B6060 · Monash University · Vertical double
Bachelor of Actuarial Science and Master of Actuarial Studies
Faculty of Business and Economics
- Minimum ATAR
- 88
- Full time
- 4 years
- Part time
- 8 years
- Credit points
- 192
- Campus
- —
- Mode
- On campus
Overview
This course will prepare you for a career as an actuary. To provide professional actuarial advice in Australia, and in most other developed countries, you must become a Fellow of the actuarial profession. This involves developing basic technical skills, learning how to apply these skills in a general setting, developing deep specialist knowledge and completing several years of work experience. This double degree will allow you to complete the Foundation Program and the university component of the Actuary Program under the Accreditation Agreement with the Actuaries Institute and is designed for getting the maximum number of exemptions within the shortest time. You will have the opportunity to gain industry-based experience as part of the specialisations in the bachelor component of this course: Actuarial studies and Actuarial analytics. You will be able to seek employment in international finance and business fields dealing with life, general or health insurance, superannuation, risk management and financial consulting. Many actuaries and actuarial graduates work on investment operations for asset managers, brokers and banks. There are a range of government-related jobs in regulatory control, workers' compensation, education and others. Some actuaries work with large companies on long-term strategic planning.
First-year units
Level 1 units every student in this course takes or chooses from.
- ACC1100Introduction to financial accountingThis unit introduces you to fundamental accounting concepts and rules to provide a foundation for further study within the accounting discipline. Emphasis is placed on developing meaningful understanding of both accounting terminology and t…
- ECC1000Principles of microeconomicsThis unit introduces the core principles of microeconomics and how they explain decision-making by individuals, firms and governments. You will learn key tools such as supply, demand and market equilibrium, and apply them to everyday econom…
- ECC1100Principles of macroeconomicsThis unit introduces you to macroeconomics, from the leading schools of thought and the microeconomic underpinnings to policy analysis. You will develop a broad understanding of the various indicators of macroeconomic performance of a count…
- ETC1000Business and economic statisticsIn this unit, you will learn how to analyse and interpret data to support evidence-based decision-making in business and economics. You will explore methods for summarising data, including tables, charts, and measures of central tendency an…
Course structure
Open a major, minor or specialisation to see its units.
Stage 1. Bachelor of Actuarial Science
144 cpYou must complete units as specified in Parts A, B, C and D (144 credit points). 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. Some majors, minors and specialisations include the same units. Where this occurs, up to 12 credit points may be shared between - two majors; or - a major and a minor; or - a specialisation and a major or minor. Note: Units can only count toward one minor. They cannot be shared across multiple minors.
Part A. Core studies
24 cpYou must complete the following units
Part B. Discipline studies
36 cpYou must complete the following units
Part C. Specialist studies
36 cpYou must complete one of the following specialisations
- SpecialisationActuarial studies6 units36 cp
- SpecialisationActuarial analytics6 units36 cp
Part D. Elective studies
48 cpYou must complete 48 credit points of elective study, comprising: - 24 credit points of electives at undergraduate level; and - 24 credit points of electives at Level 5.
Electives at undergraduate level
24 cpYou must complete 24 credit points of electives at an undergraduate level. Electives can be chosen from across the University, which may be used to complete a major or minor from another course, provided you have met the relevant prerequisites and there are no enrolment restrictions. Notes: - You must complete at least six Level 3 units (36 credit points) in this course. If you complete less than than six Level 3 units in Part B and Part C, you must complete additional Level 3 units in Part D to meet this requirement. - 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. - Electives can be identified using the advanced search in the current edition of the Handbook. Majors and minors can be identified using the Handbook advanced search. The level of the unit is indicated by the first number in the unit code; undergraduate units are those that commence with the numbers 1-3.
Electives at level 5
24 cpYou must complete 24 credit points of level 5 units offered by the Faculty of Business and Economics
Stage 2. Master of Actuarial Studies
48 cpPart B. Core studies
18 cpYou must complete the following units: Note: If you have already completed ETC3250 in Stage 1, then you cannot complete ETC5250. You must complete an additional 6 credit points from Part C. Discipline studies below.
Part C. Discipline studies
30 cpYou must complete the following units: Note. If you have already completed any of ETC3420, ETC3430, ETC3460, ETC3520 or ETC3530, you cannot take the Level 5 equivalent. You will need to replace this unit with another Level 5 unit from the Faculty of Business and Economics.