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Our Programs
SS4861A/B is a required course for those majoring in the HSP Actuarial program. This is in line with program accreditation requirements for the Canadian Institute of Actuaries. Check back soon for the official PDF module update.
Our department offers undergraduate programs (modules) specializing in the following areas:
Program Modules
These modular summaries are guides only.
For complete information, see the current online Academic Calendar
Honors Specialization in Actuarial Science
Honors Specialization in Data Sciences
Honors Specialization in Financial Modelling
Honors Specialization in Statistical Science
Major in Actuarial Science
Major in Applied Statistics
Major in Data Sciences
Major in Financial Modelling
Minor in Applied Statistics NEW!
Minor in Data Science NEW!
Minor in Applied Financial Modelling NEW!
What is an Actuary?
The future is full of uncertainty. Some of the events that can happen are undesirable. "Risk" is the possibility that an undesirable event will occur. Actuaries are experts in:
- evaluating the likelihood of future events
- designing creative ways to reduce the likelihood of undesirable events
- decreasing the impact of undesirable events that do occur
The impact of undesirable events can be both emotional and financial. Reducing the likelihood of these events helps relieve emotional pain. But some events, such as death, cannot be totally avoided. So, reducing their financial impact is very important. Actuaries are the leading professionals in finding ways to manage risk. It takes a combination of strong analytical skills, business knowledge, and an understanding of human behaviour to design and manage programs that control risk.
Who do actuaries work for?
- Insurance Companies
- Investment Firms
- Trust Companies/Banks
- Governments
- Universities - Research/Teaching
What should I study in secondary school?
- Grade 12U Advanced Functions (MHF4U)
- Grade 12U Calculus and Vectors (MCV4U)
What should I take in my first year at university?
- Calculus 1000A/B and Calculus 1501A/B or Applied Math 1413, Statistics 1023A/B, and Linear Algebra 1600A/B should be included in your 5.0 first year courses. We also recommend that you take first year Economics.
Why choose Western?
- For the sixth year, UWO ranked number one for student satisfaction among large Canadian universities
- Internship program: you'll not only benefit from the paid hands-on work experience, but you will also be mentored by a professional in the field
- Dynamic undergraduate student association
- High faculty to student ratio
- Undergraduate opportunities for summer funded research
- State of the art computing facilities with the most current statistical software
- Drop-in Help Centre open Monday to Friday, 8:30 - 4:30, providing one-on-one assistance
- Vibrant community
What is Data Science?
Data science refers to the development and application of methodologies for inspecting, cleaning, managing, transforming, visualizing and modeling data with a view to discovering useful information, reaching conclusions and supporting decision making. Data Science is inherently interdisciplinary, with the two dominant disciplines being Computer Science and Statistical Science.
There is a big demand for Data Scientists and that demand is still growing as the rate of data collection is increasing in every discipline. Being able to efficiently generate, manage and analyze digital information, data scientists are widely sought after in numerous fields of scientific investigation.
Where do Data Scientists work?- Airline and Auto Industry
- Banks, Investment Firms and other Financial Institutions
- Insurance Companies
- Health Care and Medical Research Firms
- Marketing Firms
- Sports Agencies
- Tech Companies and numerous other industries
- Computer Science 1026A/B or Data Science 1200A/B
- Computer Science 1027 A/B
- Calculus 1000A/B or 1500 A/B
- Calculus 1501A/B or 1301 A/B(min 85%)
- Math 1600 A/B
Students graduating with a Data Science module will have solid data and analytical literacy and these skills are in very high demand in the work place. The following are just some of the opportunities available to you while completing a program at Western in Data Science:
- Internship program; you will not only benefit from the paid hands-on work experience, but you will also be mentored by a professional in the field
- undergraduate opportunities for summer funded research in either the Computer Science or Statistical and Actuarial Sciences Department
- Dynamic undergraduate students association and clubs in both departments
- Combined Ivey HBA degree option as well as concurrent degree option with engineering
- Data Science modules can be combined with other modules including Biology, Economics, Actuarial Science and Financial Modeling to name a few
What is Financial Modelling?
Over the past two decades, new quantitative techniques have transformed the investor decision-making process and the financial industry. Today, banks, insurance companies, securities, and investment firms turn to technical innovation to gain the competitive advantage. Sophisticated mathematical models are used to support investment decisions, to develop and price new securities, or to manage risk.
Financial institutions, in addition to energy companies, utilities, and corporations with exposure to exchange rate or commodities risk, are hiring quantitatively sophisticated employees.
Where do financial mathematicians work?
- Banks
- Analyst in Currencies and Commodities
- Investments
- Risk Management
- Securities
- Brokerage Firms
- Universities - Research/Teaching
- Pension Fund Management Companies
- Insurance Firm
What should I study in secondary school?
- Grade 12U Advanced Functions (MHF4U)
- Grade Calculus and Vectors (MCV4U)
What should I take in my first year at university?
- Calculus 1000A/B and Calculus 1501A/B or Applied Math 1413, Statistics 1023A/B, and Linear Algebra 1600A/B should be included in your 5.0 first year courses. We also recommend that you take Computer Science 1026A/B or Data Science 1200A/B in first year.
Why choose Western?
- For the sixth year, UWO ranked number one for student satisfaction among large Canadian universities
- Internship program: you’ll not only benefit from the paid hands-on work experience, but you will also be mentored by a professional in the field
- Dynamic undergraduate student association
- High faculty to student ratio
- Undergraduate opportunities for summer funded research
- State of the art computing facilities with the most current statistical software
- Drop-in Help Centre open Monday to Friday, 8:30 - 4:30 providing one-on-one assistance
- Vibrant community
What is a Statistician?
Statisticians collect data and analyze it, looking for patterns that explain behaviour or describe the world as it is. They design and build models using data. The models can be used to help understand the world and to make predictions.
It is proven that the celebration of birthdays is healthy. Statistics show that those people who celebrate the most birthdays become the oldest.
Where do statisticians work?
- Banks & Investment Firms
- Chemical & Pharmaceutical Manufacturers
- Colleges/Universities
- Computer Service & Software Firms
- Engineering Firms
- Environmental Agencies
- Government Offices and Labs
- Marketing Firms
- Medical Research Firms
- Psychological Research Firms
- Sports Agencies
What should I study in secondary school?
- Grade 12U Advanced Functions (MHF4U)
- Grade 12U Calculus and Vectors (MCV4U)
What should I take in my first year at university?
- Calculus 1000A/B and Calculus 1501A/B or Applied Math 1413, Statistics 1023A/B, and Linear Algebra 1600A/B should be included in your 5.0 first year courses. We also recommend that you take Data Science 1000A/B in first year.
Why choose Western?
- For the sixth year, UWO ranked number one for student satisfaction among large Canadian universities
- Internship program: you’ll not only benefit from the paid hands-on work experience, but you will also be mentored by a professional in the field
- Dynamic undergraduate student association
- High faculty to student ratio
- Undergraduate opportunities for summer funded research
- State of the art computing facilities with the most current statistical software
- Drop-in Help Centre open Monday to Friday, 8:30 - 4:30 providing one-on-one assistance
- Vibrant community
