Description: This paper represents a brief progress report on research, being sponsored by the Casualty Actuarial Society CAS and the Society of Actuaries SOA, in the area of modeling of economic series. In particular, research is being undertaken to provide a foundation for the actuarial community’s modeling of a variety of economic variables, including interest rates, equity returns, inflation, unemployment rates, and real estate price levels. The specific objectives of this research are to provide a summary of the literature in the area of economic scenario modeling, identify data sources and methodologies in this area useful to the actuarial profession, and produce working software for economic modeling, including appropriate documentation, to be made available to the general actuarial community in order to allow actuaries to use and build upon this research.

Description: A program of undergraduate research in actuarial science and financial mathematics has been implemented at the University of Illinois over the last two years. This program has included two National Science Foundation-sponsored research Experiences for Undergraduates [in Summer 2007 and Summer 2009] on the topic 'Stochastic Modeling in Actuarial Science and Financial Mathematics,' as well as a variety of academic-year research projects undertaken by current actuarial science majors. This paper summarizes the program's evolving experiences in providing research opportunities to undergraduates, and highlights some of the topics and issues arising from these research experiences.

Description: From June 11 through August 3, 2007, the University of Illinois at Urbana-Champaign [UIUC] hosted a National Science Foundation-sponsored Research Experience for Undergraduates on the topic 'Stochastic Modeling in Actuarial Science and Financial Mathematics.' This Experience, provided to 6 undergraduate mathematics students from universities across the United States, was directed by Professor Rick Gorvett, the Director of the UIUC Actuarial Science Program. This report summarizes the program and describes the research projects undertaken.