the equivalent

Description

Survival distributions, types of censored data, estimation for various survival models, nonparametric estimation of survival distributions, the proportional hazard and accelerated lifetime models for covariate data, regression analysis with lifetime data.

ACTU PS5900. Proseminar in Actuarial Science. 2 pts.

Description

Industry representatives conduct a series of noncredit seminar sessions designed to expose students to the actuarial profession as well as to address a range of topics in actuarial science.

ACTU PS5995. Internship in Actuarial Science. 1 pt.

Description

Students who have secured either an on-campus or off-campus actuarial internship may enroll in this course for credit. Students need to register for this course to receive credit and enrolled students will be expected to submit a paper relating their internship experience to coursework they have completed. Although the student is responsible for finding and confirming his or her own internship, the student may utilize the program’s resources, especially the actuarial recruiter, the résumé review and critique, and the Executive Career Coaching, to help identify and pursue an internship.

ACTU PS5619. Pensions. 3 pts.

Description

This course is a workshop in ERISA and Taxation Rules for Actuaries. Actuarial science can be applied and cover a number of welfare benefit arrangements (such as life insurance, medical, disability, severance etc.), qualified plans and nonqualified deferred compensation plans. The services and products that are developed in the actuarial field may be governed by certain federal laws. In the U.S., these arrangements are governed by the Employee Retirement Income Security Act ("ERISA"). In addition, certain federal taxation and reporting rules may apply. To be successful in the field will require an understanding of these rules, reporting requirements, taxation rules and the government agencies (Internal Revenue Service, Department of Labor and Pension Benefit Guarantee Corporation) responsible for oversight of such arrangements. Other topics covered will include SEPs, Simple Plans, 403(b) plans, 457 plans and Nonqualified Deferred Compensation Plans.

ACTU PS5030. Introduction to Life Insurance. 3 pts.

Description

This course will provide an overview of insurance company investments and the regulations and liabilities that drive the insurance company investment decisions. All life insurance actuaries must master the concepts of financial mathematics and how to apply those concepts to calculate projected present values and accumulated cash flows. You will study these concepts and apply them to calculate Life Insurance and Annuity reserves, new business pricing, and profitability metrics. This will include exploring various types of product designs. Actuaries play an important part in development and interpretation of the various financial statements that insurance companies are required to provide to the public.

The course will illustrate the content of these statements, exhibits, and schedules and provide a description of their purpose. Insurance cash flows are unique in that there are many uncertainties and those cash flows stretch out into the future over a considerable amount of time.

This leads to another important aspect of actuarial science, which is risk analysis and risk management. This course will study how companies map risks and set aside capital to provide for the uncertainties above and beyond those provided for by standard reserves. With the recent economic events of 2008 and their continuing effects, Enterprise Risk Management (ERM) has become more focused and we will explore ERM and the role actuaries play as part of overall insurance company risk management.

BUSI PS5001. Introduction to Finance. 3 pts.

Description

Students will be introduced to the fundamental financial issues of the modern corporation. By the end of this course, students will understand the basic concepts of financial planning, managing growth; debt and equity sources of financing and valuation; capital budgeting methods; and risk analysis, cost of capital, and the process of securities issuance.

BUSI PS5009. Financial Accounting. 3 pts.

Description

Students will examine the generally accepted account principles (GAAP) underlying financial statements and their implementation in practice. The perspective and main focus of the course is from the users of the information contained in the statements, including investors, financial analysts, creditors and, management. By the end of this class students will be able to construct a cash flow statement, balance sheet and decipher a 10K report.

BUSI PS5020. Introduction to Marketing and Marketing Management. 3 pts.

Description

Students will learn fundamental marketing concepts and their application. By the end of this class you will know: the elements of a market, company strategy, how to identify customers and competition, the fundamental elements of the marketing mix (product, price, placement and promotion) how to research consumer behavior, and pricing strategies. Students will have extensive use of case study projects.

The University reserves the right to withdraw or modify the courses of instruction or to change the instructors as may become necessary.