Mathematics Actuarial Science and Statistics University of Southampton

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Mathematics, Actuarial Science and Statistics University of Southampton Dr Sujit Sahu School of Mathematics

Mathematics, Actuarial Science and Statistics University of Southampton Dr Sujit Sahu School of Mathematics

School of Mathematics • Large student centred school • Expertise across mathematical physics, applied

School of Mathematics • Large student centred school • Expertise across mathematical physics, applied mathematics, operational research, pure mathematics and statistics • Active links with business, industry, science and technology • A centre for interdisciplinary research and teaching • Large graduate school with three thriving MSc programmes and many research students 2

Mathematics students • 550 MMath & BSc students • 85 MSc students • 48

Mathematics students • 550 MMath & BSc students • 85 MSc students • 48 Ph. D students 3

Teaching & Assessment • Lectures • Tutorials • Supervisions • Computing Labs • Consolidation

Teaching & Assessment • Lectures • Tutorials • Supervisions • Computing Labs • Consolidation Class • Private study • Exams • Coursework • Projects • Presentations • In-class tests 4

Course structure Topology Hyperbolic Geometry Simulation and Queues Mathematical Programming Design and Analysis of

Course structure Topology Hyperbolic Geometry Simulation and Queues Mathematical Programming Design and Analysis of Experiments Algebra Number Theory and Cryptography Analysis Relativity, Black Holes and Cosmology Calculus Differential Equations Gravitational Waves Geometry Mathematical Modelling Metric Spaces Probability and Statistics Applications of Mathematics in Biology Mathematical Finance Rings and Fields Optimization Differential Geometry and its Applications Complex Function Theory Groups and Symmetry 5

Programmes of Study • Single Honours: • Mathematics for Arts: – BSc: Mathematics –

Programmes of Study • Single Honours: • Mathematics for Arts: – BSc: Mathematics – Mathematics with Music – MMath: Mathematics – Mathematics and French, German, Spanish – BSc: Mathematical Studies • Mathematics for Business: – Mathematics with: • Mathematics for Science: – Actuarial Science, Economics, Finance – Mathematics with: – Management Sciences, Statistics, – Astronomy, Biology – Operational Research, Computer Science– Physics, Computer Science 6

Some money making ideas with Mathematics • Google search • Linear Algebra • Pricing

Some money making ideas with Mathematics • Google search • Linear Algebra • Pricing financial options • Differential Equations • i. Pod and MP 3 • Analysis • “Green logistics” • Formula 1 pit stop strategies • Financial Portfolios • Encryption of credit cards • Airline pricing • Operational Research • Optimization • Statistics • Number Theory • Linear Programming

Mathematics with Actuarial Science • Our most popular programme! • Lets learn a bit

Mathematics with Actuarial Science • Our most popular programme! • Lets learn a bit more about it!

Actuarial Science Why choose Mathematics with Actuarial Science? • Actuarial Studies focus on the

Actuarial Science Why choose Mathematics with Actuarial Science? • Actuarial Studies focus on the study of Mathematics and Statistics integrated with: • Economics, • Finance, • Demography and • Actuarial Science • For most people the excellent career prospects are the main reason for choosing Mathematics + Actuarial Science

EXAMPLES OF ACTUARIAL SCIENCE QUESTIONS • Mr Patel is 65 and had a heart

EXAMPLES OF ACTUARIAL SCIENCE QUESTIONS • Mr Patel is 65 and had a heart attack 3 years ago – how much should his travel insurance to the USA for 2 weeks cost? • How many children in India will require elementary schooling in 2015? • Could health insurance for my pet cat be included free as part of my house insurance? • How much will it cost if it rains at the Olympics in 2012? • How much funding should the Indian Government put aside for building new roads for the next 10 years?

TEST YOURSELVES……. . • Should health insurance be cheaper or more expensive for smokers?

TEST YOURSELVES……. . • Should health insurance be cheaper or more expensive for smokers? MUCH CHEAPER • How old do you have to be to have a 50% chance of dying in the next 6 months? 103 • If you are 80 what chance do you have of living until 81? 97%

How much do Actuaries earn? • Lots! • Typical Actuarial salaries start at about

How much do Actuaries earn? • Lots! • Typical Actuarial salaries start at about £ 60, 000 (Rs 48 Lakh) • Many Actuaries earn well over £ 150, 000 (Rs 1. 2 Crore!) • The profession is very carefully regulated • It also has a high professional profile • And high professional standards • -Actuaries are needed worldwide

Does India need more Actuaries? • There about 6000 professional actuaries for 6 crore

Does India need more Actuaries? • There about 6000 professional actuaries for 6 crore UK citizens. • There about 100 crore Indians. How many actuaries are needed? • See an article in rediff. com: For a 7 -figure salary, be an actuary • Many banks such as HSBC will pay very highly to Southampton graduates. • Southampton is a brand name!

Top ten subjects studied by new entrants to the Actuarial profession in 2004 -7

Top ten subjects studied by new entrants to the Actuarial profession in 2004 -7 Mathematics 350 Actuarial Science 198 Mathematics and other 89 Mathematics and Statistics 53 Economics 43 Statistics 29 Physics 31 Actuarial Maths and Statistics 30 Actuarial Science and Statistics 26 Mathematical Science 23

How does the system of exemptions work? • One of the major attractions of

How does the system of exemptions work? • One of the major attractions of a Mathematics with Actuarial Science programme is the “exemptions” • The professional examinations to become a fully-qualified Actuary are long and difficult • If a degree programme grants exemptions from some of these then it may be possible to qualify as an Actuary much quicker than normal • A Southampton Maths with Actuarial Science graduate can earn the maximum number of exemptions!

Exemptions from Actuarial Professional Examinations The new examination structure consists of: • 8 exams

Exemptions from Actuarial Professional Examinations The new examination structure consists of: • 8 exams at Core Technical stage (CT 1 to CT 8) • 3 exams at Core Applications stage (CA 1 to CA 3) • 2 exams at Specialist Technical stage (2 from ST 1 to ST 6) • 1 exam at Specialist Application stage (1 from SA 1 to SA 6) A total of 14 examinations must therefore be passed to qualify as an Actuary. Exemption from some of the Specialist exams by undertaking a course of study or a research dissertation as an alternative is now possible.

Actuarial Professional Examinations: CT stage CT 1 Financial Mathematics CT 2 Finance and Financial

Actuarial Professional Examinations: CT stage CT 1 Financial Mathematics CT 2 Finance and Financial Reporting CT 3 Probability and Mathematical Statistics CT 4 Models CT 5 Contingencies CT 6 Statistical Methods CT 7 Economics CT 8 Financial Economics

Agreement with the Io. A It has been agreed with the Institute of Actuaries

Agreement with the Io. A It has been agreed with the Institute of Actuaries that students achieving a suitable performance in certain units will get an exemption from the corresponding subject in the professional examinations. A maximum of 8 exemptions out of the 8 CT stage units is possible THE SOUTHAMPTON PROGRAMME OFFERS ALL 8 EXEMPTIONS This means that after completing our programme you would be over half way to qualifying as an actuary

What about Statistics? history. “All knowledge is, in final analysis, All sciences are, in

What about Statistics? history. “All knowledge is, in final analysis, All sciences are, in the abstract, mathematics. All judgements are in, in their rationale, statistics. ” Prof C. R. Rao

What is Statistics? • Statistics is the scientific application of mathematical principles to the

What is Statistics? • Statistics is the scientific application of mathematical principles to the collection, analysis, and presentation of numerical data, and the interpretation of the results. • Statisticians provide crucial guidance in determining what information is reliable and which predictions can be trusted. They often help search for clues to the solution of a scientific mystery and sometimes keep investigators from being misled by false impressions. • Many economic, social, political, and military decisions cannot be made without statistical techniques, such as the design of experiments to gain government approval of a newly manufactured drug.

What Do Statisticians Do? v Produce trustworthy data v Analyse data to make their

What Do Statisticians Do? v Produce trustworthy data v Analyse data to make their meaning clear v Draw practical conclusions from data v. Principles of 4 -R’s: Reading, w. Riting, a. Rithmetic and v “Reasoning under Uncertainty”

Job Characteristics • Use data to solve problems in a wide variety of fields

Job Characteristics • Use data to solve problems in a wide variety of fields • Apply mathematical and statistical knowledge to social, economic, medical, political, and ecological problems • Work individually and/or as part of an interdisciplinary team • Travel to consult with other professionals or attend conferences, seminars, and continuing education activities • Advance the frontiers of statistics, mathematics, and probability through education and research • If you enjoy any of these, a career in statistics may be right for you!

Examples of Statistics Careers v Medicine Search for improved medical treatments based on carefully

Examples of Statistics Careers v Medicine Search for improved medical treatments based on carefully designed experiments. v Environment Produce data on the abundance and location of plants and animals, on the spread of pollution from its sources, and on the possible effects of changes in human activities. v Industry Maintain quality of goods and services and the efficiency with which they are produced and delivered. v Government Surveys How many people are unemployed this month? What do we export to China, and what do we import? Are rates of violent crime increasing or decreasing?

What do I do as a Statistician? • Sulfate pollution map of the Eastern

What do I do as a Statistician? • Sulfate pollution map of the Eastern US in 2001

Annual map for the North Atlantic Ocean

Annual map for the North Atlantic Ocean

Scholarships and Bursaries Golden Jubilee Scholarships • Two scholarships comprising the full value of

Scholarships and Bursaries Golden Jubilee Scholarships • Two scholarships comprising the full value of tuition fees for the normal duration of study in the School of Mathematics. School Scholarships • Scholarships of up to £ 5, 000 per annum will be awarded automatically to any international student who is accepted on an undergraduate Golden Jubilee degree programme. These scholarships will be Scholar awarded on the basis of examination Pradeep Subedi (06 performance: more than 80% in XII exams. 09)

What happens to our graduates?

What happens to our graduates?

Mean Starting Salaries in Mathematics Southampton £ 21, 948 Russell Group £ 20, 688

Mean Starting Salaries in Mathematics Southampton £ 21, 948 Russell Group £ 20, 688 Others £ 18, 481 * Source: HESA 2006 & Soton data

Southampton Mathematics nd Department is 2 in the Country for graduate employment 6 months

Southampton Mathematics nd Department is 2 in the Country for graduate employment 6 months after graduation. (Better than Bristol, Cambridge, Durham, Edinburgh, Imperial, Nottingham, Oxford and Warwick) www. unistats. com (2008)

Destinations Academia, Accountancy, Actuarial, Aircraft Design, Banking, Brokerage, City Quant, Crime Analysis, Computer Game

Destinations Academia, Accountancy, Actuarial, Aircraft Design, Banking, Brokerage, City Quant, Crime Analysis, Computer Game Design, Financial Analysis, Fusion Research, (ex-) Home Secretary , IT, Logistics, Management Consultancy, Marketing, Medical Research, Merchant Banking, Meteorology, Oceanography, Oil Industry, Pharmaceuticals, , Simulation, Statistician, Systems Security Service Analysis, Tax, Teaching, Transport Planner, Underwriter, Uranium production. .

What we offer • A student centred community • A caring staff, committed to

What we offer • A student centred community • A caring staff, committed to teaching and sustaining an active learning environment • An international research programme inspiring a leading edge curriculum • An extremely broad undergraduate curriculum, feeding into a range of postgraduate opportunities • A track record of success in graduate employment and training