Bachelor of Actuarial Studies with the degree of Bachelor of Economics
ATAR/Course cut-off
View courses for International students.
Overview
Actuaries analyse and manage financial risks, while economists analyse the production, distribution and consumption of goods and services.
In this double degree you'll study both actuarial studies and economics. This will give you a deeper understanding of the financial, mathematical, statistical and economic analysis needed in long-term financial management.
Key features
- This program is accredited by the Institute of Actuaries of Australia and is the first of its kind in Australia to be accredited as a Centre of Excellence.
- Keep your career options open with a major in both actuarial studies and economics.
- Our teachers are qualified actuaries and economists giving you access to current industry knowledge.
Minimum course duration
4 years full-time / equivalent part-time
Location
North Ryde
UAC Code
300274
Suitable for
If you are interested in long term financial management and have a particular interest in economics.
HECS Course fee
AUD $7.230 p.a.
Student amenities fee
Information on the Student services and amenities fee
Entry requirements
- HSC Mathematics Extension 1 performance band E4 (Required)
- HSC Mathematics Extension 1 and 2 with a total mark of at least 180 (Recommended)
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
Notes:
This double degree gives students the opportunity to gain exemptions
from Part 1 and Part 2 of the professional exams of the Institute of
Actuaries of Australia.
To gain this exemption students must study one unit more than the degree rules require.
What you will study
| General requirements | Credit Points |
|---|---|
| Minimum number of credit points for the degree | 96 |
| Minimum number of credit points at 200 level or above | 60 |
| Minimum number of credit points at 300 level or above | 30 |
| Completion of a designated People unit | |
| Completion of a designated Planet unit | |
| Completion of other specific minimum requirements as set out below |
Specific requirements
The following outlines the units (subjects) to be studied within this double degree
Notes
- Units marked with a C are Capstone units.
- The course information contained on this page is applicable for 2012 ONLY.
For more information please read the courses disclaimer.
Careers
Accreditation
The actuarial degree is accredited by the Institute of Actuaries of Australia (IAAust). This means that if you complete the four-year double degree involving actuarial studies with grades of credit or above in the relevant units you are granted exemption from Parts 1 and 2 of the IAAust's professional exams.
Career Opportunities
- Banking and Finance
- Energy and Environment
- General and Health Insurance
- Investment
- Life Insurance
- Management
- Non-traditional areas such as IT, e-commerce, climate change
- Public Sector: Australian Prudential Regulation Authority (APRA), Australian Taxation Office (ATO)
- Risk Management
- Superannuation
- Wealth Management
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 such as APRA; ATO
- Software development companies
Average starting salary
According to Graduate Career Australia and MyCareer.com, the median salary for an economics and actuarial graduate is $50,000.
Profiles
Our Students
Sam Wakeling
The reputation of the Faculty of Business and Economics assured me that Macquarie was the best university to combine Actuarial Studies with Economics.
Whilst combining Actuarial Studies with Economics is a lot of work, I am finding the course extremely interesting and challenging, which is what I wanted from my time at university.
The easy commute to Macquarie University means I have more time to do the other things I enjoy in life.
Our Graduates
Prashan Karunaratne
With Macquarie Actuarial Program, you start your Actuarial units from day one. In fact, half your subjects in the first year alone are specific subjects designed only for Actuarial Students. Thus, we were able to form a close group of both friends and colleagues, as we got familiar with students of our cohort. Actuarial Studies can lead you down the traditional path of becoming an Actuary, or it can be a complemented to a second degree where you develop your technical skills further.
Macquarie's Economics program is so well-respected in Australia that the Reserve Bank of Australia consistently employs Macquarie graduates each year.
Our Expertise
Professor Jeffrey Sheen
Jeff obtained his PhD at the London School of Economics, has been on the faculty of the Universities of Manchester, Essex and Sydney, and has had a visiting appointment at the Reserve Bank of Australia. He has published his research in major international journals, and his interests span international economics, macroeconomics, labour and international finance.
His Macroeconomics textbook written with Olivier Blanchard is widely used in Australia. Jeff is a co-editor of the Economic Record, and the Secretary of the Central Council of the Economic Society of Australia.
an education in the top two per cent of universities in the world, giving you an international recognised and respected degree
