Michigan State University is an extremely large public university as far as student population and campus size are concerned. It was founded in 1855 and sprawls over a 5,200 acre campus. Michigan State University is ranked by U.S. News as 84th among public universities across the country. Kiplinger’s Personal Finance has also ranked Michigan State University as 86th for students in-state on its ranking of the Best Values in Public Colleges.

More than 49,000 students currently attend Michigan State University. For a Michigan resident, tuition was $14,524 for the 2020 – 2021 academic year. For a non-resident, tuition was $39,830 for the 2020 – 2121 academic year.

UNDERGRADUATE PROGRAMS

The Department of Mathematics at Michigan State University offers a B.S. in Actuarial Science. In addition, a specialization in actuarial science is available as an elective to any student who is enrolled in a bachelor’s degree program at Michigan State University. No graduate or doctoral degree programs are offered by the department.

Undergraduate Major in Actuarial Science

This degree program requires a minimum of 120 credit hours. Core required courses include all of the following: linear algebra I; theory of mathematical interest; financial mathematics for actuaries; probability and statistics I: probability; actuarial models I and II; construction and evaluation of actuarial models; survey of accounting concepts; introduction to macroeconomics; introduction to microeconomics; financial management; theory of investments; and financial derivatives.

Specialization in Actuarial Science

This specialization prepares students for two of the exams of the Society of Actuaries: Exam FM/2 and Exam P/1. All of the following courses are required to complete the specialization:

• Financial Management
• Theory of Investments
• Advanced Derivatives
• Theory of Mathematical Interest
• Probability and statistics I
• Probability and Actuarial Models

In addition, one of these two courses must be taken: introduction to financial mathematics or probability and statistics II: statistics.

THE FACULTY

Keith Promislow is the chairperson of the Department of Mathematics at Michigan State University. The faculty members of the department offer a wide variety of courses including multiple Honors sequences.

ADMISSIONS

Prospective students of Michigan State University need to submit an online application along with a $65 application fee. No letters of recommendation are required, but a personal statement is mandatory. Official test scores and transcripts must also be submitted.

SUMMARY

Michigan State University often receives high rankings based on both its affordability and quality. Although the university is already situated on a large campus, it has future plans of expansion. The Department of Mathematics at Michigan State University offers an undergraduate degree in actuarial science as well as a specialization in actuarial science available to any student pursuing a bachelor’s degree. Both the undergraduate degree and the specialization help students to prepare for the professional actuarial examinations.