Actuarial Studies / Economics - 3588
Program Summary
Faculty: Australian School of Business
Contact: Australian School of Business Student Centre
Campus: Sydney
Career: Undergraduate
Typical Duration: 4 Years
Typical UOC Per Semester: 24
Min UOC Per Semester: 6
Max UOC Per Semester: 24
Min UOC For Award: 192
UAC Code: 424011
International Entry Requirements: See International Entry Requirements
Award(s):
Bachelor of Actuarial Studies
Bachelor of Actuarial Studies (Major)
Bachelor of Economics (Honours)
Bachelor of Economics (Major)
Information valid for students commencing 2013.
Students who commenced prior to 2013 should go to the Handbook's Previous Editions
Program Description
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 Australian School of Business.
The typical duration of this program is 4 years full-time. For admission to the program, students must satisfy the entry requirements to both the Bachelor of Actuarial Studies and the Bachelor of Economics programs.
With approval, students with an excellent academic record may also enrol in an additional Honours year in the Bachelor of Economics degree or in the Bachelor of Actuarial Studies degree.
For questions regarding requirements for the program, students should consult staff in the Australian School of Business Student Centre. Specific questions may be directed to the School of Risk & Actuarial Studies or the School of Economics.
Program Objectives and Graduate Attributes
Please refer to the program objectives as listed for the Bachelor of Actuarial Studies 3586 program and the Bachelor of Economics 3453 program.
Program Structure
A total of 192 units of credit is required to complete this dual degree program. Students must satisfy the following requirements for the Bachelor of Actuarial Studies and Bachelor of Economics components.
Where the requirements for the two programs are completed in less than 192 units of credit due to overlapping courses, students may satisfy the remaining units of credit from those offered by the Australian School of Business or other Faculties within UNSW.
The requirements of the BEc in dual mode (96UOC):
84 UOC of Economics courses consisting of:
Where the requirements for the two programs are completed in less than 192 units of credit due to overlapping courses, students may satisfy the remaining units of credit from those offered by the Australian School of Business or other Faculties within UNSW.
The requirements of the BEc in dual mode (96UOC):
84 UOC of Economics courses consisting of:
- Compulsory first and second year courses account for 48 UOC (8 courses – see list below)
- Major requirements
- Electives offered by the School of Economics – a minimum of 12 UOC.
And 12 UOC of Free electives
Compulsory core courses:
Compulsory core courses:
- ACCT1501 Accounting & Financial Mgt 1A (6 UOC)
- ECON1101 Microeconomics 1 (6 UOC)
- ECON1102 Macroeconomics 1 (6 UOC)
- ECON1401 Economic Analysis (6 UOC)
- ECON2101 Microeconomics 2 (6 UOC)
- ECON2206 Introductory Econometrics (6 UOC)
- MATH1151 Maths - Actuarial & Finance 1A (6 UOC)
- MATH1251 Maths - Actuarial & Finance 1B (6 UOC)
Please note:
* For students doing the BActSt/BEc dual program, ACTL1101 and ACTL1122 (core BActSt courses) can be counted as a substitute for ACCT1501 in the BEc core. This gives students another free option, and allows scope for students to complete an additional major (see below). This rule is specific to the BActSt/BEc program, that is, it does apply to other BEc programs. (Note: there is no exclusion from doing the course ACCT1501 which provides a valuable basic training in accounting.)
For students wishing to do an Accounting Major in the BActSt/BEc, they would be required to do ACCT1501 Accounting & Financial Mgt 1A and ACCT1511 Accounting & Financial Mgt 1B. However, note that the rules for Bachelor of Actuarial Studies mean that students who do ACCT1501 and ACCT1511 are not required to do ACTL1122.
** Bachelor of Actuarial Studies students should note that:
MATH1151 is a substitute for ECON1202.
MATH1251 is a substitute for ECON1203.
Students should do the MATH courses which are required in the Bachelor of Actuarial Studies program, as the ECON courses are not substitutes for these courses. No credit will be given if students complete courses which are substitutes.
# These four courses are also part of the compulsory core of courses in the Bachelor of Actuarial Studies. This allows students the option of doing additional electives from those offered by all Schools in the Australian School of Business.
* For students doing the BActSt/BEc dual program, ACTL1101 and ACTL1122 (core BActSt courses) can be counted as a substitute for ACCT1501 in the BEc core. This gives students another free option, and allows scope for students to complete an additional major (see below). This rule is specific to the BActSt/BEc program, that is, it does apply to other BEc programs. (Note: there is no exclusion from doing the course ACCT1501 which provides a valuable basic training in accounting.)
For students wishing to do an Accounting Major in the BActSt/BEc, they would be required to do ACCT1501 Accounting & Financial Mgt 1A and ACCT1511 Accounting & Financial Mgt 1B. However, note that the rules for Bachelor of Actuarial Studies mean that students who do ACCT1501 and ACCT1511 are not required to do ACTL1122.
** Bachelor of Actuarial Studies students should note that:
MATH1151 is a substitute for ECON1202.
MATH1251 is a substitute for ECON1203.
Students should do the MATH courses which are required in the Bachelor of Actuarial Studies program, as the ECON courses are not substitutes for these courses. No credit will be given if students complete courses which are substitutes.
# These four courses are also part of the compulsory core of courses in the Bachelor of Actuarial Studies. This allows students the option of doing additional electives from those offered by all Schools in the Australian School of Business.
Major requirements
- Students must complete at least one major in Economics, Econometrics or Financial Economics consisting of ten courses (60UOC).
- A Major includes six courses (36UOC) from the compulsory first and second year core courses. (ACCT1501 and ECON1401 do not count towards a major.)
- For each major, students must complete an additional four courses, including at least three (3) level 3 courses (numbered 3XXX).
Requirements for the Bachelor of Actuarial Studies in dual degree mode (96 UOC):
- 84 UOC of Compulsory Courses (14 courses – see list below)
- 12 UOC of electives offered by Schools in the Australian School of Business
Compulsory core courses:
- ACTL2102 - Time Series and Simulation
- ACTL2111 - Compound Interest Theory and Applications
- ACTL2131 - Probability and Mathematical Statistics
- ACTL3141 - Actuarial Models and Statistics
- ACTL3151 - Life Contingencies
- ACTL3162 - General Insurance Techniques
- ACTL3182 - Asset-Liability and Derivative Models
Please note:
* ACTL1122 can be replaced with the two courses ACCT1501 Accounting & Financial Mgt 1A and ACCT1511 Accounting & Financial Mgt 1B.
** ACTL2131 can be replaced with the two courses MATH2091 Higher Theory of Statistics and MATH2931 Higher Linear Models.
# These four courses are also part of the compulsory core of courses in the Bachelor of Economics. This allows students the option of doing additional electives from those offered by all Schools in the Australian School of Business.
* ACTL1122 can be replaced with the two courses ACCT1501 Accounting & Financial Mgt 1A and ACCT1511 Accounting & Financial Mgt 1B.
** ACTL2131 can be replaced with the two courses MATH2091 Higher Theory of Statistics and MATH2931 Higher Linear Models.
# These four courses are also part of the compulsory core of courses in the Bachelor of Economics. This allows students the option of doing additional electives from those offered by all Schools in the Australian School of Business.
Electives, General Education and Other ASB majors
The four common courses in the BEc and BActSt compulsory cores, and the rules regarding ACCT1501 and the ACTL1101/1122, mean that students have a combined six or eight free elective courses (36 or 48 UOC) and two courses (12 UOC) of General Education.
The balance of electives must be taken from courses offered by the ASB. The number of free electives may leave scope for students to take an additional ASB major. General Education courses must be taken outside the ASB please see more information on General Education requirements.
The balance of electives must be taken from courses offered by the ASB. The number of free electives may leave scope for students to take an additional ASB major. General Education courses must be taken outside the ASB please see more information on General Education requirements.
Area(s) of Economics Specialisation
- Econometrics
- Economics
- Financial Economics
Other Area(s) of Specialisation
- Accounting
- Business Law
- Finance
- Human Resource Management
- Information Systems
- International Business
- Management
- Marketing
- Taxation
General Education Requirements
General Education requirements account for 12 UOC (2 courses) and are to be taken outside the Australian School of Business. These courses allow you to select either courses that were developed especially for the General Education Program (beginning with GEN) or to choose 'mainstream' courses that are offered in the degree programs of other faculties. For further information about General Education Requirements please refer to the UNSW Online Handbook.
Please note that students enrolled in programs within the Australian School of Business cannot take General Education courses offered by the Business School. These restrictions also apply to the following courses:
Please note that students enrolled in programs within the Australian School of Business cannot take General Education courses offered by the Business School. These restrictions also apply to the following courses:
- GENL2015 The World of Work
- GENL2021 An Introduction to the Australian Legal System
- GENL2032 Cyberspace Law 2.0
- GENL5021 Business Law Basics
If students are unsure of their General Education requirements they should contact the Australian School of Business Student Centre (Ground floor, West entrance, Australian School of Business building)
Honours
Eligible students may proceed to Honours in either the Bachelor of Actuarial Studies or the Bachelor of Economics. Students may commence the relevant Honours program only when they have completed the requirements for the equivalent of a single degree for that program (i.e. where a Actuarial Studies student in a dual degree would like to commence Honours they must have completed at least the 96 UOC Actuarial Studies core degree plus 48 units of credit for the Economics degree such that a total of 144 UOC has been completed).
For further information relating to Honours in these two programs, please see Actuarial Studies program and to the School of Economics Honours program website.
For further information relating to Honours in these two programs, please see Actuarial Studies program and to the School of Economics Honours program website.
Academic Rules
BAct and BEc Progression Rules
1. A minimum of 24 UOC of courses must be completed before enrolling in Level 2 courses.
2. A minimum of 48 UOC of courses must be completed before enrolling in Level 3 ECON courses and a minimum of 72 UOC of courses must be completed before enrolling in Level 3 ACTL courses.
Students must declare their economics major in the BEc before commencing Year 2. (No such rule applies to the BActSt.)
1. A minimum of 24 UOC of courses must be completed before enrolling in Level 2 courses.
2. A minimum of 48 UOC of courses must be completed before enrolling in Level 3 ECON courses and a minimum of 72 UOC of courses must be completed before enrolling in Level 3 ACTL courses.
Students must declare their economics major in the BEc before commencing Year 2. (No such rule applies to the BActSt.)
Fees
For information regarding fees for UNSW programs, please refer to the following website: https://my.unsw.edu.au/student/fees/FeesMainPage.html
Professional Recognition
For further information, please refer to the Professional Recognition of Programs in the UNSW Online Handbook.
Further Information
Please note that these requirements may be subject to change. Students should always follow the program requirements according to the year they started their degree. For more information please visit Previous UNSW Online Handbooks
Contact the Australian School of Business Student Centre for advice.
tel: + 61 2 9385 3189
location: Ground Floor, West Wing, Australian School of Business Building
Forms, policies and procedures
Frequently asked questions
Contact the Australian School of Business Student Centre for advice.
tel: + 61 2 9385 3189
location: Ground Floor, West Wing, Australian School of Business Building
Forms, policies and procedures
Frequently asked questions
Related Program(s)
3543 Economics
3586 Actuarial Studies
Area(s) of Specialisation
