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: 424350
Domestic Entry Cut-off: 97.00 
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)
View program information for previous years
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. 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. A minimum of 84 UOC are to be in Economics courses (or approved Non-ECON courses) and a minimum of 96 UOC in courses for the Bachelor of Actuarial Studies.
These UOC need to be made up of:
These UOC need to be made up of:
- Compulsory first and second year Actuarial and Economics courses
- Third year elective courses from Actuarial Studies
- Economics major requirements
- Economics electives
- ASB electives
- General education courses
Compulsory courses (90 UOC):
- ACCT1501 Accounting & Financial Mgt 1A (6 UOC)
- ACCT1511 Accounting & Financial Mgt 1B (6 UOC)
- ACTL1101 Intro Actuarial Studies (6 UOC)
- ACTL2102 Foundation of Actuarial Models (6 UOC)
- ACTL2111 Financial Maths for Actuaries (6 UOC)
- ACTL2131 Probability & Math Stat (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)
- FINS1613 Business Finance (6 UOC)
- MATH1151 Maths - Actuarial & Finance 1A (6 UOC)
- MATH1251 Maths - Actuarial & Finance 1B (6 UOC)
- MGMT1001 Managing Organisations&People (6 UOC)
Student may replace ACTL2131 with the two courses MATH2901 Higher Theory of Statistics and MATH2931 Higher Linear Models. If students make this replacement, the first of these courses (i.e. MATH2901) will count towards the compulsory course requirement, and the second course can be counted towards another major or minor or as an elective. Note that a minimum of 84 UOC must be completed in ASB courses for the Bachelor of Actuarial Studies.
Level 3 elective courses from Actuarial Studies (18 UOC) are to be selected from:
- ACTL3141 Actuarial Models & Statistics (6 UOC)
- ACTL3151 Life Contingencies (6 UOC)
- ACTL3162 General Insurance Techniques (6 UOC)
- ACTL3182 Asset-Liability & Derivative M (6 UOC)
The requirements of the Bachelor of Economics (24 UOC additional to compulsory courses)
- Students must complete at least one major in Economics, Econometrics or Financial Economics consisting of ten courses (60UOC).
- An economics major includes six courses (36UOC) from the economics compulsory first and second year core courses. (Note that ACCT1501 and ECON1401 do not count towards an economics major. In addition, for Bachelor of Actuarial Studies students MATH1151 is a substitute for ECON1202, and MATH1251 is a substitute for ECON1203).
- For each economics major, students must complete an additional four economics courses, including at least three (3) level 3 courses (numbered 3XXX). If a student chooses to complete a second Economics major, and the Majors have courses in common outside the core courses, the common courses can only be counted towards one major.
Economics electives (12 UOC): students are required to complete an additional two Economics courses (12 UOC) to complete the requirement for 84 UOC of Economics courses.
ASB electives (36 UOC): These courses must be taken from Actuarial Studies, Economics or from another School from the Australian School of Business. These UOC can also be made up of additional actuarial studies or economics courses, or as part of a minor or major approved for the Bachelor of Actuarial Studies or Bachelor of Economics. Note that, for some majors, additional study of courses above the minimum stipulated for the dual degree program may be required.
ASB electives (36 UOC): These courses must be taken from Actuarial Studies, Economics or from another School from the Australian School of Business. These UOC can also be made up of additional actuarial studies or economics courses, or as part of a minor or major approved for the Bachelor of Actuarial Studies or Bachelor of Economics. Note that, for some majors, additional study of courses above the minimum stipulated for the dual degree program may be required.
Table A- Area(s) of Economics Specialisation:
- Econometrics
- Economics
- Financial Economics
Table B- Approved Majors from within the ASB:
- Accounting
- Business Law
- Finance
- Human Resource Management
- Information Systems
- International Business
- Management
- Marketing
- Real Estate Studies
- 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
High achieving students may apply to undertake honours. Honours is a separate 1 year program of full-time study which provides students with advanced knowledge of their chosen field and develops research and communication skills. Students will need to complete advanced courses/seminars and a thesis.
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
Content of Program
To be awarded a degree at Pass level, the BActSt/BEc must contain:
1. A minimum of 192 units of credit (UOC).
2. A minimum of 84 UOC of Economics courses.
3. Economics courses includes specified non-Economics courses, eg ACCT1501 (part of Economics core), ACCT3563/ACCT3573 (Hons) and ACCT3583/ACCT3593 (Hons) and the School of Psychology in the Faculty of Science, specifically PSYC3001.
4.90 UOC of compulsory courses (60 UOC of Level 1, and 30 UOC of Level 2)
5. At least one Major from within Economics (Table A) Please refer to Table A on the Bachelor of Actuarial Studies/Bachelor of Economics 3588 program page.
6. At least 18UOC of elective Level 3 actuarial studies courses.
7. 12 UOC courses from outside the ASB to fulfil the University’s General Education requirement.
8. Maximum of 72 UOC of Level 1 courses, excluding Level 1 courses completed as part of the General Education Requirement.
Majors and Minors
9. A Major in the ASB is a sequence of at least 48UOC courses in a single discipline or area of study. An Economics Major is a sequence of 60 UOC courses in a single discipline or area of study. A Major in the School of Mathematics and Statistics comprises at least 60 UOC
.
10. Students completing a Major in the School of Mathematics and Statistics may treat MATH 1151 as equivalent to MATH1141, and MATH1251 as equivalent to MATH1241 for the purposes of completing major requirements.
11. If a student chooses to complete a second Economics major, and the Majors have courses in common outside the core economics courses, the common courses can only be counted towards one major.
12. 18 UOC of an ASB Major must be at Level 3.
13. If a student chooses to complete an ASB Minor, it will consist of 30UOC, with a minimum of 18UOC at Level 2 and Level 3.
Progression Rules
14. A minimum of 24 UOC of courses must be completed before enrolling in Level 2 courses.
15. A minimum of 48 UOC of courses must be completed before enrolling in Level 3 courses.
16. Students must declare their BEc major before commencing Year 2. (No such rule applies to the BActSt.)
Other rules in the BActSt and BEc will apply wherever relevant.
To be awarded a degree at Pass level, the BActSt/BEc must contain:
1. A minimum of 192 units of credit (UOC).
2. A minimum of 84 UOC of Economics courses.
3. Economics courses includes specified non-Economics courses, eg ACCT1501 (part of Economics core), ACCT3563/ACCT3573 (Hons) and ACCT3583/ACCT3593 (Hons) and the School of Psychology in the Faculty of Science, specifically PSYC3001.
4.90 UOC of compulsory courses (60 UOC of Level 1, and 30 UOC of Level 2)
5. At least one Major from within Economics (Table A) Please refer to Table A on the Bachelor of Actuarial Studies/Bachelor of Economics 3588 program page.
6. At least 18UOC of elective Level 3 actuarial studies courses.
7. 12 UOC courses from outside the ASB to fulfil the University’s General Education requirement.
8. Maximum of 72 UOC of Level 1 courses, excluding Level 1 courses completed as part of the General Education Requirement.
Majors and Minors
9. A Major in the ASB is a sequence of at least 48UOC courses in a single discipline or area of study. An Economics Major is a sequence of 60 UOC courses in a single discipline or area of study. A Major in the School of Mathematics and Statistics comprises at least 60 UOC
.
10. Students completing a Major in the School of Mathematics and Statistics may treat MATH 1151 as equivalent to MATH1141, and MATH1251 as equivalent to MATH1241 for the purposes of completing major requirements.
11. If a student chooses to complete a second Economics major, and the Majors have courses in common outside the core economics courses, the common courses can only be counted towards one major.
12. 18 UOC of an ASB Major must be at Level 3.
13. If a student chooses to complete an ASB Minor, it will consist of 30UOC, with a minimum of 18UOC at Level 2 and Level 3.
Progression Rules
14. A minimum of 24 UOC of courses must be completed before enrolling in Level 2 courses.
15. A minimum of 48 UOC of courses must be completed before enrolling in Level 3 courses.
16. Students must declare their BEc major before commencing Year 2. (No such rule applies to the BActSt.)
Other rules in the BActSt and BEc will apply wherever relevant.
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: Level 1, room 1028, Quadrangle Building
Forms, policies and procedures
Frequently asked questions
Contact the Australian School of Business Student Centre for advice.
tel: + 61 2 9385 3189
location: Level 1, room 1028, Quadrangle Building
Forms, policies and procedures
Frequently asked questions
Related Program(s)
3543 Economics
3586 Actuarial Studies
Area(s) of Specialisation
