Master's of Actuarial and Quantitative Risk Management (MAQRM)

MAQRM Prerequisites:


All new MAQRM students are expected to have already passed the FM Exam (Financial Mathematics Exam), an actuarial exam administered by the Society of Actuaries and the Casualty Actuarial Society. If a student does not meet this prerequisite, MATH 3618 can be taken during the first semester of a student’s MAQRM study.

  • MATH 2153 (4 cr. hrs.) Calculus III
  • MATH 3618 (3 cr. hrs.) Theory of Interest (Required if FM Exam not passed)
  • MATH 4530 (3 cr. hrs.) Probability
  • STAT 4201 (3 cr. hrs.) Intro to Mathematical Statistics I
  • ECON 2001.01 or .03H (3 cr. hrs.) Principles of Microeconomics
  • ECON 2002.01 or .03H (3 cr. hrs.) Principles of Macroeconomics
  • CSE 1222 (3 cr. hrs.) Intro to Computer Programming in C++
  • CSE 1223 (3 cr. hrs.) Intro to Computer Programming in Java

Required Core Courses (12 credit hours):


​A student will need to pass all required core, required sequences, and elective courses with at least a grade of C- by the end of the Spring Semester of the second year.

Mathematics & Statistics


Required AQRM Sequences (12-18 credit hours):


Choose at least 2 AQRM sequences from the list below.

At least three elective courses must be chosen from the list below and must add up to at least 12 credit hours. At least two electives must be from the same sub-specialization listed below. A student may request to use other courses to satisfy the elective requirement. The request should be submitted by the advisor to the Graduate Studies Committee (GSC) for approval.

Life Contingencies

Loss Models

Stochastic Calculus for Finance

  • MATH 5635 (3 cr. hrs.) Stochastic Calculus for Finance I
  • MATH 5636 (3 cr. hrs.) Stochastic Calculus for Finance II

Topics in Risk Management

  • MATH 5637 (3 cr. hrs.) Topics in Risk Management (repeatable up to 6 credit hours)
  • MATH 5637 (3 cr. hrs.) Topics in Risk Management (repeatable up to 6 credit hours)

Numerical Analysis


Elective Courses (3+ credit hours):


Elective courses must be chosen from the list below, along with the Practicum (3 cr. hrs.) and, if applicable, the Thesis Writing Course (3 cr. hrs.) must add up to the total 33 cr. hrs. required for the MAQRM degree. A student may request to use other courses to satisfy the elective requirement. The request, in the form of a petition, should be submitted by the advisor and student to the Graduate Studies Committee (GSC) for approval.

Students opting for the MAQRM Non-Thesis Option must typically complete another 3 cr. hrs. to reach the 33 hours overall required for the degree.

Real Analysis

Differential Equations

Numerical Linear Algebra

Statistics

  • STAT 5740 (2 cr. hrs.) Introduction to SAS
  • STAT 6450 (4 cr. hrs.) Regression Analysis
  • STAT 6540 (3 cr. hrs.) Applied Stochastic Processes I
  • STAT 6550 (2 cr. hrs.) Time Series
  • STAT 6560 (3 cr. hrs.) Applied Multivariate Analysis
  • STAT 6605 (3 cr. hrs.) Applied Survival Analysis

Thesis Option (3 credit hours):



Each student must select a thesis advisor by the end of the Autumn Semester of the second year and submit a Change of Advisor form to the Graduate Office. The thesis advisor needs to be a Mathematics Department faculty member of category M level or higher. Typically this will be the MAQRM program director, Dr. Chunsheng Ban. Thesis research and writing will occur during the second year, and should be completed at the end of the Spring Break of the second year. During this time students should generally be signed up for 3 hrs. of MATH 6999 with the supervising Master's Faculty (Thesis) Advisor.

  • MATH 6999 (3 cr. hrs.)  Graduate Thesis Research

Thesis Defense & Graduation:


The thesis will be written during the second year under the supervision of the thesis advisor, and prepared in compliance with university rules. The thesis should be completed early during the Spring Semester. All students are expected to apply to graduate with the Master's of Actuarial and Quantitative Risk Management (AQRM-MAQRM) degree via the Thesis-Option before the second Friday of the Spring Semester of their second year. In order to apply, a student also has to choose a second member of the examination committee by the beginning of the same semester. This has to be a Graduate Faculty member but may be from anther OSU unit related to the specialization. Typically (but not necessarily) this can be the second mentor of the Practicum. The oral examination has to be scheduled and passed during the Spring Semester of the second year, after submission of a draft of the thesis. An additional written examination is not required. The thesis needs to follow university formatting guidelines, be approved by the committee, and be submitted to the Graduate School and OhioLink.

For further details see Section VI of the Graduate School Handbook.

The credits earned from required core, required sequences, and elective courses must be at least 27 credit hours. Additionally, MATH 5194 Group Study: Practicum in AQRM counts for 3 additonal hours on the degree and MATH 6999 Thesis Writing counts for 3 more hours on this degree. Independent studies, group studies, and research credit hours or hours from unapproved courses not on the lists below do not count toward the required 33 total hours of course work.

[pdf]- Some links on this page are to PDF files.  If you need these files in a more accessible format, please webmaster@math.osu.edu . PDF files require the use of Adobe Acrobat Reader software to open them. If you do not have Reader, you may use the following link to Adobe to download it for free at: Adobe Acrobat Reader.

 

0