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 analytics, trade, foreign affairs, journalism, international business or research? You have found the right degree. ANU is a leader in the field of International Relations. The Bachelor of International Relations will give you world-class training in International Relations, providing the skills and background you need to understand the complex and exciting world of international affairs. Our program:

• provides an overview of the historical and intellectual background of international relations which focuses on the interaction of state and non-state actors globally across many dimensions – cultural, economic, environmental, and military to name a few;
• gives you an in-depth understanding of contemporary debates and challenges in international relations, as well as hands-on experience in policy analysis and data literacy which will prove highly useful in the workplace of tomorrow; and
• offers opportunities to study more specialised topics such as geopolitics and great power rivalry, international organisations, empire, terrorism, and human rights.

Bachelor of International Relations students can pursue many additional options, including language study, going on exchange or doing 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. Describe the fundamental concepts of micro and macroeconomics.
3. Apply mathematical statistics, regression modelling and other advanced statistical techniques in various discipline backgrounds.
4. Describe and apply stochastic processes, survival models and their application in actuarial contexts.
5. Using a diverse range of discipline backgrounds and varied data, model and value cashflows dependent on death, survival, illness, retirement, and other contingencies.
6. Apply risk modelling techniques across a variety of financial contexts.

1. demonstrate knowledge and understanding of the international system's historical development and contemporary status: its principal events, actors, ideas, institutions, and outcomes of interest;
2. apply the key international relations theories and concepts to historical and contemporary cases, across multiple issue-areas;
3. demonstrate knowledge of a specific region/historical era of relevance to international relations; apply international relations theories and concepts to that region/era; reflect critically on the theories' applicability and explanatory power;
4. apply analytical tools from political science and other social sciences to the evaluation of international phenomena across of a wide variety of issue-areas that are relevant to scholars and policymakers; and
5. communicate and debate both orally and in writing, and work with others, using a wide 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 visit the ANU Actuaries Institute exemption policy page. The ANU is also a designated Centre of Actuarial Excellence for the Society of Actuaries (US) and is accredited to grant credit for their exams under the University Earned Credit (UEC) program. For more information visit the ANU Society of Actuaries (SOA) 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 CBE Student Services.

It is the student's responsibility to select the courses appropriate for their 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:

For students wishing to transfer into the Bachelor of Actuarial Studies, in addition to the standard internal transfer processes (Procedure: Admissions (Coursework) clauses 34-38), the following mathematics requirements apply:

• Students with less than 48 units of study at ANU will be assessed based on their application to study at the university and their ability to meet the math requirements.
• 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 visit the ANU Actuaries Institute exemption policy page. The ANU is also a designated Centre of Actuarial Excellence for the Society of Actuaries (US) and is accredited to grant credit for their exams under the University Earned Credit (UEC) program. For more information visit the ANU Society of Actuaries (SOA) 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 CBE Student Services.

It is the student's responsibility to select the courses appropriate for their 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:

For students wishing to transfer into the Bachelor of Actuarial Studies, in addition to the standard internal transfer processes (Procedure: Admissions (Coursework) clauses 34-38), the following mathematics requirements apply:

• Students with less than 48 units of study at ANU will be assessed based on their application to study at the university and their ability to meet the math requirements.
• 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

• VIC: Mathematics Methods or equivalent
• QLD: Mathematics Methods or equivalent
• TAS: Mathematical methods/Mathematics Specialised/Mathematics 1 and II through U Tas/Both Mathematics 1 and II through UTAS/Both Advanced Calculus and Applications 1A and 1B through UTAS
• SA / NT: Mathematical Methods or equivalent
• WA: Mathematical Methods or equivalent
• IB: Mathematics: Applications and Interpretations HL/Mathematics: Analysis and Approaches SL or HL

Adjustment Factors

Adjustment factors are combined with an applicant's secondary education results to determine their Selection Rank. ANU offers adjustment factors based on equity, diversity, and/or performance principles, such as for recognition of difficult circumstances that students face in their studies.

To be eligible for adjustment factors, you must have:

• achieved a Selection Rank of 70 or more before adjustment factors are applied
• if you have undertaken higher education, completed less than one year full-time equivalent (1.0 FTE) of a higher education program
• applied for an eligible ANU bachelor degree program

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:

ACST3032 Actuarial Data Analysis

ECON1101 Microeconomics 1

STAT1008 Quantitative Research Methods

STAT2005 Introduction to Stochastic Processes

STAT2013 Introductory Mathematical Statistics for Actuarial Studies

STAT2014 Regression Modelling for Actuarial Studies

STAT2032 Financial Mathematics

STAT3032 Survival Models

STAT3037 Life Contingencies

STAT3038 Actuarial Techniques

STAT3057 Risk Modelling 1

STAT3058 Risk Modelling 2

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

MATH1113 Mathematical Foundations for Actuarial Studies

MATH1115 Advanced Mathematics and Application 1

12 units from completion of elective courses offered by ANU, which may include courses from the following list:

BUSN1001 Business Reporting and Analysis

CBEA2001 Australian Indigenous Perspectives in Business and Economics

CBEA3001 College of Business and Economics Special Industry Project (UG)

CBEA3066 Global Business Immersion

CBEA3070 ANU College of Business and Economics Internship Program

FINM1001 Foundations of Finance

FINM2001 Corporate Finance

FINM2002 Derivatives

FINM3003 Continuous Time Finance

FINM3011 Investments

MATH1014 Mathematics and Applications 2

MATH1116 Advanced Mathematics and Applications 2

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, an elective MATH course should be taken from the last list.

In the requirements of the Bachelor of Actuarial Studies above, it is not possible to gain full exemptions from the Actuaries Institute Foundation Program requirements as some exemption courses are not listed as compulsory courses. For details pertaining to the Actuaries Institute exemptions, please refer to the ANU Actuaries Institute exemption policy page. For details pertaining to the granting of credit for the Society of Actuaries exams under the University Earned Credit program, please refer to the the ANU Society of Actuaries (SOA) page. By including any missing exemption courses in the other flexible double degree, or non-award study (i.e. applying to take 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), students may be able to complete the courses required to fully satisfy the accreditation program.

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.

The minor in Business and Economics Essentials will not be listed on transcripts for students completing the Bachelor of Actuarial Studies.

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:

18 units from completion of the following compulsory introductory and methods courses:

POLS1002 Introduction to Politics

POLS1005 Introduction to International Relations

POLS1009 Introduction to Data and Methods for Political Science and International Relations

A minimum of 18 and a maximum of 24 units from the completion of courses in the following list:

POLS2017 International Relations Theory

POLS2094 International Political Economy

POLS2132 War and International Relations

POLS2133 Global Cooperation and Institutions

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

POLS2044 Quantitative Methods in Politics and International Relations

POLS2045 Qualitative Methods in Politics and International Relations

POLS2137 Meaning in Politics: Interpretation, Method and Critique

A maximum of 6 units from the completion of the following International Relations and Social Science Breadth courses:

ECON1101 Microeconomics 1

ENVS1003 Introduction to Environmental and Social Research

HIST2110 Approaches to History

STAT1003 Statistical Techniques

STST1001 Introduction to Strategic Studies

SOCR1001 Foundations of Social Research

Or any other 2000-level POLS course with permission

24 units from the completion of the following 3000 level courses, of which:

A minimum of 12 units must come from the completion of courses on the following International Relations Depth list:

POLS3001 Foreign Policy

POLS3032 The Politics of Empire

POLS3035 Norms and International Law in World Politics

POLS3036 Terrorism

POLS3113 Human Rights 

POLS3136 Power and Influence in World Politics

A maximum of 12 units from the completion of courses on the following Social Science Depth list:

ENVS3033 International Environmental Policy

INTR3001 Humanitarianism: Principles, Politics, Practice

INTR3002 Global Institutions in the Asia-Pacific

STST3002 Australia’s Security in the Asian Century

STST3003 Honeypots and Overcoats: Australian Intelligence in the World

Or any other POLS 3000-level course

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

ASIA2041 Mainland Southeast Asia: Colonial and Postcolonial Predicaments

ASIA2067 Asian Economies

ASIA2093 Natural Resource Conflicts in Asia and the Pacific

ASIA2301 Human Migration and Expansion in the Rise of the Asia-Pacific

DEMO2003 Migration in the Modern World

HIST1209 Terror to Terrorism

HIST1214 Empires in Global History

HIST2136 World at War, 1939-1945

HIST2141 The Cold War: 1945-1989

HIST2214 The Great War: The Conflict that Changed the World

INTR2010 International Relations in the Asia-Pacific

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

MEAS2004 Turkish Politics and Foreign Policy

MEAS2105 The Political Economy of the Middle East

MEAS3009 Modern Arabian Peninsula: Society, Politics and Security

PASI2001 Pacific Studies in a Globalising World

PASI2002 Australia in Oceania in the 19th and 20th centuries

PASI3013 Environment and Development in the Pacific

STST2001 Security Concepts in the Asia-Pacific

STST2003 Australia and Security in the Pacific Islands

STST2020 Study Tour: Southeast Asia’s Security Choices

WARS2004: The Second World War in the Pacific

Minors

Bachelor of Actuarial Studies Minors

Study Options