MSOE to offer two new degrees in mathematics area
| Published: 11/07/2012 |
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MSOE will offer a Bachelor of Science degree in Actuarial Science and a Bachelor of Science degree in Operations Research in Fall 2013. These degrees will be offered by MSOE’s Mathematics Department.
According to the U.S. Bureau of Labor Statistics, between 2010-2020, employment for actuaries is predicted to increase by 27 percent and employment for operations research analysts is predicted to grow by 15 percent.
“At MSOE we continuously evaluate industry needs and offer degree programs to meet the demands of employers,” said Dr. Fred Berry, vice president of academics. “Given the outlook presented by the U.S. Bureau of Labor Statistics, and our strong ability to offer degrees rooted in business and engineering, it is a natural step for MSOE to offer degrees in actuarial science and operations research.”
“Actuarial science is consistently rated as one of the best jobs in the United States,” said Dr. Yvonne Yaz, the MSOE mathematics professor who developed these degree programs. “We are excited to be offering these programs, and are proud to be the only university in Wisconsin to offer a bachelor’s degree in operations research.”
Actuaries are professionals who find ways to manage risk, evaluate the likelihood of future events and reduce the likelihood and impact of undesirable events. Many work for the insurance industry to calculate costs and determine premiums for policy holders. Others design pension and benefit plans; evaluate assets and liabilities; and help the government manage its programs and ensure compliance with regulatory laws. Actuaries also work for colleges, universities, banks, investment firms, public accounting firms, labor unions and rating bureaus.
Operations research is the mathematical discipline devoted to the study of complex systems through the creation and analysis of mathematical models. Operation research analysts use simulation (which gives them the ability to try out approaches and test the ideas); optimization (which narrows the choices to the best); and probability and statistics (which helps them measure risk, test conclusions and make reliable forecast) in a number of industries, including insurance, government and transportation.
Courses will focus on applied mathematics, mathematical modeling, general computer programming skills, economics, accounting, finance, ethics and business. These degrees prepare graduates for careers and graduate degree programs in actuarial science and operations research. For more information, visit www.msoe.edu/math.
MSOE is an independent, non-profit university with about 2,500 students. MSOE offers 20 bachelor’s degrees and nine master’s degrees in the engineering, engineering technology, building and infrastructure engineering, health-related engineering, computer, business and nursing fields. The university has a national academic reputation; longstanding ties to business and industry; dedicated professors with real-world experience; extremely high placement rates; and the highest starting and mid-career salaries of any Wisconsin university according to PayScale Inc. MSOE graduates are well-rounded, technologically experienced and highly productive professionals and leaders.