2016-2017 Academic Catalog 
    
    Sep 21, 2019  
2016-2017 Academic Catalog [Archived Catalog]

Courses


Undergraduate Prerequisites Course Numbering
A “C-” or higher is required in all prerequisite courses 100-299 - Lower division undergraduate
  300-499 - Upper division undergraduate
  500-699 - Graduate
Search Tip 700-799 - Doctoral
Use the asterisk (*) key as a wild card.
Example: Select “Prefix” NURS and enter 6* in the “Code or Number” field to return all Nursing courses at the 600 level.

 

 
  
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    ACCT 210 - Financial Accounting


    Credits: Three (3)
    Prerequisite: ISYS-100, and MATH-116
    This course focuses on how business events affect financial statements by acquiring a working knowledge of basic accounting theory and concepts. Topics include the role of accounting in decision making; the recording procedures that accountants use to organize information for financial statement preparation; and analytical tools and accounting principles to aid in reading and interpreting financial statements.
  
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    ACCT 211 - Managerial Accounting


    Credits: Three (3)
    Prerequisite: ISYS-100, ACCT-210, and MATH-116
    The concepts of managerial accounting are covered in this course. Emphasis is placed on the preparation and use of financial information for planning, decision making and control. The course will address cost classifications, product and service costing methods and systems, profit planning, measuring performance, and the new manufacturing environment.
  
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    ACCT 270 - Intro to Accounting in the St. Louis Region


    Credits: One (1)
    This unique field-based course explores accounting in many professional settings. Students visit a number of companies and hear speakers from a variety of organizations including manufacturing facilities, not-for-profit organizations and a Fortune 500 company. Course requirements include the preparation of a portfolio and a project.


  
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    ACCT 293 - Cooperative Education


    Credits: One (1) to Four (4)
  
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    ACCT 310 - Forensic Accounting 1


    Credits: Three (3)
    Prerequisite: ACCT-211; BUS-280
    This course provides an introduction to the field of forensic accounting and fraud detection and examination. Course content includes an introduction of accounting ethics, fraudulent financial reporting, Foreign corrupt practices act, economic damages, business valuation, money laundering, terrorism and cyber security.
  
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    ACCT 315 - Financial Data Analytics


    Credits: Three (3)
    Prerequisite: ACCT-211
    Business Intelligence is the transformation of data into information, then intelligence for decisions and finally into action. This course focuses on using Excel as a tool for Business Intelligence.
  
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    ACCT 318 - Financial Reporting 1


    Credits: Three (3)
    Prerequisite: ACCT-211
    An in-depth study of financial accounting topics including time value concepts; valuation of inventories; acquisition and disposition of property, plant, and equipment; intangible assets; and revenue recognition. The transition from U.S. GAAP to IFRS is also discussed.
  
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    ACCT 319 - Financial Reporting 2


    Credits: Three (3)
    Prerequisite: ACCT-318
    An in-depth study of accounting topics including stockholders equity issues, earnings per share valuation, investments, current and long-term liabilities, accounting for income taxes, pensions, leases, post- retirement benefits and statement of cash flows. The transition from U.S. GAAP to IFRS is also discussed.
  
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    ACCT 370 - Accounting in the Saint Louis Region


    Credits: Three (3)
    Prerequisite: ACCT-210
    This unique field-based course explores accounting in many professional settings. Students visit a number of companies and hear speakers from a variety of organizations including manufacturing facilities, not- for-profit organizations and a Fortune 500 company.
    Note: Course requirements include the preparation of a portfolio and paper.
  
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    ACCT 393 - Cooperative Education


    Credits: One (1) to Four (4)
  
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    ACCT 409 - Advanced Managerial Accounting


    Credits: Three (3)
    Prerequisite: ACCT-211, ECON-201 OR 202, FIN-312, MGMT-321
    In this course students obtain, use and critically evaluate financial and non-financial information to make effective business decisions considering strategic, technological and environmental factors.

     

  
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    ACCT 412 - Business Taxes


    Credits: Three (3)
    Prerequisite: ACCT-211
    This course will cover the framework of the federal income tax system and how taxes impact the decision-making process. The class will focus on the fundamental concepts of common tax regulations and provide a broad overview of the taxation of corporations, individuals andflow-through entities. Other topics include the current tax environment, taxation of sole proprietorships, and fringe benefits and investment assets.
  
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    ACCT 413 - Individual Income Tax


    Credits: Three (3)
    Prerequisite: ACCT-318
    This course emphasizes the federal income taxation of individuals as prescribed in the Internal Revenue Code, related regulations, rulings and case law. The purpose is to develop an understanding of the basic principles and concepts of income taxes, to become acquainted with research skills needed to locate appropriate tax law sources and to apply principles and concepts to tax return preparation.
  
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    ACCT 414 - Corporate Income Tax


    Credits: Three (3)
    Prerequisite: ACCT-412 or ACCT-413
    This course focuses on the federal income taxation of regular corporations, S corporations and partnerships. Coverage includes tax administration and filing procedures, liability determination, preparation of tax returns, tax research and tax planning considerations.
  
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    ACCT 415 - Accounting Information Systems


    Credits: Three (3)
    Prerequisite: ACCT-211
    This course introduces students to Accounting Information Systems concepts and applications. Topics covered include system development life cycle, AIS design and development, accounting database design, business process analysis, accounting applications,IT security and controls, and accounting requirements for the development of intelligent systems.
  
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    ACCT 417 - Financial Reporting 3


    Credits: Three (3)
    Prerequisite: ACCT-319
    This course covers advanced-level accounting subjects including business combinations, partnerships and accounting for multi-national entities, and segment and interim reporting.
  
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    ACCT 423 - Auditing


    Credits: Three (3)
    Prerequisite: ACCT-318
    This course covers the theory and application of required standards and appropriate procedures used by the independentaccountant to give various degrees of assurance to an organization’s financial information and operations, with a focus on external auditing. The auditor’s responsibilities, work paper preparation, and ethical standards are included in this course.

     

  
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    ACCT 424 - Internal Audit


    Credits: Three (3)
    Prerequisite: ACCT-423
    This course provides an overview of the role and functions of the internal auditor, including compliance and operational auditing; standards, procedures and codes of conduct; organization and administration; internal control issues and risk assessment; and relationships with management and the external auditors.
  
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    ACCT 425 - IT Audit


    Credits: Three (3)
    Prerequisite: ACCT-415
    This course will present the tools, guidelines and techniques used in IT auditing, including the internal control framework, internal and IT controls, technical environment, documentation techniques, assessment of management and application controls, risk assessment and management, and evidence collection and evaluation.


  
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    ACCT 435 - Quickbooks for Accounting Professionals


    Credits: Three (3)
    Prerequisite: ACCT-415
    Students learn basic and advanced features of QuickBooks small business accounting software. Topics include how accounting professionals work efficiently with multiple QuickBooks clients, customizing QuickBooks to meet client requirements, reviewing and adjusting client balances, managing client’s fixed assets, using the audit trail to track client errors, implementing security and controls, and using remote access.
  
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    ACCT 440 - Enterprise Risk Mgmt and Controls


    Credits: One (1)
    Prerequisite: ACCT-211
    The focus of this course is on understanding an entity and its environment, including the identification and assessment of risk. Topics covered include the COSO framework, entity level controls, and the effect that information technology has on an organization’s controls.
  
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    ACCT 455 - Advanced IT Audit


    Credits: Three (3)
    The purpose of this course is to help prepare students for a successful career in public practice, industry or government by understanding how to audit, use and participate in the design of accounting information systems. The course will also help students learn how to assess and consider the impact of IT governance, risk and compliance on accounting functions, focusing on how IT affects business processes and controls.
  
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    ACCT 456 - Financial Statement Analysis I


    Credits: One (1)
    Prerequisite: ACCT-211
    This course provides the skills necessary to become familiar with the content of financial information provided in an annual report and the most common filings required by the Securities and Exchange Commission. Topics also covered include analyzing the balance sheet and income statement, profitability, traditional ratio analysis and interpretation, and common size financial statements.
  
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    ACCT 457 - Financial Statement Analysis II


    Credits: One (1)
    Prerequisite: ACCT-211
    This course provides the skills necessary to interpret financial statement information by focusing on the statement of cash flows and the notes that accompany the required financial statements. Additional topics include accounting alternatives available for inventory, long-lived assets and stock options, adjusting financial statements for comparability, and an overview of disclosures required for leases, pension plans, income taxes, debt and operating segments.
  
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    ACCT 458 - Forensic Accounting 2


    Credits: Three (3)
    Prerequisite: ACCT-423
    This course provides an overview of the field of forensic accounting and fraud detection and examination. Course content includes evidence gathering, analysis of financial information and documentation, data analytics, investigative methods, the legal elements of fraud, and interviewing and reporting skills.

     

  
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    ACCT 461 - Accounting for Not-For-Profit Entities


    Credits: One (1)
    Prerequisite: ACCT-211
    This course provides an overview of the accounting, auditing and reporting issues of not-for-profit entities. Topics include the preparation of financial statements, challenges of accounting, and funds used.
  
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    ACCT 463 - Performance Management


    Credits: One (1)
    Prerequisite: ACCT-211
    This course examines the analysis of financial statements to identify the critical success factors of an organization and develop measures that can be tracked over time. Students learn to use these measures to assess the progress made in achieving specific targets that are linked to the organization’s vision.
  
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    ACCT 468 - Estate and Trust Taxation


    Credits: One (1)
    Prerequisite: ACCT-211
    This course covers the fundamentals of estate, trust and gift taxation, including the components of taxable income, computation of tax liability and use of appropriate tax forms.
  
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    ACCT 470 - Volunteer Tax Preparation


    Credits: One (1)
    Prerequisite: ACCT-211
    This course is an overview of individual Federal and Missouri income tax return preparation, including filing status, appropriate tax forms and basic credits. This course requires studentsto perform volunteer tax preparation.
  
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    ACCT 478 - International Accounting


    Credits: One (1)
    This course explores topics in the area of international accounting.
  
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    ACCT 485 - Adv Accounting Information Systems


    Credits: Three (3)
    Prerequisite: ACCT-415 and SENIOR STATUS
    Advanced Accounting Information Systems builds on the introductory Accounting Information Systems course, focusing on emerging trends and technologies in accounting information systems and current developments in the field.
  
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    ACCT 491 - Account theory (Capstone)


    Credits: Three (3)
    Prerequisite: ACCT-310, ACCT-409, FIN-312, and SENIOR STATUS
    The capstone course integrates previous course material from financial and managerial accounting, auditing, taxation, international financial reporting standards and related accounting courses. The case- oriented class involves a wide variety of issues facing accountants today.
  
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    ACCT 493 - Cooperative Education


    Credits: One (1) to Four (4)
  
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    ACCT 496 - Independent Study


    Credits: One (1) to Four (4)
  
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    ACCT 497 - Special Topics


    Credits: Three (3)
    Prerequisite: ACCT-211
  
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    ACCT 499 - Internship


    Credits: One (1) to Four (4)
  
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    ACCT 509 - Financial Accounting


    Credits: Three (3)
    The fundamentals of accounting and the methods of reporting are covered in this course. Measurement of periodic net income and financial position and the reporting of the results to stockholders and creditors are key objectives. This course serves as an introduction to accounting for those students with no background or work experience in accounting.
  
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    ACCT 610 - Accounting for Managers


    Credits: Three (3)
    Prerequisite: ACCT-509
    The basic foundations of managerial accounting to aid in planning, implementing, controlling and evaluating an organizations goals and objectives are covered in this course.
    NOTE: Computer spreadsheet proficiency required


  
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    ACCT 614 - Tax Planning and Decision Making


    Credits: Three (3)
    Prerequisite: ACCT-610
    This course will focus on the fundamental concepts of common tax regulations and provide a broad overview of corporate and partnership taxation and individual tax planning issues. Specific topics include: the framework of the tax system; fundamentals of tax planning; the taxation of sole proprietorships, flow-through entities and corporations; and the tax treatment of fringe benefits and investment assets.
  
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    ACCT 616 - Financial Reporting 3


    Credits: Three (3)
    This course covers advanced-level accounting subjects, including business combinations, partnerships and accounting for multi-national entities; and segment and interim reporting.
  
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    ACCT 618 - Strategic Accounting Issues


    Credits: Three (3)
    Prerequisite: ACCT-610
    This course deals with the role that the accounting function plays in achieving the strategic goals of an organization. It also explores the issues of corporate governance, including the impact of the Sarbanes-Oxley Act and the interactions among management, auditors and the audit committee.
  
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    ACCT 620 - Financial Statement Analysis


    Credits: Three (3)
    Prerequisite: ACCT-610
    This course will provide the skills necessary to interpret and analyze financial statement information by discussing the four key financial statementsand analyzing the financial information to evaluate profitability, liquidity and risk. Topics also covered include traditional ratio analysis and interpretation, accounting rules and quality of earnings, warning signs of financial distress, and SEC reporting requirements.
  
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    ACCT 650 - Accounting Research and Communication


    Credits: Three (3)
    This course will use various sources of authoritative guidance to resolve complex, professionally oriented problems that include auditing, financial reporting, and taxation. Students will analyze numerous unstructured cases and present their conclusions with written reports and oral presentations. 

     

  
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    ACCT 660 - Data Analytics


    Credits: Three (3)
    This course serves as an introduction to data analytics. Data analytics is generally defined as the use of data, quantitative analysis, and modeling to drive business decisions. Specific data mining techniques to illustrate business decision-making situations is discussed.

     

  
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    ACCT 670 - Advanced Auditing


    Credits: Three (3)
    This course provides a review of auditing procedures, auditing standards generally accepted in the United States (GAAS) and other standards related to attestation engagements. This course must be taken during the last twelve credit hours of the program.

     

  
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    ACCT 672 - Advanced Business Environment & Concepts


    Credits: Three (3)
    This course provides a review of business structure; economic concepts essential to understanding an entity’s operation, business and industry; financial management; information technology; and planning and measurement. This course must be taken during the last twelve credit hours of the program.

     

  
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    ACCT 674 - Advanced Financial Accounting and Reporting


    Credits: Three (3)
    This course provides a review of accounting principles generally accepted in the United States (GAAP) that affect business enterprises, not-for-profit organizations and government entities. This course must be taken during the last twelve credit hours of the program.

     

  
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    ACCT 676 - Advanced Accounting Regulation


    Credits: Three (3)
    This course provides a review of taxation, ethics, professional and legal responsibilities, and business law. Topics address CPAs’ professional and legal responsibilities, and legal implications of business transactions, particularly as they relate to accounting and auditing. This course must be taken during the last twelve credit hours of the program.

     

  
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    ACCT 697 - Special Studies


    Credits: Three (3)
  
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    ACSC 151 - Calculus I


    Credits: Four (4)
    Prerequisite: Actuarial Science Major
    Topics include concepts of limit and continuity, rate of change of a function, derivatives and their applications, integration and applications of the definite integral.
    Cross-listed: MATH-151
  
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    ACSC 201 - Math Models with Tech I


    Credits: Three (3)
    Prerequisite: MATH-151
    Corequisite: MATH-151

    This course covers Microsoft Excel skills and applications, as well as the application of Excel to problem solving from an actuarial perspective. A variety of real-life problems will provide the context for developing spreadsheet proficiency, including functions and formulas, statistical analysis, numerical solutions, optimization, and graphical output. This is a “hands-on” course that is supplemented by guest lecturers and various team projects.
    Cross-listed: MATH-201
  
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    ACSC 213 - Topics in Actuarial Science


    Credits: Three (3)
    “Topics in Actuarial Science” is intended to be ongoing, and taught every semester.  Students can take this one-credit course multiple times for credit; initially up to two times.  The course is open to actuarial science majors who are sophomores and above.  The course will be a combination of guest lecturers (drawn from industry and professional leaders from around the country) and discussions led by me.  Additionally, each student will be asked to participate in one group project.
    Cross-listed: ACSC 413
  
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    ACSC 293 - Cooperative Education


    Credits: One (1) to Four (4)
    Cooperative education courses may be taken before a students major, minor and General Education requirements are completed, but they are not counted as part of those requirements.
    Cross-listed: MATH-293, MATH-393
  
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    ACSC 296 - Independent Study


    Credits: One (1) to Four (4)
  
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    ACSC 297 - Special Studies


    Credits: One (1) to Four (4)
  
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    ACSC 298 - Acturaial Studies


    Credits: Two (2)
  
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    ACSC 301 - Math Models with Tech II


    Credits: Three (3)
    Prerequisite: ACSC-201
    This course complements and continues the technical and business training learned in ACSC/MATH 201. The course focuses on business applications including finance, statistics, and mathematical modeling. The applications provide the context for developing programming skills, using the Visual Basic Applications language as the programming vehicle. This is a “hands-on” course that is supplemented by guest lecturers and various team projects
    Cross-listed: MATH-301
  
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    ACSC 305 - Insurance and Risk


    Credits: Three (3)
    This course introduces the student to the fundamental principles of insurance and risk.  Students receive a thorough introduction to risk concepts, as well as life, health, and property and casualty insurance, and retirement plans. Group projects, guest lecturers and outside readings supplement the text. This course helps prepare students for Online Course 1 (CA1) – Risk Management and Insurance Operations, offered by the Casualty Actuarial Society.
  
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    ACSC 370 - Mathematical Statistics I


    Credits: Three (3)
    Prerequisite: MATH-152
    This is the first in a sequence of two one-semester courses on mathematical statistics (ACSC/MATH 371 is the second course). Topics include distribution of random variables; conditional probability and marginal distributions; stochastic independence; distributions of functions of random variables; and sampling theory. The course is calculus-based.  ACSC 370 and ACSC 371 (along with Calculus) cover all of the learning objectives contained in Examination P (Probability) of the Society of Actuaries.
    Cross-listed: MATH-370
  
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    ACSC 371 - Mathematical Statistics II


    Credits: Three (3)
    Prerequisite: ACSC-370, Minimum grade C-
    This is the second in a sequence of two one-semester courses on mathematical statistics (ACSC/MATH 370 is the first course). Topics include order statistics and maximum likelihood estimators; sampling distributions of estimators; point and interval estimation of parameters; statistical hypotheses; and statistical tests, including uniformly most powerful tests.  ACSC 370 and ACSC 371 (along with Calculus) cover all of the learning objectives contained in Examination P (Probability) of the Society of Actuaries.  ACSC 371 also covers some of the statistical content contained in Examination C (Construction of Actuarial Models) of the SOA.
    Cross-listed: MATH-371
  
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    ACSC 372 - Mathematical Statistics III


    Credits: Three (3)
    Prerequisite: ACSC-371, Minimum grade C
    This is the last in a sequence of three one-semester courses on mathematical statistics.  Topics include classical basic concepts of inference, inference for single samples, inference for two samples, inferences for proportion and advance estimation methods including Maximum Likelihood and Bayesian Estimation. This course emphasizes the applications of the theory to statistics and estimation, and prepares the student for the portion of Society of Actuaries Examination C (Construction of Actuarial Models) on probability and estimation.  This course is calculus - based.
    Cross-listed: MATH-372
  
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    ACSC 393 - Cooperative Education


    Credits: One (1) to Four (4)
    Cooperative education courses may be taken before a students major, minor and General Education requirements are completed, but they are not counted as part of those requirements.
    Cross-listed: MATH-293, MATH-393, ACSC-293
  
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    ACSC 394 - Actuarial Seminar I


    Credits: Three (3)
    Prerequisite: ACSC-370 or MATH-370
    The primary objective of this course is to prepare students to pass Society of Actuaries Examination P (Probability).  Students should be able to solve problems involving the rules of differential and integral calculus for one and several variables, normal distribution with its application, joint and marginal distributions, and univariate and multivariate probability distributions.
    Note: This course is for actuarial science majors only.
  
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    ACSC 396 - Independent Study


    Credits: One (1) to Four (4)
  
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    ACSC 401 - Intro Enterprise Risk MGMT


    Credits: Three (3)
    Prerequisite: ACSC 416
    This course is designed for students (a) who have taken ACSC 416 (Corporate Finance) or (b) are senior ACSC majors.  Content is from the ERM text covered in the FAP syllabus of the SOA, the first time an aspiring actuary studies ERM.  The course also includes guest lecturers, small group projects, and a capstone class project selected by the students.
  
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    ACSC 405 - Statistical Modeling I


    Credits: Three (3)
    Prerequisite: ACSC-371 or MATH-371, Minimum grade C
    The objective of this course is to provide students with the foundations in advanced statistical and stochastic modeling. This course covers:  evaluating data for estimation and goodness-of-fit models; least squares estimates of parameters; single and multiple linear regression; hypothesis testing; confidence intervals in linear regression models; testing of models; data analysis and appropriateness of models; linear time series models; moving average, autoregressive and/or ARIMA models; estimation; data analysis and forecasting with time series models; forecast errors and confidence intervals. Students who receive a B- or highrt in this course are eligible to receive VEE (Validation by Education Experience) credit from the Society of Actuaries in the topic of Applied Statistics.
    Note: To receive credit for the subject from the Society of Actuaries, students will need a grade of B- or better.
    Cross-listed: MATH-405
  
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    ACSC 406 - Statistical Modeling II


    Credits: Three (3)
    Prerequisite: ACSC-405
    ACSC 406 and 407 cover the material on Examination C (Construction of Actuarial Models) of the Society of Actuaries.  The main topics in ACSC 406 include Construction of Empirical Models, Estimation of decrement probabilities from large samples, and Construction and Selection of Parametric Models.
    Cross-listed: MATH-406
  
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    ACSC 407 - Credibility and Simulation


    Credits: Three (3)
    Prerequisite: Advisor Approval
    The student is expected to identify steps in the modeling process.  This course, combined with ACSC 406, will cover all of the learning objectives contained in Examination C (Construction of Actuarial Models) of the Society of Actuaries.  At the conclusion of this course, students are expected to be able to: apply limited fluctuation (classical) credibility including criteria for both full and partial credibility; perform Bayesian analysis using both discrete and continuous models; apply Buhlmann and Buhlmann-Straub models and understand the relationship of these to the Bayesian model; apply conjugate prior distributions in Bayesian analysis (in particular the Poisson-gamma Model); apply empirical Bayesian methods in the nonparametric and semi-parametric cases; simulate both discrete and continuous random variables using the inversion method; estimate the number of simulations needed to obtain an estimate with a given error and a given degree of confidence; use simulation to determine the p-value for a hypothesis test; use the bootstrap method to estimate the mean squared error of an estimator; and apply simulation methods within the context of actuarial models.
  
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    ACSC 410 - Enterprise Risk Management


    Credits: Three (3)
    “Introduction to Enterprise Risk Management” is designed for students (a) who have taken ACSC 416 (Corporate Finance) or (b) are senior actsci majors.  Content is from the ERM text covered in the FAP syllabus of the SOA, the first time an aspiring actuary studies ERM.  The course also includes guest lecturers, small group projects, and a capstone class project selected by the students.
  
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    ACSC 411 - Derivative Market


    Credits: Three (3)
    Prerequisite: Advisor Approval
    The course covers the theoretical basis of certain actuarial models and the application of those models to insurance and other financial risks. Topics include interest rate models, rational valuation of derivative securities, simulation, and risk management techniques. A thorough knowledge of calculus, probability, and interest theory is assumed. Basic knowledge of risk management is also assumed.  This course covers many of the learning objectives contained in Examination MFE (Models for Financial Economics) of the Society of Actuaries.
  
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    ACSC 412 - Predictive Modeling


    Credits: Three (3)
    Prerequisite: MATH 370 or ACSC 370
    MATH 371 or ACSC 371
    MATH 372 or ACSC 372

    Statistical modeling are a powerful (and critical) tool for the next generation of actuarial scientists, as well as professionals working in other fields that deal with large amounts of data (e.g. health care, bioinformatics, biotechnology and chemical engineering). Many disciplines have developed tools that create massive amounts of data; the ability to use statistical modeling to analyze this data is in high demand. This course will prepare students with the fundamental statistical techniques and real life examples. Generalized linear model will be the main focus, but advanced models, such as CART and data clustering, will be discussed as well. Students will gain a thorough understanding of predictive modeling and its applications (in particular in the field of insurance), and will be well prepared for professional work.
  
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    ACSC 413 - Topics in Actuarial Science


    Credits: Three (3)
    “Topics in Actuarial Science” is intended to be ongoing, and taught every semester.  Students can take this one-credit course multiple times for credit; initially up to two times.  The course is open to actuarial science majors who are sophomores and above.  The course will be a combination of guest lecturers (drawn from industry and professional leaders from around the country) and discussions led by me.  Additionally, each student will be asked to participate in one group project.
    Cross-listed: ACSC 213
  
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    ACSC 414 - Theory of Interest


    Credits: Three (3)
    Prerequisite: MATH-251, Minimum grade C-
    This course covers the mathematical theory of compound interest with applications in investments. Topic includes accumulation of interest in discrete and continuous time, nominal and effective interest, present and future values and annuities.  ACSC 414 and ACSC 415 cover all of the learning objectives contained in Examination FM (Financial Mathematics) of the Society of Actuaries.
  
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    ACSC 415 - Financial Mathematics I


    Credits: Three (3)
    Prerequisite: ACSC-414
    This course covers the mathematical theory of compound interest with applications to investments and corporate finance. Topics include accumulation of interest in discrete and continuous time, nominal and effective interest, present and future values, annuities and variable cash flows, loans, valuation of stocks, bonds and other securities, and the assessment of corporate financial performance using standard financial models. ACSC 414 and ACSC 415 cover all of the learning objectives contained in Examination FM (Financial Mathematics) of the Society of Actuaries.
  
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    ACSC 416 - Financial Mathematics II


    Credits: Three (3)
    Prerequisite: ACSC-414
    This course introduces the student to the theory and practice of Corporate Finance.  Topics include definitions of key financing terms and concepts; dividend policy; impact of financing policies on capital structure; characteristics and definitions of key financing instruments; structure and financing of a stock company; calculation of stock values; and measures and assessment of financial performance. Students who receive a B- or higher in this course are eligible to receive VEE (Validation by Education Experience) credit from the Society of Actuaries in the topic of Corporate Finance.
  
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    ACSC 416H - Financial Mathematics II


    Credits: Four (4)
    Prerequisite: ACSC-414; Honors status
    Cross-listed: ACSC-416, ACSC-414H
  
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    ACSC 421 - Actuarial Modeling I


    Credits: Three (3)
    Prerequisite: ACSC-371, and ACSC-414
    This course is the first of two courses in actuarial modeling, designed to develop students’ knowledge in the theoretical basis of actuarial models and the application of those models to insurance and other financial risks. Topics include survival models, life tables, mortality rates, life insurance, life annuities, benefit premiums, and benefit reserves. ACSC 421 and ACSC 422 cover all of the learning objectives contained in Examination MLC (Models for Life Contingencies) of the Society of Actuaries.
  
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    ACSC 422 - Actuarial Modeling II


    Credits: Three (3)
    Prerequisite: ACSC-421, Minimum grade C-
    his course is the second of two courses in actuarial modeling designed to develop the student’s knowledge in the theoretical basis of actuarial models and the application of those models to insurance and other financial risks. Topics include analysis of benefits reserves, multiple life functions, multiple decrement models, frequency and severity models, compound distribution models, Poisson process models, insurance models including expenses and Markov chain models. ACSC 421 and ACSC 422 cover all of the learning objectives contained in Examination MLC (Models for Life Contingencies) of the Society of Actuaries.
  
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    ACSC 493 - Cooperative Education


    Credits: One (1) to Four (4)
    Cooperative education courses may be taken before a students major, minor and General Education requirements are completed, but they are not counted as part of those requirements.
    Note: .
    Cross-listed: MATH-293, MATH-393, ACSC-293
  
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    ACSC 495 - Acturaial Seminar II


    Credits: Three (3)
    Prerequisite: ACSC-415
    The primary objective of this course is to prepare students to pass Society of Actuaries Examination FM (Financial Mathematics).  Students will learn techniques to calculate various rates of interest, present values, future values and options. Students will understand key procedures of financial mathematics including annuity, amortization schedules, bonds and options. 
    Note: This course is for actuarial science majors only.
  
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    ACSC 496 - Acturaial Seminar III


    Credits: Three (3)
    Prerequisite: Pass exam P, exam FM
    Actuarial Seminar III for exam MLC
  
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    ACSC 497 - Acturaial Seminar IV


    Credits: Three (3)
    Prerequisite: Pass exam P, exam FM
    Actuarial Seminar IV for exam C
  
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    ACSC 505 - Statistical Modeling I (VEE)


    Credits: Three (3)
    Prerequisite: ACSC-371 or MATH-371, Minimum grade C
    The objective of this course is to provide students with the foundations in advanced statistical and stochastic modeling. This course covers:  evaluating data for estimation and goodness-of-fit models; least squares estimates of parameters; single and multiple linear regression; hypothesis testing; confidence intervals in linear regression models; testing of models; data analysis and appropriateness of models; linear time series models; moving average, autoregressive and/or ARIMA models; estimation; data analysis and forecasting with time series models; forecast errors and confidence intervals. A presentation of one project is required for the course.
    Note: Students who receive a B- or higher in this course are eligible to receive VEE (Validation by Education Experience) credit from the Society of Actuaries in the topic of Applied Statistics.
  
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    ACSC 506 - Statistical Modeling II


    Credits: Three (3)
    Prerequisite: ACSC-505
    This course covers the materials on the professional actuarial exam C (it was exam 4). Topic includes Construction of Empirical Models, Estimate failure time and loss distributions using Kaplan-Meier estimator, including approximations for large data sets, Nelson-Aalen estimator. Kernel density estimators, Estimate the variance of estimators and confidence intervals for failure time and loss distributions, Estimate failure time and loss distributions with the Cox proportional hazards model and other basic models with covariates. The course will also cover the topics, Unbiasedness, Consistency, Mean squared error, Estimate the parameters of failure time and loss distributions using, Maximum likelihood, Method of moments, Percentile matching, Bayesian procedures, Estimate the parameters of failure time and loss distributions with censored and/or truncated data. A presentation of one project is required for the course.
    Note: This course covers a part of Actuarial Exam C.
  
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    ACSC 510 - Risk Theory


    Credits: Three (3)
    Prerequisite: ACSC-521
    This course introduces the students to risk theory as it applies, under specified assumptions, to insurance. Topics include individual and collective risk models for single and extended periods, expense loaded premiums, liabilities and asset shares, Markov chains.
  
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    ACSC 512 - Predictive Modeling


    Credits: Three (3)
    Prerequisite: MATH-370, MATH-371, and MATH-372
    Statistical modeling will be a powerful (and
    critical) tool for the next generation of
    actuarial scientists, as well as professionals
    working in other fields that deal with large
    amounts of data (e.g. health care,
    bioinformatics, biotechnology and chemical
    engineering).. Many disciplines have developed
    tools that allow the generation of massive
    amounts of data, and the ability to use
    statistical modeling to analyze this data is in
    high demand. This course will prepare students
    with the fundamental statistical techniques and
    real life examples. Generalized linear model will
    be the main focus, but advanced models, such as
    CART and data clustering, will be discussed as
    well. Students will gain a thorough understanding
    of predictive modeling and its applications (in
    particular in the field of insurance), and will
    be well prepared for professional work.
  
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    ACSC 514 - Theory of Interest


    Credits: Three (3)
    Prerequisite: MATH-251, Permission of Program Director
    This course covers the mathematical theory of compound interest with applications to investments. Topics include accumulation of interest in discrete and continuous time, nominal and effective interest, present and future values, and annuities. This course, along with Financial Mathematics I, will cover all of the topics mentioned in the most recent Basic Education Catalog of Society of Actuaries under Exam FM Learning Objectives. A presentation of one project is required for the course.
    Note: This course is for graduate students only.
  
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    ACSC 515 - Financial Mathematics I


    Credits: Three (3)
    Prerequisite: ACSC-514, ACSC Graduate students only
    This course covers the mathematical theory of compound interest with applications to investments and corporate finance. Topics include accumulation of interest in discrete and continuous time, nominal and effective interest, present and future values, annuities and variable cash flows, loans, valuation of stocks, bonds and other securities, and the assessment of corporate financial performance using standard financial models. A presentation of one project is required for the course.
    Note: This course is for graduate students only.
  
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    ACSC 516 - Financial Mathematics II


    Credits: Three (3)
    Prerequisite: ACSC-514 and ACSC Graduate student
    This course covers financial theory, with emphasis on mathematical models, topics include the value of common stocks, risk and return, portfolio theory, capital budgeting issues, capital structure, strategic long-term financing decisions, financial statement ratio analysis and the valuation of options including the Black-Scholes formula. A project on portfolio design and analysis is required for the course. Students who get a grade of B- or better will receive credit for Corporate Finance from the Society of Actuaries. A presentation of one project is required for the course.
    Note: This course is for graduate students only.
  
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    ACSC 521 - Actuarial Modeling I


    Credits: Three (3)
    Prerequisite: ACSC-371, ACSC-414, and Permission of the Program Director
    This course is the first part of the sequential courses in actuarial modeling to develop the student’s knowledge of the theoretical basis of actuarial models and the application of those models to insurance and other financial risks. Topics include survival models, life tables, mortality rates, life insurance, life annuities, benefit premiums, and benefit reserves. A presentation of one project is required for the course.
    Note: This course covers a part of Actuarial Exam MLC.
  
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    ACSC 522 - Actuarial Modeling II


    Credits: Three (3)
    Prerequisite: ACSC-521
    This course is the second part of the sequential courses in actuarial modeling to develop the student’s knowledge of the theoretical basis of actuarial models and the application of those models to insurance and other financial risks. Topics include analysis of benefits reserves, multiple life functions, multiple decrement models, frequency and severity models, compound distribution models, Poisson process models, insurance models including expenses and Markov chain models. A project on the above topics and presentation is required for the course. A presentation of one project is required for the course.
    Note: This course covers a part of Actuarial Exam MLC.
  
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    ACSC 572 - Mathematical Statistics III


    Credits: Three (3)
    Prerequisite: Permission of Program Director, ACSC Graduate students only
    Topics include classical basic concepts of inference, inference for single samples, inference for two samples, inferences for proportion, simple linear regression and advance estimation methods including Moment, Maximum Likelihood, and Bayesian Estimation. This course is calculus-based. A presentation of one project is required for the course.
    Note: This course is for graduate students only.
    Cross-listed: MATH-372
  
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    ACSC 593 - Cooperative Education


    Credits: One (1) to Six (6)
    This course will be offered with the Career Education Office. Students are expected to report to the advisor the experience they gain from the internship. The final written project about the internship experience is required.
  
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    ACSC 594 - Acturaial Seminar I


    Credits: Three (3)
    Prerequisite: ACSC-371 or MATH-371 or concurrent with ACSC-371/MATH-371; and Permission of Program Director
    The primary objective of this course is to prepare students to pass Society of Actuaries Examination P (Probability).  Students should be able to solve problems involving the rules of differential and integral calculus for one and several variables, normal distribution with its application, joint and marginal distributions, and univariate and multivariate probability distributions.  A presentation of one project is required for the course. This course is for actuarial science majors and graduate students only.
  
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    ACSC 595 - Acturaial Seminar II


    Credits: Three (3)
    Prerequisite: ACSC-515 and Permission of the Program Director
    The primary objective of this course is to prepare students to pass Society of Actuaries Examination FM (Financial Mathematics).  Students will learn the techniques to calculate various rates of interest, present value, future value and options. Students will understand key procedures of financial mathematics including annuity, amortization schedules, bonds and options.  A presentation of one project is required for the course. This course is for actuarial science majors and graduate students only.
  
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    ACSC 597 - Thesis/Research


    Credits: One (1) to Four (4)
    Prerequisite: Permission of adviser
  
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    ACSC 607 - Credibility and Simulation


    Credits: Three (3)
    Prerequisite: ACSC-506 or MATH-506 (previous or concurrent enrollment allowed)
    The student is expected to identify steps in the modeling process.  This course, combined with ACSC 406, will cover all of the learning objectives contained in Examination C (Construction of Actuarial Models) of the Society of Actuaries.  At the conclusion of this course, students are expected to be able to: apply limited fluctuation (classical) credibility including criteria for both full and partial credibility; perform Bayesian analysis using both discrete and continuous models; apply Buhlmann and Buhlmann-Straub models and understand the relationship of these to the Bayesian model; apply conjugate prior distributions in Bayesian analysis (in particular the Poisson-gamma Model); apply empirical Bayesian methods in the nonparametric and semi-parametric cases; simulate both discrete and continuous random variables using the inversion method; estimate the number of simulations needed to obtain an estimate with a given error and a given degree of confidence; use simulation to determine the p-value for a hypothesis test; use the bootstrap method to estimate the mean squared error of an estimator; and apply simulation methods within the context of actuarial models.
  
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    ACSC 610 - Enterprise Risk Mgmt Exam


    Credits: Three (3)
    Prerequisite: Exam P or Exam FM or ACSC-522
    This course covers part of the syllabus of the Enterprise Risk Management examination offered by the Society of Actuaries. The course defines and categorizes different types of risks an entity faces, and defines an ERM framework. Ways to measure and quantify the risk, such as (principle based) Economic Capital, Value at Risk (VaR), and stress scenarios are analyzed and compared. The course concludes with applications of these methods in a case study of an insurance company and recent regulatory developments such as ORSA (Own risk solvency assessment).

     

  
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    ACSC 611 - Derivative Market


    Credits: Three (3)
    Prerequisite: ACSC-610
    The course covers the theoretical basis of certain actuarial models and the application of those models to insurance and other financial risks. The topics include interest rate models, rational valuation of derivative securities, simulation, and risk management techniques. A thorough knowledge of calculus, probability, and interest theory is assumed. Basic knowledge of risk management is also assumed. One presentation will be needed for this course.
  
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    ACSC 693 - Cooperative Education


    Credits: Three (3)
    This course will be offered with the Career Education Office. Students are expected to report to the advisor the experience they gain from the internship. The final written project about the internship experience is required.

    Maximum cooperative education credits is 6 for major.

 

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