**Mathematics for Business program – MABU ** ( Download Brochure)

Analytic and quantitative skills have become increasingly important as business practices have become more theoretical and vast amounts of data have become available along with the computing power to analyze it. Traditional undergraduate mathematics programs have been oriented to pure mathematics or towards applications in physics or engineering.

The Mathematics and Statistics Department of the University of North Carolina at Charlotte is now offering a Bachelor Degree in Mathematics for Business.The Mathematics for Business program is a solid and practical applied mathematics program that tightens the focus on business applications to better prepare students for a successful career path in the areas of insurance, finance, banking, and economics.

The Mathematics for Business program has a B.A. and a B.S. degree track. The B.S. program offers concentrations in Actuarial Science, Operations Research, and Mathematics Economic/Finance. Graduates of the proposed program in Mathematics for Business will be a valuable asset to the community. They will bring expertise in Mathematics, Statistics, and Operations Research along with excellent analytic skills to businesses, financial institutions, insurance firms, and governments of the area. The B.S. degree program when partnered with a program in Economics or Finance is an excellent stepping stone to graduate work in the areas of Economics, Finance, or Mathematical Finance.

**Bachelor of Arts in Mathematics for Business**

A major in Mathematics for Business for the B.A. degree consists of a minimum of 36 hours of approved mathematics, operations research, or statistics courses, including in its core:

MATH 1120 Business Calculus

MATH 2120 Intermediate Applied Calculus

MATH 2164 Matrices and Linear Algebra

MATH 2428 Actuarial Science IA – Mathematical Theory of Interest

MATH 4051 Computer Exploration and Generation of Data

STAT 1220, STAT 2223 Elements of Statistics I and II

STAT 3110 Applied Regression

OPRS 3111 Operations Research: Deterministic Models

and 9 additional hours of MATH, STAT, or OPRS numbers 3000 and above.

Required in addition are ITCS 1212 and related work consisting of 18 hours of approved courses in an area outside the Mathematics Department or an officially approved University minor. All students must meet the General Education requirements of the University (See Catalog)

**Bachelor of Science in Mathematics for Business**

A major in Mathematics for Business for the B.S. degree consists of a minimum of 45 hours of approved mathematics, operations research, or statistics courses, including in its core:

MATH 1241, MATH 1242, MATH 2241 Calculus courses I, II, III

MATH 2164 Linear Algebra

MATH 2171 Differential Equations

MATH 2428 Actuarial Science IA – Mathematical Theory of Interest

MATH 4051 Computer Exploration and Generation of Data

STAT 2122 Introduction to Probability and Statistics

STAT 2223 Elements of Statistics II

STAT 3110 Applied Regression

OPRS 3111 Operations Research: Deterministic Models

It is recommended and permitted that students take MATH/STAT 3122, MATH/STAT 3123 Probability and statistics I and II in place of STAT 2122 and STAT 2223.

**In addition a student in the B.S. program must select one of three Concentrations:**

Some of the subjects learned are: probability, the Central Limit Theorem, and applications to Statistics; Poisson process, the exponential distribution, the binomial branch model of option pricing, an introduction to risk theory, VAR (Value-at-Risk), computing VAR, backtesting, portfolio risk, forecasting risks and correlation, stress testing, , stationary time series models, modeling and forecasting with ARMA processes, ARIMA models for nonstationary time series models, spectral densities. |
Some of the subjects learned are: the mathematical theory of interest, the theory and application of contingency mathematics in the life and casualty areas, probabilistic and deterministic models for annuities and pensions, an introduction to risk theory and the concept of VAR (Value-at-Risk), computing VAR, backtesting, portfolio risk, forecasting risks and correlation. The curriculum is designed around the Actuarial exams P/1, FM/2, and MLC. See the Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS) web pages. |
Some of the subjects learned are: Queueing models, inventory models, simulation, Markov chains, decision analysis, game theory, probabilistic programming, theory of zero-sum matrix games, mini-max theorem, optimal strategies, symmetric, the identification of dynamic programming problems and their solution, elementary path problems, resource allocation, shortest path, traveling salesmen problem, discrete time optimal control, and inventory systems. |

Requirements:MATH 4122 Probability and Stochastic Models MATH 4128 Risk Theory STAT 3150 Time Series Analysis and additional 3000 or 4000 level course in MATH, STAT, or OPRS. |
Requirements:MATH 3128/3129/4129 Actuarial Science IB, IIA and IIB STAT 3150 Time Series Analysis Recommended: MATH 3122/3123 instead of STAT 2122/2223 |
Requirements:OPRS 3113 Operations Research: Probabilistic Models OPRS 4113 Game Theory OPRS 4114 Dynamic Programming and additional 3000 or 4000 level course in MATH, STAT, or OPRS. |

For each of the three concentration required in addition are ITCS 1212 and related work consisting of 18 hours of approved courses in an area outside the Mathematics Department or an officially approved University minor. All students must meet the General Education requirements of the University (See Catalog)

**Actuarial Courses Offered in the Fall **

MATH 2428 |
Actuarial Science IA: First of two Preparatory courses for Actuarial Exam FM/2 |
Prerequisites: Math 1242 |

MATH 3122 |
Probability and Statistics I: First of two Preparatory courses for Actuarial Exam P/1 |
Math 2241 |

MATH 3129 |
Actuarial Science IIA: First of two Preparatory course for Actuarial Exam MLC |
Math 3122 and 3128 |

MATH 6203 |
Stochastic Calculus for Finance: Preparatory course for Actuarial Exam MFE/3F |

**Actuarial Courses Offered in the Spring **

MATH 3128 |
Actuarial Science IB: 2nd Preparatory course for Actuarial Exam FM/2 |
Prerequisites: Math 2428 |

MATH 3123 |
Probability and Statistics II: 2nd Preparatory courses for Actuarial Exam P/1 |
Math 3122 |

Math 4129 |
Actuarial Science IIB: 2nd Preparatory course for Actuarial Exam MLC |
Math 3129 |

MATH 6203 |
Stochastic Calculus for Finance: Preparatory course for Actuarial Exam MFE/3F |

**Actuarial Exams Dates and Deadlines: Exams P, FM, MFE, and C**

Click on this link to check Exams Dates and Deadlines Schedule