2023-2024 College Catalog

Actuarial Mathematics, Bachelor of Science

Program Coordinator:

Min Chung (Mathematics)


Min Chung; Raymond Mess; Erik Wallace


Actuarial Mathematics




The Actuarial Math program at Hartwick College is designed to combine a broad education in Mathematics with Business Administration, Economics, and Finance. The study of actuarial mathematics as part of liberal arts and science enables students to not only learn the necessary background to manage institutional financial risk but to develop their ability to think logically, solve problems, express themselves precisely and gain a cultural appreciation of the discipline. Upon completion of the Actuarial Mathematics major, students will be prepared for two of the examinations of the Society of Actuaries.

Actuarial mathematics majors must complete a specified core of courses in Mathematics, Economics, Business Administration, and Finance. The requirements begin with a sequence of calculus and linear algebra in Mathematics, topics in microeconomics and macroeconomics in Economics, introduction to business in Business Administration and financial accounting in Accounting, generally during their first two years. These courses provide the foundation for upper level courses. To obtain a necessary background for actuarial science, majors take courses of mathematical probability and statistics sequence and differential equation/mathematical modeling in Mathematics, econometrics in Economics, finance in Business Administration, and financial modeling and investment analysis in Finance. A required Senior Capstone Seminar in Mathematics involves supervised independent study in actuarial science with written presentations and a final oral presentation.

Due to excessive overlaps in the requirements, students may not pursue dual majors in Mathematics and Actuarial Mathematics. Students who wish to pursue a 3-year degree program in the actuarial math major should consult the math department chair before the start of the first year.

Incoming students are administered an algebra placement test and, based on the results, are advised which mathematics courses would be most appropriate for their algebra backgrounds. Students who need a stronger background in algebra before they begin the calculus sequence may select pre-Calculus Mathematics (MATH 120). For students with exceptional mathematics backgrounds, advanced placement credit in calculus will be granted based on Advanced Placement Test scores. Advanced placement without credit also may be granted based on consultation with the department faculty.