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College of Engineering & Science - Louisiana Tech University

Mathematics & Statistics

Minor in Actuarial Science

What Is Actuarial Science

Actuaries manage and reduce risk, working in a range of fields, including positions in industrial and government jobs, that analyze the potential for undesirable events to occur and plan for those events. Actuaries are in high demand and, currently, earn a median income of $100,000.

As part of the Actuarial Science minor, students will take courses that will prepare them to complete the first two professional exams and will be prepared to begin their careers as actuaries upon graduation.

What Are the Course Requirements

The minor in Actuarial Science requires 18 credit hours to complete.

Actuarial Science Minor


Course Name

# Hours

Corresponding Actuary Test

Mathematics and Industrial Engineering Pre-Requisite

MATH 240

Mathematics for Engineering and Science



MATH 241

Calculus I



MATH 242

Calculus II



MATH 243

Calculus III



MATH 244

Calculus IV



INEN 300

Engineering Economics


Exam 3F/MFE---Models for Financial Economics


STAT 405

Statistical Methods


Exam 1/P---Probability

MATH 490 (STAT 506)

Regression Analysis


Exam LC---Models for Life Contingencies

MATH 490 (STAT 520)

Theory of Probability


Exam 1/P---Probability

MATH 490 (STAT 521)

Theory of Statistics


Exam ST---Models for Stochastic Processes and Statistics

Business-Oriented Classes

INEN 301

Industrial Cost Analysis


Exam 3F/MFE---Models for Financial Economics

MATH 315

Financial Mathematics


Exam 2/FM---Financial Mathematics

Total # of Hours Required (beyond pre-requisite courses):  18

NOTE: For Mathematics majors who wish to minor in Actual Science, MATH 315, STAT 405, and nine hours of MATH 490 used for the Actuarial Science minor can not be counted towards their major requirements; a 300-level or above mathematics course needs to be used in place of INEN 301 to fulfill the major requirement.

Who Do I Contact for More Information

For more information, please contact Dr. Dave Meng at dmeng@latech.edu.