Bachelor of Actuarial Studies with the degree of Bachelor of Science with a major in Decision Science
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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.
Today’s organisations have access to many detailed sources of data, and complex decision-making strategies are required in order to operate effectively. Decision Science provides practical methods for translating data into efficiency improvements. Students will learn how to manage resource allocation, supply chains, large projects, queues and inventory systems, how to study and predict markets, how to simulate complex systems computationally, how to transact business safely via the internet, and how to identify and work around uncertainty.
In your first year, you will most likely take Introductory Statistics and a computing unit such as Introduction to Computer Science. The core units of the major are offered by the Department of Statistics and these may be complemented by units from the other discipline areas such as computing, mathematics and other sciences.
A major in Decision Science can be completed as part of the Bachelor of Science degree or the Bachelor of Commerce degree.
Degrees offering Decision Science
Key features
- Comprehensive study of quantitative approaches to solving practical business and scientific problems.
- Business skills and knowledge enhanced with complementary study in areas such as market research, forecasting and data mining.
- Broad employment opportunities.
Location
North Ryde
Suitable for
If you want to work in the world of business and science where you will utilise the power of quantitative approaches to make decisions.
HECS Course fee
AUD $4,520 p.a.
Student amenities fee
Information on the Student services and amenities fee
Entry requirements
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 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 |
| Minimum number of credit points designated as science | 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 |
Double degree 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 | ||
| Total credit points required to satisfy this major | 27 | ||||
Notes
- Units marked with a C are Capstone units.
Major requirements
The following outlines the units (subjects) to be studied within this major
| 100 level | Credit Points | ||||
|---|---|---|---|---|---|
| Required | either | STAT170 | Introductory Statistics | ||
| or | STAT171 | Statistical Data Analysis | 3 | ||
| Required | 3cp from | 100 level COMP or ISYS units | 3 | ||
| 200 level | Credit Points | ||||
| Required | STAT279 | Operations Research I | 3 | ||
| Required | STAT270 | Applied Statistics | 3 | ||
| Required | STAT273 | Introduction to Probability | 3 | ||
| 300 level | Credit Points | ||||
| Capstone | STAT321 | C | Logistics and Project Management | 3 | |
| Required | STAT328 | Market Research and Forecasting | 3 | ||
| Required | STAT302 | Graphics, Multivariate Methods and Data Mining | 3 | ||
| Required | STAT379 | Operations Research II | 3 | ||
| Total credit points required to satisfy this major | 27 | ||||
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
Career Opportunities
Good decision-making is an asset to any organisation, and decision scientists are active throughout the modern economy. In particular, Decision Science has applications in:
- accounting
- business management
- engineering
- information technology
- inventory management
- logistics
- manufacturing
- project management
- warehousing
Employers
- Australian Bureau of Statistics
- banks and financial institutions
- CSIRO
- government (state and federal)
- hospitals
- insurance companies
- market research organisations
- medical and pharmaceutical companies
an education in the top two per cent of universities in the world, giving you an international recognised and respected degree
