Actuarial Studies / Science - 3154
Program Summary
Faculty: UNSW Business School
Contact: UNSW Business School 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 Requirements: See Domestic Entry Requirements
International Entry Requirements: See International Entry Requirements
Award(s):
Bachelor of Actuarial Studies
Bachelor of Science
View program information for previous years
Program Description
The Bachelor of Actuarial Studies / Bachelor of Science is a 4 year dual degree program which will meet the needs of students wanting a program of study in science, complemented with a strong, focused actuarial studies program. As part of this program students will complete a major stream in science, and a sequence of actuarial studies courses within the UNSW Business School.
With approval, students with an appropriate academic record may also enrol in a separate 1 year Honours program in the field of actuarial studies, or a separate 1 year Honours program within UNSW Science.
Program Objectives and Graduate Attributes
On successful completion of the BActSt component, students will be able to:
- demonstrate business knowledge and apply that knowledge in businessproblems
- demonstrate critical thinking and problem solving skills
- present complex issues in coherent written statements and oral presentations
- demonstrate understanding of actuarial issues in a local or global context
- demonstrate understanding of the principles of working collaboratively in teams
- demonstrate understand the social and ethical dimensions in actuarial work.
The Bachelor of Science component has been designed to:
- develop a working knowledge of scientific methods of investigation
- encourage curiosity and creative imagination, and an appreciation of the role of speculation in the selection and solution of problems, the construction of hypotheses, and the design of experiments
- develop an appreciation of scientific criteria and a concern for objectivity and precision
- develop confidence and skill in formulating problems and in treating both qualitative and quantitative data
- develop the ability and disposition to think logically, to communicate clearly by written and oral means, and to read critically and with understanding
- develop the habit of seeking and recognising relationships between phenomena, principles, theories, conceptual frameworks and problems
- promote understanding of the significance of science, technology, economics and social factors in modern society, and of the contributions they can make in improving material conditions
- provide opportunities for the development of students' motivations and social maturity, and an awareness of their capabilities in relation to a choice of career which will be fruitful to themselves and to society
- provide an opportunity to study science in combination with other disciplines
Program Structure
Studies leading to the award of the Bachelor of Actuarial Studies/Bachelor of Science combined degree normally consist of 192 UOC or 32 courses to be completed over 4 academic years. Where the requirements for the two programs are completed in less than 192 UOC due to overlapping courses, students may satisfy the remaining units of credit from those offered by the UNSW Business School or from within UNSW Science.
Bachelor of Actuarial Studies component:
Students are required to complete at least 96 UOC consisting of:
Bachelor of Actuarial Studies component:
Students are required to complete at least 96 UOC consisting of:
- Compulsory first and second year courses
- Third year elective courses from Actuarial Studies
- Three elective courses (18 UOC) from Actuarial Studies or the UNSW Business School.
Compulsory courses (72 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)
- 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)
Students 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 96 UOC must be completed in UNSW Business School courses for the Bachelor of Actuarial Studies.
Third year elective courses from Actuarial Studies (18 UOC) are to be selected from:
Third year elective courses from Actuarial Studies (18 UOC) are to be selected from:
Three additional Elective courses (18 UOC) from the School of Actuarial Studies, or from courses offered by another school in the UNSW Business School, must be completed to satisfy the depth component.
Bachelor of Science component:
Students are required to complete at least 96 UOC for the Bachelor of Science component, consisting of:
Bachelor of Science component:
Students are required to complete at least 96 UOC for the Bachelor of Science component, consisting of:
- BSc Major requirements
- Science Electives courses
BSc major requirements: Completion of the required courses for a major in one approved Science discipline. Majors in the Bachelor of Science range from 60 UOC to 90 UOC. Please refer to the majors available in Please refer to the majors available on the 3970 Bachelor of Science program page.
Science elective courses: These will typically account between 6 and 36 UOC in ‘science’ courses to ensure a student completes 96 UOC for the BSc component. The exact number of additional 'science' courses to be completed will depend on the major chosen. For details of what courses constitute ‘Science’ courses, please see the 3970 Bachelor of Science program page.
Other requirements: Students may not include more than 96 UOC of level I courses overall.
Science elective courses: These will typically account between 6 and 36 UOC in ‘science’ courses to ensure a student completes 96 UOC for the BSc component. The exact number of additional 'science' courses to be completed will depend on the major chosen. For details of what courses constitute ‘Science’ courses, please see the 3970 Bachelor of Science program page.
Other requirements: Students may not include more than 96 UOC of level I courses overall.
Honours
BActSt
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.
B Science
Candidates for Honours in the Science component of the combined degree program will need to consult the relevant School in which they wish to undertake the separate 1 year program of full time studies prior to their third year of study.
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.
B Science
Candidates for Honours in the Science component of the combined degree program will need to consult the relevant School in which they wish to undertake the separate 1 year program of full time studies prior to their third year of study.
Academic Rules
Requirements for the Bachelor of Actuarial Studies in dual degree mode
(96 UOC):
Content of Program
To be awarded a degree at Pass level, the BActSt must contain (as a dual degree):
1. 96 UOC in compulsory and elective courses. These include 72 UOC of compulsory courses, and at least 18 UOC of elective Level 3 actuarial studies courses.
2. A minimum of 84 UOC of courses offered by the UNSW Business School.
Progression rules
3. A minimum of 24 UOC courses must be completed before enrolling in Level 2 courses.
4. A minimum of 72 UOC courses must be completed before enrolling in Level 3 courses.
Awarding degree
5. A Pass degree with Distinction may be awarded if a student achieves a minimum of 75 WAM across the program and completes a minimum of 72 UOC at UNSW.
Academic rules relating to the Bachelor of Science in dual mode are as
follows:
1. Students must complete a minimum of 96 UOC for the Bachelor of
Science;
2. Students must complete at least one approved Bachelor of Science major, and this must be declared before enrolling in level II courses. Details of approved Bachelor of Science majors and how to declare a major can be found on the 3970 Bachelor of Science program page;
3. In addition to the courses required for a student's chosen major, students must take 'science' courses so that the major plus 'science' courses total 96UOC. Details of what courses constitute ‘Science’ courses can be found in Table 1 on the 3970 Bachelor of Science program page;
4. Students must complete at least 24 UOC of ‘science’ level I courses; Most majors in the Bachelor of Science already satisfy this requirement, for example, the Molecular Biology major requires BIOS1101, BABS1201, CHEM1011, CHEM1021 and 6 units of credit of Mathematics. This is a total of 30 UOC of science level I courses, therefore, no more level I science courses are required. Where a major does not include at least 24 UOC of science level I courses, students will need to choose additional level I science courses to bring the total to 24 UOC. For example, Psychology requires PSYC1001 and PSYC1011, therefore, students will need to choose an additional 12UOC of science level I courses. These science level I courses also count towards the 96 UOC requirement at rule number 3.
5. No student may commence level II courses until 30 UOC of level I courses have been successfully completed. (This is 30 UOC of courses taken towards the entire dual program and not just courses for the Science component);
6. Students may commence Science level III courses upon successful completion of 72 UOC (This is 72 UOC taken towards the entire dual program and not just courses for the Science component).
Students wishing to complete a double major in the Bachelor of Science when taken in dual mode with another degree program at UNSW, should be aware that it will be very difficult to complete two majors within 96 UOC. Therefore where a dual degree student would like to undertake a double major, they should be aware that it may involve extra time and cost to complete, and may have visa implications for international students.
Rules specifically applicable to the Bachelor of Actuarial Studies / Bachelor of Science
1. A maximum of 96 UOC of Level 1 courses overall.
2. MATH1151 replaces MATH1031, MATH1131 or MATH1141 in any stream that requires either of the latter courses. Similarly, MATH1251 replaces MATH1231, or MATH1241 in any stream.
3. Where MATH1041 is listed as required in a Science stream, students will be exempted from taking this course due to completion of MATH1151, MATH1251, and ACTL2131 as part of the Actuarial Studies program.
4. Students completing a major in Statistics in the Bachelor of Science, are not required to take ACTL2131 in their Actuarial Studies program due to the completion of MATH2901 and MATH2931 in their Science program (Note: Students who take the lower versions of the Mathematics courses, i.e. MATH2801 or MATH2831 must still take ACTL2131).
5. Students completing a major in Mathematics who complete MATH2901 as part of their major and take MATH2931 as a ‘Science’ elective, are not required to take ACTL2131 in their Actuarial Studies program. (Note: Students who take the lower versions of the Mathematics courses, i.e. MATH2801 or MATH2831 must still take ACTL2131).
Other rules in the BActSt and BSc will apply wherever relevant.
(96 UOC):
Content of Program
To be awarded a degree at Pass level, the BActSt must contain (as a dual degree):
1. 96 UOC in compulsory and elective courses. These include 72 UOC of compulsory courses, and at least 18 UOC of elective Level 3 actuarial studies courses.
2. A minimum of 84 UOC of courses offered by the UNSW Business School.
Progression rules
3. A minimum of 24 UOC courses must be completed before enrolling in Level 2 courses.
4. A minimum of 72 UOC courses must be completed before enrolling in Level 3 courses.
Awarding degree
5. A Pass degree with Distinction may be awarded if a student achieves a minimum of 75 WAM across the program and completes a minimum of 72 UOC at UNSW.
Academic rules relating to the Bachelor of Science in dual mode are as
follows:
1. Students must complete a minimum of 96 UOC for the Bachelor of
Science;
2. Students must complete at least one approved Bachelor of Science major, and this must be declared before enrolling in level II courses. Details of approved Bachelor of Science majors and how to declare a major can be found on the 3970 Bachelor of Science program page;
3. In addition to the courses required for a student's chosen major, students must take 'science' courses so that the major plus 'science' courses total 96UOC. Details of what courses constitute ‘Science’ courses can be found in Table 1 on the 3970 Bachelor of Science program page;
4. Students must complete at least 24 UOC of ‘science’ level I courses; Most majors in the Bachelor of Science already satisfy this requirement, for example, the Molecular Biology major requires BIOS1101, BABS1201, CHEM1011, CHEM1021 and 6 units of credit of Mathematics. This is a total of 30 UOC of science level I courses, therefore, no more level I science courses are required. Where a major does not include at least 24 UOC of science level I courses, students will need to choose additional level I science courses to bring the total to 24 UOC. For example, Psychology requires PSYC1001 and PSYC1011, therefore, students will need to choose an additional 12UOC of science level I courses. These science level I courses also count towards the 96 UOC requirement at rule number 3.
5. No student may commence level II courses until 30 UOC of level I courses have been successfully completed. (This is 30 UOC of courses taken towards the entire dual program and not just courses for the Science component);
6. Students may commence Science level III courses upon successful completion of 72 UOC (This is 72 UOC taken towards the entire dual program and not just courses for the Science component).
Students wishing to complete a double major in the Bachelor of Science when taken in dual mode with another degree program at UNSW, should be aware that it will be very difficult to complete two majors within 96 UOC. Therefore where a dual degree student would like to undertake a double major, they should be aware that it may involve extra time and cost to complete, and may have visa implications for international students.
Rules specifically applicable to the Bachelor of Actuarial Studies / Bachelor of Science
1. A maximum of 96 UOC of Level 1 courses overall.
2. MATH1151 replaces MATH1031, MATH1131 or MATH1141 in any stream that requires either of the latter courses. Similarly, MATH1251 replaces MATH1231, or MATH1241 in any stream.
3. Where MATH1041 is listed as required in a Science stream, students will be exempted from taking this course due to completion of MATH1151, MATH1251, and ACTL2131 as part of the Actuarial Studies program.
4. Students completing a major in Statistics in the Bachelor of Science, are not required to take ACTL2131 in their Actuarial Studies program due to the completion of MATH2901 and MATH2931 in their Science program (Note: Students who take the lower versions of the Mathematics courses, i.e. MATH2801 or MATH2831 must still take ACTL2131).
5. Students completing a major in Mathematics who complete MATH2901 as part of their major and take MATH2931 as a ‘Science’ elective, are not required to take ACTL2131 in their Actuarial Studies program. (Note: Students who take the lower versions of the Mathematics courses, i.e. MATH2801 or MATH2831 must still take ACTL2131).
Other rules in the BActSt and BSc 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 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
UNSW Science
e-mail: sso@unsw.edu.au
tel: + 61 2 9385 6125 / 9385 7788
location: Robert Webster Building, Room 128
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
UNSW Science
e-mail: sso@unsw.edu.au
tel: + 61 2 9385 6125 / 9385 7788
location: Robert Webster Building, Room 128
Area(s) of Specialisation
- Anatomy
- Biochemistry and Molecular Biology
- Bioinformatics
- Biological Science
- Biotechnology
- Chemistry
- Food Science and Technology
- Genetics
- Geography
- Geology
- Marine Science
- Materials Science
- Mathematics
- Microbiology and Immunology
- Neuroscience
- Oceanography
- Pathology
- Pharmacology
- Physics
- Physiology
- Psychology
- Statistics
- Vision Science
Contents
Study Levels
UNSW Quick Links
