| Code | CK407 |
|---|---|
| Duration | 4 Years |
| Teaching Mode | Full-time |
| Qualifications | BSc (Hons) |
| NFQ Level | Level 8 |
Course Outline
This degree course provides a solid education in the fundamentals of financial mathematics and actuarial science, as well as a strong grounding in the core disciplines of the Mathematical Sciences. The quantitative analytical skills developed in this course are used in a variety of settings, both commercial and non-commercial. Refer to Mathematical Sciences (CK407) for more details.
Modules
Year 1
- AM1052 Introduction to Mechanics (5 credits)
- AM1053 Introduction to Mathematical Modelling (5 credits)
- AM1054 Mathematical Software (5 credits)
- MA1057 Introduction to Abstract Algebra (5 credits)
- MA1058 Introduction to Linear Algebra (5 credits)
- MA1059 Calculus (5 credits)
- MA1060 Introduction to Analysis (5 credits)
- ST1051 Introduction to Probability and Statistics (5 credits)
Elective Modules (choose 20 credits)
- AC1107 Investment in Capital Assets (5 credits)
- AC1108 Introduction to Valuation and Risk (5 credits)
- CM1006 Introduction to Chemistry for Physicists and Mathematicians (10 credits)
- CS1061 Programming in C (5 credits)
- CS1065 Computer Applications with Visual Basic (5 credits)
- CS1069 Introduction to Internet Technologies (5 credits)
- PA1003 Principles of Market Analysis (10 credits)
- PY1052 Introductory Physics I (10 credits)
- PY1053 Introductory Physics II (10 credits)
- ST1050 Statistical Programming in R (5 credits)
Refer to Mathematical Sciences (CK407) for more details on your module options.
Years 2, 3 and 4
See the Academic Programme Catalogue (BSc Financial Mathematics and Actuarial Science) for the complete and up-to-date content including current core and elective module options for Years 2, 3 and 4. Note that the modules for all courses are subject to change from year to year.
Further optional courses offered by the Department of Accounting and Finance may also be taken. In Years 3 and 4, there are opportunities for concentration on either the more applied or the theoretical aspects.
Academic Programme Catalogue
See the Academic Programme Catalogue for the complete and up-to-date content for all courses. Note that the modules for all courses are subject to change from year to year. For complete descriptions of individual modules, see the Book of Modules.
Course Practicalities
Typically there are 18 contact hours per week for a total of 24 weeks of instruction. The contact hours include about 12 lectures and six tutorials/practicals. Each contact hour gives rise to at least two hours of study, including homework.
Written exams take place before Christmas and in May. Not all modules will have formal examinations and many modules use other types of assessment. See the Book of Modules for assessment information for each module.
The course provides full coverage of the core technical syllabus of the Institute and Faculty of Actuaries and has a set of associated Exemption Recognition Agreements in place, which enable graduates of this degree to pursue careers in the actuarial profession.
Why Choose This Course
Graduates of this course will have a broad range of quantitative numerical and computational skills that are of use in many fields. Graduates who wish to pursue an actuarial career may qualify for exemptions from some of the professional actuarial examinations, depending on performance and choice of electives, and will have the necessary preparation to undertake the remaining examinations.
A number of degree courses in the UK and Ireland correspond to some or all of the core principle exams of the Institute and Faculty of Actuaries - the first stage of the professional education of an actuary.
The Institute and Faculty of Actuaries (IFoA) has approved programme-level exemption status for the Financial Mathematics and Actuarial science programme at UCC in respect of their first 6 Core Principles in the new 2019 IFoA curriculum (equivalent to 8 Core Technical subjects in the pre-2019 curriculum). Students may be recommended for all of these exemptions by performing sufficiently well in the corresponding examinations of the UCC programme. The IFoA exemptions covered are CM1, CM2, CB1, CB2, CS1 & CS2. UCC is one of the very few universities in Ireland which can offer students the potential to receive this level of exemption from the professional actuarial examinations.
Institute and Faculty of Actuaries (IFoA)
In order to become a qualified actuary, it is necessary to satisfy the professional education and work experience requirements of the Institute and Faculty of Actuaries (IFoA).
A number of degree courses in the UK and Ireland correspond to some or all of the eight core technical subjects in the first stage of the professional education of an actuary. This degree provides a thorough education in the mathematical sciences, as well as the preparation for a career with a financial focus.
In addition to opportunities in the financial and insurance areas, and in the mathematical sciences, our graduates will have acquired analytical, computing, communication, and problem-solving skills that will open the way for a wide range of careers.
Skills and Careers Information
Graduates in Financial Mathematics and Actuarial Science can look forward to careers offering intellectual challenge, professional status, job satisfaction and high earnings.
Designing solutions to mathematical problems involving financial risk or future uncertainty places the graduate among the most highly valued professionals in the financial world.
The recent past has seen enormous growth in the financial services industry worldwide. This, together with the increasing sophistication of modern financial products, has led to increasing demand for graduates in Financial Mathematics and Actuarial Science.
"As an Actuarial Recruitment agency for actuaries in Ireland, Acumen Resources have been proudly providing advice to students on the BSc Financial Mathematics & Actuarial Science course. A key advantage of this course is that it is a broader course than just Actuarial Science. It has a large computer practical component and the feedback from delighted employers has been that their students are very technical and have excellent computer skills. The course also offers a consultancy based module where students work on real data sets and problems, they carry out statistical analysis on these data sets and then present their findings to the real-world client. A valuable experience which adds tremendous value to any CV." - Paul Walsh FIA (CEO of Acumen Resources)
Requirements
Refer to Mathematical Sciences (CK407).
Non-EU Applicants
Non-EU applicants are expected to have educational qualifications of a standard equivalent to the Irish Leaving Certificate. In addition, where such applicants are non-native speakers of the English language they must satisfy the university of their competency in the English language.
To verify if you meet the minimum academic and language requirements visit our qualification comparison page and refer to our International Office page for more information.
Fees and Costs
- Whether you are an EU or Non-EU student will affect the course fees applicable to you. See more information on EU Fees, Non-EU Fees, or Free Fees Status.
- The State will pay the tuition fees for EU students who are eligible under the Free Fees Scheme. The annual student contribution and capitation fees are payable by the student.
- See the Fee Schedule to find out the course fee.
- Check out scholarships that may be available to you.
- Explore our Nurturing Bright Futures free online course (Module 5) to learn about managing your money as a student and budgeting for university life.
How To Apply
Refer to Mathematical Sciences (CK407).
Irish and European (EU/EFTA/UK) Applicants
Apply via the CAO. See the CAO Handbook for useful information on applying through the CAO.
Mature Applicants
Apply via the CAO by 1 February. To apply for a place as a mature student, you must be 23 years of age on or before 1 January of the year of entry.
QQI/FET Applicants
Apply via the CAO. See our QQI/FET Applicants page for information on the Quality and Qualifications Ireland (QQI) Further Education and Training (FET) application process.
Non-EU Applicants
If you are from outside the EU/EFTA/UK, apply online via the UCC Apply portal. See our International Office page for more information.