B2052 · Monash University · UG specialist
Bachelor in Actuarial Analytics
Faculty of Business and Economics
- Minimum ATAR
- 80
- Full time
- 3 years
- Part time
- 6 years
- Credit points
- 144
- Campus
- —
- Mode
- On campus
Overview
The Bachelor in Actuarial Analytics is a cutting-edge degree designed to equip you with a unique skill set tailored for the data-driven job market. By blending traditional actuarial science with advanced data analytics and risk management skills, graduates emerge with a distinctive expertise, making you highly employable across diverse industries. This program directly addresses the global surge in demand for actuaries, ensuring you are well-equipped to excel in sectors ranging from insurance and finance to government and academia. With a strong focus on data quantification techniques, you will be prepared to tackle complex data challenges, while your analytical and quantitative skills open doors to a wide range of career opportunities beyond traditional actuarial roles. Highlights include mastery of data analytics and business intelligence, and strategic adoption of emerging technologies in various business functions for enhanced efficiency and competitiveness. Upon program completion, you will become a catalyst for digital transformation within organisations, propelling impactful change in the ever-evolving landscape of data-centric industries. The program will propel you towards success in the dynamic job market of today and tomorrow.
First-year units
Level 1 units every student in this course takes or chooses from.
- ACW1120Financial accounting 1This unit provides you with an introduction to financial accounting guided by the Conceptual Framework and Accounting Standards. Emphasis is placed on accounting processes, practices and policies that enable the financial statements to be p…
- BFW1001Foundations of financeAs a foundation, this unit introduces you to the concepts of finance, financial mathematics, investment analysis, the financial system, risk management and the relationship of finances to other commercial disciplines.
- ECM1953Principles of economicsThis unit explores: Microeconomics: scarcity, economic choice, economic systems, demand and supply analysis, elasticity, costs of production and profit-maximisation, perfect competition, monopoly, monopolistic competition and oligopoly, and…
- ETM1005Programming for business applicationsThe aim of this unit is to familiarise you with programming by utilising two high-level programming languages, namely R and Python. You will be taught structured programming by means of practical sessions, which will cover fundamental data…
- ETM1015Calculus 1In this unit, you will learn several fundamental mathematical concepts and techniques in introductory and intermediate calculus. Specifically, you will be exposed to the fundamental concepts and important theories on sets and functions, lim…
- ETM1020Calculus 2In this unit, you will learn several mathematical concepts and techniques in advanced calculus. Specifically, you will be exposed to the fundamental concepts and important theories related to the study of complex numbers, solutions of first…
- ETM1030Mathematical statisticsIn this unit, you will be exposed to a comprehensive study of statistical methods and data analysis. Specifically, you will be introduced to the essential concepts and techniques in probability and statistical methods to equip you with the…
Course structure
Open a major, minor or specialisation to see its units.
Rules for completing this course
In choosing your units, you must ensure that you complete no more than 10 units (60 credit points) at Level 1 and at least six units (36 credit points) at Level 3, including four units (24 credit points) at Level 3 offered by the Faculty of Business and Economics. You can apply to transfer to the Bachelor in Actuarial Science after completion of 96 credit points. To be eligible for transfer, students must achieve an overall course WAM of 70 and a minimum mark of 70 for selected units.
Part A. Core studies
24 cpYou must complete the following units.
Part B. Discipline studies
90 cpYou must complete the following units
- ETM1005Programming for business applications 6 cp
- ETM1015Calculus 16 cp
- ETM1020Calculus 26 cp
- ETM1030Mathematical statistics6 cp
- ETM2100Principles of statistical inference 6 cp
- ETM2110Risk and survival modelling 6 cp
- ETM2200Time series analysis and stochastic processes6 cp
- ETM2550Actuarial mathematics 16 cp
- ETM2860Economic modelling 16 cp
- ETW2440Business modelling and analytics methods6 cp
- ETW2500Unsupervised learning for business6 cp
- ETM3800Text analytics for business6 cp
- ETM3860Economic modelling 26 cp
- ETW3482Data mining and predictive modelling6 cp
- ETW3483Applied analytics6 cp
Part C. Capstone studies
6 cpYou must complete the following unit
- ETM3550Actuarial mathematics 26 cp
Part D. Elective studies
24 cpYou must complete 24 credit points of elective study, of which 6 credit points must be at level 3. Electives can be chosen from: - Units from Faculty of Business and Economics, which may include study tours, consulting projects or industry placements, provided you have met the relevant prerequisites and there are no enrolment restrictions. - Units from across the University, which may be used to complete a minor from another course, provided you have met the relevant prerequisites and there are no enrolment restrictions. - Units from the list of recommended electives below from the Faculty of Business and Economics to gain additional analytics, finance or actuarial knowledge. Notes: - Elective studies will enable you to further develop your knowledge of actuarial science, analytics, or commerce more broadly, or to select any units from across the University in which you are eligible to enrol including to complete a minor from another course. - Enrolment in Faculty of Business and Economics units at campuses other than the campus of enrolment is subject to there being capacity after students from that campus have enrolled. You should also be aware of travel and timetabling limitations.