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Major

Actuarial Studies

    What will I study?

    Overview

    You will learn about actuarial techniques and life insurance modelling, through to the mathematics of finance and insurance risk models. This major will provide you with a firm grounding in the traditional actuarial skill set of mathematics, statistics, demography, finance and economics.

    major structure

    In your first and second year, you will complete actuarial major prerequisite subjects as well as breadth subjects.

    Your final year is comprised almost entirely of major subjects, plus your second non-mathematics breadth subject.

    professional accreditation RECOGNITION

    You will need to start taking actuarial subjects in your first year to fulfil professional accreditation requirements. These will vary, but usually include Introductory Financial Accounting and Intermediate Macroeconomics.

    Breadth studies

    The Melbourne Model allows you to incorporate breadth subjects into your degree. This gives you the chance to explore subjects or disciplines outside of commerce and actuarial studies.

    Use breadth to explore creative interests or topics you have always been curious about; or complement your accounting major and career development with a language, communication skills or technological expertise.

    If you follow a breadth track you may even qualify for graduate study in a field that’s very different from your major. Or if you already have a professional graduate program in mind, such as the Juris Doctor (Law) or Master of Engineering, you can use your breadth to develop your knowledge and meet prerequisites from day one.

    Sample course plan

    View some sample course plans to help you select subjects that will meet the requirements for this degree.

    YEAR 1
    Sem 1

    50 Points
    CORE
    Introductory Microeconomics I
    12.5 Points
    CORE
    Accounting Reports and Analysis
    12.5 Points
    CORE
    Principles of Finance
    12.5 Points
    CORE
    Accelerated Mathematics I
    12.5 Points
    YEAR 1
    Sem 2

    50 Points
    CORE
    Introductory Macroeconomics
    12.5 Points
    ACTUARY ACCREDITATION REQUIREMENT
    Introductory Financial Accounting
    12.5 Points
    ELECTIVE
    Introduction to Actuarial Studies
    12.5 Points
    CORE
    Accelerated Mathematics 2
    12.5 Points
    YEAR 2
    Sem 1

    50 Points
    MAJOR PREREQUISITE
    Financial Mathematics I
    12.5 Points
    CORE
    Probability
    12.5 Points
    CORE
    Organisational Behaviour
    12.5 Points
    NON-MATHS BREADTH

    12.5 Points
    YEAR 2
    Sem 2

    50 Points
    MAJOR PREREQUISITE
    Stochastic Techniques in Insurance
    12.5 Points
    CORE
    Statistics
    12.5 Points
    ACTUARY ACCREDITATION REQUIREMENT
    Intermediate Macroeconomics
    12.5 Points
    MAJOR ELECTIVE
    Topics in Actuarial Studies
    12.5 Points
    YEAR 3
    Sem 1

    50 Points
    MAJOR ELECTIVE
    Actuarial Modelling I
    12.5 Points
    MAJOR ELECTIVE
    Actuarial Modelling II
    12.5 Points
    MAJOR ELECTIVE
    Actuarial Modelling III
    12.5 Points
    MAJOR ELECTIVE
    Actuarial Analysis and Data I
    12.5 Points
    YEAR 3
    Sem 2

    50 Points
    MAJOR ELECTIVE
    Contingencies
    12.5 Points
    MAJOR ELECTIVE
    Actuarial Statistics
    12.5 Points
    MAJOR ELECTIVE
    Intermediate Financial Mathematics
    12.5 Points
    NON-MATHS BREADTH

    12.5 Points

    Sample course plan

    View some sample course plans to help you select subjects that will meet the requirements for this major.

    Explore this major

    Explore the subjects you could choose as part of this major.