Doctor of Philosophy (Ph.D.)

The Ph.D. is a degree designed to prepare the student for a research and teaching career in actuarial science, risk management and insurance. Students typically prepare for the Ph.D. program through a master's degrees in Risk Management and Insurance, Statistics or Economics.

The specific Risk Management and Insurance courses taken and the time required to complete them will depend on the undergraduate and graduate background of the candidate. A Ph.D. student must also pass a preliminary examination in risk management and insurance.

The most unique part of a Ph.D. program is the requirement that the candidate complete a dissertation which represents a significant research effort. Work on the dissertation typically takes a year or more.

Graduate Program Office's Ph.D. Admissions

Ph.D. - Actuarial Science, Risk Management and Insurance Program Form

General Business Prerequisites
Students are required to hold a previous BBA or Masters Degree in Business OR take two business courses from outside the Actuarial Science, Risk Management and Insurance and Finance departments.

Foundation
The foundation preparation required of the doctoral candidate at the School of Business majoring in Actuarial Science, Risk Management and Insurance includes:

Actuarial Science, Risk Management and Insurance
GEN BUS 805: Introduction to Decision Theory
GEN BUS 806: Advanced Statistical Methods
RMI 700: Principles of Risk Management
RMI 920: Seminar in Actuarial Science, Risk Management & Insurance I
RMI 930: Seminar in Actuarial Science, Risk Management & Insurance II

And at least one of the following:
RMI 610: Property Risk Management
RMI 615: Liability Risk Management
RMI 620: Employee Benefits Management
RMI 630: Life and Health Insurance
RMI 815: Risk Financing Techniques

Economics
Econ 711: Economic Theory-Microeconomics
Econ 302: Intermediate Macroeconomic Theory
Econ 709: Economic Statistics and Econometrics I
Econ 710: Economic Statistics and Econometrics II

Statistics
Stat 309: Introduction-Statistical Methods
Stat 310: Introduction to Math Statistics

Finance
Two courses at the 800 level or higher.

Criteria for Satisfactory Progress
Each year, the department monitors a Ph.D. candidates progress towards their degree.

Minor Program
All students must complete a minor program of 10 credits in a department other than the School of Business (external minor).