Actuarial Science

The degree involves studying courses to the value of 12 units over three years, plus LSE100. 

The BSc Actuarial Science, BSc Mathematics, Statistics, and Business and BSc Financial Mathematics and Statistics programmes have similar first year courses, and you may be able to move between these degrees in your second year, if you would like to.

The BSc Actuarial Science with a Placement Year runs for four years with a placement year in Year 3. The programme structure of the other years remains the same.

First year

In your first year, you will take two compulsory courses in mathematics and statistics. You will also take microeconomics and macroeconomics. In addition, you will also take LSE100.

(* denotes a half unit course)

Elementary Statistical Theory
This is a theoretical statistics course which is appropriate whether or not your A level Mathematics course included statistics. It forms the basis for later statistics options.

Mathematical Methods
This is an introductory-level "how to do it" course designed to prepare you for using mathematics seriously in the social sciences, or any other context.

Microeconomics I*
This course provides a foundation to help students understand key microeconomic questions using a variety of approaches including quantitative methods

Macroeconomics I*
This course provides a foundation to help students understand key macroeconomic questions using a variety of approaches including quantitative methods.

Courses to the value of one unit from the following:

Introduction to Abstract Mathematics  
Introduces you to rigorous mathematical thinking and is strongly recommended for first-year students.

Elements of Financial Accounting*

Elements of Management Accounting, Financial Management and Financial Institutions*

Mathematical Proof and Analysis*

Programming for Data Science*

LSE100*
A half unit, running across Michaelmas and Lent Term in the first year, LSE100 is compulsory for all LSE undergraduate students, and is designed to build your capacity to tackle multidimensional problems through research-rich education.

Second year

In your second year you will take two compulsory full-unit courses, two compulsory half-unit courses. You will also choose an outside option from a wide range of courses, or alternatively you can do an applied statistics project. 

Probability, Distribution Theory and Inference
Develops your knowledge of probability and statistics beyond the first-year course. It will also provide the probability and statistics basis for all third-year courses.

Further Mathematical Methods
Covers the mathematics needed for statistics and actuarial courses.

Actuarial Investigations: Financial*
This is a course on compound interest techniques from an actuarial viewpoint.

Survival Models*
An introduction to actuarial mathematics and statistics.

Courses to the value of one unit in accounting, economic history, finance, mathematics, psychological and behavioural science or an outside option approved by the Department.

Third year

In your third year you will take three compulsory courses, and will choose options to the value of two units from an approved list. Previous options have included Regression and Generalised Linear Models, Bayesian Inference, and Stochastic Simulation.

Stochastic Processes*
Explores stochastic processes and applications to insurance.

Actuarial Mathematics: Life* 
An introduction to the theory and techniques of life insurance and pensions.

Stochastic and Actuarial Methods in Finance (or option)
Offers applications of stochastic processes and actuarial models in finance.

Options to the value of two units from an approved list

For the most up-to-date list of optional courses please visit the relevant School Calendar page. 

Where regulations permit, you may also be able to take a language, literature or linguistics option as part of your degree. Information can be found on the Language Centre webpages.

You must note however that while care has been taken to ensure that this information is up-to-date and correct, a change of circumstances since publication may cause the School to change, suspend or withdraw a course or programme of study, or change the fees that apply to it. The School will always notify the affected parties as early as practicably possible and propose any viable and relevant alternative options. Note that the School will neither be liable for information that after publication becomes inaccurate or irrelevant, nor for changing, suspending or withdrawing a course or programme of study due to events outside of its control, which includes but is not limited to a lack of demand for a course or programme of study, industrial action, fire, flood or other environmental or physical damage to premises.

You must also note that places are limited on some courses and/or subject to specific entry requirements. The School cannot therefore guarantee you a place. Please note that changes to programmes and courses can sometimes occur after you have accepted your offer of a place. These changes are normally made in light of developments in the discipline or path-breaking research, or on the basis of student feedback. Changes can take the form of altered course content, teaching formats or assessment modes. Any such changes are intended to enhance the student learning experience. You should visit the School’s Calendar, or contact the relevant academic department, for information on the availability and/or content of courses and programmes of study. Certain substantive changes will be listed on the updated undergraduate course and programme information page.

Quick Careers Facts for the Department of Statistics

Median salary of our UG students six months after graduating: £37,000

Top 5 sectors our students work in:

• Financial and Professional Services
• Accounting and Auditing
• Consultancy
• Government, Public Sector and Policy
• Insurance

The data was collected as part of the Graduate Outcomes survey, which is administered by the Higher Education Statistics Agency (HESA). Graduates from 2018-19 were the second group to be asked to respond to Graduate Outcomes. Median salaries are calculated for respondents who are paid in UK pounds sterling and who were working in full-time employment.

Graduates from the programme will be able to work on a range of financial services organisations from companies which operate in the life and general insurance sector through to accounting firms, specialist actuarial consultancies, investment banks , data analytics, statistics, civil service and graduate studies.

This programme is accredited by the Institute of Actuaries and courses taken as part of the degree can lead to exemptions. It is also accredited by The Royal Statistical Society, providing graduates with the status of Graduate Statistician, a grade of professional membership of the society. 

More on Undergraduate Programme Accreditation and Exemptions.
Further information on graduate destinations for this programme

Support for your career

Many leading organisations give careers presentations at the School during the year, and LSE Careers has a wide range of resources available to assist students in their job search.