Handbook - Actuarial Studies / Economics

There is a more recent version of this academic item available.

Overview

The Bachelor of Actuarial Studies / Economics program enables students to complete a depth of study from the actuarial studies program offered by the School of Risk & Actuarial Studies and the economics program offered by the School of Economics in the UNSW Business School.

Stand Alone Programs

Click on the link below to find out more about each individual program.

Double Degree Structure

Students must complete 192 UOC.

These UOC are made up of:

Actuarial Studies (96 UOC)

Level 1 Core Courses (48 UOC)
Level 2 Core Courses (24 UOC) (ACTL2131 may be substituted by MATH2901 and MATH2931, please see below)
Level 3 Actuarial Electives (24 UOC)
Business Elective (6 UOC)

Economics (96 UOC)

Introductory Business Core (6 UOC) - this will be satisfied by the completion of Level 1 Courses in the Actuarial Studies component.
Economics Core Courses (48 UOC) - Students will complete ECON1101 & ECON1102 as part of the Actuarial Studies Level 1 Core Courses. Also ECON1202 and ECON1203 are satisfied by MATH1151 and MATH1251 and therefore students do not have to take these courses where listed in their major.
Economics Electives (30 UOC)
Business School Electives (12 UOC) – this will be satisfied by the completion of Level 2 and Level 3 courses in the Actuarial Studies component

Students may choose to use their Economics core and elective courses to complete an optional Economics major. Courses for the major are taken once but also meet core and elective course rules where listed.

Electives

Where students complete the requirements of the Actuarial Studies and Economics components in less than 192 UOC due to courses shared across the rules, students must take electives to ensure a total of 192 UOC is completed.

Disciplinary Component - 3586 Actuarial Studies96 Units of Credit:

Students must complete 96 UOC of the following to satisfy the core requirements of this degree

Level 1 Core Courses48 Units of Credit:

Students must take 48 UOC of the following courses.

ACTL1101

6 UOC

Introduction to Actuarial Studies

Organisational Resources

Mathematics for Actuarial Studies and Finance 1A

MATH1251

6 UOC

Mathematics for Actuarial Studies and Finance 1B

Level 2 Core Courses24 Units of Credit:

Students must take 24 UOC of the following courses.

Students may replace ACTL2131 with the two courses MATH2901 Higher Theory of Statistics and MATH2931 Higher Linear Models. If students make this replacement, MATH2901 will count towards ACTL2131, and MATH2931 will be counted towards a major where this course is required or as a Business elective.

ACTL2102

6 UOC

Foundations of Actuarial Models

ACTL2111

6 UOC

Financial Mathematics for Actuaries

ACTL2131

6 UOC

Probability and Mathematical Statistics

COMM2501

6 UOC

Data Visualisation and Communication

Level 3 Actuarial Electives24 Units of Credit:

Students must complete 24 UOC of the following courses.

ACTL3141

6 UOC

Modelling and Prediction of Life and Health Related Risks

ACTL3142

6 UOC

Statistical Machine Learning for Risk and Actuarial Applications

ACTL3143

6 UOC

Artificial Intelligence and Deep Learning Models for Actuarial Applications

ACTL3151

6 UOC

Actuarial Mathematics for Insurance and Superannuation

ACTL3162

6 UOC

General Insurance Techniques

ACTL3182

6 UOC

Asset-Liability and Derivative Models

ACTL3191

6 UOC

Superannuation and Retirement Benefits

ACTL3192

6 UOC

Retirement Saving and Spending Over the Lifecycle

ACTL3301

6 UOC

Quantitative Risk Management

Optional Specialisations

Students may choose to complete an optional Actuarial Studies major or Business major / minor using the elective space in their program.

Actuarial Studies Majors

Students may elect to complete ACTLE1 or MATHE1 in addition to their Actuarial Studies program requirements.

Students completing these majors will still need to complete the program requirements such as Level 1 and 2 core course as well as Level 3 electives.

These majors will require UOC to be taken from the Business Electives, Free elective and/or General Education courses depending on a students program rules and courses completed. It may also require completion of additional UOC above the minimum required for a student's program. Please see the Progression Plans and consult the Business School Student Centre if you are interested in completing either of these majors.

ACTLE1

48 UOC

Actuarial Risk Management and Analytics

MATHE1

66 UOC

Quantitative Data Science

Business Majors / Minors

Students may elect to complete a maximum of one major/minor listed below in addition to their Actuarial Studies program requirements.

Notes for Single-Degree students: Completion of one of the following non-Actuarial Studies Majors within the single Actuarial Studies degree may result in more UOC required for degree completion.

Notes for Double-Degree students: Completion of an additional major/minor within the combined Actuarial Studies degree may result in more UOC required for degree completion.

Behavioural Economics

International Business

Human Resource Management

MGMTJ1

48 UOC

Innovation, Strategy and Entrepreneurship

TABLC1

48 UOC

Taxation

Completion of an Actuarial Studies and Business Optional Specialisation

Disciplinary Component - 3543 Economics96 Units of Credit:

Students must complete 96 UOC of the following to satisfy the core requirements of this degree

Actuarial Studies First Year Courses Satisfy Economics Introductory Business Course Requirement

Introductory Business Course6 Units of Credit:

Economics Core48 Units of Credit:

Students must take 48 UOC of the following courses.

Economic Perspectives

ECON1203

6 UOC

Business and Economic Statistics

ECON1202

6 UOC

Quantitative Analysis for Business and Economics

Introductory Econometrics

Economics Electives30 Units of Credit:

Students must take 30 UOC of the following courses with at least 18 UOC of level 3 Economics courses.

any level 2 Economics course

any level 3 Economics course

Actuarial Studies Options

UNSW Business Electives12 Units of Credit:

Optional Economics major48 Units of Credit:

Students may choose to complete one or two optional Economics majors. Students may use their Economics Core and Economics Elective courses to complete these economics majors. Please note: If you choose to study two optional Economics majors, you must choose another 6 courses (36 UOC) from the second major that do not overlap with the first optional major.

ECONV1

48 UOC

Macroeconomics and Financial Markets

ECONT1

48 UOC

Data Analytics and Econometrics

ECONU1

48 UOC

Economic Policy and Society

3588 - Economics Major Requirements

Electives

Program Constraints

Limit Rule

Maturity Rule

Enrolment Disclaimer

Please read the Double Degree Program rules as some specific rules apply to particular Double Degree combinations.

You are responsible for ensuring you enrol in courses according to your program requirements and advice from your Program Authority. myUNSW enrolment checks that you have met enrolment requirements such as pre-requisites for individual courses but not that you are enrolling in courses that will count towards your program.

Additional Information

Note that, for some majors, additional study of courses above the minimum stipulated for the dual degree program may be required

Program Fees

At UNSW fees are generally charged at course level and therefore dependent upon individual enrolment and other factors such as student's residency status. For generic information on fees and additional expenses of UNSW programs, click on one of the following:

Domestic Students

Commonwealth Supported Students (if applicable)

International Students