This programme is aimed at students who wish to gain a deep understanding of the concepts of actuarial science, and a mastery of the associated skills and technologies. Our students will become autonomous inquisitive learners capable of formulating and creatively solving relevant problems in actuarial science. Our graduates will continue to be in demand by employers and academic research institutes for their ability to use the tools they have learned to explain, monitor and manage risks and financial schemes with embedded risks. We aim to provide a teaching and learning environment that develops confidence and independence through a wide variety of interactive formats, both inside and outside the classroom including lectures, tutorials, blackboard and computer assisted labs.

1 - Demonstrate an in-depth understanding of actuarial science
2 - Approach problems in an analytical, precise and rigorous way
3 - Build, calibrate, test, and implement models using data relating to future cash flows to estimate their amount and timing
4 - Handle data and assumptions underlying models in a critical manner
5 - Use economic analyses to form judgements on such matters as future inflation and interest rates.
6 - Measure, monitor and manage risks embedded in financial products or schemes
7 - Monitor, and manage the variation in, the progress of the accumulation of a fund and the build up of assets to meet future liabilities and advise on suitable investment strategies
8 - Communicate the results of their work in an effective way.
9 - Operate within an environment that requires professionalism, scrutiny and transparency
10 - Work with other professionals to solve problems
11 - Apply the highest standards of independence and due diligence to protect the public interest
12 - Critically appraise topical applications of actuarial research and practice using case studies

Students who return failing grades in a trimester amounting to 15 credits, or more, will be identified under the UCD Continuation – Academic Progress policy. Students whose rate of progression and performance over two academic years is deemed unacceptable will be referred to the Governing Board to be reviewed for exclusion from the programme.

Students who fail to progress from the stage of the programme they are registered to for more than two academic years (except where a period of Leave of Absence has been granted for one of those years) will also be contacted under the Continuation – Academic Progress Policy.

As Stages 3 and 4 have the most dynamic components of the programme, and the material studied previously may no longer be relevant, a student who has been away from the programme for a significant period should be required to register again to Stage 3. The upper limit for completion of Stages 3 and 4 should be six years if they choose to do 120 credits with 20 in each year.

Actuaries are typically employed in the financial services sector where their role is to understand the nature of risk and find ways to manage it. The BAFS (Hons) degree will prepare you for a professional career in the actuarial or financial professions, but it has also been designed to be broader and more diverse than most traditional programmes in actuarial science. It takes a combination of strong analytical skills, business knowledge and understanding of human behaviour to design and manage programmes that control risk and guarantee sufficient funds for the insurance and pension sectors. For example, the actuary works out the risk (i.e. the likelihood of an incident such as a fire happening) and calculates how much the customer should pay for insurance cover in order to ensure the insurance company has sufficient funds to pay out if the incident occurs. The actuary calculates the premium based on the pattern and trends in the entire marketplace. To that end, your degree will focus on statistics, mathematics, economics finance, investment and related actuarial science and business subjects.

STAGE 1
You will study modules in Mathematics, Statistics, Economics and Computer Programming.

STAGES 2-4
Later you will concentrate on more advanced areas of Actuarial Science, Economics, Statistics and Finance. An essential element of the programme is a six-month supervised professional work experience undertaken in Stage 3. You are placed in insurance and financial institutions in which you gain valuable insight into possible careers as actuaries or financial analysts. Most students undergo their work experience in Ireland, the UK or the USA.

You may apply to study abroad for either a semester or a year through the Erasmus programme or on a non-EU exchange. UCD has over 200 Erasmus partners in Europe and an increasing number of non-EU exchange agreements with universities in the USA, Canada, Australia, Japan and elsewhere. Please visit the Erasmus section in International Office link at the top of this page.

Most graduates take positions as actuarial trainees in the following:

• Life insurance

• Pensions

• Health insurance

• General insurance

• Investment

The Actuarial & Financial Studies degree at UCD offers potential exemptions from the core subjects CS1, CS2, CM1, CM2, CB1, CB2 and CP1 of the professional examinations of the Institute and Faculty of Actuaries, UK. Some graduates also work in banking or finance as business or financial analysts. As an Actuarial & Financial Studies graduate, you are also eligible to pursue graduate study in statistics, computer science, economics, mathematics, management science,  finance and other specialist business subjects.

Colm Fitzgerald
School of Mathematics & Statistics
O'Brien Centre for Science
Email: colm.fitzgerald@ucd.ie
Web: https://www.myucd.ie/courses/science/actuarial-financial-studies/

Students take all 11 core modules and a further elective module in Spring trimester for a total of 60 credits

Students take 9 core modules and 1 option module as well as 2 elective modules.

Students take six core modules in Trimester 1 and 30 credit Work Experience core module in Trimester 2.

Students should take eleven core modules (for 55 credits). Students must also select 5 credits of electives.

Module ID	Module Title	Trimester	Credits
Stage 1 Core Modules
COMP10010	Introduction to Programming I	Autumn	5
FIN20040	Foundations of Finance	Autumn	5
MATH10040	Numbers & Functions	Autumn	5
MATH10120	Linear Algebra with Applications to Economics	Autumn	5
MATH10130	Introduction to Analysis for Economics and Finance	Autumn	5
STAT10420	Intro Actuarial & Fin Studies	Autumn	5
ACC10040	Financial Accounting 1	Spring	5
ACM10100	Differential & Difference Equations: Applications to Econ & Fin	Spring	5
MATH10140	Advanced Calculus for Economics and Finance	Spring	5
STAT10060	Statistical Modelling	Spring	5
STAT10410	Fund Actuarial Business Theory	Spring	5
Stage 1 Core Modules
Stage 2 Core Modules
FIN30170	Corporate Financial Management	Autumn	5
MATH20130	Fundamentals of Actuarial and Financial Mathematics I	Autumn	5
STAT20110	Introduction to Probability	Autumn	5
STAT20190	Professional ethics	Autumn	5
STAT20230	Modern Regression Analysis	Autumn	5
ECON20130	Economic History: From the Middle Ages to the Second World War	Spring	5
MATH20210	Fundamentals of Actuarial and Financial Mathematics II	Spring	5
STAT20100	Inferential Statistics	Spring	5
STAT20180	Bayesian Analysis	Spring	5
Stage 2 Core Modules
Stage 2 Options - MIN1OF Select at least 1 of
ECON30290	Advanced Microeconomics	Autumn	5
ECON30190	Public Economics: Government Spending, Taxation and Public Choice	Spring	5
MATH10320	Mathematical Analysis	Spring	5
MATH20260	The Mathematics of Google	Spring	5
MATH20270	Theory of Games	Spring	5
MST30070	Geometry	Spring	5
Stage 2 Options - MIN1OF Select at least 1 of
Stage 3 Core Modules
MIS30080	Information Management for Actuaries	Autumn	5
STAT30010	Time Series	Autumn	5
STAT30080	Models - Survival Models	Autumn	5
STAT30090	Models - Stochastic Models	Autumn	5
STAT30290	Workplace Skills for BAFS	Autumn	5
STAT30320	Investment and Trading	Autumn	5
STAT30150	BAFS Professional Work Placement	Spring	30
Stage 3 Core Modules
Stage 4 Core Modules
FIN30030	International Financial Management	Autumn	5
STAT40020	Actuarial Statistics I	Autumn	5
STAT40060	Actuarial Mathematics 1	Autumn	5
STAT40920	Financial & Actuarial Maths I	Autumn	5
STAT41000	Core Actuarial Principles 1	Autumn	5
STAT30270	Statistical Machine Learning	Spring	5
STAT40070	Actuarial Statistics II	Spring	5
STAT40100	Actuarial Mathematics 2	Spring	5
STAT40930	Financial & Actuarial Maths II	Spring	5
STAT40980	Core Actuarial Principles 3	Spring	5
STAT40990	Core Actuarial Principles 2	Spring	5
Stage 4 Core Modules

		Award		GPA
Programme	Module Weightings	Rule Description	Description
BHSCI008	Stage 4 - 50.00% Stage 3 - 50.00%	Standard Honours Award	First Class Honours	3.68	4.20
			Second Class Honours, Grade 1	3.08	3.67
			Second Class Honours, Grade 2	2.48	3.07
			Pass	2.00	2.47