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In the Bachelor’s in Actuarial Science we train you to quantify risk by using mathematics, probability, statistics and data science. How likely is it that a factory will burn down? What would be the financial damage if that were to unexpectedly happen? What is the likelihood of you living to 101 so that your pension fund has to pay out for 45 years? As an actuary or risk manager you analyse data, make calculations and make a decision or recommendation.

The programme

The first 2 academic years of the Bachelor’s in Actuarial Science are almost in common with the Bachelor's programme in Econometrics and Data Science.

During your Bachelor's you apply your knowledge directly to real business cases using concrete data. Together with your fellow students, you come up with solutions for challenges that organisations or society face. This gives you the opportunity to explore the actuarial field.

Dutch or English?

If you are a Dutch-speaking student, you can also opt for our Dutch track. Both programmes are identical in terms of level and content. If you’re looking for a smoother transition to a fully English-taught programme, the Dutch track could be the right choice for you.

COURSES SEM 1 SEM 2 SEMESTER 1 SEMESTER 2 EC
  • Macroeconomics for AE
    Period 1
    6
  • Mathematics 1: Calculus
    Period 1
    6
  • Microeconomics for AE
    Period 2
    6
  • Probability Theory and Statistics 1
    Period 2
    6
  • Introduction Econometrics and Actuarial Science
    Period 3
    6
  • Finance for AE
    Period 4
    6
  • Mathematics 2: Linear Algebra
    Period 4
    6
  • Probability Theory and Statistics 2
    Period 5
    6
  • Programming and Numerical Analysis
    Period 5
    6
  • Introduction Data Science: Data Preprocessing
    Period 6
    6
COURSES SEM 1 SEM 2 SEMESTER 1 SEMESTER 2 EC
  • Life Insurance Mathematics
    Period 1
    6
  • Mathematics 3: Advanced Linear Algebra and Real Analysis
    Period 1
    6
  • Mathematics 4: Multivariate Analysis
    Period 2
    6
  • Probability Theory and Statistics 3
    Period 2
    6
  • Statistical Learning
    Period 3
    6
  • Econometrics 1
    Period 4
    6
  • Mathematical Economics 1
    Period 4
    6
  • Econometrics 2
    Period 5
    6
  • Risk Theory
    Period 5
    6
  • Empirical Project
    Period 6
    6
COURSES SEM 1 SEM 2 SEMESTER 1 SEMESTER 2 EC
  • Free-choice electives: Studying abroad, or Minor, or Electives
    Period 1
    Period 2
    Period 3
    24
  • Mathematical and Empirical Finance
    Period 1
    Period 5
    6
  • Financial Accounting in Life Insurance
    Period 4
    6
  • Stochastic Models in Life Insurance
    Period 4
    6
  • Bachelor's Thesis and Thesis Seminar Actuarial Science
    Period 5
    Period 6
    12
Compulsory course
Elective
  • Your study week

    Expanding your knowledge and at the same time developing your skills is key. That is why you will participate in a variety of teaching activities. Most of the courses are evaluated with one or more tests. This is usually a written examination, but it can also be an essay, a report, or a presentation.

    • Lectures (8 hours): Lectures give an introductory overview into the course content. You will attend them together with your fellow students. You take notes and have the opportunity to ask questions. Also, you can expect guest lectures from experts working in a wide range of economic organisations and fields.
    • Tutorials (6 hours): During tutorials you will discuss specific subjects from the lectures in small groups. Exercises and practice assignments will help you to become adept with the theory. 
    • Practicals (2 hours): During practicals you learn how to work with various mathematical and statistical computer programmes. 
    • Self-study (20 hours): During your study week, you spend time to study theory, go over lectures and seminars, and prepare for exams and presentations.
    • Skills & Connect: In the first 6 months of your studies, you will receive weekly coaching from a senior student in a small group. This mentor will help you learn to study more effectively, and you will work together on your basic mathematics and statistics skills. In the meantime, you will also get to know your fellow students. 
  • Year 1: develop a solid foundation

    This year is all about your basic knowledge of mathematics, statistics and economics. In particular:

    • you will take courses focusing on calculus, linear algebra, probability theory and statistics.
    • you will learn the basics of microeconomics, macroeconomics and finance.
    • you will get acquainted with the content of the Bachelor’s programmes in Actuarial Science and Econometrics and Data Science. 
    • you will learn to work with mathematical and statistical software such as R and Python.
  • Year 2: extend your foundation

    The 2nd year enhances your mathematical, statistical and research skills.

    • You will start to apply the tools you have acquired in year 1 to actuarial problems, in courses like Life Insurance Mathematics and Risk Theory.
    • You will keep expanding your knowledge of econometrics and data science, in courses like Statistical Learning and Econometrics 1 and 2.
    • You will finish the year by taking a Research Seminar that focuses on more recent developments in Actuarial Science and Mathematical Finance.
  • Year 3: analyse and solve problems

    First semester

    My Semester: customise your programme

    Your 3rd year is all about exploring your individual academic interests. The 1st semester of this year is all yours to construct. Options include an internship, studying abroad or free-choice electives.

    • Doing an internship: work at a company where you can put the experience and skills that you have gained into practice.
    • Studying abroad: spend a semester studying at one of our many partner universities to give you an exciting experience.
    • Doing a minor: this gives you a chance to broaden and differentiate your knowledge.
    • Deepen your knowledge with electives: choose between specialised courses in the area of business and economics to deepen your business knowledge.

    Second semester

    In the 2nd semester, you will delve deeper into life insurance models, accounting for insurance companies, as well as mathematical and empirical finance. And of course, you will be writing your Bachelor’s thesis.

  • Thesis

    Are you enthusiastic about a new development or idea in Actuarial Science? While writing your thesis, you have the chance to explore it fully while simultaneously training your ability to independently conduct and communicate relevant research. Your thesis is the final requirement to be completed for your graduation. 

Copyright: EB
Hi, I'm Ekaterina! I'm a Bachelor’s student in Actuarial Science from Russia. Got questions about studying at the UvA? Get in touch. Chat with Ekaterina
Additional options during your studies
  • Dutch or English track

    This Bachelor’s offers a Dutch and an English track. If you are a Dutch-speaking student, you can choose to follow our Dutch track. Both tracks are identical in terms of level and content.

    Dutch track

    In the Dutch track, tutorials and some lectures will be conducted in Dutch. You will also complete assignments and exams in Dutch. Each year, the amount of English used in the programme gradually increases. The Dutch track can be a good choice if you want some time to adjust to the English language and prefer a gradual transition to a fully English-language programme.

    English track

    If you opt for the English track, all courses are in English. From year 1 you will study with both Dutch students and students from around the world. This creates a diverse and international classroom.

  • Student coaching

    The transition from secondary school to university can be a major step. For this reason, you will receive intensive academic counselling as a 1-year student. You can also count on individual support during the rest of your studies.

  • Minors and electives

    The UvA offers a variety of minors and a wide selection of elective courses that you can undertake during your university years to broaden or deepen your knowledge.

  • Honours programme

    If you are ambitious, you can choose to take part in our Honours programme. You take the Honours programme alongside your regular studies. Completion results in you graduating 'with honours': an internationally recognised qualification.

  • Internships

    During your Bachelor's programme, you could put your knowledge into practice by means of a work placement.

  • Studying a semester abroad

    Studying abroad allows you to get to know a different culture, language and country, and we strongly recommend you take advantage of this opportunity. We have made collaborative and exchange agreements with over a 100 universities abroad, enabling you to study there for a semester.

  • Dutch language course

    Are you interested in learning Dutch? There are different options to give you the opportunity to maximise your Dutch experience and prepare for your future job in the Netherlands.

  • Study associations

    Many of our students are members of a study association. It is fun and useful for your future career at the same time. Faculty student associations are a great way to meet fellow students and future employers. They organise study trips (abroad), career events, weekly debates, parties and receptions with drinks. Sometimes you can also purchase your textbooks and course syllabi at reduced rates.

    The VSAE is the primary study association for the ‘quant' within the economics department, i.e., students Econometrics and Data Science, Actuarial Science and Business Analytics.

  • Student associations

    Amsterdam has a thriving student community with many activities organised outside of the university’s grounds. You will find student associations focusing on networking, specific interests and sports. It is only at sororities and fraternities that you can expect an initiation ritual (hazing).

  • Student participation

    At university, you are entitled to make your voice heard and assess the quality of your own education. Students can participate in the discussion on the university's education policy in various ways, such as by joining the Programme Committee, the Faculty Student Council or the student panel. You can also stand for election and dedicate your efforts to the programme and your fellow students.

Actuarial Science explained

Student Fadzai and our Programme Director explain what the Bachelor's programme Actuarial Science is about. 

Car crash
Real-life case: predicting auto insurance claims

Auto insurance companies have thousands of customers insured against vehicle damage. Auto insurers need to predict the number and size of claims to set reserves and price their services accurately.

How can you use data from previous years to predict next year’s claim numbers and sizes? What characteristics of policyholders are relevant for those predictions: age, area of residence, vehicle type, gender? How confident can you be in your predictions? How can you minimize the probability of making losses without being too conservative with your finances? All of these questions can be answered using the tools we teach you in this Bachelor’s programme.

challenges posed by climate change
Real-life case: challenges posed by climate change

An increasing number of scientists agree that climate change is leading to more frequent and severe natural disasters. These disasters result in property damage, presenting a challenge for the insurance sector. How can an insurance company quantify the risks of disasters for a property or region? How can it adjust calculations to account for climate trends? How should it factor in the extra uncertainty caused by climate change into the prices of insurance products? How much reserve should it set aside to protect itself from this uncertainty? Learn how to address these questions using empirical data, statistical models, and programming skills.

Responsibility, sustainability and ethics integrated to the curriculum

In this Bachelor's programme, you will learn how to use mathematics, probability and statistics to quantify (financial) risks. Social issues increasingly play a role in this. The study programme therefore regularly covers topics such as sustainability, ethics and social responsibility. For example, you will learn how to research how many people choose a more sustainable mode of travel when petrol becomes more expensive and how calculations should be adjusted taking sustainability issues into account. Also, you will discuss responsible use of data and possible adverse consequences of relying too much on models.

How are these themes integrated into the curriculum?

Through practical assignments, you will directly apply the knowledge you acquire during your studies to current topics in the media and real business cases. These topics are often related to ethics, corporate social responsibility and/or sustainability. This starts in the 1st year in Introduction Econometrics and Actuarial Science and Introduction Data Science. Furthermore, there is an explicit focus on ERS themes in courses such as Mathematical Economics 1 and Econometrics 1 and 2.

Justin Kersten, student BSc Actuarial Science
Copyright: EB
'I learned things about myself that I would not have if I had studied elsewhere' Justin Kersten, student Actuarial Science Read about Justin's experiences with this Bachelor's
Frequently asked questions
  • Do you need to excel in mathematics before you start with Actuarial Science?

    This Bachelor's programme is very focused on mathematics. Therefore, it is an advantage if mathematics is one of your favourite subjects and you excel in it. If you want to know which level of maths required, please have a look at the entry requirements.

  • Do you need programming skills before you start with Actuarial Science?

    No, you will learn everything you need to know in terms of programming during the Bachelor's.

  • The Bachelor's in Actuarial Science is also offered in Dutch. Is there any difference in the English and Dutch taught programmes?

    No, both tracks are identical in terms of level and content. In the Dutch track, tutorials and some lectures will be conducted in Dutch. You will also complete assignments and exams in Dutch. Each year, the amount of English used in the programme gradually increases, ensuring you a smooth transition to a fully English-taught programme. If you choose the English track, all lectures and tutorials are conducted in English. From year 1, you will study with both Dutch students and students from around the world. This creates a truly international classroom.

    Overview of the Dutch track:

    • Year 1: All lectures, tutorials and exams are in Dutch.
    • Year 2: Lectures will be in English, tutorials and exams in Dutch.
    • Year 3: All lectures and tutorials are in English. You can write your thesis in Dutch.
  • What makes this Bachelor’s programme at UvA unique?

    UvA is the only Dutch university with a Bachelor's programme degree in Actuarial Science. After obtaining your Bachelor’s degree, you can seamlessly continue with a Master's and post-Master’s programme to obtain the title of certified Actuary (Actuaris AG). Since this title is internationally recognised, you can easily find employment in the actuarial field outside the Netherlands. Furthermore, during your studies you won't just be working with mathematics and statistics, but also with data science.

  • What's the difference between Actuarial Science and Econometrics and Data Science?

    Both Bachelor's programmes focus on mathematics, statistics, and economics. Actuarial Science is more about understanding and managing financial risks, especially in insurance and finance. Econometrics is concerned with analysing and making sense of economic relationships from a broader perspective. The goal is to help organisations in making better business and policy decisions.

  • Can you switch between the Bachelor's programmes in Actuarial Science and Econometrics and Data Science after the first 2 years?

    The first 2 years of the programmes are nearly identical. Therefore, it is possible to switch between the two programmes until the end of the 2nd year. Depending on the time of your switch, you may need to take extra courses to comply with the requirements of your new programme.

  • How often are there exams and what do they look like?

    At UvA, we have 6 study blocks per year. In each block, you have a midterm exam and a final exam for each course you’ve taken in that block. The exams are usually written and last 2 or 3 hours, with closed books and notes. You are generally allowed to use a calculator, and in some cases a formula sheet. You are asked to solve (quantitative) exercises with pen and paper and to explain your reasoning. You receive partial credit if the answer is incorrect, but your reasoning is mostly correct.

  • Will you be mentored during your studies?

    To make the transition from secondary school to university as easy as possible, you will receive extra guidance in the 1st year and will be assigned a tutor. This tutor will introduce you to both the campus and the city of Amsterdam, so you will quickly feel at home. This senior student will also give you tips on how to study smart, and you can discuss your study goals and progress.

    During the rest of your studies you can also count on support from our study advisers, mentors, tutors and our Economics and Business Career Centre. You can contact our experienced student advisers for questions about your Bachelor's programme, study planning or personal circumstances that may affect your studies.