The University of Texas at Austin offers several minors and certificates that are pursued by many actuarial students to complement their actuarial education. Students interested in pursuing these minors and certificates should talk to potential employers, their academic advisors, and those offering minor/certificate.
Business Minor
Actuaries are fundamentally business professionals, and their business skills are just as important to a successful career as a strong math background. Completing the Business Minor offered by the McCombs School of Business gives students valuable exposure to fundamental business concepts like accounting and management. Most students choose to take the following coursework to complete the minor:
- ACC 310F - Foundations of Accounting (Required by actuarial degree)
- FIN 320F - Foundations of Finance (Required by actuarial degree)
- MIS 302F - Foundations of Management Information Systems (Satisfied by CS 303E actuarial degree requirement)
- LEB 320F - Foundations of Business Law
- MAN 320F - Foundations of Management
- MKT 320F - Foundations of Marketing
For more information on the minor and required coursework, visit the program website:
https://www.mccombs.utexas.edu/Business-Foundations/Business-Minor
Communication and Society: Science Communication Minor
This minor is designed to help prepare students with undergraduate studies in a sciences-related field to effectively communicate science topics to a variety of audiences by utilizing professional communication techniques and tools. Students will gain an understanding of contemporary communication issues that may impact their field, and gain advanced skills to enhance their communication with the public, whether through traditional media, new media, or in person.
For more information on the minor and required coursework, visit the program website: https://moody.utexas.edu/students/minors/minor-science-communication-0
Economics Minor
Actuarial students who want a broader perspective of the economy may be interested in this option. Completing a minor in economics exposes students to deeper economics concepts without an actuarial or insurance focused lens. Economics coursework overlaps slightly with actuarial degree requirements. Students completing the actuarial science option usually need 6-9 hours of additional coursework to complete the minor.
For more information on the minor and required coursework, visit the program website:
https://liberalarts.utexas.edu/economics/undergraduate-program/degree-requirements/minoring-in-economics.html
Risk Management Certificate/Minor
The Risk Management Certificate/Minor complements an actuarial degree by introducing students to insurance language and products. One of the most common areas of employment for actuaries is insurance, so exposure to these concepts before entering the workforce can be extremely valuable. Most actuarial students only need two additional courses outside of the required curriculum to complete the certificate. Below is an example of courses an actuarial student might take to earn the Risk Management Certificate/Minor:
- RM 357E - Introduction to Risk Management
- RM 377 - Property-Liability Risk Management and Planning
- ACC 310F - Foundations of Accounting (Required by actuarial degree)
- FIN 320F - Foundations of Finance (Required by actuarial degree)
- M 339D - Introduction to Financial Mathematics for Actuaries (Required by actuarial degree)
- M 339J - Probability Models with Actuarial Applications (Required by actuarial degree)
For more information on the certificate and required coursework, visit the program website:
https://www.mccombs.utexas.edu/Departments/IROM/Risk%20Management%20Certificate
Elements of Computing Certificate
Actuaries are more reliant on programming and computer fluency than ever before. Some actuarial employers prefer candidates who have strong programming skills. The Elements of Computing Certificate is a good way for dedicated students to develop these skills while completing their actuarial coursework. This 18-hour certificate may be more intense than the other options discussed above, therefore students should work with their advisors early on to develop the best plan for their needs.
For more information on the certificate and required coursework, visit the program website:
https://www.cs.utexas.edu/undergraduate-program/academics/elements-computing