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Mathematics, Actuarial

Science and Statistics


University of Southampton
Dr Sujit Sahu
School of Mathematics

School of Mathematics
Large student centred school
Expertise across mathematical
physics, applied mathematics,
operational research, pure
mathematics and statistics
Active links with business,
industry, science and technology
A centre for interdisciplinary
research and teaching
Large graduate school with three
thriving MSc programmes and
many research students
2

Mathematics students
550 MMath & BSc students
85 MSc students
48 PhD students

Teaching & Assessment


Lectures
Tutorials
Supervisions
Computing Labs
Consolidation Class
Private study

Exams
Coursework
Projects
Presentations
In-class tests

Course structure

Topology

Hyperbolic Geometry
Simulation and Queues

Mathematical Programming
Design and Analysis of Experiments

Algebra
Number Theory and Cryptography
Analysis
Relativity, Black Holes and Cosmology
Calculus
Differential Equations
Gravitational Waves
Geometry
Mathematical Modelling
Metric Spaces
Probability and Statistics

Applications of Mathematics in Biology

Mathematical Finance

Rings and Fields

Optimization

Differential Geometry and its Applications

Complex Function Theory

Groups and Symmetry

Programmes of Study
Single Honours:

Mathematics for Arts:

BSc: Mathematics

Mathematics with Music

MMath: Mathematics

Mathematics and French, German, Spanish

BSc: Mathematical Studies

Mathematics for Business:


Mathematics with:

Mathematics for Science:

Actuarial Science, Economics, Finance Mathematics with:


Management Sciences, Statistics,

Astronomy, Biology

Operational Research, Computer Science Physics, Computer Science


6

Some money making ideas with Mathematics


Google search

Linear Algebra

Pricing financial options

Differential Equations

iPod and MP3

Analysis

Green logistics
Formula 1 pit stop strategies
Financial Portfolios
Encryption of credit cards
Airline pricing

Operational Research
Optimization
Statistics
Number Theory
Linear Programming

Mathematics with Actuarial Science


Our most popular programme!
Lets learn a bit more about it!

Actuarial Science
Why choose Mathematics with Actuarial Science?
Actuarial Studies focus on the study of Mathematics and
Statistics integrated with:

Economics,

Finance,

Demography and

Actuarial Science

For most people the excellent career prospects are the


main reason for choosing Mathematics + Actuarial Science

EXAMPLES OF ACTUARIAL SCIENCE


QUESTIONS
Mr Patel is 65 and had a heart attack 3 years ago how much should
his travel insurance to the USA for 2 weeks cost?
How many children in India will require elementary schooling in 2015?
Could health insurance for my pet cat be included free as part of my
house insurance?
How much will it cost if it rains at the Olympics in 2012?
How much funding should the Indian Government put aside for
building new roads for the next 10 years?

TEST YOURSELVES..
Should health insurance be cheaper or more expensive for smokers?
MUCH CHEAPER
How old do you have to be to have a 50% chance of dying in the next 6
months?
103
If you are 80 what chance do you have of living until 81?
97%

How much do Actuaries earn?


Lots!
Typical Actuarial salaries start at about 60,000 (Rs 48 Lakh)
Many Actuaries earn well over 150,000 (Rs 1.2 Crore!)
The profession is very carefully regulated
It also has a high professional profile
And high professional standards
-Actuaries are needed worldwide

Does India need more Actuaries?


There are about 6000 professional actuaries for 6 crore
UK citizens.
There are about 100 crore Indians. How many actuaries
are needed?
See an article in rediff.com: For a 7-figure salary, be
an actuary
Many banks such as HSBC will pay very highly to
Southampton graduates.
Southampton is a brand name!

Top ten subjects studied by new entrants to the


Actuarial profession in 2004-7
Mathematics

350

Actuarial Science

198

Mathematics and other

89

Mathematics and Statistics

53

Economics

43

Statistics

29

Physics

31

Actuarial Maths and Statistics

30

Actuarial Science and Statistics 26


Mathematical Science

23

How does the system of exemptions work?


One of the major attractions of a Mathematics with Actuarial
Science programme is the exemptions
The professional examinations to become a fully-qualified
Actuary are long and difficult
If a degree programme grants exemptions from some of
these then it may be possible to qualify as an Actuary much
quicker than normal
A Southampton Maths with Actuarial Science graduate can
earn the maximum number of exemptions!

Exemptions from Actuarial Professional


Examinations
The new examination structure consists of:
8 exams at Core Technical stage (CT1 to CT8)
3 exams at Core Applications stage (CA1 to CA3)
2 exams at Specialist Technical stage (2 from ST1 to ST6)
1 exam at Specialist Application stage (1 from SA1 to SA6)

A total of 14 examinations must therefore be passed to qualify


as an Actuary.
Exemption from some of the Specialist exams by undertaking a
course of study or a research dissertation as an alternative is
now possible.

Actuarial Professional Examinations:


CT stage
CT1 Financial Mathematics

CT2 Finance and Financial Reporting


CT3 Probability and Mathematical Statistics
CT4 Models
CT5 Contingencies
CT6 Statistical Methods
CT7 Economics
CT8 Financial Economics

Agreement with the IoA


It has been agreed with the Institute of Actuaries that
students achieving a suitable performance in certain units
will get an exemption from the corresponding subject in
the professional examinations.
A maximum of 8 exemptions out of the 8 CT stage units is possible
THE SOUTHAMPTON PROGRAMME OFFERS ALL 8
EXEMPTIONS
This means that after completing our programme you would be
over half way to qualifying as an actuary

What about Statistics?


All knowledge is, in final analysis,
history.
All sciences are, in the abstract,
mathematics.
All judgements are in, in their rationale,
statistics.
Prof C. R. Rao

What is Statistics?
Statistics is the scientific application of mathematical principles to
the collection, analysis, and presentation of numerical data, and
the interpretation of the results.
Statisticians provide crucial guidance in determining what
information is reliable and which predictions can be trusted. They
often help search for clues to the solution of a scientific mystery
and sometimes keep investigators from being misled by false
impressions.
Many economic, social, political, and military decisions cannot
be made without statistical techniques, such as the design of
experiments to gain government approval of a newly
manufactured drug.

What Do Statisticians Do?

Produce trustworthy data

Analyse data to make their meaning clear


Draw practical conclusions from data
Principles of 4-Rs: Reading, wRiting, aRithmetic and
Reasoning under Uncertainty

Job Characteristics
Use data to solve problems in a wide variety of fields
Apply mathematical and statistical knowledge to social, economic, medical,
political, and ecological problems
Work individually and/or as part of an interdisciplinary team
Travel to consult with other professionals or attend conferences, seminars,
and continuing education activities
Advance the frontiers of statistics, mathematics, and probability through
education and research
If you enjoy any of these, a career in statistics may be right for you!

Examples of Statistics Careers


Medicine
Search for improved medical treatments based on carefully designed experiments.
Environment
Produce data on the abundance and location of plants and animals, on the spread of
pollution from its sources, and on the possible effects of changes in human activities.
Industry
Maintain quality of goods and services and the efficiency with which they are
produced and delivered.
Government Surveys
How many people are unemployed this month? What do we export to China, and
what do we import? Are rates of violent crime increasing or decreasing?
Market Research
Are consumer tastes in television programs changing? What are promising locations
for a new retail outlet?

What do I do as a Statistician?
Sulfate pollution map of the Eastern US in 2001

Annual map for the North Atlantic Ocean

Scholarships and Bursaries


Golden Jubilee Scholarships
Two scholarships comprising the full
value of tuition fees for the normal
duration of study in the School of
Mathematics.

School Scholarships

Scholarships of up to 5,000 per annum will


be awarded automatically to
anyinternational student who is accepted on
Golden Jubilee
an undergraduate degree programme. These
Scholar
scholarships will be awarded on the basis of
examination performance: more than 80% inPradeep Subedi (0609)
XII exams.

What happens to
our graduates?

Mean Starting Salaries in Mathematics


Southampton

21,948

Russell Group

20,688

Others

18,481

* Source: HESA 2006 & Soton data

Southampton Mathematics
Department is 2nd in the
Country for graduate
employment 6 months after
graduation.
(Better than Bristol, Cambridge, Durham, Edinburgh, Imperial, Nottingham, Oxford and Warwick)

www.unistats.com (2008)

Destinations
Academia, Accountancy, Actuarial, Aircraft Design,

Banking, Brokerage, City Quant, Crime Analysis, Computer Game Design,


Financial Analysis, Fusion Research,

(ex-) Home Secretary

, IT, Logistics,

Management Consultancy, Marketing, Medical


Research, Merchant Banking, Meteorology, Oceanography, Oil Industry,

Pharmaceuticals,
Analysis, Tax,

Security Service

, Simulation, Statistician, Systems

Teaching, Transport Planner, Underwriter,


Uranium production

....

What we offer
A student centred community
A caring staff, committed to teaching and sustaining an
active learning environment
An international research programme inspiring a leading
edge curriculum
An extremely broad undergraduate curriculum, feeding
into a range of postgraduate opportunities
A track record of success in graduate employment and
training