Overview
The Statistics and Actuarial Science graduate programs at the Department of Statistics and Actuarial Science are designed to cultivate advanced expertise in the mathematical and statistical principles that underpin risk assessment, data analysis, and decision-making in uncertain environments. Our graduate programs offer a rigorous curriculum that balances theoretical knowledge with practical applications, preparing students to tackle complex challenges in industries such as academia, finance, insurance, healthcare, and government. Students will engage in in-depth studies of topics such as probability theory, statistical inference, stochastic processes, and actuarial modeling, gaining the skills necessary to excel in both academic and professional settings. The programs emphasize the development of strong analytical abilities, critical thinking, and the use of sophisticated statistical tools and software.
In addition to coursework, our graduate programs provide opportunities for research, collaboration with faculty on cutting-edge projects, and internships that offer real-world experience. Graduates are well-prepared to pursue careers as actuaries, data scientists, statisticians, or to continue their academic journey with doctoral studies. Whether you aim to advance in your current field or explore new opportunities, our graduate programs in Statistics and Actuarial Science offer a pathway to success.
Aims & Objectives
The aim of the Statistics and Actuarial Science graduate program is to equip students with advanced knowledge and skills in statistical theory and actuarial science. The program is designed to prepare graduates for leadership roles in academia, industry, and government by providing a deep understanding of risk management, data analysis, and the mathematical principles that underpin decision-making in uncertain environments. Students will be trained to tackle complex challenges, conduct rigorous research, and contribute to the advancement of statistical and actuarial practices.
By the end of the program, students will be able to:
- Master Core Principles: Demonstrate a comprehensive understanding of advanced statistical methods, probability theory, and actuarial models, including their theoretical foundations and practical applications.
- Develop Analytical Expertise: Apply advanced analytical techniques to solve complex problems in fields such as finance, insurance, healthcare, and government, using statistical software and tools.
- Conduct Independent Research: Design and execute independent research projects, contributing original knowledge to the field of statistics and actuarial science, and effectively communicating findings through academic writing and presentations.
- Apply Actuarial Techniques: Utilize actuarial methods to assess, model, and manage financial risks, ensuring the sustainability and profitability of organizations in the face of uncertainty.
- Interpret and Communicate Results: Clearly interpret and communicate complex statistical and actuarial analyses to diverse audiences, including technical experts, policymakers, and non-experts.
- Ethical and Professional Standards: Adhere to the highest ethical and professional standards in the practice of statistics and actuarial science, including issues related to data privacy, risk management, and the societal impact of statistical decision-making.
- Engage in Lifelong Learning: Stay informed of emerging trends and developments in the fields of statistics and actuarial science, and engage in continuous professional development to remain at the forefront of the discipline.
- Collaborate Across Disciplines: Work effectively in multidisciplinary teams, applying statistical and actuarial expertise to address complex problems in a variety of contexts, and contributing to the advancement of knowledge across related fields.
Entry Requirement
Master of Philosophy in Statistics (MPhil. Statistics):
A bachelor’s degree with a minimum GPA of 2.00 in Statistics, Mathematics, Actuarial Science or any quantitative related course from an accredited university.
The MPhil program lasts two years, with the first year focused on coursework and the second year dedicated to research (thesis).
Master of Science in Actuarial Science/ Applied Statistics (MSc. Actuarial Science or MSc. Applied Statistics):
A bachelor’s degree with a minimum GPA of 2.00 or equivalent in relevant field of study such as Mathematics, Statistics, Finance, Economics, Actuarial Science, Engineering Accounting, Physics or any quantitative related course from an accredited university.
The MSc. programme is for a duration of one year and operates on a fee-paying basis. It offers both evening and weekend sessions.
Doctor of Philosophy Programme in Statistics (PhD. Statistics):
A Master's degree in Mathematics, Statistics, Actuarial Science or any quantitative related course from an accredited university.
The PhD programme is fee-paying and scheduled as follows:
- Regular - Four (4) years
- Part-Time - Six (6) years