single degree

Master of Actuarial Practice

A single 2.5 year graduate degree offered by the ANU College of Business and Economics

MACTP
  • Length 2.5 year full-time
  • Minimum 120 Units
First year student? There’s more information about enrolling in your degree.
  • Length 2.5 year full-time
  • Minimum 120 Units
First year student? There’s more information about enrolling in your degree.

Are you a maths whiz who wants stimulating work, limitless potential and an ever growing salary? This is the esteemed degree that will make you a thought leader in financial fields. With an ANU Master of Actuarial Practice degree you will excel your career literally anywhere in the world.

 

Risk is all around us - in investment markets, on the roads, from our health and the climate. This degree will teach you how to apply your mathematical talent in understanding, measuring and managing the risks.

 

Graduates will apply mathematical, statistical, financial, economic and other skills to untangle the most complex and difficult problems facing the commercial world.

Career Options

ANU provides you with more choice for your entrance score by offering the new Flexible Double Degree program.

The ANU Flexible Double Degree lets you build skills for your chosen career without forfeiting your passion.  It's your choice to build a double degree partnership that suits your head and your heart.http://students.anu.edu.au/applications/

If you are interested in starting your studies in 2014, please look at the 2014 programs on offer. Otherwise, this program is available for applications from Summer Session, 2014

Learning Outcomes

  1. Graduates of the Master of Actuarial Practice will have the necessary cognitive skills to demonstrate a superior knowledge and understanding of key concepts in actuarial studies and related fields.

  2. Graduates will be able to demonstrate high levels of cognitive and technical skills in analysing and interpreting specific business situations so that the correct actuarial techniques can be applied.

  3. Graduates will be able to demonstrate high levels of cognitive and technical skills as well as critical thinking to solve specific actuarial problems.

  4. Graduates will have strong communication skills, being able to demonstrate the ability to communicate concisely, accurately, and confidently in a number of different mediums including written and oral.

  5. Graduates will have strong communication and technical research skills to justify and interpret actuarial research planning, methodology and implementation.

Admission Requirements

  1. Applicants are required to hold a pass degree in a business, economics, finance, mathematics or statistics discipline from an Australian university or equivalent overseas institution.

  2. Applicants must have a performance average of ANU 65% or better (or equivalent) held in the last two years of the undergraduate degree.

  3. Students entering the program are required to have an understanding of mathematics equivalent to at least one year of university level mathematics including calculus and linear algebra, as well as an introductory level understanding of mathematical statistics and financial mathematics.

Domestic Tuition Fees (DTF)

For more information see: http://www.anu.edu.au/students/program-administration/costs-fees

Annual indicative fee for international students
$31,593.00

Scholarships

ANU offers a wide range of scholarships to current and future students to assist with the cost of their studies. The University is committed to enabling all students, regardless of their background, to achieve their best at ANU and realise their potential. 

Eligibility for ANU scholarships varies depending on the specifics of the scholarship and can be categorised by the type of student you are.  Specific scholarship application process information is included in the relevant scholarship listing.

For further information see the Scholarships website.

Program Requirements

The Master of Actuarial Practice requires the completion of 120 units , which must include:

66 units from completion of the following compulsory courses:

STAT6039 Principles of Mathematical Statistics (6 units)

STAT6043 Life Contingencies (6 units)

STAT6045 Actuarial Techniques (6 units)

STAT6046 Financial Mathematics (6 units)

STAT7018 Stochastic Modeling (6 units)

STAT7042 Survival Models (6 units)

STAT8035 Risk Theory (6 units)

STAT8036 Credibility Theory (6 units)

ACST8033 Control Cycle B (6 units)

ACST8040 Control Cycle A1 (6 units)

ACST8041 Control Cycle A2 (6 units)

 

12 units from completion of core courses from the following list:

ACST8047 Advanced Life Insurance (6 units)

ACST8048 Advanced General Insurance (6 units)

ACST8049 Advanced Global Retirement Income Systems (6 units)

FINM8006 Advanced Investments (6 units)

ACST8060 Enterprise Risk Management I (6 units)

ACST8061 Enterprise Risk Management II (6 units)

 

42 units from completion of elective courses from the following list:

BUSN7008 Financial Statements & Reporting (6 units)

ECON8069 Business Economics (6 units)

FINM7003 Continuous Time Finance (6 units)

FINM7006 Foundations in Finance (6 units)

FINM7007 Applied Corporate Finance (6 units)

FINM7008 Applied Investments (6 units)

FINM7041 Applied Derivatives (6 units)

ACST8050 Research Essay in Actuarial Studies (6-12 units)

Study Options

Year 1 48 units STAT6039 Principles of Mathematical Statistics 6 units STAT6046 Financial Mathematics 6 units FINM7006 Foundations of Finance 6 units BUSN7008 Financial Statements and Reporting 6 units
STAT6045 Actuarial Techniques 6 units FINM7007 Applied Corporate Finance 6 units STAT7018 Stochastic Modelling 6 units STAT6043 Life Contingencies 6 units
Year 2 48 units ACST8040 Control Cycle A1 6 units STAT8035 Risk Theory 6 units FINM7041 Applied Derivatives 6 units Advanced Course 6 Units
ACST8041 Control Cycle A2 6 units ACST8033 Control Cycle B 6 units STAT8036 Credibility Theory 6 units Advanced Course 6 Units
Year 3 ECON8069 Business Economics 6 units STAT7042 Survival Models 6 units FINM7008 Applied Investments 6 units FINM7003 Continuous Time Finance 6 units

Back to the Master of Actuarial Practice page

This degree will teach you how to apply your mathematical talent in understanding, measuring and managing the risks. It is designed for:

  • Students who want to extend their study to an advanced academic level with a view to possible PhD level study.Graduates of the Master of Actuarial Practice from ANU may progress to an Australian Qualifications Framework level 10 qualification (Doctoral Degree) subject to specific admission requirements.
  • Students with a good mathematics or statistics background but limited actuarial background who seek a 'conversion' option to develop the actuarial and other risk management skills to satisfy the Part I and II requirements of the Institute of Actuaries of Australia.
  • Students with an actuarial degree who seek to complete courses which are complementary to the Institute of Actuaries of Australia Part III requirements.
  • Students whose previous actuarial study was in a non-accredited program and who seek to complete their full professional studies through the ANU.

Single degree

  • This program requires 120 units (20 courses)
  • 11 compulsory courses (66 units)
  • 2 core courses (12 units)
  • 7 elective courses (42 units)

About this degree

Students must pass and achieve a grade average of 60% across the first 48 units attempted to progress to the second year of the program.

Enrolment Status

It is possible to enrol in fewer courses per semester but it will take you longer to finish your program and get your degree. If you are an international student you must always be enrolled full-time in 24 units each semester.

Remember you will need to enrol in courses for both First Semester and Second Semester.  You will be able to change your enrolment in courses up until the end of week 2 of each semester without penalty.


Electives

42 units (7 courses) from the prescribed courses offered by the ANU College of Business and Economics.

Study Options

Master of Actuarial Practice

Two and half year graduate coursework program: Students are able to attempt all of Part I exemptions and all of Part II exemptions. The study plan varies for students commencing Semester 2. Below is the study plan for students commencing Semester 1. If you enter the program at Semester 2, the first semester should be enrolled the following courses: ECON8069 Business Economics FINM7006 Foundations in Finance BUSN7008 Financial Statements & Reporting STAT6046 Financial Mathematics

Study Options

Year 1 48 units STAT6039 Principles of Mathematical Statistics 6 units STAT6046 Financial Mathematics 6 units FINM7006 Foundations of Finance 6 units BUSN7008 Financial Statements and Reporting 6 units
STAT6045 Actuarial Techniques 6 units FINM7007 Applied Corporate Finance 6 units STAT7018 Stochastic Modelling 6 units STAT6043 Life Contingencies 6 units

Academic Advice

Before applying for any credit or exemption towards the program, students (except the ANU students) should include an assessment of their qualification completed by Institute of Actuaries, Australia.

It is advisory that students discuss their course selection with the Program Convenor, Dr Bronwen Whiting. She is available between 2 - 4:30pm at the orientation week (14th -16th July 2014) at her office (Room 4.31, Building 26C). Please ensure you take a copy of your academic transcript with you when you meet with Dr Whiting.

Do you want to talk to someone before enrolling?

Contact info.cbe@anu.edu.au

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