2026-2027 Course Catalog

Source: https://catalog.illinois.edu/graduate/las/predictive-analytics-risk-management-ms/ Parent: https://catalog.illinois.edu/graduate/

for the Master of Science in Predictive Analytics and Risk Management

Concentrations for this program include:

Designed to respond to a large and growing demand for professionals with expertise in modern statistical techniques combined with an understanding of risk management in a wide range of industries including insurance, consulting, investment, pension, healthcare, banking and financial services. This program combines training in modern statistical methods with actuarial science principles and financial risk management. The coursework is intended for students who have the prerequisite quantitative background to train for careers in predictive analytics for insurance and other financial settings by providing a multidisciplinary and integrated program.

Core requirements include courses from three disciplines, a course in financial risk management, courses in risk management and predictive analytics from an actuarial science perspective, and training in statistical machine learning, big data techniques, and Bayesian statistical methods. Related courses from the three disciplines may then be chosen as electives for students to reach their individualized educational goals.

Courses will be scheduled so that students may complete the 32-hour program in one academic year. Each concentration requires 12 hours of common core courses, organized around three broad areas of expertise, including a case study course. Each concentration also requires 12 hours of related area coursework specific to the concentration, plus an additional 8 hours of electives from a prescribed list included in this proposal. At least 12 hours must be taken at the 500 level.

Graduate Degree Programs in Mathematics

for the Master of Science in Predictive Analytics and Risk Management

Course List

 | Code | Title | Hours |

| --- | --- | --- | | Core Requirements (12 hours): | | | | FIN 530 | Foundations in Risk Management | 2 | | ASRM 410 | Investments and Financial Markets | 4 | | ASRM 539 | Risk Analytics and Decision Making | 2 | | ASRM 555 | Advanced Predictive Analytics | 4 | | Concentration Required Courses (see below) | | 12 | | Electives (see below) | | 8 | | Total Hours | | 32 |

Other Requirements

Course List

 | Code | Title | Hours |

| --- | --- | --- | | Other requirements may overlap | | | | A concentration is required. | | | | Minimum 500-level Hours Required Overall: | | 12 | | Minimum GPA: | | 2.75 |

for the Master of Science in Predictive Analytics and Risk Management

Department Chair: Feng Liang\ Unit website\ Program website\ Program Office: 264 Computing Application Bldg., MC-382, 605 E Springfield Ave, Champaign, IL 61820\ Phone: (217) 300-5630\ Email: PARM@illinois.edu

College of Liberal Arts & Sciences

College of Liberal Arts & Sciences website

Admissions

Graduate College Admissions & Requirements\ Overview of Program Admissions & Requirements