The Ph.D. program prepares students for a research and teaching career in actuarial science, risk management, and insurance.

Specific course requirements 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 unique part of a Ph.D. program is the requirement that the candidate complete a dissertation which typically is completed several years after the required course work is completed.

General Business Prerequisites

Students are required to hold a previous BBA or master's degree in business OR take two business courses from outside the Risk and Insurance and Finance, Investment, and Banking departments.

Foundation Coursework

All Risk and Insurance students are required to take all of the following courses unless otherwise noted.

Risk 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 courses:

  • 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


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


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


  • Two courses at the 800 level or higher