Account
Bachelor of Actuarial Studies
Learning Mode
Full Time
Duration
3 Years
Start date
February
Qualification
Bachelor Degree (AQF Level 7)
Fees
AUD 45,100
Location
Wallumattagal Campus (Sydney)
About the Course
The Bachelor of Actuarial Studies at Macquarie University is a prestigious and long-running program, recognised globally for its excellence in preparing future actuaries. This professionally accredited degree equips you with highly sought-after mathematical, statistical, and financial analysis skills to manage and advise on complex risks in various industries. You will learn to apply these analytical tools to real-world problems in long-term risk management, finance, and insurance, playing a crucial role in helping financial institutions and businesses worldwide to prosper.
As the world’s first accredited actuarial degree, Macquarie’s program has a legacy of producing prominent and influential actuaries who continue to make a lasting impact. The curriculum goes beyond theory, focusing on practical application and critical thinking, ensuring you are well-prepared to excel in a dynamic global environment.
Career prospects
Graduates of Macquarie’s Bachelor of Actuarial Studies are in high demand across a wide range of data-driven industries, including finance, insurance, superannuation, trading, airlines, energy, healthcare, and startups. Equipped with specialised expertise in quantitative analysis and risk management, they pursue roles such as actuary, actuarial analyst, risk analyst, investment manager, underwriter, and superannuation consultant. This degree offers a direct pathway into a high-paying, intellectually challenging profession with strong global career prospects.
Why choose Actuarial Studies at Macquarie?
Industry connected
Gain industry experience and mentorship through placements and teaching from top actuarial professionals and employers.
Global opportunities
Globally recognised degree offers accreditation pathways to launch an international actuarial career after graduation.
Professional accreditation
Earn exemptions from Actuaries Institute exams; recognised as a Centre of Actuarial Excellence globally.
Course Overview
The Bachelor of Actuarial Studies at Macquarie University is a comprehensive undergraduate program providing a strong foundation in the core principles of actuarial science. The program is meticulously designed to develop your expertise in mathematical, statistical, economic, and financial analysis, with a keen focus on their application to real-world problems in risk management and financial decision-making. Through a rigorous curriculum, you will cultivate essential problem-solving abilities, critical thinking, and the ethical understanding required of an actuarial professional. This competitive program is delivered by world-class academics who are at the forefront of the field.
Course Duration
Length of the course
- The Bachelor of Actuarial Studies is a 3-year full-time program.
Mode of Study for international students:
- International students are required to enroll full-time to comply with Australian student visa regulations. All core units are delivered on campus at the Wallumattagal Campus in Sydney.
Course Curriculum
The curriculum of the Bachelor of Actuarial Studies is structured to provide a deep and comprehensive understanding of actuarial principles, quantitative methods, and their financial applications. While specific unit names may vary, the program typically covers:
- Foundational Mathematics and Statistics: Strong emphasis on advanced calculus, probability theory, mathematical statistics, and statistical modelling essential for actuarial work.
- Economics and Finance: Core studies in microeconomics, macroeconomics, financial markets, investments, and corporate finance.
- Core Actuarial Science: Specialised units in areas such as financial mathematics, life contingencies, survival models, risk modelling, and actuarial techniques, preparing students for professional exemptions.
- Professional Practice and Ethics: Integration of professional standards, data science techniques, and communication skills vital for a successful actuarial career.
- Electives: Opportunity to select elective courses to broaden knowledge in complementary areas or pursue specific interests within the business school or other faculties.
Admission Requirements
Entry Criteria
- Academic qualifications Applicants must have successfully completed a recognised senior secondary school qualification or an equivalent university entrance examination, such as the New South Wales Higher School Certificate (NSW HSC) or other equivalent Australian or overseas high school qualification.
- Indicative Selection Rank (ATAR): Typically, 95 or equivalent (international selection rank).
- Assumed Knowledge: Mathematics Extension 1 (or equivalent).
- Recommended Studies: Mathematics Extension 2 (or equivalent).
- Other pathways such as a recognised Diploma, Advanced Diploma, Associate Degree, or at least one year of a university degree from a recognised institution may also be considered.
- Non-Academic Requirements:
- No specific non-academic requirements are listed, but strong quantitative aptitude is essential.
Language Proficiency
- English language requirements (e.g., IELTS, TOEFL) Applicants whose first language is not English must demonstrate English language proficiency through one of the following:
- IELTS Academic: Overall score of 6.5, with no band less than 6.0.
- TOEFL iBT: Minimum score of 83, with minimum sub-scores of Readings 13, Writing 21, Listening 12, Speaking 18.
- PTE Academic: Overall score of 58, with a minimum of 52 in each communicative skill.
- Cambridge English (C1 Advanced or C2 Proficiency): Overall score of 180, with no band less than 169.
- Duolingo English Test (DET): Overall score of 115, with no band less than 110.
Fees and Funding
Tuition Fees:
- For international students, the approximate annual tuition fee for the Bachelor of Actuarial Studies for 2025 is AUD$ 45,100. *This fee is indicative and subject to annual review by Macquarie University. Additional costs include living expenses, textbooks, compulsory Overseas Student Health Cover (OSHC), and the Student Services and Amenities Fee (SSAF).
Scholarships and Bursaries: Macquarie University offers one of Australia’s most generous scholarship programs, with millions of dollars in scholarships and grants awarded annually to domestic and international students. These may include:
- Macquarie University $5,000 Regional Scholarship – UG & PG: For students from specific regions. Prospective students are highly encouraged to explore the comprehensive list of scholarships on the Macquarie University website, checking eligibility criteria and application deadlines.
Career Opportunities
Graduates of Macquarie University’s Bachelor of Actuarial Studies are exceptionally well-prepared for diverse and high-demand roles within the financial and risk management sectors. The program’s strong industry connections and rigorous curriculum ensure high employability.
Key career opportunities include:
- Actuary: Analyzing financial risk for insurance companies, superannuation funds, and financial institutions.
- Actuarial Analyst: Supporting actuaries in assessing risk and developing financial models.
- Risk Analyst: Identifying, assessing, and mitigating financial and operational risks for businesses.
- Insurance Analyst/Specialist: Working in various capacities within the insurance sector, from product design to claims analysis.
- Superannuation Consultant: Providing expert advice on superannuation schemes and retirement planning.
- Investment Manager/Hedge Fund Manager: Applying quantitative analysis to investment strategies.
- Data Analyst/Scientist: Utilizing advanced statistical and programming skills in various data-rich industries.
Actuaries are crucial to the prosperity of businesses globally, making this a highly rewarding and impactful career choice.
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