Bachelor of Actuarial Studies with the degree of Bachelor of Science
ATAR/Course cut-off
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Overview
Actuaries analyse and manage the risks associated with finance. By studying actuarial studies with either mathematics or statistics you will gain a competitive set of specialist skills.
In this degree you can major in both actuarial studies and science. The combination will give you a deeper understanding of the financial, mathematical, statistical and economic analysis needed in long term financial management.
Key features
- Accredited by the Institute of Actuaries Australia giving you a head start in your professional exams.
- One of the highest ATAR programs at Macquarie and with some of the highest graduate starting salaries.
- Our teachers are qualified actuaries giving you access to current industry knowledge.
Minimum course duration
4 years full-time / equivalent part time
Location
North Ryde
UAC Code
300276
Suitable for
If you are interested in long term financial management and have a particular interest in scientific areas of mathematics and statistics.
HECS Course fee
AUD $7,130.00 p.a.
Student amenities fee
Information on the Student services and amenities fee
Entry requirements
Actuarial Studies
- HSC Mathematics Extension 1 performance band E4 (Required)
- HSC Mathematics Extension 1 and 2 with a total mark of at least 180 (Recommended)
Science
- Depends on your chosen major
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:
In this double degree, students choose a major for the Bachelor of Science. Students choosing the mathematics and statistics majors have the opportunity to gain exemptions from Part 1 and Part 2 of the professional exams of the Institute of Actuaries of Australia.
What you will study
| General requirements | Credit Points |
|---|---|
| Minimum number of credit points for this degree | 96 |
| Minimum number of credit points at 200 level or above | 60 |
| Minimum number of credit points at 300 level or above | 30 |
| Minimum number of credit points from Science designated units | 42 |
| Completion of a Qualifying Major for the Bachelor of Science | |
| 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
| 100 level | Credit Points | ||||
|---|---|---|---|---|---|
| Required | ACST101 | Techniques and Elements of Finance | 3 | ||
| Required | ACST152 | Introduction to Actuarial Studies | 3 | ||
| Required | MATH133 | Mathematics IB (Advanced) | 3 | ||
| Required | STAT171 | Statistical Data Analysis | 3 | ||
| Required | either | MATH132 | Mathematics IA (Advanced) | ||
| or | MATH135 | Mathematics IA | 3 | ||
| 200 level | Credit Points | ||||
| Required | ACST202 | Mathematics of Finance | 3 | ||
| Required | ACST212 | Combinatorial Probability | 3 | ||
| Required | ACST255 | Contingent Payments 1 | 3 | ||
| Required | STAT271 | Statistics I | 3 | ||
| Required | STAT272 | Probability | 3 | ||
| 300 level | Credit Points | ||||
| Capstone | ACST359 | C | Actuarial Modelling | 3 | |
| Required | ACST358 | Survival Models | 3 | ||
| Required | 9cp from | ACST units at 300 level | 9 | ||
Students undertaking this course can choose from the following Bachelor of Science majors:
- Applied Econometrics
- Astronomy and Astrophysics
- Biology
- Biomolecular Sciences
- Brain, Behaviour and Evolution
- Business Information Systems
- Chemistry
- Climate Science
- Decision Science
- Development Studies and Culture Change
- Electronics
- Environmental Earth Science
- Environmental Geology
- Environmental Management
- Geography
- Geology
- Geophysics
- Human Geography
- Mathematics
- Palaeobiology
- Photonics
- Physics
- Psychological Science
- Software Technology
- Spatial Information Science
- Statistics
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, Australian Taxation Office
- 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 MyCareer.com Salary Centre, the average minimum starting salary for an actuarial graduate is $50,000.
Profiles
Our Students
Maggie Lee
As a Macquarie University student studying actuarial studies and mathematics, I have been exposed to a wide-gamut of experiences and support from lecturers and tutors. During my time as an intern at an actuarial consulting firm, I heard many people from the business world praise Macquarie University for its highly reputable and prestigious program which consists of a diverse range of highly regarded professors who excel at their discipline.
Our Expertise
Associate Professor Tak Kuen (Ken) Siu
Ken received his Ph.D. from the University of Hong Kong in 2001 and has got his B.Sc. (First Class Hons) in Mathematics (Statistics Options) from the Hong Kong University of Science and Technology in 1998. He was a Honorary Fellow of the College of Science and Engineering, The University of Edinburgh from 2004 to 2008. His biographical profile is listed in the 2006-2007 Edition of Marquis Who's Who in Science and Engineering, U.S.A.
an education in the top two per cent of universities in the world, giving you an international recognised and respected degree
