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Bachelor of Actuarial Studies / Bachelor of Commerce

Develop analytical math skills and business knowledge in Accounting, Finance, Information Systems and more.

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Graduate with two accredited degrees that are highly regarded by industry. The Bachelor of Actuarial Studies / Bachelor of Commerce at UNSW Sydney provides an expansive and complementary skillset that stands out in competitive job markets. Gain professional accreditation as an actuary and a strong foundation in business, with the flexibility to specialise in up to two different business areas.

During the four-year program, you will supercharge your math skills to analyse and solve business problems. Explore course options including fintech, information systems and actuarial risk management. The degrees incorporate global work/study opportunities and practical real-world experience including internships, mentoring and career networking.

Graduates are prepared for success with relevant experience and connections. They gain a thorough fundamental understanding of their chosen industry and build the specialist quantitative techniques that lead to key professional roles.

Why choose this bachelor degree?

Design a degree to suit your career goals. The Bachelor of Actuarial Studies / Bachelor of Commerce offers professional development and accreditation, and a selection of exciting majors and electives.

You will begin with foundations in accounting, financial management, actuarial studies, probability, economics, business finance and people management. From there, delve into actuarial modelling, stats, financial mathematics and more.

You can choose one or two Commerce majors from fields including accounting, finance, economics, information systems, fintech, human resources, management, marketing, business law, taxation, real estate or international business.

See the program structure for detailed information.

Professional development and accreditation

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

This degree is professionally recognised and provides a career-ready standard of knowledge. Depending on the majors and courses chosen, accreditation is available from the Institute of Actuaries of Australia, the Australian Human Resources Institute, Australian Securities and Investment Commission, CPA Australia, Chartered Accountants Australia and New Zealand, ACCA and Institute of Public Accountants. Relevant courses are approved for VEE by the Society of Actuaries (SOA) in the US.

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 / Bachelor of Commerce 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, decision making, and complicated mathematics.

Who is this degree for?

  • High-achieving, business-minded students with strong maths skills
  • Those who want to strengthen career opportunities with a wide-ranging education
  • Job and career prospects

    You have a wide range of career options with this specialist double degree, including:

    • Accountant/Auditor
    • Actuarial Analyst
    • Commercial Manager
    • Consultant
    • Customer Experience Officer
    • Cyber Security Analyst
    • Data Analyst
    • Data Scientist
    • Digital Innovation Officer
    • Economist
    • Financial Adviser
    • Human Resource Consultant
    • ICT Business/System Analyst
    • International Business Development Manager
    • Investment Banker
    • Management Consultant
    • Marketing/Brand Manager
    • Property Business Analyst
    • Recruitment Officer
    • Risk Assessment Officer
    • Strategist
    • Superannuation Adviser
    • Tax Adviser
    • Venture Capitalist

    Find out how we prepare our graduates for career success

    Why UNSW Business School?

    UNSW Business School is a leading business school in the Asia-Pacific, with our subjects consistently ranking within the top 50 worldwide. We rank 1st worldwide for Risk and Actuarial Studies. Within Australia, we rank 1st for Accounting and Finance, and 2nd for Business and Management studies. Worldwide, these subjects rank within the Top 50 along with Economics and Econometrics, and Computer Science and Information Systems. 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 double 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/Bachelor of Commerce is a 4 year dual degree program consisting of 32 courses (192 UOC). The program includes:

    • Actuarial Studies core courses
    • Three level 3 Actuarial Studies electives
    • Commerce core courses
    • One commerce major
    • Business School electives*
    • General education courses (chosen from other faculties)

    *You can use these to complete a third major (from approved areas of study).

    Core courses

    Actuarial Studies and Commerce 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.

    MATH1251 Mathematics for Actuarial Studies and Finance 1B

    Complex numbers, vector spaces, polynomial interpolation, linear transformations, Markov processes, eigenvalues and eigenvectors. Exact and numerical solution of ordinary differential equations, sequences, double integrals, Lagrange multipliers.

    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.

    Commerce core course

    Choose one flexible core course from

    COMM1000 Creating Social Change: From Innovation to Impact

    Visit the CSI website for more information about this course.

    INFS1602 Digital Transformation in Business

    This is a foundational (Level 1) Information Systems (IS) course that introduces students to the use of IS in business and society. As an overarching theme, INFS1602 examines the issues and management of IS in relation to human behaviour and its consequences. Through this course, students will learn to appreciate existing and emerging technologies affecting businesses, business relationships and their products and services. In taking this course, students will be provided with tasks and assignments that will aid in refining their professional business skills and the ability to evaluate the value of technology to businesses. This includes communication and group work skills, time management and research skills.

    The topics that are covered in INFS1602 include understanding the role of Information Systems and IS Professionals in Global Business, the relationship between Information Systems, Organisations, and Strategy, the dominant Business Models enabled by the Internet and the emergence of Web 2.0 technology. The course will also explore contemporary technology-enabled phenomena that are disruptive to the current business landscape such as Sharing Economy, Blockchain and the Internet of Things. The course also touches on popular enterprise-level information systems such as Enterprise Systems, Supply Chain and Customer Relationship Management Systems and the emergence of business intelligence in supporting organisation decision making. The course also involves discussion of the considerations behind the acquisition and building of IS and the issues common to the management of IS projects. Lastly, the course addresses the need to secure the IS and the potential ethical and social issues faced by businesses in relation to their use of IS.

    MARK1012 Marketing Fundamentals

    In today’s business world, marketing is viewed as central to creating and delivering value both to the organisation and to the customer. It impacts all aspects of a business organisation, shaping and directing corporate through to marketing strategy. Many companies acknowledge that their growth and survival depends on putting the customer at the centre of their planning. Thus, an understanding of marketing is essential for any business student.

    This course introduces the student to the major concepts and theories, reflecting the breadth and diversity of marketing. It provides insights into where marketing fits within an organisation, its contributions to business in general, describes frameworks supporting marketing activities, and helps with challenges in the ever changing market place. It discusses the application of this understanding to consumer goods, as well as service, business-to-business, industrial and non-profit organizations, and to the growing area of e-commerce.

    Topics include: marketing processes and planning, the use of market research, an understanding of consumers and customers, decision-making and the marketing mix, market segmentation, positioning and product differentiation, the changing global environment.

    MGMT1101 Global Business Environment

    This course examines key global environmental factors and issues impacting on the development of international business. Major topics include:
     
    • Globalisation of business
    • National differences in the political, social and legal environment, political and country risk
    • Cultural differences and their impact on international business
    • Ethical issues in international business
    • International trade issues
    • Theory and politics of foreign direct investment
    • International competitiveness
    • The internationalisation of business activities and the development of multinational enterprises
    • Foreign exchange markets
    • The international monetary system and development of the global capital market

    TABL1710 Business and the Law

    This subject deals with the Australian legal system; the Constitution and Commonwealth/State relations; Parliament and statute law; the courts and case law; the executive and administrative law; the legal process and alternative dispute resolution. Areas of substantive law relevant to commerce are examined including property law (with particular reference to intellectual property), tort law (with particular reference to negligence), contract law, competition law and consumer protection law.

    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.



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    Quick facts for students

    Program code
    3155
    UAC code
    424350
    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)
    192
    Study Mode
    Face to face
    Duration
    4 years full-time, 8 years part-time
    Commencing terms
    Term 1 - February
    Term 2 - June
    Term 3 - September
    HECS fee band
    Band 3
    Program fee (total)
    $45,432

    ​​​​​​​Area of Study

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