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BSc (Hons) Actuarial Science
Edinburgh
INTAKE: September
Program Overview
The BSc (Hons) Actuarial Science program at Heriot Watt University is designed to provide students with a comprehensive understanding of the principles and practices of actuarial science. Actuaries are professionals who use mathematical and statistical methods to assess risk and uncertainty in various industries, particularly in insurance and finance. This program equips students with the analytical, mathematical, and business skills required to pursue careers in actuarial science and related fields.
Curriculum: The curriculum covers a wide range of subjects, including mathematics, statistics, finance, economics, and business. Students learn to apply mathematical models and techniques to analyze and solve real-world problems in insurance, pensions, investment, and risk management. Core courses typically include probability theory, financial mathematics, life insurance mathematics, general insurance, and statistical methods. Additionally, students may have the opportunity to specialize in areas such as risk management, financial modeling, or predictive analytics.
Research Focus: Heriot Watt University has a strong focus on research in actuarial science and related areas. Faculty members are actively engaged in research projects that contribute to the advancement of actuarial knowledge and practice. Students may have the opportunity to participate in research activities, work on independent projects, or collaborate with faculty members on research initiatives. This exposure to cutting-edge research enhances students' analytical and problem-solving skills and prepares them for careers in both academia and industry.
Industry Engagement: The BSc (Hons) Actuarial Science program at Heriot Watt University emphasizes industry relevance and practical application. The university maintains close ties with leading companies in the insurance, finance, and actuarial sectors, providing students with opportunities for internships, placements, and industry projects. Guest lectures, seminars, and networking events enable students to interact with industry professionals and gain insights into current trends, challenges, and best practices. These industry connections enhance students' employability and ensure that the curriculum remains up-to-date with industry standards.
Global Perspective: Heriot Watt University has a diverse and international outlook, with campuses and partnerships around the world. The BSc (Hons) Actuarial Science program incorporates global perspectives on actuarial practice, considering the implications of different regulatory environments, economic conditions, and cultural factors on risk management and insurance markets. Students may have the opportunity to study abroad, participate in exchange programs, or engage with peers from diverse cultural backgrounds, gaining valuable insights into global business practices and enhancing their cross-cultural communication skills.
Location
Edinburgh
Score
IELTS 6.5
Tuition Fee
£ 22264
Undergraduate Entry Requirements
Academic Qualifications: Applicants should have successfully completed their secondary education with a minimum overall score of 70% or equivalent in their respective country's grading system.
English language proficiency:
- IELTS: A minimum overall score of 6.5 with no individual component below 5.5.
- TOEFL: A minimum overall score of 78, with at least 17 in Listening, Reading, Speaking, and Writing.
- PTE Academic: A minimum overall score of 54 with no individual score below 51.
- Some programs may have specific subject prerequisites or additional requirements.
Students must provide:
- academic marksheets & transcripts
- letters of recommendation
- a personal statement - SOP
- passport
- other supporting documents as required by the university.
It is important to note that meeting the minimum entry requirements does not guarantee admission, as the university considers factors such as availability of places and competition for the program. Additionally, some courses may have higher entry requirements or additional selection criteria, such as interviews or portfolio submissions.
Heriot Watt University offers a range of scholarships and financial aid options to support students in their academic pursuits. These scholarships are designed to recognize academic excellence, support specific fields of study, promote diversity, and assist students with financial need.
Heriot Watt Undergraduate Scholarships: Heriot Watt offers several undergraduate scholarships to both domestic and international students. These scholarships are awarded based on academic achievement, leadership potential, extracurricular involvement, and other criteria.
Heriot Watt Merit Scholarships: These scholarships are available to high-achieving students who have demonstrated outstanding academic performance in their previous studies.
Heriot Watt Academic Excellence Scholarships: These scholarships are awarded to exceptional students who have achieved outstanding grades in their academic qualifications.
Heriot Watt International Student Scholarships: These scholarships aim to support international students who are enrolling in undergraduate programs at Heriot-Watt University.
Heriot Watt Global Scholarships: These scholarships are open to international students and are based on academic merit and potential contribution to the university community.
It is important to note that the availability, eligibility criteria, and application deadlines for scholarships may vary each year.Heriot Watt University offers a range of scholarships to support undergraduate and postgraduate students in their academic journeys. These scholarships recognize excellence, support diversity, and assist students with financial need. Prospective students are encouraged to explore the various scholarship opportunities offered by Heriot Watt University and apply according to the specific eligibility criteria and application deadlines.
Graduates of the BSc (Hons) Actuarial Science program from Heriot Watt University possess a versatile skill set that equips them for diverse career opportunities in the fields of finance, insurance, risk management, and beyond.
Actuary: Actuaries play a crucial role in assessing and managing risk for insurance companies, pensions funds, and other financial institutions. They use mathematical models to analyze data and help organizations make informed decisions regarding pricing, investments, and risk mitigation strategies.
Insurance Underwriter: Insurance underwriters evaluate insurance applications, assess risk factors, and determine coverage terms and premiums. Graduates with a background in actuarial science have the analytical skills and knowledge of risk assessment needed for this role.
Risk Analyst: Risk analysts assess and manage various types of risk faced by organizations, including financial, operational, and regulatory risk. They use quantitative techniques and modeling tools to identify potential threats and develop strategies to mitigate them.
Investment Analyst: Investment analysts analyze financial data, market trends, and economic indicators to evaluate investment opportunities and make recommendations to clients or organizations. Actuarial science graduates are well-equipped to analyze the financial implications of investment decisions and assess risk-return trade-offs.
Pension Consultant: Pension consultants provide advice and assistance to companies and individuals regarding pension schemes, retirement planning, and employee benefits. Actuarial science graduates have the expertise to design and evaluate pension plans, assess funding requirements, and ensure compliance with regulatory standards.
Data Scientist: With their strong background in mathematics, statistics, and data analysis, actuarial science graduates are well-suited for roles in data science. They can leverage their skills to extract insights from large datasets, develop predictive models, and support decision-making processes in various industries.
Financial Planner: Financial planners help individuals and families manage their finances, achieve their financial goals, and plan for the future. Actuarial science graduates can provide valuable expertise in areas such as retirement planning, investment management, and risk assessment.
Consultant: Actuarial consultants work for consulting firms or as independent contractors, providing advisory services to clients in areas such as insurance, finance, and risk management. They may specialize in areas such as mergers and acquisitions, regulatory compliance, or enterprise risk management.
Risk Manager: Risk managers are responsible for identifying, assessing, and mitigating risks within organizations. They develop risk management strategies, implement control measures, and monitor compliance with risk policies and regulations.
Academic or Researcher: Some graduates may choose to pursue further studies or research careers in academia or research institutions, contributing to the advancement of actuarial science and related fields through teaching, research, and publications.
