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 Bachelor of Actuarial Studies 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.

Can you see yourself jet-setting the globe with a career in trade, foreign affairs, journalism, international business or research? You have found the right degree.

ANU is a leader in the field of International Relations.

Our program will introduce you to International Relations, initially via the broad historical and intellectual framework which has framed the modern world of states since the 17th century. It will then concentrate on the 20th century, the age of World Wars and the Cold War, before addressing contemporary issues, the age of global political economy, global culture and communication, global environmental concerns and post-Cold war political conflict, including the 'War on Terror'.

With our flexible program you can extend your chosen language subject into a major, and have the opportunity to go on exchange or an international/national internship.

Employment Opportunities

There are many attractive career opportunities for fully qualified actuaries in Australia. Some of the job titles associated with actuarial studies are listed below:

Investment analyst
A financial expert trained to analyse the activities and future prospects and earnings of companies and securities for the purpose of investment.

Fund administrator/investment manager
A person employed by an organisation that specialises in the investment of a portfolio of securities on behalf of individuals and/or organisations subject to the guidelines and directions of the investor.

Liability manager
A professional person engaged by holders of liabilities, such as banks or industry superannuation funds, to advise on appropriate payment strategies and organisational structures to meet a stream of obligations.

Actuarial insurance broker
An independent agent who values life, fire, accident and other forms of insurance for a range of insurance companies.

Consultant
Offer their professional services for a fee, provide a wide range of services, including; advice on financial decisions, independent valuations, design of insurance funds, and future financial planning strategies.

Senior manager
In addition to the roles described above, many actuaries successfully move into high-level administrative and management positions. Their broad training reflects the strong interdisciplinary nature of the actuarial profession, which mixes the need for strong theoretical skills with the need for sound practical intuition.

There are many attractive career opportunities for fully qualified actuaries in Australia. Some of the job titles associated with actuarial studies are listed below:

Investment analyst
A financial expert trained to analyse the activities and future prospects and earnings of companies and securities for the purpose of investment.

Fund administrator/investment manager
A person employed by an organisation that specialises in the investment of a portfolio of securities on behalf of individuals and/or organisations subject to the guidelines and directions of the investor.

Liability manager
A professional person engaged by holders of liabilities, such as banks or industry superannuation funds, to advise on appropriate payment strategies and organisational structures to meet a stream of obligations.

Actuarial insurance broker
An independent agent who values life, fire, accident and other forms of insurance for a range of insurance companies.

Consultant
Offer their professional services for a fee, provide a wide range of services, including; advice on financial decisions, independent valuations, design of insurance funds, and future financial planning strategies.

Senior manager
In addition to the roles described above, many actuaries successfully move into high-level administrative and management positions. Their broad training reflects the strong interdisciplinary nature of the actuarial profession, which mixes the need for strong theoretical skills with the need for sound practical intuition.

Learning Outcomes

• To develop a grounding in financial mathematics and applications, including the time value of money, annuities, bond and loan calculations
• To develop the ability to interpret the accounts and financial statements of companies and financial institutions.
• To develop a grounding in mathematical statistics and regression modeling
• To develop a grounding in stochastic processes, survival models and their application in actuarial contexts
• To develop a grounding in the mathematical techniques used to model and value cashflows dependent on death, survival, illness, retirement, and other contingencies.
• To develop a grounding in the advanced mathematics which has particular relevance to financial work, including risk theory, bayesian statistics, generalized linear modeling, and time series techniques.
• To develop a grounding in the fundamental concepts of micro and macroeconomics.

Upon successful completion of a Bachelor of International Relations, graduates will be able to:

1. Identify the principal theoretical approaches to the study of international relations, and the relationships between them;
2. Have a thorough understanding of the historical development of the global system;
3. Demonstrate an understanding of the principal actors in contemporary global politics and the challenges they face;
4. Understand the principal factors that determine the foreign policies of major powers and of Australia;
5. Reflect critically on the knowledge and skills developed in their study of International Relations.

Professional Accreditation

To meet Part I of the professional requirements of the Actuaries Institute  you must complete eight Core Technical (CT) subjects that correspond with 14 to 15 ANU courses which are accredited by the Institute. An average grade of 60 per cent must be achieved across the ANU courses corresponding with each CT subject in order to be recommended for the Part I exemptions. Further information on the ANU Part I exemption policy can be found here. Part II requirements of the Institute can be met by an additional fourth year of study in the College, usually in the form of an honours year. Interested students should contact the ANU College of Business and Economics. For further information about the Actuaries Institute visit: www.actuaries.asn.au.

Further Information

Electives: 

Students have 48 units of electives in a single degree program. Electives can be selected from CBE or other Colleges. No more than 10 courses at 1000 level.

Students wish to undertake an out of college elective may contact the relevant College directly.

Student Responsibility:

It is the student's responsibility to select electives in such a way that:

• they satisfy prerequisites for the corresponding course/s.
• they conform to the rules set out in Programs and Courses or if unsure seek advice from the CBE office.

It is the student's responsibility to select the courses appropriate for his/her program.

Study Plans:

Study Plans for Commencing Semester 1 or 2

Electives: 

Students have 48 units of electives in a single degree program. Electives can be selected from CBE or other Colleges. No more than 10 courses at 1000 level.

Students wish to undertake an out of college elective may contact the relevant College directly.

Student Responsibility:

It is the student's responsibility to select electives in such a way that:

• they satisfy prerequisites for the corresponding course/s.
• they conform to the rules set out in Programs and Courses or if unsure seek advice from the CBE office.

It is the student's responsibility to select the courses appropriate for his/her program.

Study Plans:

Study Plans for Commencing Semester 1 or 2

Admission Requirements

Admission to all programs is on a competitive basis. Admission to undergraduate degrees is based on meeting the ATAR requirement or an equivalent rank derived from the following qualifications:

• An Australian year 12 qualification or international equivalent; OR
• A completed Associate Diploma, Associate Degree, AQF Diploma, Diploma, AQF Advanced Diploma, Graduate Certificate or international equivalent; OR
• At least one standard full-time year (1.0 FTE) in a single program of degree level study at an Australian higher education institution or international equivalent; OR
• An approved tertiary preparation course unless subsequent study is undertaken.

Click HERE for further information about domestic admission.

More information about ATAR requirements for individual programs can be found HERE.

The table below is a guide to the entry level required for domestic applicants. Exact entry level will be set at time of offer.

Domestic applicant entry requirements

Queensland Band equivalents are a guide only - selection is made on a UAI equivalent that is not available to students.

International applicant entry requirements

International applicants may view further information on admissions requirements at Entry Requirements for International Undergraduate Applicants

The University reserves the right to alter or discontinue its programs as required.

Prerequisites

ACT: Specialist Mathematics (major/minor) (160+) Recommended Studies:  Specialist Mathematics (double major)
NSW: HSC Mathematics Extension 1 (Band E3) Recommended Studies: HSC Mathematics Extensions 2
QLD: Mathematics B and Mathematics C, with a grade of 'H' in each
SA/NT: Mathematics 1 (Double) and Mathematics 2 with a score of at least 15/20 in both subjects
TAS: Mathematics Stage 2 and Mathematics Stage 3 with a score of at least 15/20 in both subjects
VIC: Mathematical Methods 3&4 and Specialist Mathematics 3/4 with at least 36/50 in each subject
WA: Applicable Mathematics and Calculus with a score of at least 72/100
IB: Mathematics (HL) with at least 6

Adjustment Factors

The National Access Scheme 2014

ANU offers bonus points for nationally strategic senior secondary subjects, and in recognition of difficult circumstances that students face in their studies. 

Bonus points are applied to all applicants with an ATAR at or above 70. Points are awarded in accordance with the approved schedule, and no more than 10 points (maximum 5 academic points and maximum 5 equity points) will be awarded.

Bonus points do not apply to programs with an ATAR cutoff of 98 or higher.

Bonus Points are only awarded to domestic applicants applying for admission through UAC who have not previously attempted tertiary study.

How to apply

Academic Bonus Points: senior secondary students do not need to apply for ANU academic bonus points. They are automatically added in accordance with the schedule.

Educational Access Scheme: senior secondary students do not need to apply if their school is part of the Priority School Funding Program or Country Areas Program. All other applicants should refer to http://www.uac.edu.au/eas/  for more information.

Scholarships

ANU offers a wide range of scholarships to students to assist with the cost of their studies.

Eligibility to apply 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 Bachelor of Actuarial Studies flexible double degree component requires completion of 96 units, of which:

A maximum of 48 units may come from completion of 1000-level courses

The 96 units must include:

72 units from completion of the following compulsory courses:

BUSN1001 Business Reporting and Analysis

ECON1101 Microeconomics 1

STAT1008 Quantitative Research Methods

STAT2001 Introductory Mathematical Statistics

STAT2005 Introduction to Stochastic Processes

STAT2008 Regression Modelling

STAT2032 Financial Mathematics

STAT3032 Survival Models

STAT3035 Risk Theory

STAT3036 Credibility Theory

STAT3037 Life Contingencies

STAT3038 Actuarial Techniques

6 units from completion of a course from the following list:

ECON1100 Economics 1 (H)

ECON1102 Macroeconomics 1

6 units from completion of a course from the following list:

ECON2102 Macroeconomics 2 (P)

ECON2016 Economics II (H)

ECON2112 Macroeconomics 2 (H)

12 units from the completion of courses on List 1 of the ANU College of Business and Economics.

Students may choose to take two MATH courses instead of MATH1113. The options are MATH1013 / MATH1014 or MATH1115 / MATH1116. MATH1013 / MATH1014 is recommended for students with the bare minimum of mathematical background for the Bachelor of Actuarial Studies or for those not confident in their mathematical ability. MATH1115 / MATH1116 is a higher level of MATH1013 / MATH1014 and is recommended for those who are considering further mathematical study. Should two MATH courses be chosen, the elective course position would need to be used for the additional MATH course.

In the requirements of the Bachelor of Actuarial Studies above it is not possible to gain full exemptions from Actuaries Institute Part I requirements as the required FINM courses are not included. However, by including these FINM courses in the other flexible double degree (if allowed), or overloading (i.e., taking more than the standard four courses in some semesters) or by using the College of Business and Economics Summer School Program (if available), students may be able to complete their exemptions from Part I. To facilitate either of these options, it is recommended that students undertake FINM1001 Foundations of Finance as their elective course.

If your flexible double degree is within the College of Business and Economics (for example Commerce and Economics), the suggested study plan may show the same course twice. If this is the case, you must only do the course once and replace the other course with a CBE List 1 course.

The minor in Business and Economics Essentials will not be listed on transcripts for students completing the Bachelor of Actuarial Studies.

For majors and minors offered by the ANU College of Business and Economics, students may count a course towards multiple majors and minors. If a minor is a subset of all stated courses and/or prerequisites for a major, then completion of the major overrides completion of the minor, and only the major is regarded as having been completed. If all courses in a major and/or minor are compulsory courses in the degree, the major and/or minor will not be listed on the transcript.

The Bachelor of International Relations flexible double degree component requires completion of 96 units, of which:

A maximum of 36 units may come from completion of 1000-level courses

The 96 units must include:

36 units from completion of the following compulsory courses:

POLS1005 Intro to International Relations: Foundations and Concepts

POLS1006 Intro to International Relations: Contemporary Global Issues

POLS2094 Issues in International Political Economy

POLS2133 International Organizations in World Politics

POLS3001 Foreign Policy Analysis: Understanding Global and Australian Foreign Policy Decision-Making

POLS3017 International Relations Theory

A minimum of 6 units from the following theory courses:

POLS2063 Contemporary Political Theory

POLS2102 The Political Philosophy of Deception

POLS3032 The Politics of Empire

POLS2119 Ideas in Politics

POLS2120 Foundations of Political Theory

A minimum of 6 units from the following methods courses:

POLS2125 Game Theory and Social Science

POLS3025 Contemporary Political Analysis

POLS3028 Researching and Writing Human Rights

SOCY2038 Introduction to Quantitative Research Methods

SOCY2043 Introduction to Qualitative Research Methods

A minimum of 12 units from the following areas studies courses:

ASIA2109 Politics of South Asia

EURO1004 Europe in the Modern Era

EURO2003 European Union: Policies, Institutions and Challenges

INTR2010 International Relations of the Asia-Pacific

INTR2028 Southeast Asia: ASEAN and Regional Order

MEAS1001 Introduction to the Modern Middle East

MEAS2001 New States of Eurasia: Emerging Issues in Politics and Security

MEAS2105 The Political Economy of the Middle East

POLS1007 An Introduction to Latin American Studies

POLS2095 Politics in Latin America

POLS2117 The International Relations of Latin America

A minimum of 6 units from the following security courses:

INTR2012 China's New Approaches to Asia Pacific Security

INTR2014 Indian Foreign and Security Policy

INTR2016 US Security Policy in Asia

INTR2018 Japan's Security Dilemmas

INTR2020 Security and Stability on the Korean Peninsula

INTR2024 Nuclear Politics in Asia: Challenges and Opportunities

POLS2099 Cartographies of Security: Critical Security Studies and International Politics

POLS2123 Peace and Conflict Studies

POLS2124 Politics of Nuclear Weapons

POLS2131 Security Communities: From War to Peace

POLS3033 Environment, Human Security and Conflict

POLS3036 International Terrorism

STST1001 Introduction to International Security Studies

STST2001 International Security Issues in the Asia Pacific

STST3001 Transnational Security Issues in the Asia-Pacific

STST2003 Security in the South Pacific: Is it Australia's "Arc of Instability"?

STST3002 Australia's Security in the Asian Century

A minimum of 6 units from the following global politics courses:

HIST2136 World at War, 1939-1945

HIST2141 The Cold War: 1945-1989

HIST2240 Democracy and Dissent: Europe Since 1945

PHIL2113 Global Justice

POLS2011 Development and Change

POLS2064 Global Social Movements

POLS2096 Genocide Studies

POLS2100 Genocide Post-1945

POLS2101 Refugee Politics: Displacement and Exclusion in the Twentieth and Twenty-First Centuries

POLS2113 Human Rights

SOCY2030 Sociology of Third World Development

A maximum of 12 units from the following internships and Vice Chancellors courses:

ANIP3003 Australian National Internship A

ANIP3005 Australian National Internship B

VCUG1001 The Art of Computing

VCUG2001 Creating Knowledge

VCUG2002 Leadership and Influence in a Complex World

VCUG3001 Unravelling Complexity

VCUG3002 Mobilising Research

A maximum of 24 units from courses in the following language minors

Advanced French Studies

Advanced German Studies

Advanced Hispanic Culture

Advanced Hispanic Linguistics

Advanced Italian Studies

Advanced Spanish Studies

Ancient Greek

Arabic

Chinese Language

Classical Chinese

French Language and Culture

German Language and Culture

Hindi Language

Indonesian Language

Italian Language and Culture

Japanese Language

Japanese Linguistics

Korean Language

Latin

Russian

Persian

Sanskrit Language

Spanish

Thai Language

Urdu Language

Vietnamese Language

Minors

Bachelor of International Relations Minors

Study Options

Honours

Students may proceed to an additional honours year in Actuarial Studies. Entry to the honours year program is subject to an appropriately high average grade (generally distinction level or above) in the 3000-level compulsory subjects described in the course listings and requires the approval of College. Other conditions may also apply. Students who are interested in the honours program should seek further advice from the Convenor of the Actuarial Program in the Research School of Finance, Actuarial Studies and Applied Statistics

Students undertaking honours will be able to meet the Actuaries Institute Part II requirements

For information about honours, please see Bachelor of International Relations (Honours)