Actuarial Science Concentration
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Concentration Courses
*Please note with this concentration: Business Administration majors complete all math courses to avoid duplication and meet requirements for the concentration. Mathematics majors complete all business-related courses to avoid duplication and meet requirements for the concentration. *
ACC 20364 | Accounting for Business Operations (4 Credits)
Introduces operating activities of business. Emphasis on using income statements to plan and evaluate the operations of a for-profit entity.
ECO 20163 | Macroeconomics (3 Credits)
Focuses on inflationary consequences of monetary and fiscal policies designed to eliminate poverty and unemployment, significance of money and government deficits on attainment of goals of high employment and economic growth in a non-inflationary environment and role of the dollar in international trade.
ECO 20263 | Microeconomics (3 Credits)
Study of the role of prices in allocating and developing scarce resources to meet the needs and demands of consumers, the impact of the profit motive on business size and efficiency, the economic power of large-scale business firms, the interplay of private and public choice through price controls, business regulation and taxation.
ECO 30363 | Money and Banking (3 Credits)
Studies role of money and banking in United States economic development and in international finances, significance of money, banking history and development, commercial banking operations and structure, central banking and monetary management, alternative international monetary systems, and monetary theory and policy. PrerequisiteL ECO 20163 Macroeconomics.
MAT 20043 | Discrete Mathematics (3 Credits)
Offers an intuitive exposure to mathematical concepts useful in a wide variety of disciplines. The course focuses on concepts associated with propositional logic. Prerequisite: Score of 16 on math placement exam non-math track or Score of 7 on math placement exam math track or MAT 10443 Intermediate Algebra.
MAT 21044 | Calculus I (4 Credits)
First in a series of three courses that offers an intuitive approach to the major concepts and techniques of single-variable calculus. Topics include limits, continuity, derivatives of elementary functions and their application, extrema, optimization, elementary integration applications, the Fundamental Theorem of Calculus, and I'Hospital's rule. Prerequisite: Score of 16 on math-track initial placement OR a "C" or better in MAT 11143 Precalculus.
MAT 21144 | Calculus II (4 Credits)
Second course in a series of three courses that offers an intuitive approach to the major concepts and techniques of single-variable calculus. Topics covered include techniques of integration, integration application, first-order linear and first-order separable differential equations, sequences, series, convergence tests, power series, and the calculus of parametric and polar equations. Prerequisite: A "C" or better in MAT 21044 Calculus I (or equivalent).
MAT 22043 | Linear Algebra (4 Credits)
Developmental course on the abstraction of vector spaces and linear transformations. Topics to be covered include vector spaces, linear transformations, systems of linear equations, matrices and their properties, determinants, quadratic forms, eigenvalues and eigenvectors, the Gram-Schmidt process, and the Jordan canonical form. Prerequisite: A "C" or better in MAT 21044 Calculus I (or equivalent).
MAT 30144 | Financial Mathematics (4 Credits)
Offers a conceptual introduction to the fundamental concepts of interest theory and financial derivatives. Topics covered include present and accumulated values for various cash flows as a basis for reserving, valuation, pricing, asset liability management, investment income, capital budgeting, contingent cash flows, options, hedging strategies, and no-arbitrage derivations. Prerequisite: MAT 21144 Calculus II.
MAT 31044 | Calculus III (4 Credits)
Third course in a series of three courses that offers an intuitive approach to major concepts and techniques of multi-variable calculus. Topics to be covered include differential and integral calculus of functions of several variables, partial differentiation, LaGrange multipliers, vector fields, line integrals, linear second-order differential equations and associated applications. Prerequiste: A "C" or better in MAT 21144 Calculus II.
MAT 31143 | Probability (4 Credits)
An intuitive study of calculus based probability and its application to inferential statistics. Topics covered include discrete, continuous, and bivariate random variables and their distribution, expectations, conditional expectation, Bayes' Rule, moment generating functions, covariance, variance, distributions for functions of random variables, order statistics and their distribution, correlation, and least squares regression modeling. Prerequisite: A "C" or better in MAT 21144 Calculus II (or equivalent).
OAD 31565 | Quantitative Analysis for Managerial Decision-Making (4 Credits)
Emphasis on the managerial application and implications of quantitative analysis techniques. From the management of resources to financial forecasting, financing and investment, the course incorporates the use of quantitative analysis techniques using software applications including Microsoft Excel and Tableau to assit in practical business decision-making and managing organizational goals and strategies. Students employ quantitative analysis to an integrated case study. Prerequisites: ACC 20364.
MAT 32044 | Inferential Statistics (4 Credits)
Offers a calculus based intuitive treatment of inferential statistics structure. Applications include point estimation, single parameter and two-sample hypothesis testing, power, Neyman-Pearson Lemma, p-value, beta, ANOVA, randomized block analysis and design, Goodness-of-Fit, Wilcoxon Sign test, Mann-Whitney U test, Friedman Test, Kruskal-Wallis H Test, and rank correlation coefficient. Prerequisite: A "C" or better in MAT 31143 Probability (or equivalent).
MKT 31863 | Principles of Marketing (3 Credits)
Analysis of consumer behavior and configuration of target markets. Emphasis on management of organization activities designed to satisfy target market planning, pricing, promotion and distribution of the product or service.
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