​​​​​​​Area of Study

Browse the list of study areas available for undergraduate study

 

​​​​​​​​​​​​​​​​​Search Degrees​​

Find a degree, course or interest

Bachelor of Actuarial Studies

Build the foundations for a highly desirable career as an actuary with the Bachelor of Actuarial Studies.

  • Overview
  • Structure
  • Entry requirements
  • How to apply
  • Career
    opportunities
  • FAQs

The Bachelor of Actuarial Studies, UNSW Sydney, supercharges your maths skills to solve important business problems. Develop a specialist skillset and pair it with a second major in a business field of your choice, such as finance, fintech, information systems or actuarial risk management and analytics.

Gain practical, real-world experience through excellent internships. There are great opportunities for work placements with the University’s distinguished industry partners, and the scope to study or work overseas as part of your degree.

Graduate with business acumen and the specialist quantitative techniques that lead to niche and crucial roles in insurance, superannuation, consulting, data analytics and financial services organisations.

Being able to model and analyse data is such a diverse tool and these skills can be transferred from predicting customer behaviour all the way to modelling the movement of participants in a welfare system.

Alisa Zheng
Bachelor of Actuarial Studies
Read more on Alisa’s experience with the Bachelor of Actuarial Studies

Why choose this bachelor’s degree?

The Bachelor of Actuarial Studies has the freedom to choose exciting electives or a business major in areas such as accounting, finance, information systems or actuarial risk management and analytics. This challenging and rewarding program has the opportunity for global work and study experiences and professional recognition. Within 3 years, you will be ready for a quantitative role in the financial services, insurance and superannuation industries.

The 1st year of the program will introduce the topics of accounting, financial management, actuarial studies, probability, economics, business finance and people management. See the program structure for detailed information.

In the 2nd year, explore actuarial models, financial mathematics, probability and stats. This year gives the option to choose a second business major or add interesting electives from across UNSW. This year would be a good time for an internship in Australia or overseas.

The final year concludes with more on models and stats, data analytics, life contingencies, general insurance techniques, superannuation and retirement, asset-liability and derivative models.

This degree is professionally recognised and prepares graduates with a career-ready standard of knowledge. It is fully accredited by the Institute of Actuaries of Australia and relevant courses are approved for VEE by the Society of Actuaries (SOA) in the US.

During your study, make use of Career Accelerator, a portfolio of professional development opportunities that are exclusive to UNSW Business School students and include:

UNSW Business School degrees are shaped by industry leaders and world-class academics who recognise the future will present career opportunities that don’t exist today. Our Bachelor of Actuarial Studies is designed to train your mind to adapt to future challenges. You will understand business concepts, practise problem-solving, and build skills in critical thinking and decision making

Limited places are available for the Bachelor of Actuarial Studies (Co-op), a 4 year program that incorporates an annual scholarship, 3 internships and industry mentoring.


Who is this degree for?

  • High-achieving students looking for a foundation to enter the actuarial profession
  • Those with a passion for mathematics, who like to analyse data to solve business and financial problems

Job and career prospects

Actuaries evaluate and manage risk, by applying mathematical, statistical, and financial analyses across a wide range of industries, including insurance, superannuation, wealth management, data analytics, banking and finance. Graduate roles may include:

  • Actuarial Analyst
  • Asset Management Trainee
  • Business Consultant
  • Credit Analyst
  • Insurance Analyst
  • Investment Banker
  • Risk assessment Officer
  • Superannuation Adviser
  • Wealth management Analyst

Find out how we prepare our graduates for career success

Why the Business School?

UNSW Business School is a leading business school in the Asia-Pacific, and we rank 1st worldwide for Risk and Actuarial Studies. Read more about our rankings and reputation.

Our students build professional networks among more than 90,000 Business School alumni worldwide and begin their new career before graduation. This undergraduate degree incorporates a suite of professional development opportunities offered by Career Accelerator, that are exclusive to UNSW’s Business School students. Career Accelerator helps you build industry connections through networking and mentoring, and you can undertake internships and global business practicums for credit towards your degree.


The Bachelor of Actuarial Studies is a 3 year degree program consisting of 24 courses (144 UOC). The program includes:

  • 12 core courses
  • Three level 3 Actuarial Studies electives
  • One UNSW Business School elective
  • Free electives*
  • General education courses (choose from other faculties)

* You can use these to complete a second major (from approved areas of study). Some majors will require additional study above the minimum 144 UOC.

Core courses

ACCT1501 Accounting and Financial Management 1A

The compulsory core accounting unit will have a preparer perspective. It will provide an introduction to basic concepts in accounting and their application for decision making by a wide range of potential users (eg, shareholders, investment analysts, lenders, managers etc).
 
This unit should benefit students who wish to specialise in accounting, and will also be of value to students whose primary interest lies elsewhere in the field of business. On completion, students should have a clear understanding of the accounting process and the language of accounting to enable communication with an accounting professional, understand the relevance of accounting information for informed decision making by a wide range of potential users, and have the ability to analyse and interpret accounting information.
 
Topics covered will include the accounting equation, general purpose financial reports, cash and accrual accounting, adjustments, internal control, financial statement analysis, and interpreting and preparing information for managers to use in planning, decision making and control.

ACCT1511 Accounting and Financial Management 1B

During Summer Term, this course is available as General Education to students from faculties outside the UNSW Business School.

All students taking this course during Summer Term will be required to pay full tuition fees. This includes Commonwealth supported students who are studying at UNSW. Please see the Business School courses - Summer Term fees for more information.

Taken together, the accounting course in the compulsory core and this accounting course form an integrated study program designed to give students an understanding of the way in which financial information is generated and used, and to provide an appropriate platform for further study in accounting.

On completion the first year accounting courses seek to develop:

  • Technical competence in recording economic events in the accounting system
  • A critical understanding of key technical terms and concepts so as to interpret accounting information and reports in the financial press
  • An ability to argue a reasoned position on key questions of accounting theory and practice
  • Familiarity with institutional structures that affect the practice of accounting

Topics covered in this course will include accounting for the major transactions cycles, cash, receivables, inventory, non-current assets and liabilities, cash flow statements, accounting policy choice, further detail on management accounting (including costing systems and budgeting), corporate governance, and professional ethics.

ACTL1101 Introduction to Actuarial Studies

This course is designed to provide an introduction to actuarial studies. It covers the basic principles underlying the actuarial analysis and management of insurance, superannuation and other financial contracts. It also aims to demonstrate the importance of statistics, mathematics, demography, economics, accounting, finance, business law and computing to actuarial studies.

ACTL2102 Foundations of Actuarial Models

This course provides an introduction to the probability models used by actuaries for both liabilities and assets. Topics covered include the terminology of stochastic processes; main features of a Markov chain and application to experience rating; Markov process models and application to survival, sickness and marriage models; simple time series models including random walk and auto-regressive models and their application to investment variables; properties of Brownian motion and applications to investment variables; methods for simulation. Students will be required to implement models using spreadsheets and programs in a numerical computer package.

ACTL2111 Financial Mathematics for Actuaries

This course will cover the financial mathematics required for the analysis of financial and insurance transactions. Topics covered include: mathematics of compound interest; valuation of cash flows of simple insurance contracts; analysis and valuation of annuities, bonds, loans and other securities; yield curves and immunisation; introduction to stochastic interest rate models and actuarial applications.

ACTL2131 Probability and Mathematical Statistics

This course covers probability and statistics topics relevant to actuarial studies. Topics covered include univariate/multivariate random variables, moments, probability generating functions, moment generating functions, marginal and conditional distributions, sampling distributions, estimation methods, hypothesis tests, regression, analysis of variance. Examples relevant to actuarial studies, finance and insurance are used to illustrate the application of the topics covered.

ECON1101 Microeconomics 1

In order to understand the workings of markets and the economy, one has to take on an 'economic mindset'. This introductory course covers the fundamental principles that economists use to understand and analyse economic behaviour. Understanding these basic principles equips students for further studies in economics and business. Topics and issues covered in this course include how individuals or firms make decisions about the demand or supply of a particular product, how we can judge the relative efficiency of different types of markets, how we explain why governments may need to intervene in a particular type of market while not in others, and how different government policies are more efficient than others.

ECON1102 Macroeconomics 1

Macroeconomics studies the aggregate behaviour of the economy. This course provides an introduction to the economic analysis of key macroeconomic variables such as output, employment, inflation, interest rates and exchange rates. The important elements of the course include measurement of macroeconomic variables, the development of models and theories to explain the behaviour of macroeconomic variables, the use of empirical evidence in evaluating different models, and the role of government policy in seeking to influence macroeconomic outcomes. The course will provide students with a framework for understanding the workings of the whole economy and the various interactions among households, business and governments.

FINS1613 Business Finance

This is a first level corporate finance course that looks at the essential aspects of financial decision-making. The course begins with the different ways in which companies can be structured and the differing types of ownership that exist. Thereafter, the principles and applications of financial mathematics are introduced and used to value securities and investment decisions.

Portfolio theory is used to provide a foundation for determining the relationship between expected risk and returns in financial and real asset investments. Dividend payouts and the choices between debt and equity financing, including methods of determining the cost of capital, are also covered.

Furthermore, this course includes analysis of the influence of the capital market environment, the implications of financial risk, taxation and the conflict of interest between managers and investors on the value and operation of businesses.

The course develops distinct conceptual frameworks and specialised tools for solving real-world financial problems at both the personal and corporate level. Illustrations from real-life corporate practices are used to highlight the importance and relevance of financial management to the realisation of personal and corporate financial objectives.

Examples include personal financial planning, funds management, capital raisings, portfolio selection of financial securities, private equity, public floats and the pricing of assets in the stock market.

MATH1151 Mathematics for Actuarial Studies and Finance 1A

Vectors and vector geometry, linear equations, matrices and matrix algebra, basic input-output linear models, determinants, least squares approximation, probability and statistics. Limits, continuous and differentiable functions, mean value theorem, fundamental theorem of calculus, numerical integration, functions of several variables, introduction to Matlab.

Assumed knowledge: HSC Mathematics Extension 1. Students will be expected to have achieved a combined mark of at least 140 in Mathematics and Mathematics Extension 1 or 180 in Mathematics Extension 1 and Extension 2.

MGMT1001 Managing Organisations and People

This course provides an introduction to the fundamental principles, practices, issues and debates associated with the management of public, business and third sector organisations. The frameworks, concepts and theories covered in the course are introduced to explain how managers deal with the diversity of issues faced in the effective management of contemporary organisations.
 
The underpinning themes of the course centre on how managers can deal with the multiple demands of complex and turbulent environments, promote and sustain competitive advantage, manage changing social, political and technological factors inside and outside the organisation, ensure ethical and social responsibility, develop global organisations and manage diversity in the workforce. How management goes about its principal tasks of managing strategy, structures, people and systems are the key focus issues of the course. The main roles of modern management - planning, leading, innovating, organising and controlling - are also examined.
 
Topics include the emergence, evolution and structure of management, conceptions of managerial work; management fads, fashion and knowledge; the task and internal environment; regulating people; the nature of organising; change and innovation; decision-making; influence processes; power and politics; ethical issues and professionalism in management; performance management: control and planning; and current trends.

Entry to this degree is based on your Australian Tertiary Admission Rank (ATAR) or an equivalent rank derived from the following:
  • Australian interstate Year 12 qualifications (e.g. OP rank)
  • New Zealand NCEA Level 3
  • Equivalent overseas qualifications e.g. International Baccalaureate (IB) Diploma, GCE A-Levels
  • Post-secondary or tertiary qualifications
  • An alternative entry qualification

Domestic students
For further information on domestic admission requirements, see UNSW Future Students degree finder.

International students
For further information on international admission requirements, see the International Undergraduate Direct Entry Table.

The UNSW English Language requirements also apply to this degree.

Alternative entry pathways
If you did not meet the entry cut-off of this degree, you might want to consider studying a different undergraduate degree (either at UNSW or another university), achieve good marks for your first year of study, and then apply for transfer into this degree.

If you did not have the required academic qualification for admission, visit the UNSW Future Students website to find out what other options are available to you.


Domestic students

If you are an Australian citizen, Australian permanent resident or New Zealand citizen, you apply online through the Universities Admissions Centre (UAC).

International students

If you are an international student, and you’re completing an Australian Year 12, or the NZ NCEA Level 3 qualification in Australia or overseas, you apply online through UAC International.

All other international students apply directly to UNSW.

Transferring students

Transferring within UNSW

Current UNSW students can apply to transfer from one UNSW degree to another (e.g. from Bachelor of Arts to Bachelor of Commerce) as long as the entry requirements of the new program are met.

Assessment is usually based on your high school qualification (ATAR or equivalent) and/or results from your UNSW studies. In most cases, you need to have completed a minimum of 6 courses (36 UOC) at UNSW.

You can apply for transfer to another UNSW degree by:

If you gain entry into the new program, you will then be assessed for transfer credits for courses already completed. You can see the transfer credits on myUNSW.

Transferring from outside UNSW

Students studying at another institution can apply to transfer to a UNSW business degree as long as the entry requirements of the program are met.

Assessment is usually based on your high school qualification (ATAR or equivalent) and/or results from university studies. In most cases, you need to have completed a minimum of 6 courses (36 UOC) at the other university.

You can apply for transfer to a UNSW degree by:

  • Applying through UAC (if you’re a domestic student) or directly with UNSW via Apply Online (if you’re an international student)

If you gain entry into the program at UNSW, you will need to apply for transfer credits for courses already completed. Find out more about credit transfer at UNSW.

For a list of pre-assessed business courses, visit our transfer credit guide.

Note:
  • If you’re a domestic student and have completed one semester of study, and your high school results (e.g. ATAR, IB score) met the entry requirements, you may be eligible to apply for transfer via UAC based on your high school results only.
  • If you’re an international student and have completed one semester of study, and your high school results (e.g. ATAR, IB score) met the entry requirements, you may be eligible to apply for transfer directly with UNSW via Apply Online.

UNSW Business School students are some of Australia’s best and brightest, with a reputation for drive and innovation. Our graduates have exceptional employability rates, performing well above the national average. The majority of our students are employed full-time within four months of graduating and earning a wage higher than most business & management graduates.

Our degrees include up to two for-credit industry experiences, such as internships or global business practicums. These experiences are part of a suite of opportunities that is exclusive to UNSW’s Business School students and organised through Career Accelerator. The professional development opportunities complement your studies, build connections to industry and give you a clear advantage after graduation.

The opportunities are grouped within the Networking, Mentoring, Internships, and Global sections of Career Accelerator.

Networking

The people you meet during your time at university can play a profound role in positively shaping your career. Connect with like-minded and influential people through:

  • Business Connect - an introduction to Networking
  • Industry Insights – workshop sessions delivered by industry partners
  • Industry Events – invitation-only events hosted by industry partners
  • Business Case Competitions – impress future employers with your problem-solving skills

Mentoring

Participating in a mentoring program will boost your confidence, help grow your professional network, develop your communication, teamwork and leadership skills as well as building upon your business acumen.

  • Mentor Connect – a quick, online chat with an AGSM MBA student about your future
  • Career Mentoring Program – a 10-week program of career mentoring and coaching

Internships

UNSW Business School’s for-credit and not-for-credit opportunities such consultancy projects, social entrepreneurship practicums, virtual internships and extra-curricular experiences.

  • Internships & Consulting Projects – real-world and virtual projects for program credit
  • Social Entrepreneurship Practicum – practicum to develop professional team skills in a real project for program credit
  • Business Experience – real-world and virtual projects for professional development

Global Opportunities

The personal and professional benefits of living, studying or working in a different culture are immense and recognised by employers.

  • Global Business Practicum - work in small cross-disciplinary student consulting team on a genuine business issue, usually in Asia
  • Social Entrepreneurship Practicum - build entrepreneurial, workplace and leadership capabilities in India
  • Business Immersion China - blend business, culture and Chinese language classes with company visits and excursions to sights of significant cultural importance around Shanghai
  • International Information Systems & Technology Practicum – experience how e-business systems differ across international borders
  • Student Exchange – live and study overseas for up to 3 terms at one of our 200 partner universities

A Bachelor of Commerce prepares you for long-term business success. UNSW Business School graduates are currently employed in a variety of professions including: accountant/auditors, commercial managers, economists, financial advisors, human resource consultants, ICT business/system analysts, international business development managers, investment bankers, management consultants, marketing/brand managers, property business analysts, recruitment officers, and tax advisors – to name a few.



No search results found. Please try another search term.

Quick facts for students

Program code
3586
UAC code
424300
Award
Bachelor Degree
Assumed Knowledge
Mathematics Extension 1
Lowest Rank
97.50
Other qualifications considered
Accepted Qualifications for High School Graduates
Total Units of Credit (UOC)
144
Study Mode
Face to face
Duration
3 years full–time, 6 years part-time
Commencing terms
Term 1 - February
Term 2 - June
Term 3 - September
HECS fee band
Band 3
Program fee (total)
$33,664

​​​​​​​Area of Study

Browse the list of study areas available for undergraduate study

 

​​​​​​​​​​​​​​​​​Search Degrees​​

Find a degree, course or interest