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Otterbein University’s MBA Program offers a concentration in Actuarial Science. By successfully completing this series of courses as part of your MBA elective curriculum you will earn the Actuarial Science concentration designation on your MBA diploma. This specially designed series of courses is for professionals who have a strong quantitative background. This concentration will sharpen your skills, allow you to advance your career, assist you in making a career change, or have a new learning experience.
Actuarial Science Concentration Requirements
(Choose 3 courses, 4 credit hours each, plus required Practicum – 3 credit hours)
ASCI 5000 – Financial Mathematics II (4 credit hours)
An introduction to financial economics that includes major topics such as derivatives markets, valuation of derivative securities, and applications in financial risk management. Prerequisite: ASCI 3800.
ASCI 5100 – Actuarial Models I (4 credit hours)
This course is an introduction to the theoretical basis of actuarial models, and application of those models to insurance and other financial risk. Major topics include survival models, life tables, life insurance models, life annuity models, and benefit premiums. Prerequisites: ASCI 3800 and MATH 3300.
ASCI 5200 – Actuarial Models II (4 credit hours)
Continuation of Actuarial Models I. Major topics include benefit reserves, multiple-life models, multiple-decrement models, and application of Markov chains and Poisson processes to insurance and other financial risk. Prerequisite: ASCI 5100.
ASCI 5300 – Loss Models (4 credit hours)
An introduction to survival, severity, frequency and aggregate models, and the use of statistical methods to estimate parameters of such models given sample data. Prerequisite: MATH 3350.
ASCI 5500 – Special Topics in Actuarial Science (4 credit hours)
A specially designed for actuarial majors who wish to learn about special topics in actuarial science. Course content may vary from term to term. Prerequisite: Permission of the instructor.
ASCI 5900 – Practicum in Actuarial Science (3 credit hours) - Required
The practicum course allows students to apply their knowledge of the actuarial science and MBA curricula through hands-on experience. Throughout the program, practicing actuaries will be invited to present topics in their fields of expertise (life, health, property, risk management, or financial investment, etc.). For this capstone practicum experience, students will choose, in consultation with a practicing actuary and the course instructor, a specific actuarial science topic to study, about which they will complete a significant semester-length project. Typically working in teams, students will prepare and submit a written report of the project (may include objective, data collection, data analysis, actuarial modeling, and conclusion), as well as present the report orally in class. Prerequisites: Two courses from ASCI 5000, 5100, 5200, 5300, 5500.
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