The Department of Statistics and Applied Probability is home to four different unique undergraduate programs, in addition to a combined BS / MS program designed to provide students with a bachelors degree and a masters degree in the span of five years.
Applied Statistics is the right choice for students seekingh a career or advanced graduate studies in a wide variety of fields. Graduates who have rigorous statistical training are in great demand in government, industry, business, and research institutions.
Financial Mathematics and Statistics
The Financial Mathematics and Statistics degree is a joint program with the Department of Statistics and Applied Probability and the Department of Mathematics, incooperation with the Department of Economics. UC Santa Barbara is among only a few universities in the country that offers such a unique program. This demanding major is intended for students interested in the role that mathematics, probability, and statistics play in pricing and hedging securities in the financial markets.
Actuaries analyze the financial consequences of risk; they use mathematics, statistics, and economics to study uncertain future events. Actuaries specialize in the evaluation of risk and as such are a vital part of the insurance and financial industries. Students in the Actuarial program will receive a high level of training in statistics, mathematics, economics, and actuarial science. Students also receive strong support within the Department by the Actuary Association, which helps them prepare for professional society actuary exams.
Students that excel in the actuarial program are encouraged to apply to the combined BS/MS Actuarial Science program; This graduate degree is unique in California and is available only to UCSB students pursuing the Actuarial Science major. This distinctive feature of this degree is the two-quarter course sequence Research Project in Actuarial Science, which allows students the opportunity to apply different approaches to research projects provided by the Department's industrial partners.