- Length 2 year full-time
- Minimum 96 Units
The Master of Actuarial Studies requires the completion of 96 units, which must consist of:
72 units from completion of the following compulsory courses:
ACST8032 Actuarial Data Analysis
ACST8040 Actuarial Control Cycle 1
ACST8041 Actuarial Control Cycle 2
STAT6013 Principles of Mathematical Statistics for Actuarial Studies
STAT6014 Regression Modelling for Actuarial Studies
STAT6042 Survival Models
STAT6043 Life Contingencies
STAT6045 Actuarial Techniques
STAT6046 Financial Mathematics
STAT6057 Risk Modelling 1
STAT6058 Risk Modelling 2
STAT7004 Introduction to Stochastic Processes
24 units from completion of the following courses:
ACST6500 Extension Topics in Actuarial Studies
ACST8050 Research Essay in Actuarial Studies
ACST8500 RSFAS Masters Thesis
BUSN7008 Financial Statements and Reporting
BUSN7036 Financial Statement Analysis
BUSN7045 Corporate Governance
COMP6240 Relational Databases
COMP6261 Information Theory
COMP6420 Introduction to Data Management, Analysis and Security
COMP6490 Document Analysis
COMP6670 Introduction to Machine Learning
COMP6710 Structured Programming
COMP6730 Programming for Scientists
COMP8410 Data Mining
COMP8420 Neural Networks, Deep Learning and Bio-inspired Computing
COMP8430 Data Wrangling
COMP8600 Statistical Machine Learning
COMP8880 Computational Methods for Network Science
ECON8013 Optimisation for Economics and Financial Economics
ECON8069 Business Economics
EMET8001 Applied micro-econometrics
EMET8005 Econometric Methods and Modelling
EMET8008 Advanced Econometrics II
EMET8012 Business and Economic Forecasting
EMET8014 Advanced Econometrics I
FINM6006 Continuous Time Finance
FINM6016 Applied Portfolio Construction
FINM6041 Applied Derivatives
FINM6045 Asian Capital Markets
FINM7006 Applied Foundations of Finance
FINM7007 Applied Corporate Finance
FINM7008 Applied Investments
FINM7044 Applied Valuation
FINM8004 Advanced Corporate Finance
FINM8006 Advanced Investment
FINM8007 Topics in International Finance
FINM8014 Applied Financial Intermediation and Debt Markets
FINM8017 Trading and Markets
MGMT7020 Technology and Project Management
MGMT7250 Evidence-Based Management
STAT6016 Introduction to Bayesian Data Analysis
STAT6017 Big Data Statistics
STAT6018 Stochastic Modelling
STAT6026 Graphical Data Analysis
STAT6027 Statistical Inference
STAT6029 Design of Experiments and Surveys
STAT6030 Generalised Linear Models
STAT6040 Statistical Learning
STAT6050 Advanced Statistical Learning
STAT6056 Advanced Mathematical Statistics
STAT6060 Advanced Stochastic Processes
STAT8002 Applied Time Series Analysis
CBEA6070 ANU College of Business and Economics Internship Project
Students must achieve a minimum 60% weighted average mark in the first 48 units of courses attempted in order to remain enrolled in the Master of Actuarial Studies.
If the total number of units attempted exceeds 48 in the same teaching period in which the 48th unit is attempted, exactly 48 units will be used in the calculation of the weighted average mark with units from the course with the highest mark applied first followed by further units from courses in descending order of marks.
Students who do not achieve a minimum of 60% weighted average mark in the first 48 units will be transferred to the Graduate Diploma of Business.
|Year 1 48 units||STAT6013 Principles of Mathematical Statistics for Actuarial Studies 6 units||STAT6014 Regression Modelling for Actuarial Studies 6 units||STAT6046 Financial Mathematics 6 units||FINM7006 Applied Foundations of Finance 6 units|
|STAT6043 Life Contingencies 6 units||STAT6045 Actuarial Techniques 6 units||STAT7004 Introduction to Stochastic Processes 6 units||BUSN7008 Financial Statements and Reporting 6 units|
|Year 2 48 units||ACST8040 Actuarial Control Cycle 1 6 units||STAT6042 Survival Models 6 units||STAT6057 Risk Modelling 1 6 units||FINM7007 Applied Corporate Finance 6 units|
|ACST8032 Actuarial Data Analysis 6 units||ACST8041 Actuarial Control Cycle 2 6 units||STAT6058 Risk Modelling 2 6 units||ECON8069 Business Economics 6 units|
Applicants must present one of the following:
- A Bachelor degree or international equivalent with a minimum GPA of 5.0/7.0, with at least one course in the field of mathematics that must cover calculus and linear algebra
- An ANU Graduate Certificate of Finance and Actuarial Statistics (Actuarial Statistics or Actuarial Studies specialisation) with a minimum GPA of 4.5/7.0, with at least one course in the field of mathematics from university studies that must cover calculus and linear algebra
The GPA for a Bachelor program will be calculated from (i) a completed Bachelor degree using all grades and/or (ii) a completed Bachelor degree using all grades other than those from the last semester (or equivalent study period) of the Bachelor degree. The higher of the two calculations will be used as the basis for admission.
Cognate Disciplines: Finance; Accounting; Actuarial Studies; Business; Business Information Systems; Economics; Engineering; International Business; Management; Marketing; Maths; Physics; Science; Statistics
Progression Requirements: Students must achieve a minimum 60% weighted average mark in the first 48 units of courses attempted in order to remain enrolled in the Master of Actuarial Studies. Students who do not achieve a minimum of 60% weighted average mark in the first 48 units will be transferred to the Graduate Diploma in Business.
Ranking and English language proficiency: At a minimum, all applicants must meet program-specific academic/non-academic requirements, and English language requirements. Admission to most ANU programs is on a competitive basis. Therefore, meeting all admission requirements does not automatically guarantee entry. In line with the University's admissions policy and strategic plan, an assessment for admission may include competitively ranking applicants on the basis of specific academic achievement, English language proficiency and diversity factors. Applicants will first be ranked on a GPA ('GPA1') that is calculated using all but the last semester (or equivalent) of the Bachelor degree used for admission purposes. If required, ranking may further be confirmed on the basis of:
- a GPA ('GPA2') calculated on the penultimate and antepenultimate semesters (or equivalent) of the Bachelor degree used for admission purposes; and/or
- demonstrating higher-level English language proficiency
Prior to enrolment in this ANU program, all students who gain entry will have their Bachelor degree reassessed, to confirm minimum requirements were met.
Further information: English language admission requirements and post-admission support
Diversity factors: As Australia’s national university, ANU is global representative of Australian research and education. ANU endeavours to recruit and maintain a diverse and deliberate student cohort representative not only of Australia, but the world. In order to achieve these outcomes, competitive ranking of applicants may be adjusted to ensure access to ANU is a reality for brilliant students from countries across the globe.
Assessment of qualifications: Unless otherwise indicated, ANU will accept all Australian Qualifications Framework (AQF) qualifications or international equivalents that meet or exceed the published admission requirements of our programs, provided all other admission requirements are also met.
Where an applicant has more than one completed tertiary qualification, ANU will base assessment on the qualification that best meets the admission requirements for the program. Find out more about the Australian Qualifications Framework: www.aqf.edu.au.
Unless otherwise indicated, where an applicant has more than one completed tertiary qualification, ANU will calculate the GPA for each qualification separately. ANU will base assessment on the best GPA of all completed tertiary qualifications of the same level or higher.
ANU uses a 7-point Grade Point Average (GPA) scale. All qualifications submitted for admission at ANU will be converted to this common scale, which will determine if an applicant meets our published admission requirements. Find out more about how a 7-point GPA is calculated for Australian universities: www.uac.edu.au/future-applicants/admission-criteria/tertiary-qualifications.
Application for course credits: Applicants with a Bachelor Degree or Graduate Certificate in a cognate discipline may be eligible for up to 24 units (one semester) of credit.
Applicants with a Graduate Diploma or Bachelor degree with Honours in a cognate discipline may be eligible for up to 48 units (one year) of credit.
Domestic Tuition Fees (DTF)
For more information see: http://www.anu.edu.au/students/program-administration/costs-fees
- Annual indicative fee for international students
For further information on International Tuition Fees see: https://www.anu.edu.au/students/program-administration/fees-payments/international-tuition-fees
All students are required to pay the Services and amenities fee (SA Fee)
The annual indicative fee provides an estimate of the program tuition fees for international students and domestic students (where applicable). The annual indicative fee for a program is based on the standard full-time enrolment load of 48 units per year (unless the program duration is less than 48 units). Fees for courses vary by discipline meaning that the fees for a program can vary depending on the courses selected. Course fees are reviewed on an annual basis and typically will increase from year to year. The tuition fees payable are dependent on the year of commencement and the courses selected and are subject to increase during the period of study.
For further information on Fees and Payment please see: https://www.anu.edu.au/students/program-administration/fees-payments
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.
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 actuarial fields. With an ANU Master of Actuarial Studies degree you will 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 the risks.
Graduates will apply mathematical, statistical, financial, economic and other skills to untangle the most complex and difficult problems facing the commercial world.
ANU ranks among the world's very finest universities. Our nearly 100,000 alumni include political, business, government, and academic leaders around the world.
We have graduated remarkable people from every part of our continent, our region and all walks of life.
- Demonstrate key concepts in actuarial studies and related fields, including:
a.Utilise concepts in financial mathematics, including the time value of money, annuities, bond and loan calculations
b.Apply mathematical statistics, regression modelling and other statistical techniques to actuarial problems
c.Describe and apply stochastic processes, survival models and their application in actuarial contexts
d.Model and value cash flows dependent on death, survival, illness, retirement, and other contingencies
e.Apply risk modelling techniques across a variety of financial contexts
- Analyse and interpret specific business situations so that the correct actuarial and other techniques can be applied.
- Utilise critical thinking to solve specific actuarial problems and communicate their results to a relevant audience.
- Apply actuarial research planning and methodology.
Information on inherent requirements is currently not available for this program
The Master 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).
Entry is available for Semester 1 only. If applicants do not have the sufficient maths background, they can consider completing the Graduate Certificate of Finance and Actuarial Statistics.
If students seek status/exemption, please go to the CBE web page here. Please note that only translated course outlines with the university seal or by a NAATI translator (National Accreditation Authority for Translators and Interpreters) can be accepted.
Students in the Master of Actuarial Studies program have the option of applying to undertake a Actuarial Studies Masters thesis as a possible pathway to PhD study. Details regarding the Masters thesis are below:
- Length: 24 units, to be completed in the final year of the Master of Actuarial Studies
- Eligibility: To be eligible to apply, students must have achieved a GPA of at least 6.5 across prior coursework within the Master of Actuarial Studies. Eligibility will also depend on the compulsory courses that students are required to still complete as part of their Masters degree, and specifically whether students have sufficient space in their program.
- How to apply: Students must write a case as to why they want to engage in the course and must have already secured a supervisor
- Courses the thesis replaces: The courses that the thesis replaces will be determined in consultation with the Actuarial Studies Masters convenor and will depend on the background of each student.
Students who are accepted into the Masters thesis component should contact Robert Clark (Robert.Clark@anu.edu.au) to confirm their study plan for the program. Please note that undertaking a Masters thesis does not guarantee entry to a PhD.
About this degree
Semester 1 (February) only. However, if you have completed an actuarial degree or multiple exemptions of Part I, you may be able to enter this program in Semester 2 (July).
ACST8040 (S1), ACST8033 (S2) and ACST8041(S2)
*From 2020 onwards, Associate Program (formerly Part II exemptions) will include ACST8040 (S1), ACST8032 (S2) and ACST8041(S2).
It is possible to enrol in less than 24 units per semester but it will take you longer to finish your program and get your degree. If you are an international student you must always be enrolled full-time in 24 units each semester.You are encouraged to enrol in courses for both First Semester and Second Semester. You will be able to change your enrolment in courses up until Monday of week 2 of each semester without penalty.
Please consult with the program convener before you enrol any elective courses. Please also refer to the following link for further information of the
ANU courses leading to exemption
from Institute of Actuaries, Australia
Credits or exemptions will not be granted if they will result in ineligibility for actuarial accreditation (https://cbe.anu.edu.au/about/professional-organisations-accreditation/actuaries-institute-requirements). If we are not certain as to the student’s eligibility for accreditation, then it is up to the student to provide proof of how their prior study results in eligibility for the Institute of Actuaries (Australia) accreditation.
It is advisable that students discuss their course selection with
the Program Convener, Dr Robert Clark (firstname.lastname@example.org).
If you request a permission number to enrol any course, please complete an Application Form for Enrolment Change and submit it to the CBE Student Services, or email to email@example.com.