ACTUARIAL SCIENCE PROGRAMME
3.1.1 Philosophy, Aim and Objective of the Degree Programme
To produce skilled manpower who will be able to manage and perform productively in the insurance industry.
Actuarial science applies mathematical skills to the social sciences to solve important problems for insurance, government, commerce, industry and academic researchers.
The BSc Actuarial Science programme has a heavy mathematical and statistical component.
3.1.2 Regime of Subject Knowledge
The product of this programme should understand risk and risk management in business and other fields and be professionally qualified to practice the professions.
3.1.3 Admission and Graduation Requirements
As provided for in the general admission and graduation requirements
***Note that First-Year Courses are common to all students in the three programmes of the department.
3.1.4 Course Structure
100 LEVEL
Course Structure at 100 Level Actuarial Science
| FIRST SEMESTER | |||||
| CODE | COURSE TITLE | UNIT | STATUS | LH | |
| ACC 101 | Principles of Accounting I | 2 | C | 30 | |
| BUS 101 | Principles of Management I | 2 | C | 30 | |
| CRM 105 | Introduction to Sociology | 2 | C | 30 | |
| CSC 101 | Introduction to Computer | 3 | C | 45 | |
| ECO 101 | Principles of Economics I | 2 | C | 30 | |
| GST 101 | Communication in English I | 2 | C | 30 | |
| GST 107 | Introduction to Entrepreneurship | 2 | C | 30 | |
| GST 123 | Logic, Philosophy and Human Existence | 2 | C | 30 | |
| MGT 101 | Introduction to Finance I | 2 | C | 30 | |
| ECO 103 | Business Mathematics I | 2 | C | 30 | |
| MGT 113 | Basic Statistical Methods | 2 | C | 30 | |
| Sub Total | 23 | ||||
| SECOND SEMESTER | |||||
| CODE | COURSE TITLE | UNIT | STATUS | LH | |
| ECO 106 | Business Mathematics II | 2 | C | 30 | |
| ACC 102 | Principles of Accounting II | 2 | C | 30 | |
| BUS 102 | Principles of Management II | 2 | C | 30 | |
| MGT 102 | Introduction to Finance II | 2 | C | 30 | |
| GST 122 | Use of Library, Study Skills and ICT | 2 | C | 30 | |
| IRP 122 | Introduction to Psychology | 2 | C | 30 | |
| GST 110 | The Citizen and the State | 2 | C | 30 | |
| ECO 110 | Principles of Economics II | 2 | C | 30 | |
| GST 104 | Nigerian People and Culture | 2 | C | 30 | |
| GST 102 | Communication in English II | 2 | C | 30 | |
| Sub Total | 20 | ||||
| GRAND TOTAL | 43 | ||||
200 LEVEL
Course Structure at 200 Level Actuarial Science
| Course Code | Course Title | Units | Status | L.H. |
| FIRST SEMESTER | ||||
| ACS 201 | Introduction to Insurance | 3 | C | 45 |
| ACS 207 | Advanced Mathematics I | 3 | C | 45 |
| BUS 203 | Business Communication | 2 | C | 30 |
| ECO 201 | Micro-Economics Theory | 3 | C | 45 |
| MGT 211 | Elements of Marketing | 3 | C | 45 |
| ACC 201 | Financial Accounting I | 3 | C | 45 |
| GST 211 | Entrepreneurship | 2 | R | 30 |
| GST 221 | Peace Studies and Conflict Resolution | 2 | R | 30 |
| Sub-Total | 21 | |||
| SECOND SEMESTER | ||||
| ACS 202 | Introduction to Actuarial Science | 3 | C | 45 |
| ACS 208 | Advanced Mathematics II | 3 | C | 45 |
| ECO 202 | Macro-Economics Theory | 3 | C | 45 |
| MGT 212 | Quantitative Analysis | 3 | C | 45 |
| ACC 202 | Financial Accounting II | 3 | C | 45 |
| GST 210 | Environment and Sustainable Development | 2 | R | 30 |
| Pick one (1) Elective Course | ||||
| MGT 214 | The Public and Private Sector | 3 | E | 45 |
| Sub-Total | 20 | |||
| Total Units | 41 | |||
300 LEVEL
Course Structure at 300 Level Actuarial Science
| Course Code | Course Title | Units | Status | L.H |
| FIRST SEMESTER | ||||
| ACS 303 | Life Contingency I | 2 | C | 30 |
| ACS 305 | Risk Management I | 3 | C | 45 |
| ACS 307 | Numerical Analysis | 3 | C | 45 |
| ACS 309 | Actuarial Mathematics | 3 | C | 45 |
| MGT 307 | Management Information System | 3 | C | 45 |
| MGT 313 | Human Behaviour in Organisation | 2 | C | 30 |
| ACS 317 | Investment Theory | 2 | R | 30 |
| ACS 325 | Mathematical Statistics | 3 | R | 45 |
| Sub-Total | 21 | |||
| SECOND SEMESTER | ||||
| ACS 304 | Theory of Interest | 2 | C | 30 |
| ACC 212 | Cost and Management Accounting | 3 | C | 45 |
| ACS 306 | Life and Health Insurance | 3 | C | 45 |
| ACS 308 | Further Numerical Analysis | 3 | C | 45 |
| ACS 316 | Probability Theory | 3 | R | 45 |
| GST 222 | Leadership Skills | 2 | C | 30 |
| MGT 302 | Research Methods | 3 | C | 45 |
| ACS 310 | Operations Research | 3 | C | 45 |
| Sub-Total | 22 | |||
| Total | 43 | |||
400 LEVEL
Course Structure at 400 Level Actuarial Science
| Course Code | Course Title | Units | Status | L.H. | P.H |
| FIRST SEMESTER | |||||
| ACS 401 | Life Contingency II | 3 | C | 45 | – |
| ACS 403 | Theory and Practice of Investment | 3 | C | 45 | – |
| ACS 405 | Risk Management II | 3 | C | 45 | – |
| BUS 411 | Business Decision Analysis and Ethics | 3 | C | 45 | – |
| IRP 421 | Production and Operations Management | 3 | C | 45 | – |
| MGT 401 | Business Policy and Strategy | 3 | C | 45 | – |
| ACS 413 | Marine Insurance | 3 | R | 45 | – |
| ACS 415 | Aviation Insurance | 3 | R | 45 | – |
| Sub-Total | 24 | ||||
| SECOND SEMESTER | |||||
| ACS 402 | Pension Fund and Social Insurance | 3 | C | 45 | – |
| ACS 404 | Actuarial Statistics and Mortality Analysis | 3 | C | 45 | – |
| ACS 412 | Research Project | 6 | C | 15 | 235 |
| ACS 414 | Motor Insurance | 3 | R | 45 | – |
| ACS 416 | Engineering Insurance | 3 | R | 45 | – |
| Sub-Total | 18 | ||||
| Total | 42 | ||||
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