December 6, 2006

To: Academic Affairs Committee

From: Denise Wilson, Chair Graduate Curriculum Committee

Kimberly Nance, Associate Director of Graduate Studies

RE: Executive Summary – Actuarial Science Sequence within the Master of Science in Mathematics

This sequence is designed to serve students preparing for careers in actuarial science. The last five years increased demand in the marketplace for employees educated in relatively sophisticated areas of applications of mathematics in all types of financial markets and financial institutions. The Actuarial Program at Illinois State University is currently recognized by the two main U.S. professional actuarial organizations, the Society of Actuaries and the Casualty Actuarial Society.

No new resources will be required for this sequence as course coverage will be provided by existing faculty from the Department of Mathematics. Courses included in this sequence are already in place. Recognizing them as part of a formal sequence will make them more visible as students seek employment.