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Major

Actuarial Studies

    What will I study?

    Overview

    If you choose to major in actuarial studies, you will have a firm grounding in the traditional actuarial skill set of mathematics, statistics, demography, finance and economics. Specifically, you’ll learn from subjects covering actuarial techniques and life insurance modelling, through to the mathematics of finance and insurance risk models.

    If you want accreditation as an actuary, you will need to have completed certain subjects in the Bachelor of Commerce, such as Introductory Financial Accounting and Intermediate Macroeconomics.

    Your major structure

    In your first and second year you will complete core subjects that are prerequisites for your major, as well as a non-mathematics breadth subject.

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

    Breadth studies

    Breadth is a unique feature of the Melbourne Model. It gives you the chance to explore subjects outside of commerce, developing new perspectives and learning to collaborate with others who have different strengths and interests — just as you will in your future career.

    Some of our students use breadth to explore creative interests or topics they have always been curious about. Others used breadth to improve their career prospects by complementing their major with a language, communication skills or business expertise.

    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