ECTS
120 credits
Duration
2 years
Training structure
Faculty of Economics
Language(s) of instruction
French
Presentation
The Actuarial Science program is one of the programs offered by the Faculty of Economics under the Money, Banking, Finance, and Insurance (MBFA) major.
It aims to provide students with a solid foundation of theoretical and methodological knowledge enabling them to pursue a career as an actuary, while also preparing future researchers in the fields of actuarial science, finance, and insurance.
What is an actuary?
An actuary is a professional who specializes in applying probability calculations and statistics to issues related to insurance, finance, and social welfare.
Their role consists of analyzing and quantifying risks, assessing their financial impact, and estimating the future cash flows associated with them. To do this, actuaries use advanced mathematical tools, mainly from probability theory and statistics, to model and predict future events such as:
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the length of human life,
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the frequency of claims,
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or the extent of the associated financial losses.

The advantages of the training program
- MULTIDISCIPLINARY TRAINING
- SOUGHT-AFTER EXPERTISE
- A STRONG CONNECTION TO THE PROFESSIONAL WORLD
Objectives
- Acquire actuarial methods and tools and compare them with professional practice
- Acquire the theoretical and methodological knowledge necessary to pursue a career as an actuary and prepare future researchers in this field.
- Mastering actuarial concepts, techniques, and methods.
- Be able to organize, analyze, and synthesize the processing of information and results.
- Manipulating large databases
- Mastering software/computer languages
Know-how and skills
Know-how
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Implement actuarial methodsfor risk assessment and management.
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Build and operate probabilistic and statistical models applied to insurance and finance.
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Analyze the financial impact of risks and estimate future cash flows.
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Collect, clean, and process large databases.
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Use specialized software and programming languages tailored to actuarial issues.
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Conduct quantitative studies and interpret the results of statistical analyses.
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Write technical reports and present results in a structured manner.
Skills
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Mastery of fundamental concepts in actuarial science, statistics, and probability.
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Ability to model random phenomena and produce predictive analyses.
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Ability to analyze, synthesize, and interpret complex information.
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Ability to solve complex quantitative problems independently.
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Critical thinking and scientific rigor.
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Ability to work with advanced computer tools.
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Written and oral communication skills, particularly for explaining technical results in layman's terms.
International dimension
Starting in their second year, students can spend a year (two semesters) at one of the 60 universities with which the Faculty of Economics has partnerships through the ERASMUS+ exchange programs, inter-university agreements, and CHARM-EU.
Organization
Knowledge assessment
The Master's programs at the Faculty of Economics are structured over two years and four semesters, based on an assessment system designed to measure students' learning progressively and comprehensively. At the end of each semester, the skills, competencies, and knowledge acquired in each Teaching Unit (UE) are assessed in one of two ways: continuous assessment or a final exam.
Continuous assessment allows for regular monitoring of student progress through several forms of evaluation: supervised assignments, graded tutorials, presentations, projects, document analysis, and active participation in class. This method encourages attendance, regular work, and the gradual acquisition of skills.
The final exam consists of a written or oral test held at the end of the semester. It aims to assess the student's overall mastery of the concepts taught and their ability to apply their knowledge in a structured and in-depth manner.
Depending on the course units, teaching methods, or learning objectives, some units may combine both assessment methods. These methods ensure fair and diverse assessment that is tailored to the nature of the course, while allowing students to develop methodology, rigor, and autonomy throughout their academic career.
Special facilities
Students with disabilities, young entrepreneurs, and high-level athletes can benefit from personalized support.
This may take the form of study arrangements, educational adaptations, or specific rights, in order to enable them to best balance their personal or professional constraints with their university education. Depending on the situation, these measures may include an adapted schedule, adjusted assessment methods, attendance facilities, individualized monitoring, or dedicated support services.
Internships, supervised projects
Internship | Possible |
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Duration of the internship | Maximum 924 hours, or 6 months |
Internship abroad | Possible |
A true immersion in the professional world, internships allow students to apply the knowledge they have acquired in class, discover how organizations work, and compare theory with practice. To get the most out of an internship, serious preparation is essential: learn about the host organization, define your objectives, mobilize your skills, and prepare for professional demands.
All Master's programs offer the possibility of doing an internship.
In Master 1, internships are possible and optional. They must be related to the program.
The internship may begin at the end of the second semester exams or be completed during university vacation periods. In all cases, it must end no later than August 31, regardless of whether the student is enrolled in a Bachelor's degree, Master's degree, or University Diploma program.
In Master 2, the internship is mandatory.
The start date is set in agreement with the academic supervisor, generally between February and March, in order to fit in with the training schedule and the requirements of the final thesis. Regardless of the period chosen, the internship mustend no later than September 30.
Program
The program lasts two years, or four semesters.
120 ECTS
Initial and continuing education
Theoretical econometrics
5 creditsMarket finance
4 creditsMonetary and financial macroeconomics
3 creditsForecasting methods
5 creditsAlgorithms and Programming
3 creditsData mining and big data
Data warehouse
Language selection list
Choose one of two options:
English for Finance 1
2 creditsSpanish 1
Economics of Bancassurance
3 credits
Introduction to Stochastic Calculus
4 creditsCorporate finance
4 creditsIntroduction to SAS / Excel VBA
2 creditsActuarial models in Excel VBA
3 creditsTime series econometrics
5 creditsTechnical analysis
2 creditsApplied econometrics project
5 creditsActuarial techniques
3 creditsChoose one of two options:
English for Finance 2
2 creditsSpanish 2
2 credits
Optional
Financial markets and financial theory
2 creditsProfessional development conferences
Trading algorithm
1 creditPortfolio management under R
1 creditNon-Life Actuarial Science
3 creditsFinancial analysis (Bank of France)
1 creditIntroduction to Artificial Intelligence in Python
0.5 creditsPrimary stock market: initial public offering
0.5 creditsStochastic calculus
2 creditsFinancial English
1 creditEnterprise risk management
1 creditExploratory statistics (SAS)
1 creditComputer techniques (VBA)
1 creditModeling emerging risks
2.5 creditsLife Actuarial Science
2.5 creditsCybersecurity and cryptography
1 creditEconometrics applied to finance
2 creditsFinancial market econometrics
2 creditsFinancial big data
1 creditFinTechs, Blockchain, and Cryptocurrencies
1 creditNumerical methods in actuarial science "VBA"
2 creditsBanking and insurance regulations
1 credit
OPTION 1
30 creditsChoose 1 or 2 from 2
Research thesis as part of a research program
30 credits3- to 6-month internship
30 credits
Introductory seminars on research
Admission
Admission requirements
- For Master's 1: Holder of or currently pursuinga bachelor's degree (or equivalent, three years of higher education) in economics or a similar field, recognized in France or Europe.
- For the Master 2: Have completed at least 4 years of higher education (Bac +4 / 240 ECTS) in fields related to economics or similar. A strong academic record and, in some cases, professional experience are valued.
Registration procedures
First year of master's degree
To apply for admission to Master 1, you must submit your application on theMon Master platform.
Second year of master's degree
To gain equivalent access to the second year of the master's program, the ecandidat procedure is mandatory.
economie.edu.umontpellier.fr/applications/applications-and-admissions/
Target audience
Students from the Montpellier Academy, the Occitanie region, France, and internationally
Tuition fees
Tuition fees are set each year by the Ministry of Higher Education. They are accompanied by the Student and Campus Life Contribution (CVEC). Both are exempt for students receiving scholarships.
Capacity
Recommended prerequisites
A good level inmicroeconomics, macroeconomics, mathematics, statistics, and econometrics is essential. Depending on the desired career path, certain options may be valued.
And after
Continuing education
Master's degree graduates can continue their studies, particularlyin economics, in France or abroad, especially those who are interested in research or higher education. Additional specialized training (university degrees) may also be considered depending on career plans.
Professional integration
The main positions targeted are: actuarial research officer, statistical research officer, data scientist, statistician, portfolio monitoring manager, research and technical management officer, reinsurance underwriter (personal insurance), risk manager, etc.
The professional sectors concerned are "Banking and Insurance, Finance, Pension Plans, and Health."
Reception services require a wide range of skills (non-exhaustive list): statistics, pricing and statistics division, actuarial science, forecasting, study coordination, management control, data analysis, research and development, decision support services, research management, business intelligence, development management, risk management, quality department, social action, marketing studies and monitoring, prevention department, credit and risk, development and organization, health benefits department, management and development, public health.
Graduates can also find employment in other statistical professions, particularly in the service sector and even in industry (marketing and sales services).
The alignment between training and business demand is reflected in a particularly high rate of employment within a very short period of time. The quality of the jobs offered to students at the end of their training (permanent contracts, management positions) also attests to this.
https://osipe.edu.umontpellier.fr/masters/