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| Offered By: | ANU College of Business and Economics | | Duration: | 3 years full-time | | Minimum: | 144 units | | Academic Plan: | 3401XBACTS | | CRICOS Code: | 028147F | | 2009 Annual Fees: | A$21,600 | | The degree Bachelor of Actuarial studies is offered through the School of Finance and Applied Statistics. Up to fifteen of the twenty-four courses in the three-year pass degree may be accepted by the Institute of Actuaries of Australia to give exemption from the eight Part I subjects of the examinations for Fellowship of the Institute. Although a three-year pass degree leading to the Bachelor of Actuarial Studies is available, completion of Part II subjects examined by the Institute can only be obtained by completing the four-year degree leading to the Bachelor of Actuarial Studies (Honours) or by separate postgraduate study. The program is highly prescribed. Interested students should consult the Convener of the Actuarial Program or the College of Business and Economics. |
Program Requirements The Bachelor of Actuarial Studies degree requires completion of 144 units including: - At least 96 units taken from courses listed in Schedule 1
- Not more than 48 units at 1000 level
- The following compulsory courses:
a. ECON1101 – Microeconomics 1 b. ECON1102 – Macroeconomics 1 OR ECON1100 – Economics 1 (H) c. ECON2102/[2112|ECON2112] – Macroeconomics 2 [(P)/(H)] d. BUSN1001 – Business Reporting and Analysis e. The professional courses consisting of: i. STAT2032 – Financial Mathematics ii. STAT3032 – Survival Models iii. STAT3035 – Risk Theory iv. STAT3036 – Credibility Theory v. STAT3037 – Life Contingencies vi. STAT3038 – Actuarial Techniques f. The following courses: i. STAT2001 – Introductory Mathematical Statistics ii. STAT2008 – Regression Modelling iii. STAT3004 – Stochastic Modelling
Degree Structure Typical Full-time Program Pattern Meeting IAA Part I and II requirements | First semester | Second semester | Year 1
(48 units) | BUSN1001 Business Reporting and Analysis
ECON1101 Microeconomics 1
MATH1115 Mathematics and Applications 1 Honours
FINM1001 Money, Markets and Finance | FINM2001 Corporate Finance
ECON1102 Macroeconomics 1
STAT2001 Introductory Mathematical Statistics
Elective (6u) | Year 2
(48 units) | STAT2008 Regression Modelling
STAT2032 Financial Mathematics
STAT3004 Stochastic Modelling
Elective (6u) | ECON2102 Macroeconomics 2
STAT3032 Survival Models
FINM2002 Financial Instruments and Risk Management
Elective (6u) | Year 3
(48 units) | FINM3001 Investments
FINM3003 Continuous Time Finance
STAT3035 Risk Theory
STAT3037 Life Contingencies
| STAT3036 Credibility Theory
STAT3038 Actuarial Techniques
Elective (6u)
Elective (6u) | Year 4 Honours
(48 units) | ACST4004F Actuarial Studies IV Honours | ACST4004F Actuarial Studies IV Honours |
Career Possibilities
There are many attractive career opportunities for fully qualified actuaries in Australia. Some of the job titles associated with actuarial studies are listed below: Investment analyst
A financial expert trained to analyse the activities and future prospects and earnings of companies and securities for the purpose of investment. Fund administrator/investment manager
A person employed by an organisation that specialises in the investment of a portfolio of securities on behalf of individuals and/or organisations subject to the guidelines and directions of the investor. Liability manager
A professional person engaged by holders of liabilities, such as banks or industry superannuation funds, to advise on appropriate payment strategies and organisational structures to meet a stream of obligations. Actuarial insurance broker
An independent agent who values life, fire, accident and other forms of insurance for a range of insurance companies. Consultant
Offer their professional services for a fee, provide a wide range of services, including; advice on financial decisions, independent valuations, design of insurance funds, and future financial planning strategies. Senior manager
In addition to the roles described above, many actuaries successfully move into high-level administrative and management positions. Their broad training reflects the strong interdisciplinary nature of the actuarial profession, which mixes the need for strong theoretical skills with the need for sound practical intuition.
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