Program Overview

If you have enjoyed studying mathematics at A level (or equivalent) and are interested in the applications of statistics to the social sciences, business and finance, then this could be the programme for you.

Actuarial science applies mathematical skills to the social sciences to solve important problems for insurance, government, commerce, industry and academic researchers.

The BSc Actuarial Science programme has a heavy mathematical and statistical component. It 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.


Many students arrange internships in actuarial and financial firms or placement companies with help from LSE Careers or the Department of Statistics. Recent graduates from the programme have gone on to work in the areas of insurance (life and general), as well as banking, finance and statistics.

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  Location

LondonUnited Kingdom

DurationIcon
  Course Duration

36 Months

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  Tuition Fee

£ 23,330

 Score

IELTS: 7 TOEFL: 100

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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.

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 statisticsbasis 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


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.

Below we list our entry requirements in terms of GCSEs, A-Levels (the entry requirements should be read alongside our A-level subject combinations information) and the International Baccalaureate (IB) Diploma. We accept a wide range of other qualifications from the UK and from overseas.
 

GCSEs
 

  • A strong set of GCSE grades including several at A (or 7) and A* (or 8-9)
  • GCSE English and Mathematics grades should also be no lower than B (or 6)
  • We also consider your overall GCSE subject profile

 

A-levels*

 

  • AAA, with an A in Mathematics
  • We also consider your AS grades, if available.


Contextual admissions A-level grades**
AAB with an A in Mathematics

 

IB Diploma
38 points overall, with 766 in higher level subjects, including Mathematics.

 

Contextual admissions IB grades**
37 points overall, with 666 in higher level subjects, including Mathematics.

Every undergraduate student is charged a fee for each year of their programme.


The fee covers registration and examination fees payable to the School, lectures, classes and individual supervision, lectures given at other colleges under intercollegiate arrangements and, under current arrangements, membership of the Students' Union. It does not cover living costs or travel or fieldwork.


Tuition fees


Home students:
The 2023 tuition fee for new Home students has not yet been set. As a guide the 2022 fee for Home students is £9,250 per year. The Home student undergraduate fee may rise in line with inflation in subsequent years.

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. 

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