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.

Digital + Material

Innovation + Engagement

Combine cutting-edge digital practices with internationally-renowned art and craft studio disciplines in the Bachelor of Design.

Design students will benefit from deep immersion in digital, manual and theoretical studies and a wide overview of creative practices. From coding, to making, to manufacture, students apply hands-on design to digital and physical materials. Students delve into web design, data visualisation, and interaction design, and experiment in studios to develop expertise in the latest digital form and fabrication processes.

This degree prepares students with transferable knowledge and skills required to make their mark on a rapidly changing world.

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. demonstrate skills and knowledge of the practices, languages, forms, materials and technologies in their relevant discipline;
2. research, develop and evaluate design concepts and processes by thinking creatively, critically and reflectively;
3. apply skills and knowledge to the creation, visualisation and production of design projects;
4. work independently and collaboratively on design projects and respond to project demands;
5. interpret, communicate and present ideas, problems and arguments in modes suited to a range of audiences; and
6. recognise and reflect on social, cultural technological, environmental and ethical issues of creative practice and design considering local and international perspectives.

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.

Electives

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

Assessing Degree Transfer Requests:

Students wishing to transfer into the Bachelor of Actuarial Studies are assessed using the following criteria:

• Students with less than 48 units of study at ANU will be assessed based on their application to study at the university.
• Students with at least 48 units of study at ANU will have to achieve an appropriate GPA and have completed both MATH1013 and MATH1014 (with an average mark of at least 75) or MATH1113 (with a mark of at least 70) or both MATH1115 and MATH1116 (with an average mark of at least 65).

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.

Electives

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

Assessing Degree Transfer Requests:

Students wishing to transfer into the Bachelor of Actuarial Studies are assessed using the following criteria:

• Students with less than 48 units of study at ANU will be assessed based on their application to study at the university.
• Students with at least 48 units of study at ANU will have to achieve an appropriate GPA and have completed both MATH1013 and MATH1014 (with an average mark of at least 75) or MATH1113 (with a mark of at least 70) or both MATH1115 and MATH1116 (with an average mark of at least 65).

Admission Requirements

Prerequisites

ACT:

Required:

Mathematical Methods (Major) / Further Mathematics (Major) / Specialist Mathematics (Major) / Specialist Methods (Major)

Recommended:

Specialist Mathematics/Specialist Methods (Major/Minor)

NSW:

Required:

Mathematics Advanced or equivalent

Recommended:

Mathematics Extension 1 or equivalent

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:

78 units from completion of the following compulsory courses:

ACST3032 Actuarial Data Analysis

BUSN1001 Business Reporting and Analysis

ECON1101 Microeconomics 1

STAT1008 Quantitative Research Methods

STAT2013 Introductory 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:

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 non-award study (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 Design flexible double degree component requires completion of 96 units, of which:

A maximum of 42 units may come from completion of 1000-level courses

The 96 units must include:

36 units from completion of the following compulsory courses:

DESN1002 Visual Communication: Design and Production

DESN1003 Contemporary Design in Context

DESN1004 The Past as Prototype: History, Ethics and Concepts for Design in the Twenty-First Century

DESN2008 Design Thinking: Human-Centred Design Methodologies

DESN3010 Design Studio: Independent Practice

DESN3011 Design Studio: Engagement and Collaboration

A minimum of 6 units from the completion of foundation courses from the following recommended list

ARTV1020 Figure and Life

ARTV1033 Hold Everything: Studio Foundation

ARTV1034 Foundations of Contemporary Arts Practices

DESN1005 Precise Drawing and Model Making

Or any other 1000 level ARTV course.

A minimum of 12 units from the completion of interdisciplinary concepts and theories courses from the following list:

ANTH1002 Culture and Human Diversity: Introducing Anthropology 

ANTH1003 Global Citizen: Culture, Development and Inequality 

ANTH2005 Traditional Australian Indigenous Cultures, Societies and Environment 

ANTH2009 Culture and Development 

ANTH2017 Culture, Social Justice and Aboriginal Society Today 

ANTH2025 Gender in Cross-Cultural Perspective 

ANTH2026 Medicine, Healing and the Body 

ANTH2132 Food for Thought: Anthropological Theories of Food and Eating 

ANTH2134 States and Citizens: Anthropological Perspectives 

ARTH1006 Art History and Curatorial Studies 1: Cultures and Meaning

ARTH1007 Art History and Curatorial Studies 2: Vision and Materiality

ARTH2001 Art History and Curatorial Studies In-Country 

ARTH2050 Photography and Art 

ARTH2052 Art of the Multiple 

ARTH2180 Fashion Histories

ARTH2098 Australian First Nations Art and Culture 

ARTH2167 Issues in Contemporary Craft and Design  

ARTH2169 Introducing Asian Modernisms

ARTH2170 Contemporary Asian Art 

ARTH2174 Art and the Body: Gender and Sexuality

ARTH2176 Cross Currents in Australian First Nations and Non-Indigenous Art and Culture 

ARTH3005 Art, Racial Politics, and the Public Sphere 

ARTH3057 Art and Politics of Collecting 

ENVS1001 Environment and Society: Geography of Sustainability 

ENVS1003 Introduction to Environmental and Social Research 

ENVS1004 Australia’s Environment 

ENVS1008 Sustainable Development 

GEND1001 Sex, Gender and Identity: An Introduction to Gender Studies 

GEND1002 Reading Popular Culture: An Introduction to Cultural Studies 

GEND2023 Gender, Sex and Sexuality: An Introduction to Feminist Theory 

GEND2034 Going Public: Sex, Sexuality and Feminism 

GEND2036 Excessive Appetites: Sociocultural Perspectives on Addiction and Drug Use 

GEND2057 Relationships, Marriage and Family 

HUMN1001 Digital Culture: Being Human in the Information Age 

HUMN2001 Introduction to Digital Humanities and Public Culture - Tools, Theories and Methods 

INDG1001 Country, Kinship and Continuities: An Introduction to Australian Indigenous Studies 

INDG1002 Resilience, Rights and Resurgence

INDG2001 Indigenous Cultural and Natural Resource Management 

MEDN2222 Exquisite Corpse - Insight into the Human Body 

PHIL1004 Fundamental Ideas in Philosophy: An Introduction 

PHIL1005 Logic and Critical Thinking 

PHIL1008 Introduction to Ethics 

PSYC1003 Psychology 1: Understanding Mind, Brain and Behaviour 

PSYC1004 Psychology 2: Understanding People in Context 

PSYC1005 The Wellbeing Formula: The Science and Practice of Making a Good Life 

SOCY1002 Self and Society 

SOCY1004 Economy and Society: Work, Care and Identity

SOCY1006 Society and Technological Change 

A minimum of 24 units from completion of design courses from the following list: 

DESN2001 Digital Form and Fabrication 

DESN2002 Foundations of Creative Code 

DESN2003 Creative Data Visualisation: Representing Data in Visual and Material Form 

DESN2004 Autonomous Agents

DESN2006 Front-End Web: Crafting Online Experience 

DESN2007 Design Fiction: Speculative and Critical Design 

DESN2009 Typography in Context: Digital Typographic Design 

DESN2010 Making Creative and Critical Technologies: Physical Computing for Art and Design 

DESN2012 The Ethics of Making: Design for Reuse and Repair 

DESN2015 Supporting Bodies: Now that we're here, where do we sit?

A maximum of 18 units from completion of studio courses listed in the:

Visual Arts Practice Minor

Minors

Bachelor of Actuarial Studies Minors

Bachelor of Design Minors

Study Options