We are currently reviewing our curriculum as part of a university-wide process. As a result, we are unable to publish full module information for this course at this time. The information below provides an overview of what you’ll study and our approach to teaching and assessment. The list shown below represents typical module/components studied in year 1 and may change from time to time. Years 2 and 3 will be available soon. Read more in our terms and conditions.
This content was last updated on 14 December 2023.
This course will give you in-depth knowledge of the mathematical and statistical tools used by actuarial professionals. These include financial account and reporting, stochastic processes, microeconomics, statistics of insurance and risk theory.
You’ll gain an appreciation of the interdisciplinary nature of actuarial science and develop a high level of analytical and problem-solving skills in statistical analysis, numerical techniques and computer applications.
Each academic year, you'll take a total of 120 credits.
In the first year, you’ll study key topics in mathematics, finance, economics and accounting. You’ll gain a solid foundation in actuarial mathematics, on which you’ll build more specialist knowledge in subsequent years. In particular topics in mathematics will include calculus, linear algebra, modelling, statistics and probability.
Core Mathematics – 40 credits
This module introduces you to the fundamental topics in mathematics. You’ll learn the foundational concepts of function, number and proof, equipping you with the language and skills to tackle your mathematical studies. The module also consolidates basic calculus, extending it to more advanced techniques, such as functions of several variables. These techniques lead to methods for solving ordinary differential equations. Linear algebra provides a basis for wide areas of mathematics and this module provides the essential foundation.
Probability and Statistics – 20 credits
'Probability is basically common sense reduced to calculation; it makes us appreciate with exactitude what reasonable minds feel by a sort of instinct.' So said Laplace. In the modern scientific and technological world, it is even more important to understand probabilistic and statistical arguments. This module will introduce you to key ideas in both areas, with probability forming the theoretical basis for statistical tests and inference.
Computational Mathematics and Modelling – 20 credits
You'll be introduced to computational techniques, algorithms and numerical solutions, as well as the mathematics of discrete systems. You'll learn basic programming using the language Python and apply computational techniques to the solution of mathematical problems.
Introductory Financial Accounting – 10 credits
You’ll cover the basic concepts of financial accounting and interpretation of financial statements in a business context. You’ll also gain an insight into how financial information is used and reported in business, learning how to recognise and explain how financial transactions are recorded in the context of the current technical standards, language and practices of accounting.
Introductory Management Accounting – 10 credits
This module gives you a broad introduction to management accounting as a discipline and the commercial use of management accounting information. You’ll learn the fundamental concepts and techniques of management accounting and the role it plays in planning, decision making and control within organisations. You’ll also gain an understanding of how to apply these techniques to making a variety of business decisions and performance evaluation.
Economic Theory and Applications for Finance – 20 credits
You’ll assess the concepts of microeconomics and macroeconomics and explore the application of these theories to issues and problems of consumption, production, exchange as well as output, employment, inflation and investment and finance.
In the second year, you’ll study core modules in financial mathematics, statistical methods, business finance and further economics. At this stage, you’ll be also able to choose some optional modules. Typical topics covered at this level include financial risk, statistical modelling, macro and microeconomics and financial accounting.
In the final year of the course, you’ll have specialist modules in actuarial mathematics, financial modelling and advanced statistics.
Topics taught may include survival analysis, life insurance, interest rate modelling and advanced statistics applicable to actuarial science such as generalised linear models.
You’ll also undertake a substantial project, which gives you the opportunity to investigate a topic at the cutting edge of mathematics in some depth. You’ll work collaboratively with your supervisors throughout the project, who’ll be experts in your particular research area.
One-year optional work placement or study abroad
During your course, you’ll be given the opportunity to advance your skill set and experience further. You can apply to either undertake a one-year work placement or study abroad for a year, choosing from a selection of universities we’re in partnership with worldwide.
By the end of your degree, you’ll have a high level of understanding of the technical background required for practice as an actuary or related areas. You’ll have developed the following skills which are valued by a wide variety of employers:
- The ability to solve complex problems.
- Using logical thinking in theoretical and practical contexts.
- An appreciation of economics and accountancy principles most relevant to actuarial practice.
- The ability to use statistical models and use data to estimate parameters for these models.
- The ability to carry out project work independently and effectively report the outcomes of your work in a variety of ways.
- Familiarity with commonly-used software in actuarial applications.
Learning and teaching
You’ll be taught through lectures, tutorials, workshops and practical classes. You’ll enjoy extensive tutorial support and have freedom in your workload and options.
We offer a variety of welcoming spaces to study and socialise with your fellow students. There are social and group study areas, a library with a café and a seminar room, as well as a Research Visitors Centre and a Mathematics Active Learning Lab.
Watch our taster lectures to get a flavour of what it’s like to study at Leeds:
On this course you’ll be taught by our expert academics, from lecturers through to professors. You may also be taught by industry professionals with years of experience, as well as trained postgraduate researchers, connecting you to some of the brightest minds on campus.
You’re assessed through a range of methods, including formal exams and in-course assessment.