Course Description Document

Course Title Mathematics with Actuarial Science (2024-25)

Course Code 4702

Award Title Bachelor of Science with Honours (BSc (Hons))

Awarding Body University of Southampton

Teaching Institution University of Southampton

Regulated by Office for Students

Accreditation Institute and Faculty of Actuaries

Regulations The Regulations of the University can be found on the University's

Governance Webpages:
https://www.southampton.ac.uk/about/governance/regulations-
policies

Location of study Southampton

Length of the course 34 Months

Tuition Fees Fees for students can be located by the student fees page.
https://www.southampton.ac.uk/studentservices/money-matters/
student-fees/index.page

Course Overview
Actuaries are highly skilled quantitative professionals who are primarily concerned with the identification,
quantification, analysis, and management of various types of risk, particularly those with long term
financial consequences. They are problem solvers, tackling the uncertainties of future events using their
skills in mathematics, probability and statistics. Their expertise is essential to the proper management of
life, general, and health insurance companies, pension funds, and investment firms, and their skills are
very highly regarded and valued throughout the financial services industry.

This degree programme provides you with the technical skills in mathematics and a professional level
education in actuarial science sufficient to prepare you to embark on a professional career as an actuary.

Transfer to this programme at the end of the first semester is possible from a number of other
programmes within Mathematical Sciences.
Your contact hours will vary depending on your module/option choices. Full information about contact
hours is provided in individual module profiles.

Please Note: New students entering from September 2019 will, depending on academic performance, be
eligible for exemption from the C2019 Core Principles Subjects CS1, CS2, CM1, CM2, CB1, and CB2,

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whereas existing students from previous entry cohorts will, depending on academic performance,
continue to be eligible for exemption from the Core Technical Subjects CT1-CT8 (these exemptions will
be mapped to corresponding C2019 Core Principles Subjects by the IFoA, post graduation, according to
their transition rules).

Aims of the Course

The aims of the programme are to:

•Introduce you to the main basic areas of mathematics;

•Develop your understanding of abstract mathematical concepts;
•Offer you the opportunity to study advanced mathematical concepts and techniques;
•Develop your modelling and problem solving skills;
•Offer you the opportunity to construct an individual programme of study within a coherent framework;
•Offer you the opportunity to study applications of mathematics in a variety of contexts which utilize
physical and/or statistical models;
•Introduce you to the theoretical concepts, methods, and techniques of actuarial science;
•Develop your understanding of practical actuarial and statistical modelling and of the context in which
such work is undertaken;
•Offer you the opportunity to study actuarial topics selected from a range of options, but within a
coherent framework;
•Give you sufficient grounding in actuarial science for employment as an actuarial analyst;
•Offer you the opportunity to gain exemptions from the professional examinations of the Institute and
Faculty of Actuaries;
•Provide you with the opportunity to gain practical experience of applying problem-solving and other
skills learned by working on individual and group research projects;
•Help you to develop subject specific and key transferable skills: personal organisation, problem solving,
logical argument, deductive reasoning and analysis, abstraction and generalisation; locating, retrieving,
synthesising, and using information; and written and oral communication.
•Provide some of the basic IT skills necessary for further study and employment, including word
processing and use of the internet.

Course Structure
The tables below provide a list of the modules that make up your course.

Each module is worth a specified number of credits: you can take a combination of core and compulsory
modules enabling you to cover key subject knowledge. Some courses have option modules which enable
you to develop your own interests.

Each level of your programme requires a certain number of credits. The number of option modules you
can take depends on the number of core modules at a given level and this is also influenced by the
requirements of the regulatory requirements for professionally accredited courses. Some courses also
have pre and co-requisites, and these are included in individual module information.

Your learning will be led by the latest research, and modules can change periodically to reflect
developments in the discipline. You can always find the most up-to-date information about your modules
and who is teaching them via the information on our webpages and, post enrolment, via the Faculty hub.
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If we have insufficient numbers of students interested in an option module, it may not be offered. If an
option module will not be run, we will advise you as soon as possible and help you choose an alternative
module.

The core and compulsory modules available on your course are as follows:

Part I
Typical programme content

This degree programme provides a strong education in mathematics, statistics and actuarial science.

New students entering from September 2019 will, depending on academic performance, be eligible for
exemption from the C2019 Core Principles Subjects CS1, CS2, CM1, CM2, CB1, and CB2, whereas
existing students from previous entry cohorts will, depending on academic performance, continue to be
eligible for exemption from the Core Technical Subjects CT1-CT8 (these exemptions will be mapped to
corresponding C2019 Core Principles Subjects by the Institute and Faculty of Actuaries, post graduation,
according to their transition rules).

In addition to this, our Curriculum Innovation Programme offers our students the chance to take optional
modules outside their core disciplines. This allows you to personalise your education, and to develop
new skills and knowledge for your future.

Programme details

The structure of the programme and the modules currently offered are set out below. Of the modules
shown in each year of your programme, some are compulsory (i.e. enrolment is automatic) and others
are optional. In each year, you are directed to which modules are compulsory and which are optional.
The optional modules listed constitute an indicative list. There will always be choice but the options
might vary between years. A list of optional modules will be available to you via the Student Record
Self-Service system once you enrol at the University.

The programme comprises three parts, each corresponding to one year of full-time study. You will
normally be required to take 4 modules (30 ECTS/60 CATS) each semester, i.e. 8 modules (60 ECTS/120
CATS) in each year of the programme. Each CAT credit can be considered as the equivalent of
approximately ten hours of study. All the modules offered in this programme are 7.5 ECTS/15 CATS
modules. This means that each module comprises around 150 hours of study divided into contact time
(e.g. lectures, seminars, workshops) and non-contact time when you will be engaged in directed study
(preparation for classes) and independent study when you will be involved in undertaking assignments
and preparing for and taking examinations.

The option modules shown below constitute an indicative list; there will always be choice but the options
might vary between years. A full list of modules and rules will be available to you via the Student Record
Self-Service system once you enrol at the University

NOTE: Students must take at least five "named degree options" from the following modules:

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ECON1021 Principles of Macroeconomic
ECON1020 Foundations of Microeconomics or ECON1022 Principles of Microeconomics
MATH2012 Stochastic Processes
MANG2014 Accounting and Finance for Non-Specialists
MATH3063 Actuarial Mathematics I
MATH3022 Mathematical Finance
MATH3066 Actuarial Mathematics II
MATH3085 Survival Models
STAT3010 Statistical Methods in Insurance

NOTE: Students must take at least 16 MATH modules over the three years of full-time study, including at
least 4 level 3 MATH (MATH3XXX) modules.

Part I Compulsory

Code Module Title ECT Type

S
MATH1046 First Year Mathematics Workshop 0 Compulsory
MATH1024 Introduction to Probability and Statistics 7.5 Compulsory
MATH1049 Linear Algebra II 7.5 Compulsory
MATH1060 Multivariable Calculus 7.5 Compulsory
MATH1058 Operational Research I and Mathematical Computing 7.5 Compulsory

Part I Core

Code Module Title ECT Type

S
MATH1059 Calculus 7.5 Core
MATH1048 Linear Algebra I 7.5 Core

Part I Option - Rule 1

Select 2 modules (30 credits)

It is normally expected that students select ECON1021 & (ECON1020 or ECON1022), as these
correspond to professional actuarial exemptions. If you do not want to qualify for this you may choose
not to take these modules.

Students may select ECON1020 or ECON1022 (Not both). If you have NOT passed Economics at A Level,
or an equivalent level, select ECON 1020 only, if you HAVE passed Economics at A Level select ECON
1022 only.

Programme regulations require you take minimum of 5 'named modules' during your degree.
These are;
Part 1: ECON1021 & (ECON1020 or ECON1022)
Part 2: MATH2012, MANG2014
Part 3: MATH3085, MATH3063, MATH3022, MATH3066, STAT3010.

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You must take a minimum of 16 MATH modules (240 Credits) from a mix of core/compulsory/optional
modules during your degree. MATH modules included in the 'named modules' list may contribute to this.

There is flexibility for students to take alternative modules but any request must be discussed with &
approved by the Programme Director.

Part I Option - Rule 1 Semester 1 Optional Modules

Please select ECON1020 if you do not have A level Economics OR ECON1022 if you do have A level
Economics
Code Module Title ECT Type
S
ECON1020 Foundations of Microeconomics 7.5 Optional
ECON1022 Principles of Microeconomics 7.5 Optional

Part I Option - Rule 1 Semester 2 Optional Modules

Please select 15 credits from the following
Code Module Title ECT Type
S
MATH1057 Dynamics and Relativity 7.5 Optional
ECON1021 Principles of Macroeconomics 7.5 Optional

Part II

Part II Compulsory

Code Module Title ECT Type

S
MATH2039 Analysis 7.5 Compulsory
MATH2040 Financial Mathematics 7.5 Compulsory
MATH2038 Partial Differential Equations 7.5 Compulsory
MATH2011 Statistical Distribution Theory 7.5 Compulsory
MATH2010 Statistical Modelling I 7.5 Compulsory

Part II Option - Rule 1

Select 45 credits from the list of optional modules.

Note: Programme regulations require you to undertake a minimum of 5 'named degree modules' during
your degree. 'Named degree modules' are;
Part 1: ECON1021 & (ECON1020 or ECON1022)
Part 2: MATH2012, MANG2014
Part 3: MATH3085, MATH3063, MATH3022, MATH3066, STAT3010.
Please bear this in mind when making your selections below.

You are also required to undertake a min of 16 MATH modules (240 Credits) from a combination of
Core/Compulsory/Optional modules during your degree. MATH modules included in the `named degree
modules' list may contribute to the required modules.

Note: Please do NOT select modules you have taken previously. Please also ensure that you select an
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even split of credits overall by semester, including your compulsory modules.

+ LANGXX15 - Language Module (15 credits)

+ LANGXX30 - Language Module (30 credits)

Code Module Title ECT Type

S
MANG2014 Accounting and Finance for Non-Specialists 7.5 Optional
ECON2042 Econometrics with Big Data 7.5 Optional
MATH2003 Group Theory 7.5 Optional
ECON2039 Intermediate Microeconomics 7.5 Optional
MANG2004 Portfolio Theory and Financial Markets 7.5 Optional
MATH2012 Stochastic Processes 7.5 Optional

Part III

Part III Compulsory

Code Module Title ECT Type

S
MATH3092 Mathematics Project 15 Compulsory

Part III Option - Rule 1

Select 45 to 90 CATS from a combination of the modules listed in PT3 R1 G1, PT3 R1 G2 and PT3 R1 G3.

Note: Programme regulations require you to undertake a minimum of 5 'named degree modules'
during your degree. 'Named degree modules' are;
Part 1: ECON1021 & (ECON1020 or ECON1022)
Part 2: MATH2012, MANG2014
Part 3: MATH3085, MATH3063, MATH3022, MATH3066, STAT3010.
Please bear this in mind when making your selections below.

You are also required to undertake a min of 16 MATH modules (240 Credits) from a combination of
core/compulsory/optional modules during your degree. MATH modules included in the `named degree
modules' list may contribute to the required modules.

Note: Please do NOT select modules you have taken previously. Please also ensure that you select an
even split of credits overall by semester, including your compulsory modules.

Part III Option - Rule 1 Group 1

Select 3 modules (45 credits) up to a maximum of 6 modules (90 credits) from the following:
Code Module Title ECT Type
S
MATH3063 Actuarial Mathematics I 7.5 Optional
MATH3066 Actuarial Mathematics II 7.5 Optional
MATH3072 Advanced Fluid Dynamics 7.5 Optional
MATH3083 Advanced Partial Differential Equations 7.5 Optional
MATH3088 Complex Analysis 7.5 Optional

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MATH3014 Design and Analysis of Experiments 7.5 Optional
MATH3078 Further Number Theory 7.5 Optional
MATH3033 Graph Theory 7.5 Optional
MATH3076 Hilbert Spaces 7.5 Optional
MATH3084 Integral Transform Methods 7.5 Optional
MATH3052 Mathematical Biology 7.5 Optional
MATH3022 Mathematical Finance 7.5 Optional
MATH3017 Mathematical Programming 7.5 Optional
MATH3018 Numerical Methods 7.5 Optional
MATH3016 Optimization 7.5 Optional
MATH3006 Relativity, Black Holes and Cosmology 7.5 Optional
MATH3044 Statistical Inference 7.5 Optional
MATH3091 Statistical Modelling II 7.5 Optional
MATH3090 Structure and Dynamics of Networks 7.5 Optional
MATH3085 Survival Models 7.5 Optional

Part III Option - Rule 1 Group 2

Select 0 modules up to a maximum of 1 module (15 credits) from the following.
Note: You are permitted to only 'backtrack' once to take a Part II module.
Please note you cannot take MATH2049 Geometry and Topology if you have previously taken
MATH2046.

Any level NQF5 module in subject MATH.

A maximum of 15 credits in any level NQF5 module in subject UOSM.
Code Module Title ECT Type
S
MANG2004 Portfolio Theory and Financial Markets 7.5 Optional

Part III Option - Rule 1 Group 3

Select 0 modules up to a maximum of 3 modules (45 credits) from the following.

+ LANGXX15 - Language Module (15 credits)

+ LANGXX30 - Language Module (30 credits)
Code Module Title ECT Type
S
MANG3020 Futures and Options 7.5 Optional
MANG3009 International Banking 7.5 Optional
EDUC3040 Learning and Teaching Mathematics 7.5 Optional
ECON3015 Principles of Finance 7.5 Optional
MANG3034 Project Management 7.5 Optional
STAT3010 Statistical Methods in Insurance 7.5 Optional

Learning and Teaching

Your overall workload consists of class contact hours, independent learning, and assessment activity, with
each ECTS credit taken equivalent to 20 hours of student effort. While your actual contact hours may
depend on the option modules you select, the information available on our webpages give an indication of
how much time you will need to allocate to different activities.

When not attending lectures, seminars and other timetabled sessions you will be expected to continue
learning independently through self-study. Typically, this will involve reading journal articles and books,
working on individual and group projects, undertaking research in the library, preparing coursework
assignments and presentations, and for other types of assessments and examinations.

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Full information about contact hours is provided in individual module information.

Should you wish to revisit this following enrolment, these indications have been located in a permanent
resource. This can be accessed at any time via the link below:

https://sotonac.sharepoint.com/teams/CourseSupplementaryInformation/SitePages/Study-Time.aspx

How we'll assess you

Summative assessment(s) usually take place at the end of each module, although some may have interim
assessments throughout. Assessment methods might include written examinations and a range of
coursework assessments such as essays, reports, portfolios, performance, presentations and projects for
example. The marks from summative assessments count towards your module mark.

Each module normally contains at least one piece of practice or formative assessment for which you
receive feedback. Formative assessments are developmental and any results do not count towards your
module mark, but they are an important part of your learning.

The information available on our website gives an indication of the assessment methods used on your
course, at each level of your course.

Should you wish to revisit this following enrolment, these indications have been located in a permanent
resource. This can be accessed at any time via the link below:
https://sotonac.sharepoint.com/teams/CourseSupplementaryInformation/SitePages/Assessment.aspx

Staff involved in delivering the different elements of the

course
You will be taught by an experienced teaching team whose expertise and knowledge are closely matched
to the content of the modules on your course. The team includes senior academics, professional
practitioners, specialists with industry experience, demonstrators and technical officers.

Postgraduate research students who have undertaken appropriate training may also contribute to the
teaching of seminars if their research specialism is directly related to the topic of the module and may
also be involved in practical classes, project work and field trips. All contributions will be carried out
under the supervision of the module leader.

Fees

What your fees pay for

Your tuition fees pay for the full cost of tuition and standard exams.

Extra costs you may experience

Accommodation and living costs, such as travel and food, are not included in your tuition fees. There may
also be extra costs for retake and professional exams.

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Depending on the nature of your course, you may be able to choose modules which may have additional
costs, such as field studies, travel overseas or industrial placements which will change the overall cost of
your course. Details of these costs can be found in module information.

Please also ensure you read the section on additional costs in the Fees, Charges and Expenses
Regulations.

The following course-related costs are not included in your fees:

Type Details

Calculators Where a calculator is required, all Casio Calculators are allowed but they
must be Non-Programmable, Scientific models. More information is
available in the Examination Regulations
https://www.southampton.ac.uk/studentadmin/assessment/assess-
overview/exam-regulations.page

Stationery You will be expected to provide your own day-to-day stationery items, e.g.
pens, pencils, notebooks, etc. Any specialist stationery items that you may
need will be specified in the relevant module profile.

Textbooks Where a module specifies essential texts, the Library will identify the
optimal option(s) to support the module via the course Reading List. This
may include e-books (ideally with unlimited concurrent usage) or a
digitised chapter extract, supported by a limited number of print books
(where available). You may request that the Library purchases additional
print copies via 'suggest a book', borrow an additional copy via our inter-
library-loans service or you may prefer to buy your own copies for high
demand titles.

Printing In most cases, written coursework such as essays and projects are
submitted online. However it may be necessary to submit a hard copy of
some projects, business projects and dissertations. The costs of printing a
hard copy for submission of such work will be your responsibility. You will
also have to cover the cost of photocopying.
https://www.southampton.ac.uk/isolutions/students/printing.

Software Licenses The software required for the programme is available on all public
workstations on campus, and accessible from your own computer via VPN.

Bursaries, scholarships and other funding

We award scholarships and grants for travel, academic excellence, or to students from underrepresented
backgrounds.

You may be able to get a University of Southampton bursary to help with your living costs.

If you are a care leaver or estranged from your parents, you may be able to get a specific bursary.

You may be able to get a scholarship or grant that's linked to your chosen subject area.

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Financial Support
The Student Services Centre offers support and advice regarding student finances. You may be able to
access our Student Support fund and other sources of financial support during your course. You can find
more information about financial support via our webpages:
https://www.southampton.ac.uk/studentservices/money-matters/student-support-fund/index.page

Academic support
The Student Support Hub is your first point of contact when it comes to seeking support. The team will
answer your questions or concerns about your wellbeing, fees and funding, accommodation and
visas. The team will help make sure you receive the support you need, guiding you to further support
services where required. You can find more information about student support via our webpages:

https://www.southampton.ac.uk/studentservices/index.page

One of the most important people you will meet while you are a student at Southampton is your Personal
Academic Tutor, who will be allocated to you for your arrival at the University and who is normally a
member of academic staff in your own or a closely related subject area. Your Personal Academic Tutor will
offer one-to-one support and advice throughout your time at Southampton and will support you in your
studies or with other issues you may have. You can find out more via our webpages:

https://www.southampton.ac.uk/studentadmin/academic-support-guidance/personal-tutor.page

Disclaimer
As a research-led University, we undertake a continuous review of our courses to ensure quality
enhancement and to manage our resources. As a result, this course may be revised during a student's
period of registration; however, any revision will be balanced against the requirement that the student
should receive the educational service expected. Please read our Disclaimer to see why, when and how
changes may be made to a student's course.

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