The programme is unique in the UK, steering a middle way between degrees in Actuarial Science and those in Economics or Mathematics. It equips you with the knowledge and understanding of economic theory and statistical methods and their applications necessary to undertake graduate study in economics or actuarial science and/or to pursue a future career as an economist or actuary. It provides an excellent preparation for a variety of careers in quantitative finance and will give you a head start if you intend to enter the actuarial profession.
View the programme specification document for this course
All applications for full-time study should be made through UCAS - www.ucas.com Applications for part-time study can be made through UCAS or directly to the University.
The table below sets out the proposed exemption mapping between the professional Core Technical (CT) subjects of the Institute of Actuaries and the corresponding university courses. As you can see, we can offer exemption from all 8 Core technical examinations, one of the few Universities in the country to do so.
||Finance and financial reporting
||Accounting and finance for Non-Specialists
||Probability and mathematical statistics
||Statistics for economics
||Quantitative modelling in economics
||Statistical theory 2
||Actuarial mathematics I
||Actuarial mathematics II
||Statistical methods in insurance
||Foundations/principles of microeconomics
||Principles of macroeconomics
The usual criterion for achieving exemption status is the attainment of a raw (unscaled) mark of 60% or more in the final examination paper for the corresponding university course (where several university courses contribute to a CT subject, the usual requirement is that an appropriate weighted average of the corresponding raw final examination marks be 60% or more). This threshold of 60% may be raised (say, to 65%) or lowered (say, to 55%) at the discretion of the profession’s Independent Examiner, who scrutinizes each student’s performance and makes recommendations to the profession in respect of exemptions.
Module choices in year one are dependent on whether you have studied economics at A level. The programme structure below outlines the modules that you may typically expect to study, although this may vary depending on demand for the modules and staff availability. Eight modules are studied each year, with four in each semester. During year three you will study a dissertation, equivalent to two modules, which is a piece of independent research on a topic of your choice spread over both semesters.
Find out more about the University's Actuarial Society, SUAS
Members of staff are actively involved in the development of educational material and in the provision of actuarial training both in the UK and overseas.
Typical entry requirements
|GCSE||GCSE English grade C or above (or equivalent English language qualification)|
- 3 A level subjects: AAB (including A level Mathematics at grade A) or ABB (including A level Mathematics at grade A) with grade A in the Extended Project Qualification.
- 4 A level subjects: ABBB (including A level Mathematics at grade A or above).
Queries about contextualised offers can be made to: firstname.lastname@example.org . Information about the university’s scheme to widen participation (A2S) can be found here: Access to Southampton
Although an Economics A level is not required, preference will be given to applicants taking at least one analytical A level subject; that is, either Economics or Mathematics or a science-based subject.
Most A level subjects are acceptable with the exception of General Studies. One subject such as those on the following list is accepted if combined with other academic subjects:
- Art, including Design, Fine Art, Photography, Textiles, etc
- Critical Thinking
- Home Economics
- Leisure Studies
- Media Studies
- Music, including Music Technology
- Sports Studies including all forms of PE, Dance, etc
- Theatre Studies including Drama and Performing Arts
- Travel and Tourism
There may be a few places available for marginal candidates who have just missed the grades required by their conditional offer. For these students ONLY, the Admissions Tutor will consider any extra A level subject, including General Studies. Therefore, it is worth taking an extra A level as an insurance policy. There is no guarantee that extra spaces will be available.
|International Baccalaureate||34 points, 17 at Higher Level including at least 6 points in HL Mathematics|
We welcome applications from candidates offering qualifications other than A and AS levels (including BTEC, European Baccalaureate, International Baccalaureate, Irish Leaving Certificate and Scottish Highers). You will be expected to attain an equivalent standard to an A level applicant. Contact us for further information on equivalencies for these qualifications and others not listed here.
Please note that we cannot accept applicants from Greece on the basis of the Apolyterion alone; it must be supplemented by two A levels or an equivalent qualification.
We welcome applications from international students. Helpful information on applying, meeting a University representative in your country, or improving your English language levels can be found on the International Office website. If English is not your first language you will be required to pass an approved English test. We normally ask for a score of IELTS 6.5.
We welcome applications from mature students: if you will be over 21 at the start of your proposed degree programme, you are eligible for exemption from our normal entry requirements. However, you will be required to provide evidence of having completed recent serious and successful study (e.g. Access, Return to Study, Open University Foundation Courses), and of your capacity to pursue the course. Please note - due to the mathematical content of the courses at Southampton, you will be expected to have studied the appropriate level of mathematics relevant to the course.
The University of Southampton is committed to widening participation and ensuring that all students with the potential to succeed, regardless of their background, are encouraged to apply to study with us. The additional information gained through contextual data supports our admissions teams to recognise a student’s potential to succeed in the context of their background and experience. Students who flagged in this way will be made an offer which is lower than the typical offer for that programme
A typical contextual offer is ABB including grade A in A level Mathematics from three A levels or the equivalent from alternative qualifications.
Please see our contextual admissions pages for more information.
We usually make our decisions based on your UCAS form alone. Only candidates who require special consideration, e.g. on grounds of age or non-standard entry qualifications, are interviewed.
All of our degree programmes require modules in mathematics (algebra and calculus) and statistics to be taken in the first year. If you have not studied mathematics for some time, you are strongly advised to prepare for these courses prior to entry
This page contains specific entry requirements for this course. Find out about equivalent entry requirements and qualifications for your country.
Typical course content
Eight modules are studied each year, with four in each semester.
The programme structure below outlines the modules that you may typically expect to study, although this may vary depending on demand for the modules and staff availability.
Innovation modules outside of your subject area
Our Curriculum Innovation Programme offers you the chance to take optional modules outside of your chosen subject area. This allows you to personalise your education, to develop new skills and knowledge for your future. Modules range from "Living and working on the web" to "Business skills for employability".
View the Curriculum Innovation modules for this course
Learn a language
Some of our courses also give you the option of taking a language module, which can count towards your degree. These modules cover ten languages and range from absolute beginner to near-native speaker level.
View the language modules on offer for this course
The aim of the first year is to provide you with a firm foundation in the core subjects of your degree and an opportunity, through the choice of optional units, to broaden your field of study. Module choices in year one are dependent on whether you have studied Economics at A level.
Students choose three optional modules. They can choose options from other departments, from the Curriculum Innovation programme, and from Economics. Students are offered a variety of Social Sciences and Humanities modules: for example in Languages, Psychology, Management, Anthropology, Demography, Politics, Criminology, Philosophy, and Statistics. Curriculum Innovation modules include ‘Experiments in Economics’ and ‘Health Policy and Economics’. Modules in Economics itself include options in Microeconomics, Macroeconomics, Econometrics, Labour Economics, Finance, and Public Economics.
Year 2 comprises a mixture of compulsory and optional modules.
In addition to the compulsory modules listed below, students take one optional modules in semester 2 from a list approved by the Economics Division.
At least 3 modules over years 2/3 combined from MANG2014, MATH2012 (Year 2) and MATH3063, MATH3022, MATH3066, STAT3010 (Year 3) must be chosen. Provided this minimum requirement is met, any other options from the relevant year list supplied by Social Sciences may be taken as alternatives to the specified named-degree options.
- Econometrics 2
MANG2014 Accounting and Finance for Non-Specialists
- Stochastic Processes
These are only examples. There is a wide choice of optional modules (see above).
During year three you will study a dissertation (ECON3023 or DEMO3011), equivalent to two modules, which is a piece of independent research on a topic of your choice spread over both semesters. Students must take least one of ECON3008, ECON3010 and ECON3015.
Please note: This specification provides a concise summary of the main features of the programme and the learning outcomes that a typical
student might reasonably be expected to achieve and demonstrate if s/he takes full advantage of the learning opportunities that are provided.
More detailed information can be found in the programme handbook (or other appropriate guide or website).
Costs associated with this course
Students are responsible for meeting the cost of essential textbooks, and of producing such essays, assignments, laboratory reports and dissertations as are required to fulfil the academic requirements for each programme of study.
There will also be further costs for the following, not purchasable from the University:
|Equipment||Approved calculators: Candidates may use calculators in the examination room only as specified by the University and as permitted by the rubric of individual examination papers. The University approved model is Casio FX-570 This may be purchased from any source and no longer needs to carry the University logo.|
|Stationery||You will be expected to provide your own day-to-day stationery items, e.g. pens, pencils, notebooks, etc. Any specialist stationery items will be specified under the Additional Costs tab of the relevant module profile.|
|Books||Where a module specifies core texts these should generally be available on the reserve list in the library. However due to demand, students may prefer to buy their own copies. These can be purchased from any source.
Some modules suggest reading texts as optional background reading. The library may hold copies of such texts, or alternatively you may wish to purchase your own copies. Although not essential reading, you may benefit from the additional reading materials for the module.|
|Equipment||IT: Software licences - Publicly available software in public workstations and some available via iSolutions, but otherwise purchase.|
|Printing and copying||In the majority of cases, coursework such as essays, projects and dissertations is likely to be submitted on line. However, there are some items where it is not possible to submit on line and students will be asked to provide a printed copy. A list of the University printing costs can be found here:
|Other||Exemptions: Students who perform sufficiently well in relevant modules will receive recommendation
for exemption from the corresponding professional exams of the Institute and Faculty of Actuaries (IFoA), at no cost to the student. Graduates who subsequently decide to join the
IFoA and claim these exemptions must pay the relevant fees to the IFoA, details of which may be found here: http://www.actuaries.org.uk|
In some cases you'll be able to choose modules (which may have different costs associated with that module) which will change the overall cost of a programme to you. Please also ensure you read the section on additional costs in the University’s Fees, Charges and Expenses Regulations in the University Calendar available at www.calendar.soton.ac.uk.