Course Sequence
Question: Are the VEE courses needed for the actuarial exams?
Answer: No; all courses are separate. No on-line course requires knowledge of the others, and no actuarial exams assume knowledge of the VEE courses.
Question: In what order should I take the VEE courses?
Answer: The choice is up to you. You can take the two economics courses together, since the two textbooks are similar; both are based on a market clearing model and they have the same perspective on many topics.
If you have no background in the subjects, the sequence microeconomics, macroeconomics, mathematical statistics, corporate finance, and financial accounting is often easiest. Many candidates have college credits for some courses, and need credit only for the remaining courses. You can combine college courses with on-line courses to receive VEE credit.
Question: How do the textbooks for these courses compare?
Answer: The Landsburg text for microeconomics is wonderfully written with fascinating stories. The Barro text for macroeconomics is very good, but Barro doesn’t have the same flair for writing. Brealey and Myers is the standard corporate finance text, but some chapters are difficult. The mathematical statistics text is harder to read if you have no background in this subject; the on-line postings explain much of the material. The financial accounting textbook is difficult for some candidates, but understanding insurance financial statements is a great benefit.
Question: I recently received my BA, and I have taken the first actuarial exam. I have not taken any of the VEE courses in college. What sequence of on-line courses and exams would you recommend?
Answer: Take microeconomics, macroeconomics, and mathematical statistics first, then corporate finance and financial accounting.