Master of Commerce with a specialisation in Actuarial Studies
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Overview
The Master of Commerce delivers a flexible, student-centred and relevant postgraduate business education in a range of disciplines. It is highly practical and designed to meet the career needs of graduates. The degree prepares graduates with capabilities for careers in the professions.
This course is not offered Session 2, 2012
This specialisation is designed to develop theoretical knowledge and applied skills in actuarial studies and its related fields.
Areas covered include Mathematics of Finance, Statistical Theory Students, Contingent Payments, Mathematical Theory of Risk and General Insurance Pricing and Reserving. By taking this specialisation, students will be able to develop the foundations to a career in a related area (e.g. insurance).
Degrees offering Actuarial Studies
Key features
- Prepares students with the skills necessary to be a risk-manager and creative problem-solver.
- Teaches students how to analyse and manage the risks of financial contracts, insurance and retirement funds.
- Available to students who have completed a Bachelor degree in any discipline including a non-business degree.
- Units are also offered for those without the necessary underlying mathematical and statistical background.
Minimum course duration
1.5 years full time/ equivalent part time
Location
North Ryde
Suitable for
Suitable for recent graduates and professionals interested in undertaking specialised study in actuarial and related statistical science.
Course fee
AUD $22,144.00 p.a. 
Student amenities fee
Information on the Student services and amenities fee
Entry requirements
Applicants must hold a university degree equivalent in standing to a three-year Australian bachelor degree and should have gained a GPA of 2.70 or more (out of 4.00).
English language requirements
If you have completed the NSW HSC or equivalent you satisfy the English proficiency requirements.
For full information view the English proficiency requirements table (436 Kb).
Work experience requirements
What you will study
| Degree requirements | Credit Points |
|---|---|
| Minimum number of credit points | 48 |
| Minimum number of credit points at 600 level | 16 |
| Minimum number of credit points at 800 level or above | 32 |
| Minimum number of credit points at 800 level or above designated as Commerce | 28 |
| Completion of other specific minimum requirements as set out below |
Master requirements
The following outlines the units (subjects) to be studied within this master.
| 600 level | Credit Points | ||||
|---|---|---|---|---|---|
| Required | 16cp from | ACCG611 | |||
| ACCG612 | |||||
| ACCG613 | |||||
| ACCG614 | |||||
| ACST601 | |||||
| ACST602 | |||||
| ACST603 | |||||
| ACST604 | |||||
| BUS651 | |||||
| ECON632 | |||||
| ECON633 | |||||
| ECON634 | |||||
| ECON635 | |||||
| MKTG696 | 16 | ||||
| 800 level or above | Credit Points | ||||
| Required | one of | 32cp at 800 level or above | |||
| 1 specialisation and 16cp at 800 level or above | |||||
| 2 specialisations | 32 | ||||
Specialisation requirements
The following outlines the units (subjects) to be studied within this specialisation
| 600 level | Credit Points | ||||
|---|---|---|---|---|---|
| Recommended | ACST601 | 4 | |||
| Recommended | ACST602 | 4 | |||
| Recommended | ACST603 | 4 | |||
| Recommended | ACST604 | 4 | |||
| 800 level or above | Credit Points | ||||
| Required | 16cp from | ACST851 | Mathematics of Finance | ||
| ACST859 | Contingent Payments 1 | ||||
| ACST860 | Contingent Payments 2 | ||||
| STAT810 | Statistical Theory | ||||
| or 16 cp from 16cp from | |||||
| ACST851 | Mathematics of Finance | ||||
| ACST861 | Mathematical Theory of Risk | ||||
| ACST862 | General Insurance Pricing and Reserving | ||||
| STAT810 | Statistical Theory | ||||
| or 16 cp from 16cp from | |||||
| ACST828 | Options, Futures and Derivatives | ||||
| ACST829 | Capital Budgeting and Financial Modelling | ||||
| ACST831 | Actuarial Control Cycle 1 | ||||
| ACST832 | Actuarial Control Cycle 2 | ||||
| ACST865 | Quantitative Methods in Risk Management | ||||
| ACST871 | Investment Management | 16 | |||
Notes
- Please note that this specialisation is only available for commencement in Session 1.
- The course information contained on this page is applicable for 2012 ONLY.
For more information please read the courses disclaimer.
Careers
Career Opportunities
Completion of this degree can lead to well paid and rewarding career opportunities in the insurance, financial services and banking industries.
- Banking and Finance Manager
- Insurance Broker
- Investment Consultant
- Risk Manager
- Public Sector Advisor
- Academic
Employers
- Accounting firms
- Actuarial and superannuation consulting firms
- Banks and funds management
- General insurance companies
- Health insurance companies
- Life insurance companies
- Management consulting firms
- Public sector
- Stockbrokers
Average starting salary
According to the Graduate Careers Australia, the average graduate starting salary for Actuarial graduates is $56,175.
Profiles
Our Expertise
Associate Professor David Pitt
David is a Fellow of the Institute of Actuaries of Australia and has a PhD in Actuarial Studies from ANU. He is a dedicated teacher and has won numerous teaching awards during his career including the Vice Chancellor's Award for Teaching Excellence from the ANU in 2003 and a national citation for outstanding contributions to student learning from the Australian Learning and Teaching Council in 2009. Prior to academia, David worked with AMP as an actuarial analyst for two years, specialising in the pricing and valuation of both personal and commercial lines of general insurance business.
1. Academic transcript of your previous tertiary studies 