Undergraduate Course

Integrated Master in Science: Actuarial Science and Data Science

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Overview

The details

Course: Actuarial Science and Data Science

UCAS code: N399

Start date: October 2025

Study mode: Full-time

Duration: 4 years

Location: Colchester Campus

Based in: Mathematics, Statistics and Actuarial Science (School of)

Our MSci Actuarial Science and Data Science is an Integrated Masters course that will teach you the art of turning risk into opportunity with the understanding of visualising data in actuarial applications and beyond. Such a skillset is crucial for the growing market for experts in data science with the collection and analysis of data being crucial to understanding how to improve, create and guide products and services across the globe.

Our MSci Actuarial Science and Data Science course covers the syllabus of many core subjects of the Institute and Faculty of Actuaries. Depending on your choice of optional modules, and upon sufficient attainment, this can lead to exemptions from the professional exams CS1, CS2, CM1, CM2, CB1 and CB2. Our attractive blend of actuarial science and data science will equip you with an understanding of real-world financial issues, efficient use of experimental design to provide fast and less expensive solutions, and computing skills essential for entering the actuarial and data science profession.

You'll be taught theory and methods used by professional actuaries, learning how to apply mathematical and statistical skills to minimise financial risk when the stakes are high in areas such as commerce, government, insurance and finance. You'll be provided with the crucial basis of core skills in database programming and management, in developing data processing pipelines and in organising and analysing large and massive data sets. And you'll be introduced to and use programming languages Python and R for statistical analysis and data visualisation. In your third and fourth year, analysing data and methods in group projects will be essential capstone modules for the learning outcomes of the course.

Topics include:

contingencies, risk management and survival analysis
computer science and programming
statistics and operations research
artificial intelligence, databases and information retrieval
ethical issues around the use and processing of data
specialist skills in the areas of big data, data analytics and data science

Our Integrated Masters will give you the opportunity to fast-track your degree and complete your final year in nine months, compared with a regular Masters which usually takes twelve months. Combining your undergraduate and postgraduate study in one degree gives you a strong theoretical background as well as specialist expertise through independent research. This combination makes graduates from our course attractive candidates for many employers.

Professional accreditation

This programme is accredited to meet the educational requirements of the Chartered Mathematician designation awarded by the Institute of Mathematics and its Applications.

Why we're great.

You have access to our ultramodern facilities in our STEM Centre.
You join a community of scholars leading the way in technological research and development.
We have active links with industry to broaden your employment potential and placement opportunities.

Our expert staff

Many of our academics have won national or regional awards for lecturing, and many of them are qualified and accredited teachers – something which is very rare at a university.

Our course teachers are expert academics conducting internationally excellent multidisciplinary research, with significant multi-year experience in consulting and practising actuarial science. Our key actuarial science staff are:

Professor Spyridon Vrontos, specialising in actuarial and financial data science, predictive modelling and predictability
Dr Junlei Hu, reinsurance and optimal risk transfer
Dr Peng Liu, applied probability and queueing systems
Dr Jackie Wong, Bayesian methods and survival analysis
Dr John O'Hara, financial mathematics and machine learning in finance

Specialist facilities

In addition to teaching, we have a Maths Support Centre which offers help to students on a range of mathematical problems. Throughout term time, we can chat through mathematical problems either on a one-to-one or small group basis.
We have a dedicated social and study space for maths students, situated in the STEM Centre.
We host regular events and seminars throughout the year.

Your future

We expect our graduates of BSc Actuarial Science to become actuaries in a range of industries. It is predicted by the US Department of Labor that the employment of actuaries is expected to grow faster than any other occupation, making it a great prospect for a graduate job.

Aside from a rewarding career as an actuary, clear thinkers are required in every profession, so the successful mathematician has an extensive choice of potential careers. The Council for Mathematical Sciences offers further information on careers in mathematics.

We also work with our University's Student Development Team to help you find out about further work experience, internships, placements, and voluntary opportunities.

Entry requirements

Clearing entry requirements

We currently have places available in Clearing across a range of courses, with most offers at BBC–CCD (112–88 UCAS tariff points) or equivalent. Grade requirements may be lower in some cases, and some courses may also have subject specific requirements. We consider each application individually so get in touch if your grades are below those outlined here. .

Sign-up to for exclusive Clearing guidance and advice

English language requirements

English language requirements for applicants whose first language is not English: IELTS 6.0 overall, or specified score in another equivalent test that we accept.

Details of English language requirements, including component scores, and the tests we accept for applicants who require a Student visa (excluding Nationals of Majority English Speaking Countries) can be found here

If we accept the English component of an international qualification it will be included in the academic levels listed above for the relevant countries.

English language shelf-life

Most English language qualifications have a validity period of 5 years. The validity period of Pearson Test of English, TOEFL and CBSE or CISCE English is 2 years.

If you require a Student visa to study in the UK please see our immigration webpages for the latest Home Office guidance on English language qualifications.

Pre-sessional English courses

If you do not meet our IELTS requirements then you may be able to complete a pre-sessional English pathway that enables you to start your course without retaking IELTS.

Pending English language qualifications

You don’t need to achieve the required level before making your application, but it will be one of the conditions of your offer.

If you cannot find the qualification that you have achieved or are pending, then please email ugquery@essex.ac.uk .

Requirements for second and final year entry

Different requirements apply for second and final year entry, and specified component grades are also required for applicants who require a visa to study in the UK. Details of English language requirements, including UK Visas and Immigration minimum component scores, and the tests we accept for applicants who require a Student visa (excluding Nationals of Majority English Speaking Countries) can be found here

Additional Notes

If you’re an international student, but do not meet the English language or academic requirements for direct admission to this degree, you could prepare and gain entry through a pathway course. Find out more about opportunities available to you at the University of Essex International College

Structure

Course structure

We offer a flexible course structure with a mixture of core/compulsory modules, and optional modules chosen from lists.

Our research-led teaching is continually evolving to address the latest challenges and breakthroughs in the field. The course content is therefore reviewed on an annual basis to ensure our courses remain up-to-date so modules listed are subject to change.

We understand that deciding where and what to study is a very important decision for you. We'll make all reasonable efforts to provide you with the courses, services and facilities as described on our website and in line with your contract with us. However, if we need to make material changes, for example due to significant disruption, we'll let our applicants and students know as soon as possible.

Components and modules explained

Components

Components are the blocks of study that make up your course. A component may have a set module which you must study, or a number of modules from which you can choose.

Each component has a status and carries a certain number of credits towards your qualification.

Status	What this means
Core	You must take the set module for this component and you must pass. No failure can be permitted.
Core with Options	You can choose which module to study from the available options for this component but you must pass. No failure can be permitted.
Compulsory	You must take the set module for this component. There may be limited opportunities to continue on the course/be eligible for the qualification if you fail.
Compulsory with Options	You can choose which module to study from the available options for this component. There may be limited opportunities to continue on the course/be eligible for the qualification if you fail.
Optional	You can choose which module to study from the available options for this component. There may be limited opportunities to continue on the course/be eligible for the qualification if you fail.

The modules that are available for you to choose for each component will depend on several factors, including which modules you have chosen for other components, which modules you have completed in previous years of your course, and which term the module is taught in.

Modules

Modules are the individual units of study for your course. Each module has its own set of learning outcomes and assessment criteria and also carries a certain number of credits.

In most cases you will study one module per component, but in some cases you may need to study more than one module. For example, a 30-credit component may comprise of either one 30-credit module, or two 15-credit modules, depending on the options available.

Modules may be taught at different times of the year and by a different department or school to the one your course is primarily based in. You can find this information from the module code. For example, the module code HR100-4-FY means:

100

The department or school the module will be taught by.

In this example, the module would be taught by the Department of History.

The module number.

The UK academic level of the module.

A standard undergraduate course will comprise of level 4, 5 and 6 modules - increasing as you progress through the course.

A standard postgraduate taught course will comprise of level 7 modules.

A postgraduate research degree is a level 8 qualification.

The term the module will be taught in.

AU: Autumn term
SP: Spring term
SU: Summer term
FY: Full year
AP: Autumn and Spring terms
PS: Spring and Summer terms
AS: Autumn and Summer terms

COMPONENT 01: CORE

Calculus

(30 CREDITS)

This module will allow you to build your knowledge of differentiation and integration, how you can solve first and second order differential equations, Taylor Series and more.

View Calculus on our Module Directory

COMPONENT 02: CORE

Matrices and Complex Numbers

(15 CREDITS)

Matrices and complex numbers are two fundamental concepts which arise throughout mathematics. In this module you will be introduced to these objects and learn fundamental techniques for working with them in a variety of contexts.

View Matrices and Complex Numbers on our Module Directory

COMPONENT 03: CORE

Statistics I

(15 CREDITS)

In this module you will learn the fundamentals of probability and statistics, including axioms and combinatorial analysis, distributions, and independence conditions. You will learn how to apply the addition rule of probability and construct diagrams to visually represent data sets. The course also covers the use of descriptive statistics to analyse data and provides hands-on experience with the R software package.

View Statistics I on our Module Directory

COMPONENT 04: CORE

Introduction to Finance

(15 CREDITS)

Introduction to Finance is designed to give you an introduction to the wider finance subject area ass well as firm foundation for further studies in finance. You’ll gain a overview of the financial system, instruments and markets, and ideas about finance concepts and problems. The topics covered include investment companies, return and risk, and behavioural finance. You’ll develop and be able to transmit knowledge about the financial system, instruments and markets and ideas about finance concepts and problems at an introductory level; be aware of, at an introductory level, different ways of thinking about and analysing financial phenomena; and, reflecting the principles of how we approach Finance at Essex Business School, you’ll gain an appreciation of the role that finance plays in society as whole.

View Introduction to Finance on our Module Directory

COMPONENT 05: COMPULSORY

Economics for Actuaries

(30 CREDITS)

This module introduces foundational concepts of microeconomics and macroeconomics. You will learn how economic agents make decisions, how these decisions interact, and how these impact the broader economic system.

View Economics for Actuaries on our Module Directory

COMPONENT 06: COMPULSORY

Mathematical and Computational Modelling

(15 CREDITS)

This module introduces programming skills and their applications in a range of mathematical contexts. Mathematical modelling skills will be an important focus, along with structuring and implementing code in MATLAB and R. To help you consolidate these skills, a key part of the module will be investigative computational modelling studies.

View Mathematical and Computational Modelling on our Module Directory

COMPONENT 07: COMPULSORY

Mathematics Careers and Employability

(0 CREDITS)

What skills do you need to succeed during your studies? What about after university? How will you harness your knowledge and soft skills to realise your career goals? This module helps you take an active role in developing transferrable skills and capitalising on your unique background. As well as broad reflection on your professional development, this module will help you explore different career directions and prepare you for the application process, supported by an advisor from within the department.

View Mathematics Careers and Employability on our Module Directory

COMPONENT 01: COMPULSORY

Finance and Financial Reporting

(15 CREDITS)

What instruments are used by companies to raise finance and manage financial risk? What is the role of financial institutions operating in financial markets? What are the techniques of financial accounting? How do you use spreadsheets in financial analysis? Examine and develop the concepts and elements of corporate finance.

View Finance and Financial Reporting on our Module Directory

COMPONENT 02: COMPULSORY

Financial Mathematics

(15 CREDITS)

How do you compare different income streams? You will be able to answer the question after studying this module which is critical in any financial decision making. In this module, all payments are assumed to be guaranteed and we will focus on the concept of valuing future monetary payments in terms of present. This module covers part of the CM1 course of the IFoA.

View Financial Mathematics on our Module Directory

COMPONENT 03: COMPULSORY

Statistics II

(15 CREDITS)

This module continues your journey into probability and statistics. Topics include distribution theory, estimation and Maximum Likelihood estimators, hypothesis testing, basic linear regression and multiple linear regression. You will continue to develop your skills with implementations in R.

View Statistics II on our Module Directory

COMPONENT 04: COMPULSORY

Survival Analysis

(15 CREDITS)

What are the principles of actuarial modelling? And what are survival models? Examine how calculations in clinical trials, pensions, and life and health insurance require reliable estimates of transition intensities/survival rates. Learn how to estimate these intensities. Build your understanding of estimation procedures for lifetime distributions.

View Survival Analysis on our Module Directory

COMPONENT 05: COMPULSORY

Contingencies I

(15 CREDITS)

How do you define simple assurance contracts? What practical methods are required to evaluate expected values from a contract? How can you calculate gross premiums and reserves of assurance and reserves? Understand the mathematical techniques that can calculate, model and value cash flows dependent on death, survival or other uncertain risks.

View Contingencies I on our Module Directory

COMPONENT 06: COMPULSORY

Linear Algebra

(15 CREDITS)

Linear systems are some of the most widely-applied concepts in modern algebra. Beginning with the abstract axiomatic definitions of vectors, vector spaces and linear maps, this module allows you to derive powerful methods for understanding many different systems in mathematics and science.

View Linear Algebra on our Module Directory

COMPONENT 07: COMPULSORY

Ordinary Differential Equations

(15 CREDITS)

Ordinary differential equations are the backbone of much applied mathematics, arising everywhere that a physical, financial or other system changes continuously. This module introduces techniques for studying classes of linear and nonlinear differential equations, and for interpreting their solutions.

View Ordinary Differential Equations on our Module Directory

COMPONENT 08: COMPULSORY

Optimisation (Linear Programming)

(15 CREDITS)

Are you able to solve a small linear programming problem using an appropriate version of the Simplex Algorithm? Learn to formulate an appropriate linear programming model and use the MATLAB computer package to solve linear programming problems. Understand the methods of linear programming, including both theoretical and computational aspects.

View Optimisation (Linear Programming) on our Module Directory

COMPONENT 09: COMPULSORY

Mathematics Careers and Employability

(0 CREDITS)

View Mathematics Careers and Employability on our Module Directory

COMPONENT 01: COMPULSORY

Statistical Methods

(15 CREDITS)

This module will enable you to expand your knowledge on multiple statistical methods. You will learn the concepts of decision theory and how to apply them, have the chance to explore Monte Carlo simulation, and develop an understanding of Bayesian inference, and the basic concepts of a generalised linear model.

View Statistical Methods on our Module Directory

COMPONENT 02: COMPULSORY

Mathematics of Portfolios

(15 CREDITS)

How do you formulate financial decision problems mathematically? And how do you identify an appropriate method of solution? Understand the basic models and mathematical methods underlying modern portfolio management. Assess the limitations of these models and learn to correctly interpret your results from calculations.

View Mathematics of Portfolios on our Module Directory

COMPONENT 03: COMPULSORY

Financial Derivatives

(15 CREDITS)

Why are arbitrage arguments important in modern finance? How can a binomial model evaluate derivatives? What are the main models for interest rates? Understand the mathematical techniques underlying the modelling of derivative pricing. Acquire skills in the development of pricing and risk management. Explore stochastic methods and credit risk.

View Financial Derivatives on our Module Directory

COMPONENT 04: COMPULSORY

Stochastic Processes

(15 CREDITS)

Ever considered becoming an Actuary? This module covers the required material for the Institute and Faculty of Actuaries CT4 and CT6 syllabus. It explores the stochastic process and principles of actuarial modelling alongside time series models and analysis.

View Stochastic Processes on our Module Directory

COMPONENT 05: COMPULSORY

Contingencies II

(15 CREDITS)

What methods are available to model cash flows that are contingent on competing risk? What techniques for discounted emerging costs can be used in pricing, reserving and assessing profitability? Study the methods and techniques used in pricing and valuation of insurance policies and products, putting emphasis on those involving multiple lives.

View Contingencies II on our Module Directory

COMPONENT 06: COMPULSORY

Linear Regression Analysis

(15 CREDITS)

Can you calculate confidence intervals for parameters and prediction intervals for future observations? Represent a linear model in matrix form? Or adapt a model to fit growth curves? Learn to apply linear models to analyse data. Discuss underlying assumptions and standard approaches. Understand methods to design and analyse experiments.

View Linear Regression Analysis on our Module Directory

COMPONENT 07: COMPULSORY

Capstone Project: Mathematics

(15 CREDITS)

A Capstone Project is a self-study module which allows you to step out of the classroom and gain experience of a topic from mathematical sciences beyond your taught modules. You will develop your independent research skills, as well as report-writing and communication skills, both written and oral.

View Capstone Project: Mathematics on our Module Directory

COMPONENT 08: COMPULSORY

Bayesian and Computational Statistics

(15 CREDITS)

This module focuses on Bayesian and computational statistics. You will develop your understanding of Bayes’ theorem and Bayesian statistical modelling, and Markov chain Monte Carlo simulation, by developing algorithms for simple probability distributions.

View Bayesian and Computational Statistics on our Module Directory

COMPONENT 09: COMPULSORY

Mathematics Careers and Employability

(0 CREDITS)

View Mathematics Careers and Employability on our Module Directory

COMPONENT 01: CORE

Advanced Capstone Project: Actuarial Science, Data Science or Mathematics

(30 CREDITS)

An Advanced Capstone Project is an independent study module, on a topic of your choosing which relates to your course. Not only will you develop your subject knowledge, but you will also develop vital skills such as independent research skills, report-writing and presentation skills. This provides an excellent opportunity for you to showcase your time-management skills and ability to communicate complex ideas.

View Advanced Capstone Project: Actuarial Science, Data Science or Mathematics on our Module Directory

COMPONENT 02: COMPULSORY

Machine Learning

(15 CREDITS)

Humans can often perform a task extremely well (e.g., telling cats from dogs) but are unable to understand and describe the decision process followed. Without this explicit knowledge, we cannot write computer programs that can be used by machines to perform the same task. “Machine learning” is the study and application of methods to learn such algorithms automatically from sets of examples, just like babies can learn to tell cats from dogs simply by being shown examples of dogs and cats by their parents. Machine learning has proven particularly suited to cases such as optical character recognition, dictation software, language translators, fraud detection in financial transactions, and many others.

View Machine Learning on our Module Directory

COMPONENT 03: OPTIONAL

(45 CREDITS)

COMPONENT 04: OPTIONAL

(30 CREDITS)

Teaching

Undergraduate students in the School of Mathematics, Statistics and Actuarial Science typically attend three taught hours per module per week. This varies by module, e.g. two hours of lectures and one class/lab.
A significant amount of practical lab work will need undertaking for written assignments and as part of your learning.
Take a mathematics careers and employability module, where you compile a portfolio of skills and experience.

Assessment

Your final mark is a weighted combination of coursework and summer examinations.
Your first year of study does not count towards your final degree class.
You receive regular feedback through in-term tests.
In your final year, you have the opportunity to complete a full-year or one-term project.

Fees and funding

Home/UK fee

£9,535 per year

International fee

£20,475 per year

Fees will increase for each academic year of study.

Home/UK fees and funding information

International fees and funding information

What's next

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Check out our Visit Us pages to find out more information about booking onto one of our events. And if the dates aren’t suitable for you, feel free to book a campus tour here.

2025 Open Days (Colchester Campus)

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Find out more about Clearing

Interviews

We don’t interview all applicants during Clearing, however, we will only make offers for the following courses after a successful interview:

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The interview allows our academics to find out more about you, and in turn you’ll be able to ask us any questions you might have. Further details will be emailed to you if you are shortlisted for interview.

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