About the Program
Program Objectives
The MSc in Actuarial Science programme is designed to:
• Equip students with theoretical and practical knowledge, develop and apply techniques of mathematics, statistics, probability and finance to solving real business problems.
• Provide high quality training in Actuarial Science.
• Provide an opportunity for research in Actuarial Science and development of Actuarial products.
• Provide an opportunity to students from other disciplines to pursue training in Actuarial Science.
Admission Requirements
To be eligible for registration for Master of Science (MSc.) programme in Actuarial Science;
• Common regulations for the Master degree in Maseno University and all schools and institutes shall apply.
• Candidates must have taken Actuarial Science or Applied Statistics as a major subject in their Bachelor’s degree.
• Holders of a Bachelor’s degree of Maseno University in Actuarial Science, of at least Upper Second-Class Honours, or equivalent qualification from an institution recognized by the Senate.
• Holders of a Bachelor’s degree in Actuarial Science, of Lower Second Class Honours, of Maseno University, or an equivalent qualification from another institution recognized by Senate. In addition, a candidate must have at least two years relevant work experience.
• Holders of a Postgraduate Diploma in Actuarial Science of the Maseno University, of a minimum credit grade or an equivalent qualification from an institution recognized by Senate.
Duration of the Program
The Master of Science degree course in Actuarial Science shall cover a minimum duration of 4 semesters and a maximum duration of 8 semesters.
Degree Structure
The Master of Science degree course in Actuarial Science shall be offered by:
• Course work, supervised research project or thesis and examination.
• The courses are offered in units. A course unit is defined as a 3-hour lecture, a 6-hour tutorial or a 9-hour practical session per week per semester.
• One may opt for either a project or a thesis pathway
Mode of Delivery
Face-to-face
| Program Courses | ||
| Year 1 Semester 1 | ||
| MAC 811: | Advanced Financial & Investment Mathematics | C |
| MAC 812: | Advanced Actuarial Mathematics | C |
| MAC 813: | Advanced Risk Mathematics | C |
| MAC 814; | Advanced Financial Economics | C |
| MAC 818: | Stochastic Processes | E |
| MAC 819: | Linear Statistical Models | E |
| Year 1 Semester 2 | ||
| Thesis pathway | ||
| MAC 815: | MAC 815: Survival Analysis | E |
| MAC 816: | MAC 816: Corporate Finance and Investment | E |
| MAC 817: | MAC 817: Data Management and Analysis | C |
| MAC 821: | MAC 821: Life Insurance Mathematics | E |
| MAC 822: | MAC 822: Advanced Financial Modelling | E |
| MAC 899: | MAC 899: Thesis Research Proposal | C |
| Project pathway | ||
| MAC 815: | Survival Analysis | C |
| MAC 816: | Corporate Finance and Investment | C |
| MAC 817: | Data Management and Analysis | C |
| MAC 821: | Life Insurance Mathematics | E |
| MAC 822: | Advanced Financial Modelling | E |
| MAC 899: | Thesis Research Proposal | E |
| Year 2 Semester 1 | ||
| Project pathway | ||
| MAC 829: | Professional Issues in Actuarial Science | C |
| MAC 823: | MAC 823: Advanced Ruin Theory | E |
| MAC 824: | MAC 824: Pensions and Social Security | E |
| MAC 825: | MAC 825: The Actuarial Practice of General Insurance | E |
| MAC 826: | MAC 826: Health Care Financing | E |
| MAC 827: | MAC 827: Applied Statistical Demography | E |
| MAC 828: | MAC 828: Optimization and Decision Theory | E |
| MAC 898: | MAC 898: Project in Actuarial Science | C |
| Thesis pathway | ||
| MAC 899 | Thesis Research Proposal | C |
| Year 2 Semester 2 | ||
| Project pathway | ||
| MAC 898: | Project in Actuarial Science | C |
| Thesis pathway | ||
| MAC 899: | Thesis | C |