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 a wide variety of areas. With an ANU Bachelor of Actuarial Studies you can excel in 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 these risks.

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

With a myriad of majors and minors, craft a science degree that is uniquely yours with the ANU Bachelor of Science.

You’ll have the opportunity to experiment in our state-of-the-art laboratories while being mentored by leading scientists. You’ll have the flexibility to go on fieldtrips, take your studies overseas, or try an internship.

Whether your passion lies in marine science or mathematics, physics or psychology, you’ll be able to explore your interests and follow your passions with our most flexible science degree.

Find out more about our science study areas, 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.

Employment Opportunities

Actuaries work in a wide variety of areas, often in positions of seniority in a business. Examples of the job titles associated with actuarial studies are listed below:

Investment analyst

Trained to analyse the activities and future prospects and earnings of companies and securities for the purpose of investment.

Investment manager

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

Engaged by holders of liabilities, such as insurance companies, banks or superannuation funds, to advise on appropriate payment strategies and organisational structures to meet a stream of obligations.

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.

Data analyst

Processes and investigates large of amounts of data for or on behalf of organisation, in order to solve business problems and take advantage of business opportunities.

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.

Actuaries work in a wide variety of areas, often in positions of seniority in a business. Examples of the job titles associated with actuarial studies are listed below:

Investment analyst

Trained to analyse the activities and future prospects and earnings of companies and securities for the purpose of investment.

Investment manager

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

Engaged by holders of liabilities, such as insurance companies, banks or superannuation funds, to advise on appropriate payment strategies and organisational structures to meet a stream of obligations.

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.

Data analyst

Processes and investigates large of amounts of data for or on behalf of organisation, in order to solve business problems and take advantage of business opportunities.

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

1. utilise concepts in financial mathematics, including the time value of money, annuities, bond and loan calculations
   
2. interpret the accounts and financial statements of companies and financial institutions.
   
3. describe the fundamental concepts of micro and macroeconomics.
   
4. apply mathematical statistics, regression modeling and other statistical techniques to actuarial problems
   
5. describe and apply stochastic processes, survival models and their application in actuarial contexts
   
6. model and value cashflows dependent on death, survival, illness, retirement, and other contingencies
   
7. apply risk modelling techniques across a variety of financial contexts 

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

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

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

Accreditation

The Bachelor of Actuarial Studies enables students to undertake a sequence of accredited courses that satisfy certain educational requirements of the Actuaries Institute. For more information on accreditation visit the ANU Actuaries Institute exemption policy page.

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

Students commencing this program in Semester 2 can see the study plan here. Study Plans for Commencing Semester 1 or 2

Electives

Students have 48 units of electives in a single degree program. No more than 10 courses at 1000 level.

Accreditation

The Bachelor of Actuarial Studies enables students to undertake a sequence of accredited courses that satisfy certain educational requirements of the Actuaries Institute. For more information on accreditation visit the ANU Actuaries Institute exemption policy page.

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

Students commencing this program in Semester 2 can see the study plan here. Study Plans for Commencing Semester 1 or 2

Electives

Students have 48 units of electives in a single degree program. No more than 10 courses at 1000 level.

Admission Requirements

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.

There are no formal program prerequisites and many first-year science courses assume little specific knowledge. The exceptions are: 

• For many of the biology majors, chemistry is a requirement, therefore it is recommended that students have at least an ACT minor (but preferably a major) in chemistry, or successful completion of a bridging course in chemistry, or multistrand science in NSW, or equivalent. Chemistry is essential for all later-year courses in the biological streams of biochemistry and cell biology, microbiology and immunology, molecular genetics, animal and human physiology, and some parts of botany and neuroscience. A bridging course is available in February details can be obtained through science.enquiries@anu.edu.au
• CHEM1101: ACT major in Chemistry, or successful completion of a bridging course in chemistry, or multistrand science in NSW, or equivalent, is required. Chemistry is essential for all later-year courses in chemistry. A bridging course is available in February details can be obtained through science.enquiries@anu.edu.au
• MATH1003: Assumed knowledge: ACT Mathematical Methods (major)/Further Mathematics/Specialist Mathematics (major)/ Specialist Methods or NSW HSC Mathematics or equivalent 
• MATH1005: ACT Mathematical Methods (major)/Further Mathematics/Specialist Mathematics (major)/ Specialist Methods or NSW HSC Mathematics or equivalent 
• MATH1013: A satisfactory pass in ACT Specialist Mathematics Major - Minor or NSW HSC Mathematics Extension 1 or equivalent. Students with a good pass in ACT Mathematical Methods or NSW HSC Mathematics or equivalent will be considered 
• MATH1115: A satisfactory pass in ACT Specialist Mathematics double major or NSW HSC Mathematics Extension 2 or equivalent. Students with excellent marks in either ACT Specialist Mathematics major-minor or NSW HSC Mathematics Extension 1 or equivalent may be permitted to enrol 
• PHYS1101: There is a corequisite of MATH1013/1115. See the entries above. There is no formal physics prerequisite but preparation is assumed and recommended. Recommended preparation is - NSW: a high standard in 2 unit physics or a multistrand science; ACT: a high standard in physics (major). 

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. Please note that Adjustment Factors vary and do not apply to a select few programs,  please 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

STAT2013 Introductiory Mathematical Statistics for Actuarial Studies

STAT2005 Introduction to Stochastic Processes

STAT2014 Regression Modelling for Actuarial Studies

STAT2032 Financial Mathematics

STAT3032 Survival Models

STAT3057 Risk Modelling 1

STAT3058 Risk Modelling 2

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)

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

MATH1013 Mathematics and Application 1

MATH1115 Advanced Mathematics and Application 1

MATH1113 Mathematical Foundations for Actuarial Studies

6 units from the completion of courses on List 1 or List 4 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 Foundation Program 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 the Foundation Program. 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, CBE List 1 course or CBE List 4 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.

The courses on List 4 are equivalent to the university-offered courses under the Actuaries Institute Actuary Program, noting the following:

• The courses can only be enrolled in by students taking a flexible double degree combining a Bachelor of Actuarial Studies and another degree that contains sufficient overlap in courses to free up sufficient elective space.
• Examples of flexible double degrees where these courses can be fit into the degree are the Bachelor of Commerce, Bachelor of Finance and Bachelor of Statistics (this list is not exhaustive).
• These courses have strict academic entry requirements. Further information on entry requirements into these courses can be found on the links to the course pages linked from the List 4 webpage.
• Students considering including List 4 courses into their degree should contact the program convener for further information on study plans, as it is necessary to move courses in the Bachelor of Actuarial Studies to earlier semesters than that of the study plan below, in order to meet the requisites of the List 4 courses.

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

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

A minimum of 30 units must come from completion of 3000-level courses from the Science course list

A minimum of 96 units must come from completion of courses from the Science course list

The 96 units must include:

48 units from completion of one of the following Science majors:

Astronomy and Astrophysics
Biochemistry
Biological Anthropology
Cell & Molecular Biology
Chemistry
Computer Science
Earth Science
Environmental Science
Evolution, Ecology and Organismal Biology
Geography
Human Biology
Human Evolutionary Biology
Marine Science
Mathematical Economics
Mathematical Finance
Mathematical Modelling
Mathematics
Resource and Environmental Management
Physics
Psychology
Quantitative Biology
Quantitative Environmental Modelling
Science Communication
Statistics
Sustainability Studies
Water Science
 

Either:

24 units from the completion of one of the following Science minors / specialisations:

Abnormal Psychology Minor
Advanced Chemistry Specialisation
Advanced Mathematics Specialisation
Advanced Physics Specialisation
Advanced Quantitative Biology and Bioinformatics Specialisation
Applied Statistics Minor
Astronomy and Astrophysics Specialisation
Biology Minor
Biochemistry Specialisation
Biodiversity Conservation and Management
Biological Anthropology Minor
Biological Neuropsychology Minor
Biomedical Science Specialisation
Chemistry Minor
Climate Science and Policy Minor
Cognitive Psychology Minor
Computer Science Minor
Developmental Psychology Minor
Earth and Marine Science Minor
Earth Physics Specialisation Minor
Environmental Geology Specialisation
Environmental Policy Minor
Evolution and Ecology Specialisation
Forest Science and Policy Minor
Genetics Specialisation
Geochemistry and Petrology Specialisation
Geography Minor
Geophysics and Geology Specialisation
Human Ecology Minor
Mathematical Physics Specialisation
Mathematics Minor
Microbiology and Immunology Specialisation
Neuroscience and Physiology Specialisation
Optics Specialisation
Philosophy and Science Minor
Physics Minor
Plant Science Specialisation
Professional Science Engagement Specialisation
Psychology Specialisation
Science Communication Minor
Social Psychology Minor
Soil and Land Management Minor
Sustainable Development Minor
Water Science and Policy Minor

24 units from completion of courses from the Science course list

Or:

48 units from completion of a second Science majors, listed above

A maximum of 12 units from completion of 1000-level courses may contribute towards meeting the requirements of two Science majors with common 1000-level course requirements.

In such cases, an equal number of units must come from the completion of additional courses from the Science course list.

Majors

Bachelor of Science Majors

Minors

Bachelor of Science Minors

Bachelor of Actuarial Studies Minors

Specialisations

Bachelor of Science Specialisations

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