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.

The Bachelor of Political Science is the only dedicated Political Science degree in Australia. The ANU has some of the world’s finest political scientists, and was the only Australian university to receive a 5 (“well above world class”) in both of the Excellence in Research for Australia’s reports. Located in the national capital, the ANU is the only university with a right to place interns in Australian Parliament House. The Bachelor of Political Science will give you the knowledge, theoretical understandings, and practical skills that underpin a successful career that engages with politics.

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 

1. apply concepts and theories used in the study of political science to the analysis of interests, ideas, institutions and behaviour and to the evaluation of political phenomena;

2. apply a range of research methods to the investigation of political phenomena;

3. demonstrate understanding of differences in political systems and the contexts in which they operate; and

4. communicate and debate both orally and in writing, and work with others, using a variety of media.

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. The ANU is also a designated Centre of Actuarial Excellence for the Society of Actuaries (US).

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. The ANU is also a designated Centre of Actuarial Excellence for the Society of Actuaries (US).

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.

Adjustment Factors

Adjustment factors are additional points added to an applicant's Selection Rank (for example an applicant's ATAR). ANU offers adjustment factors based on performance and equity principles, such as for high achievement in nationally strategic senior secondary subjects and for recognition of difficult circumstances that students face in their studies. 

Selection Rank adjustments are granted in accordance with the approved schedules, and no more than 15 (maximum 5 subject/performance-based adjustment factors and maximum 10 equity-based adjustment factors) can be awarded. 

You may be considered for adjustment factors if you have:

• applied for an eligible ANU Bachelor degree program
• undertaken Australian Year 12 or the International Baccalaureate
• achieved an ATAR or equivalent at or above 70
• not previously attempted tertiary study.

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

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

The 96 units must consist of:

24 units from completion of the following compulsory courses:

POLS1002 Introduction to Politics

POLS1009 Research and Writing in Political Science

POLS2044 Contemporary Political Analysis

POLS2119 Ideas in Politics

A minimum of 6 units must come from completion of courses from the following list:

EURO3002 Comparative European Politics

POLS3022 Washington DC Internship

POLS3029 Sharing Power: Federalism in Comparative Perspective

POLS3031 Comparative Judicial Politics

POLS3033 Environment, Human Security and Conflict

POLS3036 International Terrorism

POLS3038 Media and Politics

POLS3039 Political Leadership and Executive Government

POLS3040 Conflict and Change in Sub-Saharan Africa

A minimum of 12 units from completion of political theory and political philosophy courses from the following list:

PHIL1004 Fundamental Ideas in Philosophy: An Introduction

PHIL2020 Theories of Social Justice

PHIL2113 Global Justice

POLS2063 Contemporary Political Theory

POLS2102 Political Belief and Deceit

POLS2120 Foundations of Political Theory

A minimum of 12 units from completion of methodology courses from the following list:

ECON2141 Strategic Thinking: An Introduction to Game Theory

POLS2125 Game Theory and Social Sciences

POLS2130 Public Choice and Politics

POLS2137 Meaning in Politics: Interpretation, Method and Critique

POLS3045 Qualitative Methods in Political Science Research

SOCY2043 Introduction to Qualitative Research Methods

A minimum of 12 units from completion of Australian politics courses from the following list:

POLS2002 Public Policy: Theory and Practice

POLS2009 Bureaucracy, Politics and Power

POLS2111 Elections, Political Behaviour and Public Opinion in Australia

POLS2114 Australian Political Institutions

A minimum of 12 units from completion of comparative politics courses from the following list:

ASIA2065 Asian Politics: From Concepts to Causes

POLS2043 Pressure Groups and Political Lobbying

POLS2126 Democracy and Dictatorship

POLS2134 Gender and Politics

POLS2135 Race, Ethnicity and Representation

POLS3037 Globalisation: Communications, Culture and Democracy

A minimum of 6 units and a maximum of 12 units from the following cognate list:

ANIP3005 Australian National Internships Program B

DEMO2001 Understanding Population Change

DEMO3001 Population Policy Case Studies

HIST1209 Terror to Terrorism: A History              

HIST2227 Australian Political History      

HIST2022 Aboriginal and Torres Strait Islander History   

HIST2240 Democracy and Dissent: Europe Since 1945*  

*Please note that courses with asterisks are usually offered every second year.

A maximum of 6 units from completion of area studies courses from the following list:

ASIA2026 The Politics of China

ASIA2031 Japanese Politics

ASIA2049 Politics and Society in Contemporary Korea

ASIA2070 Democracy in Southeast Asia

ASIA2109 Violence, Poverty, and Politics in India

ASIA2516 Indonesia: Politics, Society and Development

EURO2012 Uniting Europe: History, Politics, Theory

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

POLS2031 Politics in the Middle East

POLS2055 Pacific Politics

POLS2069 Politics in Russia

POLS2095 Politics in Latin America

POLS2127 U.S. Politics

A minimum of 6 and maximum of 12 units from completion of political economy courses from the following list:

ASIA2090 Study Tour: The Political Economy of Myanmar

ECON2013 Behavioural Economics

ECON2060 Economic Reasoning for Government

MEAS2105 The Political Economy of the Middle East

POLS2011 Development and Change

POLS2094 Issues in International Political Economy

A maximum of 6 units from completion of internship/Vice-Chancellors courses from the following list:

ANIP3003 Australian National Internships Program A

VCUG2002 Leadership and Influence in a Complex World

VCUG3001 Unravelling Complexity

Minors

Bachelor of Actuarial Studies Minors

Study Options