Actuarial Studies (Extension) - 8416
Program Summary
Faculty: UNSW Business School
Contact: UNSW Business School Student Centre
Campus: Sydney
Career: Postgraduate
Typical Duration: 2 Years 
Typical UOC Per Semester: 24
Min UOC Per Semester: 6
Max UOC Per Semester: 24
Min UOC For Award: 96
Award(s):
Master of Actuarial Studies (Specialisation)
View program information for previous years
Program Description
The Master of Actuarial Studies (Extension) is designed graduates with a strong background in actuarial studies, econometrics mathematics or statistics. Graduates can study courses to prepare them for an actuarial career.
The Master of Actuarial Studies (Extension) lengthens the Master of Actuarial Studies degree program, allowing students to include an additional 4 courses (24UOC) from the more advanced postgraduate actuarial studies courses or to include course options from related disciplines in the university such as economics, finance, or statistics.
For graduates of an undergraduate program in Actuarial Studies, the Master of Actuarial Studies allows them to complete courses equivalent to the Part I professional courses that they have yet to complete. They can also complete the Part II courses of the Institute of Actuaries of Australia and include optional courses to assist with the later professional Fellowship examinations. They can also broaden their actuarial training by including relevant courses in the Faculty at postgraduate level in other disciplines through selection of electives.
The Master of Actuarial (Extension) allows graduates to obtain and develop the required competencies to enter an actuarial career and provides quantitative risk management training for entry into the financial services industry. The program covers the professional actuarial subjects and includes options in actuarial studies, quantitative risk management, and other related disciplines.
Program Objectives and Graduate Attributes
Learning goals and associated learning outcomes for the Master of Actuarial Studies (Extension):
- Knowledge: Our graduates will have current Actuarial knowledge applicable in local and global contexts.
- Critical thinking and problem solving: Our graduates will have critical thinking and problem solving skills applicable to business and/or management practice or issues.
- Communication: Our graduates will be effective communicators in professional contexts.
- Teamwork: Our graduates will be effective team participants.
- Ethical, social and environmental responsibility: Our graduates will be aware of ethical, social, cultural and environmental implications of business issues and practice.
Program Structure
The Master of Actuarial Studies (Extension) program consists of 16courses (96 UOC), 4 core courses and 12 electives selected from the courses offered in actuarial studies.
The typical duration is 2 years full-time or 4 years part-time.
The typical duration is 2 years full-time or 4 years part-time.
Core courses
- ACTL5101 Prob.& Statis. for Actuaries (6 UOC)
- ACTL5102 Financial Mathematics (6 UOC)
- ACTL5108 Finance for Actuaries (6 UOC)
- ECON5103 Business Economics (6 UOC)
Elective courses
Choose twelve elective actuarial courses from the following list:
- ACTL5002 Super & Retire Benefits (6 UOC)
- ACTL5004 Project Report - Act. Stud. (12 UOC)
- ACTL5100 Actuarial Theory & Pract. A (6 UOC)
- ACTL5103 Stochastic Model. for Act. (6 UOC)
- ACTL5104 Actuarial Statistics (6 UOC)
- ACTL5105 Life Insurance & Super. (6 UOC)
- ACTL5106 Insurance Risk Models (6 UOC)
- ACTL5109 Financial Economics (6 UOC)
- ACTL5200 Actuarial Theory & Practice B (6 UOC)
- ACTL5301 Models for Risk Management (6 UOC)
- ACTL5302 Risk and Capital Management (6 UOC)
- ACTL5303 Asset-Liability Management (6 UOC)
- ACTL5306 Retirement Saving and Spending (6 UOC)
- ACTL5401 Retirement Planning (6 UOC)
- RISK5001 Fundamentals Risk & Risk Mgmt (6 UOC)
- RISK5002 Risk Tools (6 UOC)
- RISK5003 Risk Decisions (6 UOC)
- RISK5009 Risk Management Strategies (6 UOC)
Note: Students have the ability to choose a maximum of 6 non actuarial courses to complete the program. Enrolment into the courses, are subject to approval from the School of Risk & Actuarial and the disciplinary school offering the course.
A list of approved courses (from the viewpoint of the School of Risk and Actuarial Studies) is listed below.
A list of approved courses (from the viewpoint of the School of Risk and Actuarial Studies) is listed below.
- ECON5106 Economics of Finance (6 UOC)
- ECON5206 Financial Econometrics (6 UOC)
- ECON5248 Business Forecasting (6 UOC)
- ECON6003 Econometric Analysis (6 UOC)
- FINS5513 Investments & Portfolio Sel. (6 UOC)
- FINS5514 Capital Budgeting&Fin Decision (6 UOC)
- FINS5517 Applied Portfolio Mgt. & Model (6 UOC)
- FINS5530 Financial Institution Mgmt (6 UOC)
- FINS5535 Derivatives & Risk Mgt. Techs. (6 UOC)
- FINS5536 Fixed Income Sec. & Int. Rate (6 UOC)
- MATH5335 Comput'l Methods for Finance (6 UOC)
- MATH5806 Applied Regression Analysis (6 UOC)
- MATH5816 Continuous Time Fin'l Model'g (6 UOC)
- MATH5836 Data Mining (6 UOC)
- MATH5845 Time Series (6 UOC)
- MATH5905 Statistical Inference (6 UOC)
- MATH5916 Survival Analysis (6 UOC)
- MATH5965 Discrete Time Fin'l Modelling (6 UOC)
- MATH5975 Intro to Stochastic Analysis (6 UOC)
- MATH5985 Term Structure Modelling (6 UOC)
- RISK5007 Ope Risk Analysis and Mgmt (6 UOC)
Academic Rules
- Enrolment into the Masters of Actuarial Studies (Extension)
- Complete of 16courses (96UOC)
- Complete 4 core courses and 12 elective courses
- If you require a progression check for your degree, complete an online request form: www.business.unsw.edu.au/onlineforms
Fees
For information regarding fees for UNSW programs, please refer to the following website: https://my.unsw.edu.au/student/fees/FeesMainPage.html
Recognition of prior learning or professional recognition
- Advanced standing may be granted for similar courses already completed but not used for another award up to a maximum of two courses including any exemptions.
- Courses covered in a completed undergraduate program equivalent to those in the core may be granted exemption from the corresponding core courses up to a maximum of 4 core courses.
- Students completing the examinations for the Fellowship of the Institute of Actuaries of Australia, the Institute of Actuaries (UK) or the Society of Actuaries through the professional examinations may receive up to two exemptions in addition to those granted for the core courses (up to 4). They will be required to complete at least 10 courses in the program.
Entry Requirements
A recognised Bachelor degree (or equivalent) majoring in actuarial studies, econometrics, mathematics or statistic, with a credit average grade, as determined by UNSW Business School.
Semester 2 courses in Actuarial Studies assume that students have the required background knowledge from previous studies. Prospective students who plan to commence in semester 2 should consult the School of Risk and Actuarial Studies office prior to application in order to determine if they have the required background. Students who have a very strong background in Mathematics, Statistics, Econometrics or Finance and Financial Mathematics may be allowed to enrol in the semester 2 Actuarial Studies courses.
Semester 2 courses in Actuarial Studies assume that students have the required background knowledge from previous studies. Prospective students who plan to commence in semester 2 should consult the School of Risk and Actuarial Studies office prior to application in order to determine if they have the required background. Students who have a very strong background in Mathematics, Statistics, Econometrics or Finance and Financial Mathematics may be allowed to enrol in the semester 2 Actuarial Studies courses.
Professional Accreditation
The Institute of Actuaries of Australia
The Master of Actuarial Studies is fully accredited by the Institute of Actuaries of Australia for both Part I and Part II subjects and recognised for exemptions by the Institute of Actuaries (London) for the Core Technical subjects. For more details please refer to the Professional Recognition of Programs in the Online Handbook or by contacting The Institute of Actuaries of Australia.
The Master of Actuarial Studies is fully accredited by the Institute of Actuaries of Australia for both Part I and Part II subjects and recognised for exemptions by the Institute of Actuaries (London) for the Core Technical subjects. For more details please refer to the Professional Recognition of Programs in the Online Handbook or by contacting The Institute of Actuaries of Australia.
Further Information
Please note that these requirements may be subject to change.
Students are advised to follow requirements according to the year they commenced. Please refer to previous editions of the Online Handbook for your program requirements.
Contact the UNSW Business School Student Centre for advice.
tel: + 61 2 9385 3189
location: Level 1, room 1028, Quadrangle Building
Forms, policies and procedures
Frequently asked questions
Students are advised to follow requirements according to the year they commenced. Please refer to previous editions of the Online Handbook for your program requirements.
Contact the UNSW Business School Student Centre for advice.
tel: + 61 2 9385 3189
location: Level 1, room 1028, Quadrangle Building
Forms, policies and procedures
Frequently asked questions
Area(s) of Specialisation
