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Actuarial Science

Including this minor into your program is more than just expanding your horizon. It can also serve as an excellent preparation for a career that fits your quantitative grounding, in particular, a career as a quantitative risk manager or actuary.

What will you learn in this minor?

You will acquire an advanced analytical framework which enables you to analyse complex economic processes involving risk from a quantitative perspective. Quantitative risk modelling, statistical and empirical evaluation, and optimisation are at the core of this minor program. This minor program enables you to develop skills to deal with complex and risky economic problems.

The 60 EC minor in combination with a BSc in Econometrics, Mathematics, Physics, Informatics and Computer Sciences or an equivalent quantitative BSc program, gives you access to  the Master’s programme Actuarial Science and Mathematical Finance.


The minor can be taken as a 30 or a 60 EC programme.  For both options you have follow these compulsory course:

  • Life Insurance Mathematics (6 EC)
  • Probability Theory and Statistics 3 (6 EC)*

* if you have already taken this course on an equivalent, you may substitute it with one of the other mandatory electives.

You supplement these courses with either 18 EC or 48 EC in restrictive-choice electives.

  • Mathematical and Empirical Finance
  • Optimization
  • Econometrics 1
  • Financial Accounting in Life Insurance
  • Research Seminar Actuarial Science and Mathematical Finance
  • Econometrics 2
  • Risk Theory
  • Stochastic Models in Life Insurance

You can find the programme and detailed course descriptions of the current academic year in the Course Catalogue. Please note that the content of the courses may be subject to change. The new course catalogue containing the final programme will be published in the beginning of June.

Entry requirements

  • This minor is only open for students with sufficient background in statistics and mathematics.  It is intended for Bachelor students from a research university in Econometrics, Mathematics, Physics, Information Science or a BSc of a Technical University.
  • You need to have successfully completed your first-year (60 EC).
  • No prior knowledge in Economics is required.
  • This minor is not open to students of Economics and Business.

Application and Admission

What do you need to apply?

All students: a short motivation to be copied in the application form

Non-UvA students: a signed and stamped transcript of grades. We understand that due to the corona crisis it might be difficult to provide us with a certified transcript. Therefore, as an exception, we will also accept non-certified transcripts for the minor applications. We rely on your integrity.

Please fll out the form that is applicable to you:

Form for UvA-students
Form for non-UvA students

To ensure timely registration, please take into account the following dates:

> For UvA- students: apply before 1 June 2020
> For non-UvA students: apply before 15 May 2020

You may apply after this date, but we cannot guarantee that we can assess you application in time before the course registration period.

More info and contact

For more general information about taking a minor, visit the student website about minors at UvA Economics and Business. Or you can contact the Education Desk.

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