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Bachelor of Actuarial Studies / Bachelor of Science

Develop highly analytical skills in math and scientific methodology across a broad range of exciting topics.

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Graduate with two degrees that are highly regarded by industry. The Bachelor of Actuarial Studies / Bachelor of Science at UNSW Sydney provides two specialised skillsets that stand out in competitive job markets. Gain powerful mathematical knowledge and professional accreditation as an Actuary, combined with strong methodological scientific skills in a fascinating field of knowledge.

During the four-year program you can explore Actuarial course options including actuarial models, statistics, data and analytics; and major in Science fields such as biotechnology, materials science and physics. 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 real-world experience and connections. They gain a thorough fundamental understanding of their chosen industry and specialist quantitative techniques that lead to key professional roles.

Why choose this bachelor degree?

UNSW Business School is a leading business school in the Asia-Pacific, and we rank 1st worldwide for Risk and Actuarial Studies. The Faculty of Science consistently ranks within the Top 50 worldwide for different study topics.

You will begin with business 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 a science major from many fields including but not limited to biotechnology, mathematics, materials science, statistics, neuroscience and physics. 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 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.

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 Science is designed to train your mind to adapt to future challenges. You will understand sophisticated mathematical techniques, practise problem-solving, and build skills in critical thinking and decision making.

Talented Students Program

The Talented Students Program (TSP) helps eligible students in the Bachelor of Science and Bachelor of Advanced Science (Honours) develop specific skills during their degree. It offers exposure to research within the Faculty and provides flexibility and tailoring to suit the needs and talents of our students. Invitation to participate in the TSP is made by the Dean of Science on the basis of superior secondary education performance (ATAR or equivalent).

Who is this degree for?

  • Analytical and creative thinkers who have exceptional maths skills
  • High achieving students with a deep curiosity for scientific methodology
  • Those who want to strengthen career opportunities with an extra-comprehensive education

Job and career prospects

With this double degree, you are well positioned to pursue a career in the actuarial or financial services industry; or you might end up with an exciting role in a science-related industry, including:

  • Clinical Research Associate
  • Consultant
  • Food Technologist
  • Laboratory Technician
  • Quality Assurance Officer
  • Research Scientist
  • Statistician

Find out how we prepare our graduates for career success

Why UNSW Business School?

Our students build professional networks among more than 90,000 Business School alumni worldwide and begin their new career before graduation. This advanced 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.

Why study an undergrad degree
 

The Bachelor of Actuarial Studies/Bachelor of Science is a 4 year dual degree program consisting of 32 courses (192 UOC). The program includes:

  • 12 core courses
  • Three level 3 Actuarial Studies electives
  • One Business School elective
  • One science major
  • Science electives

You must complete at least 16 courses (96 UOC) for actuarial studies and 16 courses (96 UOC) for science.

Core courses

Actuarial studies course

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 (e.g., shareholders, investment analysts, lenders, managers etc). This unit should benefit students who wish to specialise in accounting and those 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, the accounting for key balance sheet assets, and interpreting and preparing information for managers to use in planning, decision making and control.

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ACCT1511 Accounting and Financial Management 1B

​Taken together, the accounting course in the compulsory core (ACCT1501) 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 students’: 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; and familiarity with institutional structures that affect the practice of accounting.

Topics covered in this course will include accounting for non-current assets and liabilities, revenues and expenses, balance sheet and income statement preparation, cash flow statements, ratio analysis, accounting policy choice and further detail on management accounting (including costing systems and budgeting).

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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.

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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.

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ACTL2111 Financial Mathematics for Actuaries

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

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ACTL2131 Probability and Mathematical Statistics

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

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ECON1101 Microeconomics 1

Economics is a social science that studies the ways in which people interact with one another and make decisions in a world with limited resources. The goal of this course is to provide you with the basic tools to “think like an economist” – that is, to be able to use basic economic principles to ask and answer questions about how the world works and the effect of policies. We will cover topics such as how individuals or firms make decisions about the demand or supply of a product, how we can determine the efficiency of a market, and how we evaluate the costs and benefits of government intervention in a market.

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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.

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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. Next, 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. Further, 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.

The course emphasizes the importance of Ethics in Finance. Students with no knowledge in finance will be introduced to conceptual foundations of ethics required to interpret professional standards arising from various industry advisory authorities on professional ethical conduct including the Banking Royal Commission, CFA Institute, and United Nations. In doing so, it provides a language in ethics to discuss ethical issues in the context of the finance profession.

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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.

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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.

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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.

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Areas of study (majors)

Other approved majors

Science courses

Program details
View full program details in the UNSW handbookThe official University guide to degree programs and courses offered at UNSW
Class timetable
View more information on the class timetable websiteThe official University class timetable website
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.

Make the most of every day on campus, with UNSW Australia Business School’s dynamic learning spaces, diverse social events and extensive student support.

Have fun and build your network

As an undergraduate, you have plenty of opportunities to meet new people and make friends. Join a student club, such as Arc (the UNSW student society), AIESEC, the Marketing Club, and many other interest groups. With over 180 social, cultural, sports and professional clubs there’s bound to be at least one that’s perfect for you! Find out more

All the support you need to achieve

We’ll help you settle in to university life with orientation and mentoring programs. There are study skills workshops, as well as career services and academic advice. Find out more

Stay active on campus

Exercise boosts your mental wellbeing and can help you deal with exam or assignment pressures. It’s easy to stay fit with state of the art sporting facilities on campus, including a 50m indoor pool, fitness centre, squash courts and a range of competitive sports teams.

Everything you need in one place

The UNSW Kensington campus is like a village hub, with cafes, bars, banks, a post office, medical and dental centres, and retail outlets. It’s a short bus trip to Sydney’s CBD, many beautiful beaches, the SCG and Centennial Park, and movie theatres at Fox Studios.

Make the most of every opportunity

Your undergraduate degree is a once in a lifetime experience, and the friends you make at the Business School could be friends for life. So get involved – as well as student clubs and social activities there are internships, volunteer projects, competitions and international exchanges on offer. It’s a great way to develop and practise your new business skills.

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Quick facts for students

Program code
3154
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)
$42,494
Related programs
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