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.

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

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. 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; and

5. reflect critically on the knowledge and skills developed in their study of International Relations.

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 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:

24 units from completion of the following compulsory courses:

POLS1005 Introduction to International Relations: Foundations and Concepts

POLS1006 Introduction to International Relations: Contemporary Global Issues

POLS2094 Issues in International Political Economy

POLS3001 Foreign Policy Analysis

A minimum of 6 units from the following theory courses:

POLS2063 Contemporary Political Theory

POLS2102 Political Belief and Deceit

POLS2119 Ideas in Politics

POLS3017 International Relations Theory

POLS3032 The Politics of Empire

A minimum of 6 units from the following methods courses:

POLS1009 Research and Writing in Political Science

POLS2044 Contemporary Political Analysis

POLS2125 Game Theory and Social Sciences

POLS2137 Meaning in Politics: Interpretation, Method and Critique

POLS3045 Qualitative Research Methods in Political Science Research

SOCY2043 Introduction to Qualitative Research Methods

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

ASIA1035 Introduction to Asian Politics

ASIA1999 The Origins of Political Order in Asia

EURO1004 Europe in the Modern Era

EURO2012 Uniting Europe: History, Politics, Theory

EURO3002 Comparative European Politics

INTR2010 International Relations in the Asia-Pacific

MEAS1001 Introduction to the Modern Middle East

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

MEAS2004 Turkish Politics and Foreign Policy

MEAS2105 The Political Economy of the Middle East

MEAS3004 Iran in World Politics

POLS2031 Politics in the Middle East

POLS2055 Pacific Politics

POLS2095 Politics in Latin America

POLS3040 Conflict and Change in Sub-Saharan Africa

A minimum of 12 units from the following security courses:

ASIA2111 Indonesian Foreign and Security Policy

INTR2012 Chinese Foreign and Security Policy

INTR2014 Indian Foreign and Security Policy

INTR2016 US Foreign and Security Policy in Asia

INTR2018 Japanese Foreign and Security Policy

INTR2020 (In)Stability on the Korean Peninsula

INTR2024 Nuclear Politics in Asia: Challenges and Opportunities

POLS2123 Peace and Conflict Studies

POLS2136 Power and Influence in World Politics

POLS3033 Environment, Human Security and Conflict

POLS3036 International Terrorism

STST1001 Introduction to International Security Studies

STST2001 Security Concepts in the Asia-Pacific

STST2003 Australia and Security in the Pacific Islands

STST2124 Politics of Nuclear Weapons

STST3002 Australia's Security in the Asian Century

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

DEMO2003 Migration in the Modern World

DIPL2000 Leadership and Diplomacy

INTR3001 Humanitarianism: Principles, Politics and Practice

PHIL2113 Global Justice

POLS2011 Development and Change

POLS2100 Genocide in the Modern World

POLS2101 Refugee Politics: Displacement and Exclusion in the 20th and 21st Centuries

POLS2113 Human Rights

POLS2133 International Organisations in World Politics

POLS2135 Race, Ethnicity and Representation

POLS3004 Emotions in International Politics

POLS3035 The Politics of International Law

SOCY2030 Social Inequalities and Development

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

DEMO1001 Global Population Challenges 

DEMO2003 Migration in the Modern World

HIST1209 Terror to Terrorism: A History

HIST1210 Environment and History from 1945

HIST2136 World at War, 1939-1945

HIST2141 The Cold War: 1945-1989*

HIST2240 Democracy and Dissent: Europe Since 1945*

HIST2226 Nazi Germany*

HIST2228 The Enlightenment: Europe and the World 1660-1800

HIST2242 The Soviet Union: From the Russian Revolution to the Collapse of Communism*

MEAS3007 Syria in the Levant: State, Society and the Current Turmoil

MEAS3008 Egypt: Social and Political Dynamics in a Changing Middle East

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

A maximum of 12 units from the following internships and Vice-Chancellor's courses:

ANIP3003 Australian National Internships Program A

ANIP3005 Australian National Internships Program B

VCUG2002 Leadership and Influence in a Complex World

VCUG3001 Unravelling Complexity

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

Advanced Chinese Language 

Advanced French Studies

Advanced German Studies

Advanced Italian Studies

Advanced Japanese Language

Advanced Korean Language 

Advanced Spanish Studies

Arabic

Burmese Language

Chinese Language

French Language and Culture

German Language and Culture

Hindi Language

Indonesian Language

Italian Language and Culture

Japanese Language

Japanese Linguistics

Korean Language

Mongolian Language

Russian

Persian

Spanish

Tetum Language

Thai Language

Vietnamese Language

Minors

Bachelor of International Relations Minors

Bachelor of Actuarial Studies Minors

Study Options