Actuarial Science

Learn to evaluate risk and opportunity in a business setting, and use your findings to influence some of society’s most important economic structuresIn a Bachelor of Actuarial Science you’ll learn to apply mathematical concepts to real-life scenarios, and use your analytical skills to help companies plan for the future.

As you further develop your maths and analytical skills, you’ll start to use a range of concepts and data findings to solve real commercial problems.

The course develops through the four themes of foundation commerce knowledge, specialist discipline knowledge, capstone experience, and elective study.

A. Foundation commerce knowledge

These units will provide you with a comprehensive study of economics and econometrics disciplines and the impact they have on multi-discipline decision-making in organisations. The units consider the impact on the business, professional and public policy communities.

B. Specialist discipline knowledge

These units will develop your capacity as a critical and creative professional who is able to apply your knowledge of actuarial science to provide discipline based solutions to commerce. Units contained within the discipline may meet the requirements for professional accreditation bodies.

C. Capstone experience

The capstone unit is designed to consolidate the knowledge and skills acquired throughout the study of your specialisation.

D. Free elective study

This will enable you to further develop your knowledge of actuarial science, or commerce more broadly, or to select any units from across the University in which you are eligible to enrol including to complete a major or minor from another course.

Qualifications

Equivalent Australian Year 12

Recent secondary education

ATAR requirements

ATAR

92.35

Note Lowest Selection Rank to which an offer was made

86

Note Monash guarantee for 2021 entry

86.6

Note Lowest ATAR to which an offer was made ATAR explained Monash is committed to admissions transparency

Subject prerequisites

All applicants must satisfy the following prerequisites or their equivalents.

Australian VCE subjects

English

Units 3 & 4: a study score of at least 30 in English (EAL) or 25 in English other than EAL

Maths

Units 3 & 4: a study score of at least 25 in one of Mathematical Methods (any) or Specialist Mathematics

Sciences/Other

N/A

IB subjects

English

At least 4 in English SL or 3 in English HL or 5 in English B SL or 4 in English B HL

Maths

At least 4 in Mathematics SL or 3 in Mathematics HL or 3 in Further Mathematics HL

Sciences/Other

N/A

VET Study

All applicants must satisfy the equivalence of the VCE subject prerequisites.

VET Certificate IV, Diploma or Advanced Diploma graduates:

Applicants will require a minimum of 70% average to be considered for selection. Preference will be given to applicants whose prior studies are related to the course. Programs that involve competency-based assessment without grades or marks will not meet the admission requirements.

• For Monash College Diploma students, refer to Monash College Diploma destination degrees.
• For Monash University Foundation Year students, refer to Monash University Foundation Year destination degrees

Entire academic recordThis course uses the entire academic record as part of its selection considerations.

Higher education

University: Applicants will require a minimum of 70% average to be considered for selection. Preference will be given to applicants whose prior studies are related to the course. A minimum of two single units must be completed in order to meet minimum admission requirements.

Entire academic recordThis course uses the entire academic record as part of its selection considerations.

Work and life experience

Multiple pathways to this course

Applicants who have successfully completed Year 12 are eligible to apply for this course.

Applicants with no formal secondary or tertiary qualifications are not eligible to apply for this course. This course uses the entire academic record as part of its selection considerations.

There are many ways to gain entry to a course at Monash. If you don't meet our entry requirements, there are pathways to help. More about alternative pathways...

Additionally, we recognise that some applicants may have experienced difficulties that have disadvantaged them when applying for university. We offer a range of special admissions schemes that may help you gain entry to your chosen course, including pathways for Australian Aboriginal and/or Torres Strait Islander students. .More about special admissions schemes...

All applicants must satisfy the equivalence of the VCE subject prerequisites

Alternative qualifications and prerequisites

For other domestic and international qualification entry requirements and scores for this course use the study credit and admissions eligibility search.

English requirements

Applicants must also meet the English language requirements.

University entrance requirements

Minimum entrance requirements for admission to Monash University Australia.

Learning outcomes

These course outcomes are aligned with the Australian Qualifications Framework level 7 and Monash Graduate Attributes.Upon successful completion of this course it is expected that you will be able to:

1.

be critical and creative scholars who produce:

• innovative solutions to problems
• apply research skills to business challenges
• communicate effectively and perceptively

2.

be responsible and effective global citizens who:

• engage in an internationalised world
• exhibit cross cultural competence
• demonstrate ethical values

3.

demonstrate broad knowledge and technical skills in actuarial studies and be able to provide discipline based solutions relevant to the business, professional and public policy communities that we serve

4.

be able to identify, analyse and quantify risk and opportunity using mathematical, econometric and financial analyses in a wide range of business settings

5.

construct conceptual frameworks and use these to analyse complex issues in the corporate sector, government and the professions.