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.

Follow in the footsteps of Nobel Prize winner Howard Florey and kick-start your career in medical research with the Bachelor of Medical Science.

You’ll delve into genetics, immunology, nutrition, physiology, microbiology, biochemistry and anatomy to understand how the human body works.

Learn directly from biomedical scientists and health professionals, who are working to develop new cancer vaccines or ground-breaking treatments for autoimmune diseases.

Find out more about medical science, the degree structure, the university experience, career opportunities and student stories on our website.

Get the inside story on what it’s like to be an ANU student by visiting our student blog.

This program is not available for Semester 2 commencement.

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.

Learning outcome Bachelor of Medical Science

Upon completion of this program, graduates will be able to:

• develop, apply, integrate and generate scientific knowledge in educational and professional contexts;
• use a range of skills and methods to identify, analyse and respond to problems and issues;
• convey and relate professional and disciplinary information and ideas to diverse audiences in effective and appropriate ways;
• work in both independent and collaborative ways with others to encompass diverse abilities and perspectives; and
• exercise personal, professional and social responsibility as a global citizen.

Learning outcomes Bachelor of Medical Science Honours Year

Upon completion of this program, graduates will be able to:

• Specific learning outcomes will depend on the nature of the research project. In general, on satisfactory completion of the program students will have the knowledge and skills to:
• Plan and engage in an independent and sustained critical investigation and evaluation of a research topic in the field of biomedical sciences
• Systematically identify relevant theory and concepts in the field of biomedical sciences, relate these to appropriate methodologies and evidence, and draw appropriate conclusions
• Engage in critical review of appropriate and relevant information sources
• Understand and apply principles of laboratory safety and relevant laboratory techniques.
• Communicate concepts and results clearly and effectively both in writing and orally
• Record original data and apply statistical or other evaluation processes to original data when appropriate

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.

If students take this program in a Flexible Double Degree with a Bachelor of Applied Data Analytics, you will need to replace overlapping STAT courses with later year FINM or STAT courses. 

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.

If students take this program in a Flexible Double Degree with a Bachelor of Applied Data Analytics, you will need to replace overlapping STAT courses with later year FINM or STAT courses. 

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 National Register of higher education providers is an authoritative source of information that will help you confirm your institution of choice is registered to deliver higher education in Australia.

The Quality Indicators for Learning and Teaching (QILT) website is HERE. Based on surveys done by thousands of students across Australia you can find out about universities that interest you, doing side-by-side comparisons.

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 an ATAR 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+)/Specialist Methods(Major/Minor) (160+), NSW: Mathematics Extension 1 (Band E3) or equivelant. More information about interstate subject equivalencies can be found here.

ACT: Chemistry (Major); NSW:  Chemistry or equivalent. More information about interstate subject equivalencies can be found here.

Students who do not meet the chemistry requirement may be admitted into the program via a different pathway. Students who:

• Have an ATAR score of 90 or higher, and

• Commence the Bachelor of Science program after completion of the chemistry bridging course available in February through the ANU Research School of Chemistry (or equivalent) and complete CHEM1101 and BIOL1003 with a minimum average of 65%, may then apply to transfer to the Bachelor of the Medical Science program.

Adjustment Factors

ANU offers rank adjustments for a number of adjustment factors, including for high achievement in nationally strategic senior secondary subjects and for recognition of difficult circumstances that students face in their studies. Rank adjustments are applied to Bachelor degree applicants with an ATAR at or above 70. Points are awarded in accordance with the approved schedules, and no more than 15 points (maximum 5 subject/performance-based adjustments, maximum 10 equity-based adjustments and maximum 5 Elite Athlete adjustments) will be awarded. Subject and performance-based adjustments do not apply to programs with a minimum selection rank of 98 or higher. Visit the ANU Adjustment Factors website for further 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 the FINM courses meet the requirements of the other degree), or overloading (i.e., taking more than the standard four courses in some semesters on non-award basis which means you will need to pay full fees for the courses you are overloading) 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 University Wide Elective or CBE List 1 course. Please note that you cannot exceed 8 out of college electives.

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 Medical Science flexible double degree component requires completion of 96 units, of which:

A maximum of 30 units may come from completion of 1000-level courses

The 96 units must include:

60 units from completion of the following compulsory courses:

BIOL1003 Evolution, Ecology & Genetics

BIOL1004 Molecular & Cell Biology

BIOL2142 General Microbiology

BIOL2161 Genes: Replication and Expression

BIOL2171 Biochemistry and Nutrition

BIOL3006 Human Physiology

BIOL3141 Infection and Immunity

BIOL3190 Medical Science in the Workplace

CHEM1101 Chemistry 1

CHEM1201 Chemistry 2

6 units from completion of courses from the following list:

BIAN3014 Research Design and Analysis in Biological Anthropology

BIOL2001 Introduction to Quantitative Biology

BIOL2202 Experimental Design and Analysis in Biology

ENVS1003 Introduction to Environment and Social Research

PSYC2009 Quantitative Methods in Psychology

12 units from completion of courses from the following list:

BIOL2117 Cell Biology

BIOL2151 Genetics

BIOL2162 Molecular Gene Technology

BIOL2174 Cell Physiology in Health and Disease

18 units from completion of courses from the following list:

BIOL3107 Advances in Medical and Plant Biochemistry

BIOL3108 Hallmarks of Cancer

BIOL3142 Parasitology

BIOL3144 Advanced and Applied Immunology

BIOL3161 Genomics and its Applications

BIOL3186 Human Anatomy

BIOL3191 Biology, Society and Ethics

BIOL3193 Bacteria and Health: an Ecological and Evolutionary Perspective

BIOL3203 Histology and Advanced Microscopy

BIOL3204 Genetics of Human Disease 1

BIOL3205 Genetics of Human Disease 2

BIOL3208 Biology Research Projects

BIOL3209 Biology Research Projects (12u)

NEUR3101 Cellular Neuroscience

NEUR3112 Sensory Neuroscience

POPH3000 Introduction to Population Health

Students must achieve a minimum 65% weighted average mark across all compulsory courses in the Bachelor of Medical Science component undertaken in each period (Summer/First Semester/Autumn and Winter/Second Semester/Spring) in order to continue in the Bachelor of Medical Science.

Students who do not achieve a minimum of 65% weighted average mark will be transferred from the Bachelor of Medical Science double degree to the equivalent Bachelor of Science double degree.

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

The minimum requirements for admission to Honours program are:

1. the successful completion of 144 units including a minimum of 48 units of 2000 level science or 3000 level science courses relevant to the proposed field of Honours study, of which a minimum of 24 units must be 3000 level science courses

2. the attainment of an average of 2 for the 48 units, where HD = 4, D = 3, CR = 2, P = 0

3. the recommendation of the Head of School concerned, in the light of availability of resources and appropriate supervision.

Schools may have additional entry requirements and intending Honours students should contact the relevant Honours convener.

The work of the Honours year consists of advanced work in a selected field of study, details of which are provided by the individual Schools. The Honours program has specific dates which are advertised in the Honours Handbook. If you complete the requirements for the pass degree at the end of the first semester it is possible, subject to the approval of the School concerned, to commence the Honours program mid-year.

Graduates of other universities may be accepted for admission to Honours candidature provided that the undergraduate program and performance in the program are of a standard comparable to that applying in the relevant School.